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Homeownership Talk is your one stop for all your homeownership education and news. Your home is they to your financial future. Understanding how to buy and maintain your home can make the difference between building wealth or facing the nightmare of foreclosure.
The host of Homeownership Talk, is Fair Housing Advocate and Talk Show host, Shirin. She has been dedicated for over 8 years to protecting consumers when they buy or refinance their homes. |
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Q: How to Avoid Foreclosure |
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The guidance below is applicable to homeowners with FHA Insured loans. While a good deal of this information may apply to all homeowners in danger of losing their homes, not all of the foreclosure avoidance tools mentioned may be available to you if you have a VA or conventional loan. Additionally, HUD/FHA does not have any Loss Mitigation oversight over VA or conventional loans....
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Predatory Lending..."The Equity Killer" |
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Predatory Lending is the equity killer. Consumers can lose equity in their homes by being placed in higher rates than they qualify for, by paying junk fees that are financed in the loan, by being placed in bad loan programs, etc. Predatory Lending, simply stated, is the practice of unfair lending. Predatory Lending victimizes hundreds of thousands of families every year. For the past 3 years Fair Community Lending Services has worked to protect consumers against predatory lending through education, access and accountability. |
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Credit… A Key To Wealth Building |
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Credit is the key to wealth building. Before you embark on any financial transaction you must understand your credit. Do you have good credit, ok credit, at risk credit?
A credit report is a snapshot of one's payment history. It is used by lenders, insurance companies, landlords, and employers to determine a consumer's willingness to pay and demonstrate their credit worthiness. One's credit report and their FICO score (ranging from 300-850) will help financial institutions decide if one is eligible for a loan and if so what type of interest rate they can obtain. |
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Your Mortgage…A Key To Wealth Building |
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A mortgage is a loan secured by Real property. When you take out a mortgage you are financing the cost of your home over a set amount of time. The mortgage you choose is a key factor in building your home’s equity. It is here that takes place. Most consumers are in higher interest rates on their mortgages than they qualify for causing them to loose billions of dollars each year combined Equity. Your will closely work with you to ensure you are in the best mortgage for your current financial situation, you have received all of your loan options in writing and that there are no excess junk fees charged to you in order complete your home loan transaction. |
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