Few Considerations For Private Lenders For Real Estate

At the time you are considering to buy a new house or second house then searching for private lenders for real estate can be a good idea.

In case you start searching for private lenders for real estate there are lot of them you will come across. However it is essential for you to understand the fact that you can get the best one when you have ensured that the provider is reliable. Your money will be at stake so it is crucial that you search for private money lenders for real estate that is well known and good enough.

There are lots of factors that you have to consider so that you can select the best one. Here are some of the aspects which you need to keep in mind at the time you are searching for private lenders for real estate:

At the time you search for these money lenders you will come across lot of them however you need to search for the one that is good enough. However one thing that you need to know is that the best one is the one that is reliable. There are some of the factors which will help you to know the best regarding this. Lot of things will have to be kept in mind at the time you are searching the private lenders.

The foremost thing that they need to have is the license for the same. There are lots of lenders that will claim that they are professionals however there are chances that you will not always get the best type of loan that you want. License plays a very significant role. With this you will be sure that you will be assured of dealing through the professionals that are good enough. You need to initially tell to the lenders about all that you want. So that you can accordingly get what you want.

Another thing you need to keep in mind is that to get along with the private money lenders for real estate that has lot of alternatives for you. They are the ones that will be able to offer you what you are looking for. They are the ones that will give you options so that you can select to get along with the loan that will be suitable to your needs. You can ask them to explain you well and also prepare a chart that will simplify everything including interest rates. With this you will be able to make a final choice as to what is good and best.

These are some of the things that you need to consider at the time of searching for private money lenders.

Luxurious Facilities In Singapore Condos

Year after Year world running on modern facilities. People want more and more facilities day by day. With new technologies you can get more facilities in less effort. Nowadays everyone wants the luxurious home to live and the builders provides all luxurious facilities to satisfy their customers. When you get your dream house then money doesnt matter.

Today builders provide different facilities through which an ordinary man also can buy his corn home. They provide monthly EMIs, so a person can afford the condo and make it to his own home after some years. A condo is in a new trend in Singapore.

The condo has everything to fulfill a persons luxurious life dream. It contains,
– Gym
– Swimming pool
– Great location
– Running track
– Golf club
– Secure parking place
– Lobbies
– Clubs
– Elevator

And many more extra-ordinary facilities. Some condos are located beside the sea so it gives stupendous look to a condo.

Singapore condos divided into three different parts regarding the price :
– Luxurious condos : Developers put their all efforts to fulfill the customers luxurious services and give them the finest quality in terms of finishing, fittings and fixtures. They hire extra-ordinary architectures to make a unique and stunning design of their project which attracts more and more people.

– Mid- tier range Condos : All people cant afford the luxury condos so developers make the mid-tire range condos. Then there are condominiums belonging to the mid-tier range. These types of condos located near the city fringes, in areas like Newton Novena and Tanjong Rhu. These types of condos are famous because of its location which contains entertainment hubs and other full facilities. They also provide great theme based condos so what a person need more than this ????

– Low Range condos : People who live in public housing, can make their own property through the developers who make low range condos. Here they provide needful facilities. These condos have all the facilities which a common man wants.

People spent lots of money on condos because they can fulfill their all needs in a single condo. Singapore condos are very famous in all over the world because of the interiors, floor plans and fantastic location. When you get up in the morning and the fantastic look of the sea comes into your eye, it makes your whole day cheerful. These things pulled out more and more towards it. Lots of Foreigners have come to Singapore to buy condos for just a safe and profitable investment.

Some interesting Facts :
– According to Singapore government data of May, 2012, a local builder sell 2,200 homes in May.
– The sales in April, 2012 is 2,487. So through these numbers you can see that more and more people investing their money in condos.

The condo provides every facility so people attract more towards it. The prices are also increasing day by day so people always get profit when they sell the condo. So investing in a condo is a safe way to make your money more valuable.

Is Automated Trading Realistic for the Individual Trader

As an individual professional trader you have some fantastic advantages in the markets over institutional traders and long term investors; however you also have a number of areas where the odds are stacked against you. Two of the major stumbling blocks have been budget restrictions and limited resources.

The large institutional traders have huge budgets for research and development as well as programming and technology. Retail traders are subject to the limitations of their own time and ability. As a retail trader you rely on your own ability to trade error free and are hindered by your time restraints. You don’t have the luxury of handing over your positions to your Hong Kong or London trading desks when you head off to bed. In order to succeed at trading you need to focus on your advantages and minimise the weak areas. One of the best ways of minimising the weaknesses faced by an individual trader is to incorporate automated trading into your strategy to eliminate most of the problem areas faced by independent traders.

Automated trading systems were first developed and used by large institutional market participants but with the development of advanced trading platforms available to individual traders, the world of automated trading strategies is now open to the retail trader allowing him or her to compete on an equal footing with the large banks and institutions.

Electronic trading platforms such as Ninjatrader and Metatrader, available to the retail trader to trade foreign exchange via their broker of choice, has revolutionised trading for individuals. These programs allow end users to write their own automated trading plans and Forex trading systems. You can automate trading in very much the same way as the institutional traders have been doing for some time to gain an edge over the market.

These platforms have proprietary scripting languages, which enable individual traders to develop their own scripts, indicators, money management systems and ultimately automated trading systems. Due to the fact that these languages are open source there is a large community of developers sharing systems, ideas and expert advisors with other individual traders. This sharing of ideas, research, knowledge and coding allows traders to learn and improve their trading results.

However, this still left the retail trader with the need to learn a programming language and development skills which takes many hours of learning as well as a process of trial and error. Costly errors could be made in the process especially if you are not an experienced programmer to start with. With the advances in trading software the process of developing an automated trading plan for those not experienced in programming has become significantly more user friendly. The building of your own system is also well support through modern software trading programs by allowing us to fully adjust and backtest our system before running it in a live account.

Automated trading on the Futures or Forex market is the process of running a computer derived program through your preferred trading software platform. You as the individual trader use the in-built wizards to set your trading system rules and the software will automatically execute your plan day and night as if you were sitting in front of your screens constantly. The key advantages of this are numerous.

Your trading plan running automatically through your trading software does not need to sleep and does not make mistakes. So you have 24 hours of error free, stress free trading. Its a dream come true for retail traders who can now compete on a level playing field.

Why Investing Your Money For A Property In Manchester A Wise Decision Investment Property Finders

Property investment is one of the growing businesses that most people are venturing into. Many people refuse to realise why investing in a real estate property can give them more benefits than they can ever think about. Here are top reasons why investing a property in Manchester and seeking the right investment property finders in this very minute will be wisest life changing decision you will ever make.

Capital Gain

This is the number one reason why most starting entrepreneurs invest in a property. This is because real estate properties will always give you returns in the long run. As the property market value increases with development and renovation plus the additional marketing strategies, you can skyrocket your propertys value up to two to threefold. The increasing value of your property is called capital gain, and this is considered the number one source of cash flow from large businesses. Companies like Manchester property finding services will aid future property owners like you by getting you closer to customers. A survey revealed that about 50 percent of the income of large entrepreneurial schemes come from real estate property investment alone, further revealing that these wealthy businessmen are buying properties every year for future investments. Why not start today?

Rental Property Investment

This is another reason why many people are beginning to get interested in buying real estate properties. Rental property can be your starting business as about 85 percent of Americans opt for a rental property some time every year. An article about investing in real property dubbed property investment as a forced retirement plan because it can give more in the long-term with the proper development and care. Having a real estate property will boost your portfolio, and you know by now that a diverse portfolio is the key in building true wealth.

Invest in Your Home

If you are thinking about investing a real estate property for your family, then you are still in the right path. When will the best time to provide the best, most comfortable and decent living arrangement for your family? You are right when you are thinking that it is this very instant. Home will be the most valuable investment you will ever have and 100 percent guarantees that it will not be regarded anywhere near a bad decision. If you want to relocate or discover a whole new living space, then get the best investment property finders and invest for the future of your family.

How Pinnacle Property Finder Can Help You

You can take that sigh of relief when you entrust your home buying to a company renowned for making the best home buying decisions for customers; Pinnacle Property Finders. They are an established company spanning a dedicated team of home experts from Spain, France, USA and other countries. If you are uncertain of the right things to look for when buying a property, it will always go easy with Manchester property finding services because they are expert in understanding the buying scheme, developing a property, renovation costs, budgeting, design, project management and other real estate issues.

Pinnacle Property Finders is a Manchester-based company that employs an enthusiastic team of marketing and design staff that travels all over the world, putting value to the buyers money. If you are looking forward to your ideal home or you are planning to relocate, let Manchester property finding services do all the work for you. Visit Pinnacle Property Finder now or call them at 020 3397 9144.

The Difference Between A Reverse, Or Negative Amortization Mortgage And A Reverse Mortgage

There is a lot of confusion between the terms “reverse amortization mortgage” and “reverse mortgage.” Compounding the confusion is the fact that the word “amortization” is probably the hardest word in the English language to spell. It is commonly written by some very intelligent folks as amorazation or amerazation.

As a result, many people just leave the amortization part out, and do web searches for reverse mortgages when really what they want to find out about, and hopefully learn to avoid, are negative amortization mortgages.

On the other hand, some people may be interested in a reverse mortgage, but end up being solicited by a throng of crazed mortgage brokers who want to sell them a negative amortization mortgage.

Let’s see if we can help lift the fog on these confusing terms that describe a couple of very dissimilar types of mortgages.

A reverse or negative amortization mortgage

A negative amortization mortgage is sometimes referred to as a reverse amortization mortgage. With either terminology, what happens with this type of mortgage is that the principal owed on the mortgage is allowed to increase in the early stage of the mortgage. This early stage is commonly referred to as the negative amortization or negam portion of the mortgage. This negam stage usually lasts 3 to 5 years.

For example, a borrower takes a mortgage on his/her property for $300,000. Under the terms of the mortgage, he/she will be required to make the minimum monthly payment of $988.99 each month for the first 60 months, or 5 years of the mortgage. This 5-year period is, of course, the negam period. When you calculate the interest rate for this negam period you’ll find that it is 1.173%!

When the negam period ends, basically, the party’s over. Under the terms of this particular mortgage, the interest rate increases to 7.75% and that’s not all! The interest rate has been 7.75% all along, but the borrower was not obligated to pay this much during the negam stage of the loan. So, what happened was, the interest that wasn’t being paid during the negam stage was being added on to the principal of the mortgage. Now, 5 years later, the principal that was originally $300,000 has ballooned to $369,241.25!

Let’s run the numbers for the post negam or regular stage of this mortgage. The term of the mortgage is 30 years. So now, there are 25 years left for the borrower to pay $369,241.25 at 7.75%. This will require a minimum monthly payment of $2,788.99, or exactly $1,800 a month more than the borrower has been paying.

These numbers are the exact numbers taken from an existing negative amortization mortgage. There are many variations to how a negam works, but with every one, the monthly payment starts small and the principal increases in the negam period. Then, in the regular period, the required monthly payment increases, sometimes to 2, 3 or even 4 times its original amount.

A reverse mortgage

A reverse mortgage was devised to help retired people augment their income. This type of mortgage is available to people who are 62 years of age and older.

With a reverse mortgage the retiree sells off some of his/her equity in their home and can opt to receive the payment in a lump sum, as monthly payments, or as has become most common, a line of credit to be used at any time for anything.

The person taking the reverse mortgage is not required to pay anything back on the mortgage, but sometimes there is a time limit to which he/she will receive payments on the reverse mortgage.

Many times a reverse mortgage is structured where a person sells his/her equity and in return will receive monthly payments for life. Of course, in this case, after the homeowner is deceased, he/she cannot leave the equity, which has been sold in the reverse mortgage to his/her descendants. So, if all the equity has been used for a reverse mortgage, the deceased person will not be able to leave the home to anyone.

Despite that drawback, a reverse mortgage can be great tool for a retired person to use as a way to add more income to his/her pension and/or social security.

On the other hand a reverse or negative amortization mortgage was devised, in my opinion, as a way for banks and other lenders to drum up more business by qualifying borrowers who may eventually end up in foreclosure because of them.

Understanding The Robo Signing Scandal And How It Affects Your Mortgage

Have you heard about the Robosigning scandal and wonder how it might affect you if your mortgage, especially if you are looking to avoid foreclosure?
Robo-signing, a term first identified by consumer and investor advocate Nye Lavalle in 1999, refers to the automatic generation and signing of documents. In the case of the Robosigning scandal, these documents refer to Mortgage and Foreclosure affidavits and documents.

The result has been that many people may have lost their homes or been threatened with the loss of their homes without their lender having either read the relevant foreclosure documents, ascertained that the bank actually owned the mortgage, and certainly without a notary being present, although a notary seal appears on the relevant documents. This is important because they are requirements for how the system is supposed to work.

In order to begin the foreclosure process on a defaulting mortgage, lenders must, by law, be able to produce a sworn affidavit verifying that the trust (bank) owns the mortgage in question, and that the mortgage is at least six months in arrears. In fact, at every transfer of property, it is vital to establish a clear chain of title against future claims. If a clear chain of title cannot be established (or is broken) claims may be rendered void, or in the alternative a property may seem to have a clear title when in fact someone has a legitimate claim against it.

There has been testimony in recent depositions, that some lenders and trusts are robotically pursuing foreclosure proceedings against mortgage loans which they do not actually own, and that some homeowners do not, in fact, know what institution owns their mortgage, and to whom they need to pay the money required to prevent the loss of their home.

In the olden days, pre 2005, the your Local Bank on whomever you applied to for a mortgage, would hold your mortgage for the full 15 or 30 year term. Just as historically, real estate prices in the United States were driven by supply and demand, and generally tracked the rate of inflation. However, something called Securitization changed all that. A mortgage can be a rather risky asset to hold on its own and has the potential to make money for investors

Securitization means that your Local Lender sold your loan to an Investment Bank, such as JPMorgan Chase or Bear Sterns, which ‘sponsored’ the loan. These banks acted as middle men. They packaged your mortgage together with hundreds of others into Mortgage-Backed Securities (MBS) and sold these securities to investors. At the end of the U.S. real estate boom in 2005 and 2006, about 70 percent of the $6.1 trillion in mortgage lending was packaged into bonds and sold by trusts (aka banks in finance jargon) to investors.

The trust is hands-off: it hires a Servicer to collect your monthly loan payment on your mortgage, and other maintenance duties. The idea is that if you default no one company or investor is out- that risk is spread out across multiple investments

All of the signed, dated and notarized legal documentation accompanying a transfer of a mortgage should follow the loan at every step. For each round that your mortgage is sold, there should also be additional pieces of paperwork, saying the loan has been legally sold. Investors who bought MBS did so with the promise that the underlying mortgages conformed to basic underwriting standards, and that proper procedures were followed in the chain of securitization. But we are now finding out that they weren’t.

Why is this important? Let’s say you get sick and can’t work so you are unable to make your mortgage payments. Eventually, the Servicer comes knocking: “You haven’t paid us. We want our money or this house.” To support the complaint that the mortgage hasn’t been paid, the servicer must have an affidavit that verifies the trust actually does own the mortgage, and thus is owed six months of payments. The Servicer starts foreclosure proceedings.

In order to do so, someone at the Servicer company had to personally swear on an affidavit in front of a notary that the mortgage’s ownership had been verified (and was owned by the Servicer’s principal) and that you, the homeowner, owed back mortgage payments. This process is supposed to be done for each and every foreclosure.

And that is the problem. With all the foreclosures from the financial downturn, “robo-signers” from the banks were robotically signing off on literally hundreds of thousands of affidavits. And this is where the verification process loses its credibility.

First, the servicer’s robo-signer signing off on these affidavits may not have been checking every single one to see that the trust indeed owned the mortgage note. Second, the notarization was not conducted by a human being who verified that the information was what it purported to be, but was done electronically.

Bryan Bly a “robo- signer” at Nationwide Title Clearing Inc. (which helps banks with paperwork), signed his name on an average 5,000 mortgage documents a day for companies such as Citigroup Inc. and JPMorgan Chase & Co. Of course, Mr. Bly wasn’t sitting at his desk signing his name. Nationwide Title employs a computer system that automatically inserts a copy of Bly’s signature on thousands of digital files that he never saw. The system also affixed an electronic notary seal.

What does this mean for you now that you are jobless with health problem riddens? You don’t know who owns your mortgage, which means your payments could have been going to the wrong company. And now that you’re in trouble and need help, such as a loan modification, you don’t know which company to turn to. Worse, if the original sale of your mortgage was never processed correctly and never verified at each step it was sold, then the trust cannot lawfully claim that it owns that mortgage.

Lawsuits fighting some of the more than 4 million foreclosures since 2006 have exposed sloppy recordkeeping and raised questions about the validity of documents used to seize properties. So when the Servicer starts foreclose proceedings on your home, does it have the authority to do so? Not if the loan was not correctly sold at each and every step. We now know so many of these parties foreclosing have no contractual right to foreclose. And, the plot thickens.

The “robo-signing of affidavits and Assignments of Mortgage and all other mortgage foreclosure documents served to cover up the fact that loan servicers cannot demonstrate the facts required to conduct a lawful foreclosure. If it turns out that robo-signers did indeed sign off on loans without review, they committed fraud by claiming knowledge of a financial matter of which they had no personal knowledge. It could also mean that some people have been wrongly evicted from their houses because the foreclosure is based on fraudulent documents.

A second problem has been the lack of original paperwork required by judges in foreclosure proceedings. At JPMorgan Chase & Co. from 2005 to November 2008, about a third of foreclosure files were missing mortgage assignments. Servicers would often write new assignments when judges requested proof that the party seeking to repossess a property had the right to do so.

The foreclosure crisis opened up this process to scrutiny, as banks claimed to have lost thousands of promissory notes and were instead showing judges “copies.” Missing or incomplete paperwork has forced lenders to routinely recreate documents to show courts they have standing to seize properties.
To the extent that these transfers are not “copies” but new documents and were completed retroactively, raises issues about honesty in the creating and dating of the assignments/transfers and about what parties can do, if anything, if an entity in the securitization chain, such as Lehman Brothers or New Century, is no longer in existence. So another legal issue for the courts, centers on whether assignments can be created to show transfers between banks that happened years earlier.

Spurred by descriptions of these practices in depositions of employees involved in robo signing and the potential for abuse, the attorneys general in all 50 states last month opened an investigation into whether banks and loan servicers used false documents and signatures or improper practices to justify hundreds of thousands of foreclosures.

Several large banks like Bank of America, GMAC, JPMorgan Chase and Co have all suspended foreclosures or evictions in recent weeks after these allegations surfaced of shoddy loan documents in foreclosure cases. Citigroup, another large player had failed to do so, but has been ordered by a federal court to defend a lawsuit alleging that it foreclosed using questionable documents.

If you are facing foreclosure or are considering options to avoid foreclosure, the most important thing is to realize that you have options and not give up hope! Then contact an attorney licensed in your state who has experience with loan modifications, short sales and other avoiding foreclosure options. Or you can contact me at [emailprotected]

Suze Orman Should You Pay Down Your Mortgage

Suze Orman says that people who advise against paying off a mortgage early are wrong. In an NBC interview with Matt Lauer on NBC Today show, Suze Orman says that paying off a mortgage early is the best thing a homeowner can do with their money. She counsels that for most people their home is their most important asset, and should be protected against the risk of loss.

Suze Orman cautions that brokerage companies and stock market analysts have a vested interest in convincing people to invest their money in the stock market. She says that she is always suspect when companies having a vested interest in promoting investments say such things.She also cautions that stocks are not safe investments, and that for homeowners with a mortgage, they are better off paying off their mortgage with extra money instead of investing it in a risky stock market that could lose value.

Suze orman says that maintaining a mortgage while investing in the stock market is too much of a risk. She also points out that most poeple only stay in a home for seven years and that mortgages are front loaded with interest, so that after 20 years, more than half of the original mortgage balance still remains due; and because most of the interest is paid in the early years, there are little or no tax write offs in the last 10 years.

Suze Orman also points out that a homeowner needs about $400,000 earning about 5% to pay off a $200,000 mortgage. After taxes, the investment return would be enough to pay the annual mortgage interest. The problem is that if the investment loses value in the stock market, the investment income will not be enought to pay the amount due on the mortgage.

All homeowners should follow Suze Orman’s advice to pay off their mortgages quickly. The fastest way to pay down a mortgage is with a mortgage accelerator. Mortgage accelerators are little known in the United States but have been used around the world for many years. The average homeowner can pay off their 30 year conventional mortgage in as little as 10 years using a mortgage accelerator.

Mortgage accelerators are very effective and are used worldwide by millions of homeowners. The most effective mortgage accelerator is one developed in Australia. If more people knew how powerful mortgage accelerators are, virtually every homeowner would use them.

Another advantage of using mortgage accelerator is that they save time in the homeower’s peak earning years. This allows the homeowner to pay off their mortgage in about 10 years, and then apply their money to their retirement account because they are no longer encumbered with monthly mortgage payments.

Using a mortgage accelerator in this type of financial plan, many homeowners will be able to have a retirement account of about one million dollars. This is due to the fact that they will be making large monthly contributions to their retirement accounts and the money will have many more years over which to grow. It is a certainty that if people followed Suze Orman’s advice and used a mortgage accelerator, many more people would be able to retire with more money and also not have a mortgage and have to make mortgage payments.

Various Uses Of Mortgage Calculators

Much like common mathematical calculators, a mortgage calculator is a small handheld device to compute the total payment of a mortgage loan, including principal, interest, taxes and insurance with relation to the repayment schedule such as quarterly, monthly or biweekly. The instrument can also used to calculate the amortization schedules, balance on the mortgage taken, and the future value of a mortgage. Not only that, some mortgage calculators have rent-versus-buy features to analyze which of these two options would be better in the long term. Most mortgage calculators also do currency conversions and tax calculations.

A calculator can come in quite handy, since you can take it with you to meetings with your realtor or builder, to crunch the numbers as you go through the purchasing process. The Internet will provide the easiest use of a home mortgage calculator, since you can simply punch in the information necessary, and the computer will do all of the hard work for you.

The keys are similar to ordinary mathematical calculators having numeric keys from zero to nine. Similarly, there are related symbols for functions such as addition, subtraction, multiplication, division, percentage and so on. They have integrated circuitry within their bodies and are operable with one or two 1.5-volt pencil cells. Since mortgage calculators are used for quick calculations, their buttons are usually larger in size than normal calculators. Depending on the quality and various features, they may be priced between 10 to 50 UK pounds.

To use a mortgage calculator, you simply need to know the approximate purchase price of the home that you are interested in, and the current rate of interest available for a loan in that amount. You can find out how much your monthly mortgage payment will be, which will give you an idea of how much house you can afford. You can also use a mortgage calculator to determine the annual income that will be required to purchase a home in a particular price range. To utilize this type of mortgage loan calculator, you will need to know the amount of your monthly expenses, as well as the purchase price of the loan and the interest rate.

There are plenty of commercial mortgage calculators on the web which you can use free of charge. All you need to know is your mortgage amount, the down payment, interest rate, and the number of years. You will get your monthly payment calculated for you by simply putting those numbers into the commercial mortgage calculator. Often, companies will create free tools for you to post on your website in exchange for a small link back to them. This will save you time and money in creating your own web tools or calculators, which can often be expensive. There are any numbers of websites on the Internet that will provide this service for you, and a number of calculators that you can purchase that will provide this functionality.

Thus, a mortgage calculator is an efficient tool to help you calculate how much money you can afford to pay on a mortgage and to have a price range in mind before searching for a suitable home and loan option. If you are thinking of refinancing your current mortgage loan, a mortgage calculator can be a great tool for you. For this, you need to know what your existing mortgage loan balance is, the current commercial mortgage interest rate, and number of years you wish to refinance your commercial mortgage loan.

Online Amortization Schedules

Online amortization schedule calculators are some of the best online available. They are web-based, so they do not need additional software or applications. Amortization schedules can be calculated immediately online on one of their web pages.

Ewmortgage.com is a mortgage advisor website that features a Java-based interactive amortization table (http://www.ewmortgage.com/mortgage/), and other mortgage-related applications such as APR/front end calculator, 5/25 and 7/23 balloon convertible mortgage calculator, car leasing payment calculator, monthly payment table generator, income qualification calculator, nominal and effective interest rate calculator, etc.

Realdata.com, real estate investment and development software developers, offers a web-based amortization utility (http://realdata.com/ds/amort2.shtml) and a Microsoft Excel version (http://realdata.com/ds/amort.xls) that can be downloaded for free. The web tool is Java-based so you need to enable JavaScript in your browser.

Calculators4mortgages.com also has a Java-based Amortization Schedule (http://www.calculators4mortgages.com/Calculators/Amortization-Schedule/amortization_schedule.html) that calculates the monthly payment of a specific loan and breaks down the amount of principal and interest paid over the term of the loan.

HSH Associates (http://www.hsh.com/calc-amort.html), a consumer loan information website, features an amortization calculator to generate an amortization schedule (by month or by year), as well the monthly payment for a mortgage paid either monthly or bi-weekly. It is also capable of demonstrating the effects of prepaying your mortgage on an irregular or regular basis. There is also a JavaScript version available.

Century21.com, a real estate website, lets you calculate amortization schedules and save, and email the result or amortization table. However, you need to register to use the save and email features. Registration also allows you to store your search criteria, file agent information and build a custom library. Entry method is standard such as loan amount, interest rate, loan term and monthly payment.

All You Need To Know About Government Mortgage Help Plans

Government Mortgage Help Plan has been created by the United States government to offset the destabilization in financial system. The mortgage meltdown has created overall financial instability and has left millions at the doorstep of foreclosure. Many people have become homeless and this has severely damaged the economy. But help is still available for those who are at risk of losing their homes. The historic crisis of 2007 and 2008 has caused thousands of loan modification companies to come forward and help the struggling homeowners. This article take a closer look at what all can be done to take advantage of government mortgage programs.

Mortgage crisis is basically a result of defaulting on mortgages by homeowners, and as a result, losing their homes. The common mortgage programs have been specifically designed to address the growing number of foreclosures that are happening all across the country. According to FDIC Chairman, in absence of a significant government homeowner aid package, the mortgage meltdown may even cause four to five million foreclosures. The homeowners plan is made to put some direction and structure to the loan modification process, which until now has been largely unstructured.

Function Of Mortgage Programs

There are many homeowners who are not sure of the procedure by which the mortgage can be modified. According to the program, if you’re eligible for the mortgage help, your lender should be able to work out a lower payment such that you have to pay not more than 30 percent of your monthly household income. The government has also offered another 7 percent subsidized reduction so that the mortgage payment comes down to 31 percent of your total monthly household income.

Types Of Mortgage Programs

There are different kinds of mortgage help programs. The most common method is asserting on reduction of rate of mortgage so that a lower monthly payment can be achieved. According to the Hope for Homeowners plan, the rate of interest can be lowered up to 2 percent in order to reach a lower monthly payment. According to another program, the principle is reduced so that the homeowner pays significantly less balance as compared to what is owed as a loan.

The average time frame for loan modification is from 60 to 90 days, whether it is done through a government mortgage help plan or independently through a bank. In this time, the process of foreclosure is halted and modification eligibility is determined.


The loan modification industry is undoubtedly a loosely regulated sector. There are many states that do not have specific rules according to which a person is termed as eligible. Because of this, there are countless situations where a desperate homeowner has been preyed upon by deceitful individuals. It is recommended that the mortgage help seeker should first find out all the information relating to mortgage help plans and the procedure of application. There many websites that provide valuable and free guidance on how to take part in government mortgage help plans.