Comments for MortgageFit Blog http://www.mortgagefit.com/blog Behind the scene Sun, 22 Nov 2009 05:47:27 +0000 http://wordpress.org/?v=2.5.1 Comment on Walking away from mortgage - How will it affect you? by juanita http://www.mortgagefit.com/blog/walkaway-affect/#comment-17394 juanita Fri, 20 Nov 2009 09:17:53 +0000 http://www.mortgagefit.com/blog/?p=129#comment-17394 Keeping in mind the credit effect and the tax penalty, I feel it's better to go for other options rather than walking away from the property. If one wants to get rid of the property, then he or she may go for short sale or deed in lieu of foreclosure. Though there would be credit effects, they won't be as drastic as walking away from the property. Keeping in mind the credit effect and the tax penalty, I feel it’s better to go for other options rather than walking away from the property. If one wants to get rid of the property, then he or she may go for short sale or deed in lieu of foreclosure. Though there would be credit effects, they won’t be as drastic as walking away from the property.

]]> Comment on Why do I need a will? by jeremy http://www.mortgagefit.com/blog/will/#comment-17305 jeremy Fri, 13 Nov 2009 11:18:34 +0000 http://www.mortgagefit.com/blog/?p=125#comment-17305 I didn't knew that drafting a will can be so beneficial for my heirs. I always though that if I leave back a will, my heirs will have probate it which would cost them lots of dollars. Now I understand that if I don't leave back a will, my heirs would have to pay further more in the form of administrative bonds. I didn’t knew that drafting a will can be so beneficial for my heirs. I always though that if I leave back a will, my heirs will have probate it which would cost them lots of dollars. Now I understand that if I don’t leave back a will, my heirs would have to pay further more in the form of administrative bonds.

]]> Comment on Foreclosure: Do mortgage servicers make more money out of it? by rebecca http://www.mortgagefit.com/blog/foreclosure-servicers/#comment-17131 rebecca Sat, 07 Nov 2009 08:42:26 +0000 http://www.mortgagefit.com/blog/?p=123#comment-17131 In my opinion, only suggestion of steps to encourage modification won't help. Strict actions should be taken so that these steps become reality so that more people can avail the benefits of loan modification. In my opinion, only suggestion of steps to encourage modification won’t help. Strict actions should be taken so that these steps become reality so that more people can avail the benefits of loan modification.

]]> Comment on Tax credit for first time homebuyers – Could it get extended? by Joe http://www.mortgagefit.com/blog/taxcredit-extended/#comment-17127 Joe Sat, 07 Nov 2009 06:51:39 +0000 http://www.mortgagefit.com/blog/?p=109#comment-17127 The tax credit has finally got extended. :) And the best part is that it got expanded too. The senators have finally agreed to extend the first time homebuyer's tax credit till April 30, 2010. Apart from the $8000 tax credit for first time homebuyers, the current homeowners who have maintained their property for the five of the last eight years, are also eligible. The maximum amount for existing homeowners is $6,500 for married couples and $3,200 for those filing separately. The tax credit has finally got extended. :) And the best part is that it got expanded too. The senators have finally agreed to extend the first time homebuyer’s tax credit till April 30, 2010. Apart from the $8000 tax credit for first time homebuyers, the current homeowners who have maintained their property for the five of the last eight years, are also eligible. The maximum amount for existing homeowners is $6,500 for married couples and $3,200 for those filing separately.

]]> Comment on Can your mortgage disappear? by Adonis http://www.mortgagefit.com/blog/loan-disappear/#comment-16966 Adonis Mon, 02 Nov 2009 02:19:53 +0000 http://www.mortgagefit.com/blog/?p=122#comment-16966 Wow! The mortgage simply disappears if the lender cannot prove it??? That's really great to know. But I guess it won't help much. Yeah – it's always good for the borrower who would own the property free and clear but the mortgage market would go into a slump. I agree with you that the courts should come up with a balanced decision which will help the borrowers as well as let the lenders survive in these hard days. Wow! The mortgage simply disappears if the lender cannot prove it??? That’s really great to know. But I guess it won’t help much. Yeah – it’s always good for the borrower who would own the property free and clear but the mortgage market would go into a slump. I agree with you that the courts should come up with a balanced decision which will help the borrowers as well as let the lenders survive in these hard days.

]]> Comment on Transition into retirement: A checklist of things to do by Joe http://www.mortgagefit.com/blog/retirement-checklist/#comment-16518 Joe Fri, 23 Oct 2009 09:29:50 +0000 http://www.mortgagefit.com/blog/?p=120#comment-16518 I believe planning for retirement is a lifelong process. The sooner you start planning for your retirement, the better for you. Accumulating emergency funds right from the beginning of your professional life will help you in the long run. I agree with you regarding the healthcare options as well. It is very important to plan about how you would be paying your medical bills in the future when you won't have a regular income. I believe planning for retirement is a lifelong process. The sooner you start planning for your retirement, the better for you. Accumulating emergency funds right from the beginning of your professional life will help you in the long run. I agree with you regarding the healthcare options as well. It is very important to plan about how you would be paying your medical bills in the future when you won’t have a regular income.

]]> Comment on Reverse Mortgage: The next subprime disaster? by jenny http://www.mortgagefit.com/blog/reverseloan-disaster/#comment-16413 jenny Thu, 15 Oct 2009 09:55:40 +0000 http://www.mortgagefit.com/blog/?p=118#comment-16413 It is quite an alarming fact that some of the lenders are now trying to scam seniors who are planning to take a reverse loan. I hope that the Federal and state governments would develop a sensibly priced and reasonably planned loan package so that those seniors who truly in need of it are protected from the abusive lending practices. It is quite an alarming fact that some of the lenders are now trying to scam seniors who are planning to take a reverse loan. I hope that the Federal and state governments would develop a sensibly priced and reasonably planned loan package so that those seniors who truly in need of it are protected from the abusive lending practices.

]]> Comment on New Credit Card Reforms effective from July, 2010 by Sara Jones http://www.mortgagefit.com/blog/creditcard-reforms/#comment-16375 Sara Jones Mon, 12 Oct 2009 10:25:49 +0000 http://www.mortgagefit.com/blog/?p=99#comment-16375 Good news for consumers :) and bad news for card issuers - it was announced that the CARD Act provisions may come into effect from December 1, 2009 instead of February 2010. If the credit card rules come into effect from December, the card holders would be saved from adverse change on their credit card rates and terms. This will also help the consumers to not to over charge their credit limits during the festive season. Good news for consumers :) and bad news for card issuers - it was announced that the CARD Act provisions may come into effect from December 1, 2009 instead of February 2010. If the credit card rules come into effect from December, the card holders would be saved from adverse change on their credit card rates and terms. This will also help the consumers to not to over charge their credit limits during the festive season.

]]> Comment on Jumbo Mortgage rates down but lending rules gets tighter by traci young http://www.mortgagefit.com/blog/jumbo-criteria/#comment-16353 traci young Sat, 10 Oct 2009 15:18:19 +0000 http://www.mortgagefit.com/blog/jumbo-mortgage-rates-down-but-lending-rules-gets-tighter/#comment-16353 I found this information very helpful. It is great info and I added it to my list. Look forward to reading more from you in the future. I found this information very helpful. It is great info and I added it to my list. Look forward to reading more from you in the future.

]]> Comment on Interview with George M.Akerly – Awarded the highest mentor dollars by Savior http://www.mortgagefit.com/blog/interview-gmakerly/#comment-16351 Savior Sat, 10 Oct 2009 12:47:16 +0000 http://www.mortgagefit.com/blog/?p=116#comment-16351 Hi, Great going, George! 6000+ posts and mentor dollars worth of $775!! Simply remarkable!! Answering 6000+ posts and replying to queries of numerous people does require a lot of expertise in the field of mortgage and your extensive experience speaks for that. You have got a vast experience and knowledge about this mortgage industry. It is always a pleasure to have an active member like you in the community. Insofar as your views on the present market scenario is concerned, I think it is true that a turn around is not exactly round the corner. The market is yet to recover from the shock of sub-prime mortgage crisis. We have seen innumerable foreclosures, thousands job-cuts and subsequent defaults on mortgage loans in the past few months and that is not it. Industry experts have already predicted a fresh set of foreclosures as a result of adjustments to a lot of ARM loans, offered by sub-prime mortgage lenders, in the coming months. So, there seems to be no respite in sight at least before mid-2010. Hi,

Great going, George! 6000+ posts and mentor dollars worth of $775!! Simply remarkable!!

Answering 6000+ posts and replying to queries of numerous people does require a lot of expertise in the field of mortgage and your extensive experience speaks for that. You have got a vast experience and knowledge about this mortgage industry. It is always a pleasure to have an active member like you in the community.

Insofar as your views on the present market scenario is concerned, I think it is true that a turn around is not exactly round the corner. The market is yet to recover from the shock of sub-prime mortgage crisis. We have seen innumerable foreclosures, thousands job-cuts and subsequent defaults on mortgage loans in the past few months and that is not it. Industry experts have already predicted a fresh set of foreclosures as a result of adjustments to a lot of ARM loans, offered by sub-prime mortgage lenders, in the coming months. So, there seems to be no respite in sight at least before mid-2010.

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