Doug MacLeod is a Reverse Mortgage Consultant serving the state of WI. Learn what a reverse mortgage is and the facts behind these great mortgage programs at www.ReverseMortgageWI.com 5 of 5

An FHA loan is a government backed loan the allows a client to get into a property with as little as 3 percent money down. Find out what factors affect FHA loan qualification, including income and credit history, withhelp from a financial specialist in this free video on home loans and money management. Expert: Matthew McKillen Contact: www.innovativefg.com Bio: Matthew McKillen has more than 21 years of industry experience in arranging loans for his clients. Filmmaker: Christopher Rokosz

Plant A Man .. Got My Mojo Working (Muddy Waters) …


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Recorded at the Newport Jazz Festival 1960. This is the full lengh version of Muddy waters Got My Mojo Working

…..item 1)…..youtube video…..Got My Mojo Working Muddy Waters full version newport jazz….7:01 minutes….lewisldurham

www.youtube.com/watch?v=FhTCYqJsfqs

Category:
Music

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Newport Jazz Fesitival Got My Mojo Working 1960 Muddy Waters Blues Chicargo

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First Person: Am I Headed for Financial Ruin? Signs that you are headed for financial ruin are as obvious as signs on the highway, but many people get distracted when it comes to paying attention to them.

…..item 2)…..Yahoo! Finance….First Person: Am I Headed for Financial Ruin?

Laura Cone, On Friday June 10, 2011, 6:32 am EDT

finance.yahoo.com/news/First-Person-Am-I-Headed-ac-592735…

*Note: This was written by a Yahoo! contributor. Do you have a personal finance story that you’d like to share? Sign up with the Yahoo! Contributor Network to start publishing your own finance articles.

Signs that you are headed for financial ruin are as obvious as signs on the highway, but many people get distracted when it comes to paying attention to them.

When I was in my early 20s, I made an impulsive cross-country move that left me without a steady income for about six months. I tried to ignore the signs that we were headed for financial ruin, but eventually the bills became impossible to ignore.

I have friends who have declared bankruptcy and others who have simply walked away from their bills until the debt disappeared from their credit records. It’s possible to go from being thousands of dollars in debt to having wealth, but it takes daily discipline and willingness to take financial responsibility. Here are some of the telltale signs that you are headed down the road of financial ruin, as well as some ways to make a major U-turn and prevent bankruptcy:

Buying groceries on credit

If you don’t have enough money in your checking account to purchase food and have to use credit, then you are in financial trouble. If you just use a credit card because it’s convenient, and then pay it off, that’s a different situation. I knew I had trouble when I used credit cards for pizza delivery instead of being able to pull out a . To avoid bankruptcy, start working on a cash-only basis for a while. Make a special envelope for food money. Clip coupons as well, or share extreme couponing tips with friends.

Making less income than housing expenses

If you don’t have enough income coming in to pay your rent or mortgage and utilities, consider that a sign of financial desperation. Find other ways to make extra income. Mow lawns for neighbors if you have to. Consider renting a less expensive apartment. If you own a home, refinance or opt for a short sale so that you can downsize to a more affordable living situation. Otherwise, you will face foreclosure.

Not being able to pay credit card minimum

When your minimum payment becomes so high that you can’t afford to pay it, you need to consider your options. Credit cards are unsecured debt, which means some people have no problem walking away from the bills. It’s better to take responsibility and pay off your credit cards with the debt snowball plan. To avoid bankruptcy, you need to find a way to pay the minimum payments, or call the credit card companies to work out a temporary solution.

Being overdrawn on your checking account

Some banks will allow you to be overdrawn on your checking account up to a certain amount. But being overdrawn is always a red flag that you are not living within your means. Make a commitment to have at least 0 in your checking account as a cushion. Start making sacrifices each day to save money. It’s fine to think about your monthly bills and budget, but I had to start looking at my finances daily to really reach my final, debt-free destination.

To avoid bankruptcy and prevent foreclosure on your home, make financial sacrifices early and often. Don’t wait until you see the signs of financial desperation. I have a friend who is renting out a room to ease her financial burdens. A relative is renting out his Florida winter home. There’s no shame in becoming a multigenerational household to save money on living expenses. It’s easier to navigate around financial potholes than to get out once you’re stuck.

More from this contributor:

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Six Financial Crimes We Commit Against Ourselves

www.associatedcontent.com/article/8097667/six_financial_c…
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Overcoming My Poverty Mentality

www.associatedcontent.com/article/8045917/first_person_ov…
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6 Sneaky Ways To Save 0,000 In 10 Years

www.associatedcontent.com/article/8063853/first_person_6_…
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Question by : What type of loan has the lowest closing costs?
Conventional
CA
FHA
or
Cal-vet

Best answer:

Answer by GVD
A conventional loan has the lowest closing costs because there is no Funding Fee as in a VA loan and no Up Front Mortgage Insurance Premium as in an FHA loan. This is not to say that a conventional loan is always better. There are advantages to all and each person’s situation is different. Speak to your loan officer and have them prepare different options for you to look at; they should explain which would fit you best and why.

What do you think? Answer below!

This Loan Modification Guide and Workbook gives you step by step instructions:

- Do you qualify for a Loan Modification?
- Which modification option is best for you?
- Insider Tips on how to negotiate with your lender
- How to get the right person on the phone
- The #1 thing Lenders want to know
- All the required forms and how to complete them

You can do it yourself using this easy to follow guide:
- Learn how to lower your interest rate

Price:

Debt Handling Tips and Advice

Topics included are credit reports, FICO, budgets, handling debt, deb consolidation, debt reduction with the snowball method, debt counselors, debt collectors, bankruptcy, inflation and interest, car loans, home equity loans, individual voluntary agreements, individual retirement accounts, low interest credit cards, mortgage refinance, secured loans, unsecured loans and student loans.
Topics included are credit reports, FICO, budgets, handling debt, deb consolidation, debt reduction with th

List Price: $ 4.88

Price:

Congratulations! You have entered into a contract to buy your first home, investment property, or that special vacation getaway place. The closing date is set, but now what do you do? This new book is a complete and thorough explanation of the real estate closing process and escrow. (Escrow is a neutral third party that follows the instructions from buyer and seller of the property. It makes sure that the required funds are in the escrow account before the deed to the home is recorded in the buy

List Price: $ 24.95

Price:

2010/365/147 The New Gun


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I might have Chase Bank to thank for screwing up for 2008 taxes… When I refinanced my home mortgage loan in August 2008, they never got my address right, so I only got half a year’s 1099 forms and I greatly under-reported mortgage interest and property taxes.

Fortunately (and thanks to my sister who suggested it), I was able to file a 1040x, which is an adjustment to a previoius year’s filings, and just this week I got back a nice refund check (and wiht interest!).

So I took the urge (depsite the people on twitter who said, ‘buy a new camera’) to buy a beautiful new lens- this is the Canon 300mm f/4 L, a prime lens. I found that the times I used my 18-270 zoom it was full out, and the reviews on this lens sang strong.

It’s a big gun, and I’m just learning how to fire.

Subprime Crisis No Barrier to Affordable Housing


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WP’s take:
The subprime mortgage crisis is an ongoing financial crisis characterized by contracted liquidity in global credit markets and banking systems triggered by the failure of mortgage companies, investment firms and government sponsored enterprises which had invested heavily in subprime mortgages. The crisis, which has roots in the closing years of the 20th century but has become more apparent throughout 2007 and 2008, has passed through various stages exposing pervasive weaknesses in the global financial system and regulatory framework.

The crisis began with the bursting of the United States housing bubble[1][2] and high default rates on "subprime" and adjustable rate mortgages (ARM), beginning in approximately 2005–2006. For a number of years prior to that, declining lending standards, an increase in loan incentives such as easy initial terms, and a long-term trend of rising housing prices had encouraged borrowers to assume difficult mortgages in the belief they would be able to quickly refinance at more favorable terms. However, once interest rates began to rise and housing prices started to drop moderately in 2006–2007 in many parts of the U.S., refinancing became more difficult.
Posted 14 minutes ago.

hair, nails, gifts and mortgages


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Cover shot for the "illustrated guide to the mortgage crisis"

ml-implode.com/

American Mailboxes .. Hope Street .. Foreclosure limbo: Staying without paying (June 09, 2011) …..


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Some 4.2 million mortgage borrowers are either seriously delinquent or have had their cases referred to lawyers to pursue foreclosure auctions, according to LPS Applied Analytics. Of those, two-thirds have made no payments at all for at least a year, and nearly one-third have gone more than two years.

…..item 1)…..Yahoo! Finance…..Foreclosure limbo: Staying without paying. ….. CNNmoney.com

Les Christie, On Thursday June 9, 2011, 9:45 am EDT

finance.yahoo.com/news/Foreclosure-limbo-Staying-cnnm-989…

Charles and Jill Segal have not made a mortgage payment in nearly five years — but they continue to live in their five-bedroom West Palm Beach, Fla. home.

Lynn, from St. Petersburg, Fla., has been living without paying for three years.

In Thousand Oaks, Calif., an actor has missed 30 payments, and still, he has not lost his home.

They’re not alone.

Some 4.2 million mortgage borrowers are either seriously delinquent or have had their cases referred to lawyers to pursue foreclosure auctions, according to LPS Applied Analytics. Of those, two-thirds have made no payments at all for at least a year, and nearly one-third have gone more than two years.

These cases can go on and on. Nationwide, it takes an average of 565 days to foreclose on borrowers in default from their first missed payments to the final auction. In New York, the average is 800 days and in Florida, where the "robo-signing" issue is particularly combative, it’s 807.

If they want to fight evictions hard, borrowers can remain in their homes even longer while their cases are being worked through.

The Segals have been doing that — in court. They bought their home in 2003 with an adjustable rate mortgage. After a few years, their monthly payments tripled to ,000, just as their home-inspection business was cratering.

The Segals want the bank to modify the mortgage so payments are affordable, and they think the court will agree that their lender put them into a toxic loan.

"The evidence will show that we were defrauded," said Jill Segal.

If they lose, of course, they’ll finally have to leave. And, unfortunately, more than 50 months of missed mortgage payments hasn’t translated into big savings.

"It’s very hard to save," said Jill Segal. "Our company’s billing is 90% off and my husband is only working about four days a week."

Lynn, who didn’t want her last name used, purchased a two-bedroom on Tampa Bay in 1998 for 5,000.

As the waterfront property’s value skyrocketed, eventually reaching 0,000, she refinanced twice (once to expand a business), and took out a second mortgage. She now owes more than 0,000 on the home, which is worth only 5,000.

Living in this foreclosure limbo is "Hell," Lynn said. "I feel like I’m locked in a box. I work for a financial organization and if this came out, it could cost me my job."

She’s still hoping to negotiate the loan. In the meantime, small things bother her. "A couple years ago, I lost my dog and I can’t decide on getting a new one," she said. If she has to move, she can’t be sure she’ll go somewhere that allows pets.

The actor from Thousand Oaks, Calif. began having problems during the screenwriters’ strike in late 2007, followed by a threat of a strike by the Screen Actors Guild.

He’s working with his lender toward a mortgage modification, submitting page after page of documents, which the bank has often misplaced or waited so long to examine them that they had grown too old to use.

His ideal outcome is get the loan modified and get all his late fees waived. He feels entitled to that because the bank advised him to stopped paying in the first place to qualify for one of the government’s foreclosure programs. Before that, he had missed only one payment.

Meanwhile, he has cobbled together some income streams — small acting parts, teaching acting classes and even handyman work.

"In a way, I feel like I’m lucky because I haven’t had to pay any ‘rent’ for 30 months," he said.

But he feels like he’s always under a cloud. "I haven’t slept in three years," he said. "It’s terrifying. I have to have the ultimate poker face in front of my kids."

Ruben Martinez, a Staten Island, N.Y., man trapped in a particularly bad adjustable rate mortgage, stopped paying more than three years ago. His attorney, Robert Brown, has managed to stave off one foreclosure.

Martinez, still struggling to find work, has little in savings despite the missed payments. He’s earning some income as a pastor and consulting for a non-profit family counseling organization.

"There’s pressure on me every day," he said. "I have a wife, three daughters and two grandchildren. Where are we going to live?"
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This important video shows different ways to lower your closing costs to the least amount. Review the other two videos first to get the full impact of what flexibility you have using this financing. Although Half Percent Down Payment specific, most of these techniques apply to most other home loans. Available only in California.
Video Rating: 0 / 5

Buying or selling a house? Spend two minutes understanding all of the costs that show up on the paperwork at the settlement meeting. Video covers closing costs from financing, public records and title companies. Sponsored by Federal Title & Escrow Company www.federaltitle.com
Video Rating: 5 / 5

   1. Examine your Good Faith Estimate and make sure you understand what each fee is for. Seems straightforward but many people do not do it. Sometimes, they do it long after the fact. You must do it before. Preferably a few days before, not minutes before.

You should always get your closing costs estimates on the Good Faith Estimate form.  It’s a standardized way of showing you what fees you are going to be charged.  Since it’s standardized, you can easily compare one mortgage brokerage’s closing costs estimates with those of another.  

The closing costs are finalized on HUD-1, a form that you should have in your hands and inspect (compare it against the Good Faith Estimate form) several days before the closing.  

   2. Now that you understand what all the fees are for, make sure you don’t have there fees that you’ve already paid and are not given credit for that. Maybe you paid the appraisal fee upfront.  This fee is part of your closing costs and it should be on the Good Faith Estimate as having been already paid if you did, indeed, already paid it.

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   3. Mortgage brokers (lenders too) have a number of third parties they have to work with to make a mortgage loan happen.  Some, like title companies, they choose.  Others, like the city and county you chose when you chose your home.   Though there’s nothing you can do about the county or city fees, it doesn’t mean you have to pay the other fees.  For instance, if you have a title company that is reliable and willing to charge you less, work with that company.

   4. ‘Lender’s Inspection Fee,’ ‘Commitment Fee’ and other such fees. Some exist only so that the mortgage broker or lender makes more money. Others exist so they don’t waste time with tire kickers. Make sure all such fees are absent or waived if there’s a closing.

Until May 2011, mortgage brokers and lenders are still allowed to charge you a yield-spread premium.  That’s the extra fee they get from the bank (lender) if they get you into a mortgage with a higher interest rate than the ‘wholesale’ rate you qualify for.  Mortgage brokers (unlike banks) have to report this extra fee if they get it.  Make sure to look for it.
The only time you should be paying extra is if the mortgage broker is going to use the fee to lower your interest rate (buy down the rate) or to pay your closing costs with it.

Refinance closing costs are lower than the closing costs for a first mortgage. They still run into the thousands, you can still overpay by a few hundreds. Make sure you understand what you’re paying and that the HUD1 form and the Good Faith Estimate form are in agreement.

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