If you are one of the many homeowners who purchased your primary residence with 80/20 mortgages, or if you took out a second mortgage in the past few years, did you know that you may be able to remove the second mortgage lien from your home in a Chapter 13 Bankruptcy?Chapter 13 Bankruptcy offers an [...]
Archive for February, 2010
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FHA Mortgage Loan versus Conventional Mortgage Refinance for Debt Consolidation
Posted by admin on February 26th, 2010
The term conventional loan includes loans under the current lending limits set by the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Fannie Mae and Freddie Mac, respectively. A Federal Housing Administration (FHA) loan is a loan based on an insurance program that enables you to buy [...]
The Zero Down 80/20 Mortgage
Posted by admin on February 25th, 2010
This is an excellent loan for those that are lacking the down payment required for other types of mortgages.The 80 20 mortgage is simply two loans for 100% of the purchase price. It is a first mortgage at 80% of the purchase price with a 20% second mortgage.If you are a conforming borrower, doing your [...]