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How to Get a Mortgage for the Self Employed

How to Get a Mortgage for the Self Employed
The mortgage requirements for self employed people have been tightened by the industry regulator. If you want approval, you'll need to verify your income. It was only a few years ago that getting a mortgage for the self employed in the UK was really easy. If you could find a decent broker, approval was virtually guaranteed. However, after tens of thousands of defaults and property repossessions, the Financial Services Authority (FSA) had no alternative

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Few Homeowners Helped by Obama Making Home Affordable Program

Few Homeowners Helped by Obama Making Home Affordable Program
Obama's Making Home Affordable Program helps few homeowners find permanent solutions because banks profit from foreclosure. Homeowners should not give up. Many people believe that President Obama's Making Home Affordable Program (HAMP) is helping fewer homeowners than originally hoped. According to Ariana Eunjung Cha and Dina ElBoghdady in the January 13, 2019 article "Mortgage Investors Ramping up the Pressure on Big Banks", early in 2009

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How Has the UK Government Mortgage Rescue Scheme Changed?

How Has the UK Government Mortgage Rescue Scheme Changed?
If you can't afford to make the monthly repayments, the UK Mortgage Rescue Scheme offers a solution for hard-up homeowners who qualify under the new rules. The UK government Mortgage Rescue Scheme (MRS) aims to help some of the most vulnerable homeowners to avoid repossession. You may be eligible for assistance if you're a pregnant woman, have dependent children, are a senior citizen or have a mental or physical disablement.MRS isn't designed

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Governments and their Roles in Regulating Home Purchase Financing

Governments and their Roles in Regulating Home Purchase Financing
Governments of the world have been blamed for the mortgage debacle of 2008 but how much are they to blame? These are their roles in home purchase financing. The purchase of a home is a large and significant purchase in virtually every developed country. Though national governments may not specifically oversee individual purchases, they do establish policies and broad laws that affect the general home buying market and establish direction for it.

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What Are the Mortgage Fees?

What Are the Mortgage Fees?
We all want to save money by getting a remortgage, but lenders are increasing mortgage arrangement fees. Here are the charges that you may have to pay. The amount of money saved when you get a remortgage may not be as much as you might think. In the current low interest rate climate, all of the major banks are looking for innovative ways to boost their profits. High mortgage fees look like they're set to stay.You may think that you're saving

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5 Steps to Take if You Can’t Afford Your Mortgage Payment

5 Steps to Take if You Can’t Afford Your Mortgage Payment
Learn about a few of the options available when the monthly mortgage payment is no longer affordable. For many people, a mortgage payment represents the largest chunk of their monthly expenses. Getting behind on these payments can cause a great deal of stress and financial strain. After a while, you may get to a point where you feel like you can't catch up. If you fear you are headed in this direction, don't give up hope! There are steps

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Second Mortgages Remain Lingering Problem With Home Value Losses

Second Mortgages Remain Lingering Problem With Home Value Losses
A number of borrowers and lenders are now facing the question of how to resolve second mortgages such as home equity credit lines in cases of foreclosure. Second mortgages are posing additional complications in the already troubled U.S. housing market. Not only are a portion of the homeowners holding them in debt for more than their home’s value, but a resolution of the loans usually becomes part of a foreclosure process.The home equity loans

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How to Walk Away from a Mortgage

How to Walk Away from a Mortgage
Sometimes it makes financial sense to walk away from a mortgage. Here are some of the consequences homeowners should consider before defaulting on mortgage. As more and more home values slide below what borrowers owe on their mortgages, in some cases, it may be better for homeowners to walk away from a mortgage.For many homeowners it makes financial sense to rent a home for less money rather than pay an inflated monthly mortgage payment, which was

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Christian Mortgage Loans: Let Lenders Be Good Financial Stewards

Christian Mortgage Loans: Let Lenders Be Good Financial Stewards
How do Christian mortgage loans differ from traditional borrowing? Learn about companies, lenders, brokers and more who serve faith-based customers. Christian mortgage companies have expanded throughout the past 15 to 20 years in the United States, offering faith-based advice and loans to customers. These Christian lenders, brokers and loan companies offer customers a network of support for financial planning decisions such as buying a house, home

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The Endowment Mortgage – Unkept Promises

The Endowment Mortgage – Unkept Promises
The endowment policy, as used toward the payment of a mortgage, was one of the most promising investment vehicles in the United Kingdom. What happened? In the late 1980s and early 1990s, if you lived in the UK and Ireland and were considering a house, then your primary worry was your mortgage (granted, you shared this concern with most people in the world!). There are few people for whom the cost of a mortgage doesn’t dominate their income;

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