Hello friends,

It’s my pleasure to inform you that we’ve introduced a new look for MortgageFit to ensure a user-friendly online experience for visitors and members. We have simplified our navigation and highlighted various sections which would make it easier for the users to access information from the website.

The various sections on the homepage like - Mortgage Quote, Calculators, Forums, Ask Question and Lenders have been highlighted and given a new look. Apart from this, it has now become easier to navigate the forum section as it comes along with a drop-down menu. So, you can easily choose a category wherein you plan to post your query or participate in discussions.

We’ve shifted and highlighted the search option at the top right corner of our homepage. Members can search information regarding various topics using this option. The new look will also give the users an easy access to the Members Area which helps users to login as a members or join the Community and enjoy the benefits of being a member.

The makeover comes along with a new section - National Average Weekly Mortgage Rate has also been highlighted on the homepage. Members will be able to check out the current mortgage rates as well as last week’s rate. This section will further take you to a graphical representation of the mortgage rates.

The “Ask the Community ” section has been made more prominent in home page, thus making it more visible to the members.

At the right hand side of the homepage, we have highlighted various sections of our website including MortgageFit Blog wherein you can find the recent happenings in the community as well as financial information.

Hope you like the new design of MortgageFit. Feel free to offer your suggestions regarding our new design.

Hi All,

It’s my pleasure to inform you that one of the MortgageFit members, Ken Lambert just received US Patent status for his mortgage product – Alternative Mortgage Fund (AMF) which would hit the market in the next 6 months.

The AMF was created and developed by Ken Lambert Mortgage Enterprises LLC.  This mortgage product would not only benefit the consumers but also the lenders by helping them expand their market, share revenue and profits.

Alternative Mortgage Fund is considered as a challenge to the 30 year conventional loans. It is a mortgage product which would help borrowers to pay off their loans faster than the conventional mortgage. Also, it would not result into any kind of additional costs for the borrowers and would help increase equity in their homes. According to the U.S. consumer direct surveys, around 19% of the current mortgage customers are willing to switch over to AMF if it is available in the market.

When compared to bi-weekly mortgage plans, AMF would help borrowers to save around  $15,000 under normal market situations. This product is also being considered as less volatile than the other adjustable mortgages available in the market.

Ken Lambert Mortgage Enterprises LLC is presently looking for potential lending partners (banks or mortgage companies) for the licensing and sales of AMF. However, the said LLC would be the exclusive user and seller of the AMF.

After years of overbuilding, over-investing, quick-flipping, and credit over-extension, we are now facing the real estate crisis - a crisis which has been created due to our own faults. As a result, the real estate market has been re-priced. Now, it’s high time that we go back to the fundamentals of mortgage and follow them to save ourselves from further crisis.

Here are 5 tips which you may consider before you take a mortgage for your dream home:

Down-payment: If you are planning to buy a property, it would be a smart move if you start saving from today. A large down-payment of around 20% will help you in getting better interest rates and lower payments. You will also be able to build some quick equity in your property and thus can refinance the loan at a lower rate in the future.

Long term loans: This is not a good time for buying a property for quick flipping. No one knows when the real estate market would be revived. Venture into the real estate market only if you want to stay in that property for a longer period of time.

(more…)

We are happy to announce that the Community has rewarded 8 valuable members with the ranks “Community Mentor” and “Community Experts“.

Sam (Site Admin of MortgageFit) along with Team has reviewed the members’ participation and come up with the short-listed members. While short-listing, the Team tried to filter members on the basis of defined criteria, the members’ quality and his intention of sharing information.

MortgageFit Community Mentors:
George M. Akerley Mortgage Consultant First Horizon Home Loans Bloomfield, Connecticut
Jessica Bennet Financial Writer MortgageFit Ohio
Samantha Taylor Financial Writer MortgageFit Massachusetts
MortgageFit Community Experts:
Eugene Volovik Account Manager Team USA Mortgage Minneapolisticut
Michelle Keck Mortgage Consultant Mortgage Network Solutions
Charles “Chuck” Armbruster Loan officer Lifetime Mortgage LLC Mesa, Arizona
Robert Enriquez Sr. Mortgage Consultant North Carolina Mortgage Charlotte, North Carolina
Cedric Kalvesmaki Mortgage Broker Freedom Mortgage Dallas, Texas

From now onwards, we are going to open this challenge to our moderators, who will decide upon the upcoming community mentors and community experts. As a community, we are looking forward to get their valuable contribution in future too.

[tags]community mentor, community experts[/tags]

Hi All,

Having a good credit record is a primary factor for getting some of the best mortgage offers. But in today’s market, one of the major concerns for those looking for mortgage is having bad credit.

Due to low score or negative remarks on credit report, sometimes it’s simply not possible for us to get a mortgage and fulfill our dream - that of having a Sweet Home. And even if we get an offer, the rates and fees are too high.

So, all you do is to leave aside your dream home just because you don’t qualify to be the most creditworthy borrower! Or else you take out loans with higher rates and payments and then like many out there end up in foreclosure which seems to be rising day by day.

It’s time now to wake up and start thinking on it. By this I mean, we need to think twice if we’re looking to get mortgage and our first job then will be to check our credit status and start analyzing what went wrong or how we can make it even better.

“Oh no! How could you analyze it? You are not aware of any tips and traps of making your credit better” – This is what you may think and frankly speaking this is what I often used to think.

For all those having credit issues, there’s nothing to worry about! MortgageFit Credit Repair Tool is your solution.

MortgageFit has come up with a tool “Credit Repair Tool - Analyze and fix your Score“.Here you can start analyzing your credit report yourself and get valuable suggestions to repair all your negative remarks for 5 main sections that can bring down your score by several points:

1. Bankruptcy
2. Charge-Off
3. Collection
4. Judgment and
5. Late Payment/Delinquency.

So what are you thinking? Let’s start analyzing your credit! And while you do so, don’t forget to leave behind a comment stating how this tool helped you.

[tags]credit repair tool, credit analyzer, improve credit score[/tags]

Hi All,

Today we have come up with our Industry News section with a new look and after fixing some logical bugs.

Now the community members can share any mortgage news or latest happenings in the mortgage or finance industry from any news site or blog.

I personally feel, it will give a platform to financial bloggers who can share their interesting blog posts covering industry happenings with a large community and collect their comments.

And the members who don’t have their own blog can also share any new site or other blogs covering latest industry happenings with the community.

So, let’s make our community aware of the latest in finance!

This time we have done something for the industry. People do look for resources from where they can syndicate content for knowledge and information.

We have redefined our syndication process for better use. We have implemented through javascript. Now you have less code to copy. Example can be found at http://www.mortgagefit.com/syndicate/

Country Specific Sites

We are also launching MortgageFit to 2 others countries (UK and Canada). Our plan is to spread our services across the globe so that people can take benefit of our community services. We have given separate sub domains to all the countries and soon we will see MortgageFit giving services in all the countries.

Recent Launches

• Blogs

MortgageFit has launched its own blog for its community members. You can develop your blog just the way you like it. Our blogs can be used as personal diaries and most important is they don’t have to go anywhere if they are interested in making blogs.

• Wiki

It’s a user friendly system through which you can expand your knowledge on a particular topic of interest. You can write as well as edit the existing content in our wiki.

• Modernized Cache System - NEW

Our newly developed cache system is intended to make MortgageFit faster. Our community is increasing and so as the expectations. We need to live to the thoughts by giving quality services and our new cache system is one such effort towards it. This system will make our website faster. It’s working on the concept of 404 handlers. On the its functionality part i will discuss it later.