Mortgage

New Bedford, Mass.– Congressman Barney Frank and Mayor Scott W. Lang co-sponsored a forum on foreclosures on Monday, June 30, 2008 at the UMass Dartmouth Continuing Education building in New Bedford. The purpose of this event was to discuss the size and scope of the foreclosure problem in New Bedford; as well as the contributing factors and the impact on affected parties, including homeowners, tenants, neighborhoods and families. 

Business Week’s cover story of September 11, 2006, “Nightmare Mortgages,” highlighted key problems facing some residences with certain adjustable and option rate mortgages. The story discusses “The promise of the American Dream: A home of your own at rates and payments anyone can afford,” and goes on to say, “What banks don’t tell you is why they love option ARMs. No matter how small the initial payments, full revenue gets booked now. Meanwhile, borrowers owe more every month. For many, the trap has already begun.”

What determines your credit rating? Do you know what to watch out for to protect your credit? What adjustments can you make to improve your credit score? This feature will highlight the five keys that affect your credit score. Read on, you may be able to make some adjustment today!

Get the government to help pay your mortgage. I recently helped first time home buyers in New Bedford, Massachusetts use this method and they now own a single family home in Acushnet, Massachussetts.

If you are beginning to struggle with payments and fear you may become late, consider the following BEFORE becoming delinquent.

If you had enough money to pay off your mortgage, would you? Many people would. If the “American Dream” of owning your home outright with no mortgage is so wonderful, why do thousands of financially successful people —who have more than enough to pay off their mortgage — refuse to do so?

Did you know that many mortgage companies say they can give you a loan at a great rate - but can they really? There are some companies that have bad reputations for saying just that - but when it comes down to it - they will assuredly give you a denial letter at the very last second shattering your dreams to buy that very home you found! -- And sometimes just days before closing on it!

It’s not about rates. It’s about what your credit score, credit, and payment history can do for you. Rates play a smaller role in your application for a mortgage than you think.