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Moishe Alexander has found that Federal authorities have accused Wall Street’s premier firm Goldman Sachs of perpetrating major fraud during the mortgage boom which prefaced the recent crash. This would mark a critical moment in the effort to reveal scams in one of the worst financial crisises in decades.

The fraud charges against this industry leader allege that the company broke numerous laws when it sold an intricate housing-related investment that was obvious would fail, costing $1-billion in losses.

The scam charges are the most serious blasting to date of the firm’s behavior in the leading up years to the most recent financial crisis, and since they arrive just as lawmakers are deciding on how to change the way the banking system operates, they could also drastically change the debate now happening in Washington.

News of the lawsuit, filed by the SEC, sent the firm’s shares diving almost 13% and destroyed $12.4-billion of its market value. Other bank’s shares, such as Citi and Bank of America, also paid a price as investors freaked out about the possibility of increased investigations and stronger regulation of the market.
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Before this most recent economic downturn, the mortgage market was an absolute free-for-all. Brokers would look high and low to find anyone whom they might be able to scam away as a good borrower.

These fraudulent brokers would heap excess amounts of money to the loan to cover all household purchases including furniture.

When Barack Obama took office in November 2008 he vowed to fight this scam and fraud head on with strongly regulated borrowing laws. He failed to deliver on these promises and turned out to be a closet Liberal who wants everyone to own a home regardless of whether or not he can afford it.

Back to the drawing board. The following are 5 tips I strongly advise for easy preapproval of a mortgage:

1. Shop Everywhere…and Early On

Speak with various lenders to help decide which package will suit you best, Since no one person will have the best solution for you, make a point of shopping around a lot. Though, you must ensure you begin shopping early, as when you are pressed for time you will end up with terrible advice and will end up with a package you are unhappy with.

2. Prepare your Financial Bio

In order to be preapproved, the lender is going to want to assess your file very well. Have all the information of your past written down and written well. The easier it is for the lender to understand, the higher chance you have of being preapproved nice and early.

Check of the following as you prepare them:

  • W2’s from the past two years
  • The last two months bank statements
  • Proof of income from investments
  • Last 2 years worth of tax returns
  • Recent proof of income

3. No ONE lender can obligate you

4. Watch your Credit Score

The credit score is a crucial part of the lending process and as we explained earlier, this is now becoming something you will not be able to play around with. Bad credit score, no loan.

5. Watch the Expiration Dates

The preapproval letters from various lenders usually tend to have expiration dates usually around 90 days from the date issued. Ensure you have not passed the date, as you risk losing the quoted rate.

Wishing you luck on your mortgage!

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Loan.com wants to make your mortgage refinance process as straightforward as possible for you by arming you with the tools that will help you to make informed choices when looking for a mortgage refinance rate and terms. These tools include:

  1. The Borrower’s Bill of Rights – Our Borrowers Bill of Rights helps you avoid unethical lenders and get the most from ethical lenders.
  2. Truth about Loans – Our in-depth library of helpful articles tells you what to expect at every step of mortgage process.
  3. The Ethical Lender Rate Directory – The Truth about Loans section allows consumers to search for mortgage rates while at the same time flagging those mortgage lenders that abide by the Borrower’s Bill of Rights and are in good standing with the Better Business Bureau.

read more

Another advantage of home refinancing is that you can shorten the term of your mortgage. Let’s say, for example, that you originally had a 30-year mortgage and have been paying it for eight years. Thanks to mortgage refinancing, you can switch to a shorter term of either 10, 15 or 20 years. This can save you thousands of dollars of interest. Also, if the refinance rate is lower, but you maintain the same monthly payment, you will build up equity in your home more quickly, because more of your payment will be going towards principal.
Exchange an Adjustable Rate for a Fixed Refinance Rate

When interest rates are low, adjustable rate mortgages (ARMs) are the housing market’s darlings. However, as interest rates increase, that adjustable rate may not look as sweet. It’s also possible that you opted for an ARM because your financial future was less secure, or you weren’t sure how long you’d stay in your home. If, however, you’ve become financially stable and know that you’ll be staying in your home for several years, it may be beneficial to swap that . You’ll have more security knowing that your monthly payment will remain steady, regardless of the current market environment.
Access to Extra Cash – Cash-out refinancing

One way to put more money in your pocket is to tap into the equity you’ve built in your home and do a “cash-out” refinancing. In this scenario, you can refinance for an amount higher than your current principal balance and take the extra funds as cash. This can provide money for remodeling your home, paying off high-interest rate bills, or sending your kids to college.

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This is great stuff to know said Moishe Alexander of Canadian Funding Corp.

Reverse mortgages are becoming popular in America. HUD’s Federal Housing  (FHA) created one of the first. The Home Equity Conversion Mortgage (HECM) is FHA’s reverse mortgage program which enables you to withdraw some of the equity in your home. The HECM is a safe plan that can give older Americans greater financial security. Many seniors use it to supplement social security, meet unexpected medical expenses, make home improvements and more. You can receive free information about reverse mortgages in general by calling AARP toll free at (800) 209-8085. Since your home is probably your largest single investment, it’s smart to know more about reverse mortgages, and decide if one is right for you!

1. What is a reverse mortgage?

A reverse mortgage is a special type of home loan that lets you convert a portion of the equity in your home into cash. The equity that built up over years of home mortgage payments can be paid to you. But unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence. FHA’s HECM provides these benefits. You can also use a HECM to purchase a primary residence if you are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property you are purchasing.

2. Can I qualify for FHA’s HECM reverse mortgage?

To be eligible for a FHA HECM, the FHA requires that you be a homeowner 62 years of age or older, own your home outright, or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan, and you must live in the home. You are further required to receive consumer information from an approved HECM counselor prior to obtaining the loan. You can contact the Housing Counseling Clearinghouse on (800) 569-4287 for the name and telephone number of a HUD-approved counseling agency and a list of FHA-approved lenders within your area.

3. Can I apply if I didn’t buy my present house with FHA mortgage insurance?

Yes. It doesn’t matter if you didn’t buy it with an FHA-insured mortgage. Your new FHA HECM will be FHA-insured.

4. What types of homes are eligible?

To be eligible for the FHA HECM, your home must be a single family home or a 1-4 unit home with one unit occupied by the borrower. HUD-approved condominiums and manufactured homes that meet FHA requirements are also eligible.

5. What’s the difference between a reverse mortgage and a bank home equity loan?

With a traditional second mortgage, or a home equity line of credit, you must have sufficient income versus debt ratio to qualify for the loan, and you are required to make monthly mortgage payments. The reverse mortgage is different in that it pays you, and is available regardless of your current income. The amount you can borrow depends on your age, the current interest rate, and the appraised value of your home or FHA’s mortgage limits for your area, whichever is less. Generally, the more valuable your home is, the older you are, the lower the interest, the more you can borrow.

You don’t make payments, because the loan is not due as long as the house is your principal residence. Like all homeowners, you still are required to pay your real estate taxes, insurance and other conventional payments like utilities. With an FHA HECM you cannot be foreclosed or forced to vacate your house because you “missed your mortgage payment.”

6. Can the lender take my home away if I outlive the loan?

No. You do not need to repay the loan as long as you or one of the borrowers continues to live in the house and keeps the taxes and insurance current. You can never owe more than the value of your home at the time you or your heirs sell the home.

7. Will I still have an estate that I can leave to my heirs?

When you sell your home, you or your estate will repay the cash you received from the reverse mortgage plus interest and other fees, to the lender. The remaining equity in your home, if any, belongs to you or to your heirs. More info here

A good number of well-intentioned families have put off the thoughts of purchasing a home. They are waiting for a time in the distant future when house prices

are stable and job security is no longer a joke. Unfortunately, they are missing out on a great time to buy.

Moishe Alexander says now is the right time

Why is it such a great time to buy? The truth of the matter is that there have never been better deals on real estate in Toronto. Supply is unlimited and demand is at an all time low which means that there are a lot of great deals out there. But just because there are good deals doesn’t mean that YOU should be buying. The following will help you determine whether or not now is a good time for you to buy

take a look:  http://www.articlesbase.com/real-estate-articles/real-estate-in-toronto-is-now-a-good-time-to-buy-955683.html

Its a good time to buy with Moishe Alexander

End of year and December give you the good opportunity to purchase real estate.In this time you can pick up a bargain real estate from a motivated seller and you can also save on your purchase costs.
1.Real estate buyers put off looking for a house that holiday decorating,parties,shopping or celebration.Furthermore,the winter makes real estate buyers prefer to stay home because effect from cold weather. For this reason make a low competition from other real estate buyers.


2.Home sellers who didn’t sell pending the recent buying frenzy are worried that their home will not sell. Because,most home seller offering their home for sale while the holiday season is motivated.
3.Any real estate agents who want to take their holiday same other people.They need to sell they house quickly,the agents aren’t as busy,you get good service They’re more likely to take low offers seriously. Real estate agents love buyers or investors ready to buy real estate while December.


4.On december,Interest rates continue to creep up. Who knows what the rates will increase to next year?

for more info go to: http://motelfan.blogspot.com/2009/05/december-good-time-to-buy-real-estate.html