Rick Otton Podcast Delivers Solution to Negative Equity

(PRWEB) August 27, 2013 Home owners who owe more on their properties in mortgage debt than what they are worth do have a way out, reveals real estate educator, Rick Otton. During a regular Creative Real Estate podcast, Mr Otton told listeners his non-traditional property investment strategies allows people trapped in this cycle of negative equity to walk away from their debt.
In the podcast with two of his Sydney real estate investment students, Josh and Callie, Mr Otton said negative equity was an all too common scenario for many home owners.
?Anybody who got a 95 per cent home loan in the last three or four years has probably got no equity because house prices have dropped back 5 per cent. Quite often, people are finding they actually have more debt on their houses than what they?re worth,? Mr Otton said.
Student success story
Josh and Callie said not long after completing Rick Otton?s course, they met a woman who had been unsuccessfully trying to sell her house.
?I think she paid $ 310,000 for her property when she bought it about four or five years ago, but it was only worth about $ 260,000 by the time we met her,? Josh said.
“She was between a rock and a hard place, so we offered to look after the problem for her and get her out of debt. We did that by finding a young couple who were both working full-time, but who couldn?t get bank financing because they had been shopping around for credit ? which meant no financier would touch

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KANETIX Provides Tips to Homeowners for Mortgage Prepayment Options

Toronto, Canada (PRWEB) August 18, 2013 If a homeowner has a mortgage they have options to either apply for a new mortgage to get a lower rate or choose to pay off their mortgage before the end of the term. Regardless of what a homeowner chooses to do with their mortgage, it is important to be fully aware of the circumstances surrounding prepayment options says KANETIX.
A mortgage contract is a legally binding contract, and a homeowner is obligated to follow the rules outlined in the contract specifically. If one fails to do so, they could be in breach of their contract and face various penalties. A prepayment option, however, enables one to repay their loan before the term of the loan has been reached. It is important to note that a mortgage loan may be considered to be prepaid even when it has not been prepaid in full. For example, some mortgage contracts will indicate that prepayment relates to any amount that has been paid beyond the amount of the minimum monthly payment. Paying even a few dollars more per month or making payments too soon may trigger the prepayment clause in the mortgage contract.
Because the prepayment options for a mortgage contract can vary significantly from one lender to the next, it is important for one to review and understand their prepayment options in detail before they sign their loan documents. While some people will apply for a new mortgage with the intention of remaining in the home until the end of the mortgage term has been

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Reverse Mortgage Stabilization Act ? A New LoanLove.com Guide To Today?s Home Equity Conversion Mortgages

San Diego, CA (PRWEB) August 21, 2013 LoanLove.com is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. With a new law that has been recently passed, the mortgage industry is experiencing many changes, mostly with the way reverse mortgage loans are handled. This new bill, called the Reverse Mortgage Stabilization Act was passed in agreement from both the Republican and Democratic parties with the intention of securing the interests of both loan lenders and borrowers when it comes to reverse mortgages. But in what way? LoanLove.com explains all in a guideline from their newest article.
This Loan Love article, titled ?Reverse Mortgage Reform 2013 (Updated HECM Guidelines)? discusses all the new reverse mortgage requirements that come with the new law. It also helps consumers in understanding how a senior home owner may make use of their home?s equity. As the article states:
?For most people, the only way to make use of the equity you?ve built up in your home is by selling or

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Finding a New or Used Local Car in Montana has Never Been Easier with the Launch of AgentAuto.com

Billings, Montana (PRWEB) December 08, 2012 Agent Auto is expecting to increase car sales for Billings car dealerships with the launch of their new website AgentAuto.com. The website provides a collection of useful information car buyers look for when making a purchase such as CARFAX. The car dealership is also just a click away within the Agent Auto car listing.
One of the main advantages Agent Auto has over other websites is their sorting features. A buyer can sort car listings by the usual make and model, year, prices, with or without a picture, etc. The website will also search by dealer, and sort by the date the car was listed by a particular dealer and categorize the listings. An email can also be sent to a friend from the website about a particular listing. Buyers will also appreciate the dealership profile that makes it so easy to contact the car dealership. Agent Auto has also gone the extra mile to make sure the dealership listed on their website are credible. As stated on their website, ?AgentAuto’s nationwide representative network has personally viewed, photographed and recorded all of the details of our entire inventory.?
Another great feature that Agent Auto provides that no other Billings car dealership website has is a loan calculator that shows an amortization schedule that shows month by month the amount of principle, interest, monthly amount due, and the balance owed for a loan. This is very helpful for any buyer to be able to visually see

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Credit Card Debt Consolidation Basics Covered In New Loan Love Guide

San Diego, CA (PRWEB) August 05, 2013 LoanLove.com is a borrower advice website that provides detailed insights into the mortgage industry in a fun and entertaining way. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending trends, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. A recently posted article on the website helps to further help loan borrowers by explaining the basics of credit card debt consolidation.
The article says: ?If you?re carrying a lot of debt, that probably means you?re also carrying a lot of stress: Maybe you?ve amassed so much debt that each month, you find yourself performing a juggling act just to try to cover all the amounts due, and a simple trip to the mailbox pushes your nerves to the limit. Or maybe you?re still able to handle your debt but you realize that it?s having a significant impact on your debt-to-income ratio and your ability to get a mortgage or qualify for other loans or credit. In any case, taking a debt consolidation loan to pay off those debts can be a great option.?
Debt consolidation companies use the loan proceeds to pay off the borrower?s existing debts, allowing them to pay one loan at a specific

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Gain Insights into MBS and CMO Performance Drivers Investment Forum

Washington, DC (PRWEB) August 06, 2013 Callahan & Associates and TRUST Mutual Funds are excited to announce Kevin Heal, Vice President of Sales and Business Development with Callahan Financial Services as a speaker at the National Investment Forum taking place October 9-11, 2013.
Heal provides over 25 years of experience in trading and sales of mortgage-backed securities in the Wall Street environment. Heal explains his session as, ?by ?looking under the hood? investors will become more educated and aware about the differences between similar looking securities.? He will utilize his hands-on knowledge in this interactive learning session to help attendees better understand the key factors to consider when evaluation a security.
This session was originally delivered at the January 2013 Callahan Investment Forum. Attendees rated this as one of the most valuable sessions. ?Kevin?s approach provides a learning experience that leverages the insights and tools of an investment manager,? remarks Jay Johnson, President of TRUST Mutual Funds. ?We?re very focused on providing practical take-a-ways credit union professionals will actively use once they return to their offices.?
Particular emphasis is placed on the role of the investment portfolio as a liquidity source to fund loans and as an earning asset to maintain net interest margin. The conference is restricted to credit unions, allowing open exchange of ideas in a collegial environment.
Register by

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New Reverse Mortgage Services Being Offered in the Denver Colorado Area

Denver, Colorado (PRWEB) July 29, 2013 How can RMM help prepare for receiving Denver HECM loans?
When people apply to receive certain types of loans such as HECM or a reverse mortgage, there is a lot that needs to be planned for. These types of loans while having many benefits can also come with some cons, it is very important to make sure getting a Colorado reverse mortgage is the right decision before applying. This is what RMM really excels at, helping their customers get a better knowledge of whether or not they are right for applying and possibly receiving these types of loans. They also provide their customers with their professional designs reverse mortgage calculator that can help them get accurate estimates of what they could be receiving with these loans.
How can using this online calculator tool be helpful in preparing for Denver HECM loans?
This tool was designed by financial experts, it is designed to provide people with an accurate estimate of what type of financial support they could receive when applying for a Colorado reverse mortgage. This helpful tool is very easy to use and can provide people with accurate numbers that can help them better plan for their retirement. They will be able to get estimates on how much they could receive monthly for: income, lump sum, medical bills/ supplies, house payments, and more. This reverse mortgage calculator has proven to be very helpful in getting people prepared for these types of loans.
Why

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Secure 0.49% APR* Online Only Auto Financing with PenFed

Alexandria, VA (PRWEB) July 22, 2013 Summer savings on auto financing can be found at PenFed (Pentagon Federal Credit Union). Now for a limited-time only, when auto shoppers use the PenFed Car Buying Service and finance their purchase with PenFed, shoppers can secure 0.49% APR online only financing for up to 48 months on new and used vehicles.
Members who prefer to negotiate at a dealership can still enjoy a 1.74% APR** online financing with PenFed for new vehicles up to 72 months and used vehicles up to 60 months.
“This rate is a terrific deal when you stop to consider that PenFed is lowering the rate on its auto financing during a time when rates are going up industry wide,” said Steven Troxel, vice president of marketing at PenFed. “Not only that, but our Car Buying Service allows shoppers to save both time and money.?
PenFed Car Buying Service
PenFed members have seen an average savings of $ 2,973 off MSRP? on new cars with the PenFed Car Buying Service. The experience is tailored for shoppers looking for a new or used car in a convenient ?hassle-free? environment; and allows members to research new and used vehicles, get safety information, see photos and videos of vehicles, read reviews, and receive negotiated price quotes on vehicles from dealers in their area.
?When you combine an easy, one-stop shop experience with 0.49% APR online only financing this special promotion is indeed truly hard to beat,” said Troxel.
For more

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Behind On Your Mortgage? There’s Still Time to Modify

San Diego, CA (PRWEB) July 19, 2013 Homeowners facing foreclosure have something to cheer about thanks to the Obama administration?s decision to extend its Making Home Affordable (MHA) initiative, including the Home Affordable Modification Program (HAMP), until the end of 2015. The initiative was established during the peak of the economic and housing crises in 2009 and is aimed at helping homeowners who are more than 90 days behind in their mortgages lower payments through various loan workout solutions that provide more favorable terms.
Since it was first unveiled in 2009, HAMP has helped about 1.1 million homeowners permanently modify their loans to terms that make their monthly payments more affordable. HAMP is funded through the U.S. Treasury?s housing bailout program and was initially available for loans backed by Fannie Mae and Freddie Mac. Today, the MHA offers a similar program for loans that are not underwritten by these two federal guarantors.
HAMP works by providing financial incentives to lenders that make it possible for them to rewrite existing mortgages, allowing homeowners to stay in their homes and avoid foreclosure while mitigating the lender?s own losses. Foreclosures are costly to both homeowners and the investors that hold mortgages in their portfolios, which almost always must take a loss when they take possession of the home following a completed foreclosure. Most states allow mortgage companies to pursue defaulting homeowners even after

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BelmanInsuranceAdvisor.com Counsels Homeowner?s Insurance Carriers to Keep a Watchful Eye on Increasing Mortgage Rates

Chicago, IL (PRWEB) June 29, 2013 Belman Insurance Advisor knows that it was to be expected that mortgage interest rates would go up. Homebuyers have seen in the past four years, the lowest interest rates in history. According to Freddie Mac, the average 30 year fixed rate mortgage in 2012 was 3.66%. In 1982, it was a whopping 16.04%. According to USA Today?s article entitled ?Average 30-year mortgage rate up to 4.46%? rates last week clocked in at 4.46%, up from 3.93% the week before, the home buying honeymoon may be over and with it a buying spree that boosted the homeowner?s insurance industry.
Homeowner?s insurance is not required when buying a house?with cash. However, if there is any type of loan on the property, a homeowner?s insurance investment is required. The low mortgage rates have helped encourage current homeowners and potential buyers to purchase not only primary homes, but also second or investment homes as well. All of which would require the purchase of homeowner?s insurance. Now that rates are on the inevitable upswing, BelmanInsuranceAdvisor.com believes the insurance industry will have to adjust itself accordingly.
What are these adjustments? It may mean offering better pricing to clients with not only multiple lines of insurance but with multiple dwelling policies. If rates are going up, it makes sense that home sales will decrease, even with decreased values in many areas. It will mean a concerted push for cross sales and perhaps even

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