wells fargo home mortgage: 12/08/09

Tuesday, December 8, 2009

Home Mortgage - An Important Financial Decision

Owning your own dream house is a feeling of freedom and pride. Rather than renting where your money is going nowhere but your landlord's pocket, owning your own house is definitely a good long term investment.

Mind you, owning a house is not that cheap. As we all know it, real estate values are presently in an all time low and construction materials are raking in prices sky-high. But then you do not have to be intimidated by all of these. You can still choose to buy one as your long term investment in the future.

Benefits of owning your own house

Obviously, it is yours! You can do whatever you want, design it to your taste, and paint it to your desired color. Also, when you pay off your monthly installments your money returns to you in a form of equity finance, compared to paying rent where your money does not come back to you in any form of benefit but a mere liability.

Your home is also an investment in the near future, should you choose to sell it. Of course, you will sell it for a profit to consolidate other investments or debts. In some instances, the profit is spared from payment of taxes.

Last but not the least, owning your house gives you more tax cuts than in renting. Property taxes and mortgage interest rates are deductible from your general tax burden.

The only drawback in owning your own home are the maintenance and repairs you will have to spend on from time to time. But then again, if you are after establishing a long term wealth and asset, these are just minimal expenses.

Affording a Home Mortgage

The first question that pops into your mind is whether you have the finances to buy a home. Then, if you are determined to buy one, the next thing you have to consider is what type of home you could afford.

Next step is to calculate your asset-to-liabilities ratio. Ideally, an affordable monthly mortgage is 28% of your monthly salary.

In calculating your finances, just make sure that you are being honest with yourself and that you are being realistic with what you can afford and what you cannot. This will protect you from being heartbroken from a foreclosure.

Look for a reputable loaning institution

It is best to look for a reputable and stable financial institution to help you in acquiring a loan for your home. Do your own research by asking some of your friends and relatives, look into newspaper clippings and the internet. Sometimes, it pays to be cautious.

Also, try to shop around for financial institution and compare which will give you the mortgage perfect for your needs. Look for competence, and check the connections this particular financial has. Again, it's better to be safe than to be sorry.

Just remember, a home mortgage is a long term financial commitment. This is an obligation that you cannot do away with since you are investing your money into it.

Just make sure you are buying one for the right reasons. Most importantly, make sure that the choices you make will benefit you in the end. GP

Wilson Field are specialists in IVA's and can help individuals with deal with their debt problems. If you have taken out a loan you may have been mis-sold PPI and Real Claims can aid you in your claim.

Article Source: http://EzineArticles.com/?expert=Yossarian_Smythe

The Next Step - Getting a Home Mortgage Loan Quote

By Elanora T. Kelly

Once you've looked at your financial situation, the house that you want to purchase and the type of mortgage loan that you are interested to acquire, the next step is to get a home mortgage loan quote. This is for you to understand the repayment that you have to make with all the interests involved in it. A home mortgage loan quote essentially shows all this as these are the things that you really need to know.

In the past, if you wanted to get a quote, you would have to go to different lender offices. This caused many people to only look for lenders in their immediate vicinity without even bothering to venture further out for better deals - it takes too much time and trouble. However, in today's age of the internet, you can get a home mortgage loan quote online without having to venture too far beyond your boundaries.

For example: have you considered a Japanese Mortgage? The Central Bank of Japan interest rate is 0%. For around 2,5% you have a Mortgage which is protected against Yen - Dollar fluctuations.

When looking for a quote online, there are a few details that you must have at hand so that the lender can provide you with a reasonably accurate quote. These include details of your income, debts and the home that you are trying to purchase. In addition to this, it would also be helpful to have your tax returns information, credit card bills and also your current mortgage if you have one. All of these will be accounted for when the lender works out the interest rate that they are willing to offer you.

These days, lenders usually put up forms on their websites for you to fill in. You should know that they have many types of forms for the various mortgage needs that people have. Therefore, to avoid wasting your time, you should be really careful that you fill in the one that is correct for you. For instance, when looking for a mortgage for a new home, you shouldn't fill in a form for a mortgage refinance loan.

When the form is submitted, the lender will receive all the related information and will be able to provide you with a quote. However, you should know that a quote is still changeable and not fixed. Only when you've signed a contract is everything written in stone and unchangeable. Thus, it pays to look around for quotes so that you get the best deal possible.

Remember, even a slight difference in interest rate can mean huge savings for you.

When looking for a Home Mortgage Loan Quote be sure to list your requirements and check also International Mortgage Quotes.

Learn More about Mortgage

For information on all types of ways to Refinancing a Mortgage come to mortgageinterestratestoday.net

Article Source: http://EzineArticles.com/?expert=Elanora_T._Kelly

Finding the Best Home Mortgage Lenders - Why Making Comparisons is Worth Your Time

By Elanora T. Kelly

Obtaining a home loan or mortgage is definitely not an easy thing to do as it can be extremely stressful and it takes ages to complete. This is partly due to the fact that you need to perform in-depth research about the many lenders around before you can decide whom to make a loan from. In addition to this, you have to bear in mind that not every lender is suitable to your financial situation. This simply means that in some circumstances, one type of lender might not be suitable for your situation. Therefore, whether you're looking for a first time home loan or trying to refinance and existing home loan, you should make a comparison between the lenders so that you get the best deal in town.

Some home mortgage lenders put great emphasis on your credit history when determining the interest that you have to pay. Usually, people with poor credit will have to pay higher interest rates as compared to those with good credit. Thus, it is in your best interest to ask the potential providers in their policy on this. Also, you should know that the amount of down payment may sometimes influence the interest rate that you incur. Some lenders offer a lower interest rate when you make a larger down payment while some don't. There are also lenders that offer variable interest rates and some offer fixed interest rates. Depending on your situation, you may benefit from one or the other. Therefore, when looking for home mortgage lenders, it is essential that you compare them in regards to these aspects.

Besides your credit score, the amount of interest that you will incur is also dependent on your debt-to-income ratio as well. A debt-to-income ratio is the ratio between your monthly income and your monthly debt. When it comes to evaluating this ratio, payments such as student loans, car repayments, credit card bills etc. are considered; the smaller the ratio, the bigger the interest that you will incur. However, even if you can barely repay the loan with your monthly income, you should be rest assured that most probably there is something for you. This is due to the fact that mortgage lending is very competitive an lenders offer many types of packages to suit the needs of people with different economic backgrounds.

It is important that you look around for home mortgage lenders before you even start looking for a home. By doing this, you can properly plan your limit when it comes to spending for the new home. You can also save a lot of time when it comes to the process of buying a home as you are already pre-qualified for a home loan. Also, home sellers favor the security offered by buyers with pre-approved home loans and tend to deal with them rather than those without mortgage pre-approval. Also, as a buyer, you can make a purchase offer easily as you already know how much you can spend for the home.

As mentioned earlier, the fact that comparing between home lenders can be greatly beneficial for you can never be over stressed. In addition to saving you a great deal of money, you can save a lot of time and trouble when it comes to the actual process of making the purchase.

When looking for a Mortgage Interest Rates Today be sure to list your requirements.

Learn More about Mortgage

For information on all types of Home Mortgage Lenders come to mortgageinterestratestoday.net

Article Source: http://EzineArticles.com/?expert=Elanora_T._Kelly

Smart Ways to Get Low Home Mortgage Refinance Rates

By Elanora T. Kelly

Whether your refinancing decision is a wise one or not depends on how low your home mortgage refinance rates are. If your existing mortgage rate is so high that it becomes difficult for you to make up for monthly installments then opting for considerably lower rated mortgage refinance is a wise step.

First step towards getting a low home mortgage refinance rate is repairing the damage made to your credit report, if any. For this it is advisable to be regular in paying your monthly installments and if possible even repaying smaller debts shall help a lot towards raising your credit score. And of course, once you have a good credit record you are sure to get lower interest rates.

Second step is searching for the best lender in market. It may seem a tedious task, but believe me it isn't really if done systematically. You can search online for various lenders and get online quotes, compare them and if you are lucky you may even negotiate the rate further with your lender based on personal credit rating grounds. If you feel that you lack the expertise required to negotiate with the lender, a good mortgage broker can as well do the task for you and that too quite efficiently.

It will also be helpful to keep in mind that if you are not planning to stay in your present house for long term say 10 years or more, than probably refinancing your home mortgage is not worth putting your effort into it. And every time while searching for low home mortgage refinance rates one should keep in mind the current market interest rates. Finally we can conclude that refinancing one's home mortgage gives you quite a good opportunity to restructure your finances and help you in reducing your debts systematically.

When looking for a Home Refinance Rates be sure to list your requirements and check out these companies.

Learn More about Home Mortgage Refinance Rates

For information on all types of ways to Refinancing a Mortgage come to mortgageinterestratestoday.net.

Article Source: http://EzineArticles.com/?expert=Elanora_T._Kelly

Necessary to Know Before You Refinance Your Home Mortgage Loan

By Elanora T. Kelly

A great number of Americans are right now going through the procedures of refinancing their home mortgage loans. As the interest rates have risen like never before since past few months, many borrowers have opted to refinance their home mortgage loan. Of course if you have a good credit score and are a regular payer, then this is quite a good time for you to restructure your existing debts. The main issue arises when you need to refinance your mortgage badly but due to your bad credit score you are not able to find the interest rates you want. Read on to solve some of your basic issues on refinancing home mortgage loans.

First thing is to decide whether the whole procedure and its cost is worth your effort and time? If you are planning to move into a new home in short term let's say within 10 years of time, than probably refinance your home mortgage is not worth your time and effort. But if you are staying here for longer term then surely refinancing your debt is your best option.

Now you should know the basic 2 kinds of loans available which are fixed rate and adjustable rate mortgages. The former one is a conservative approach having fixed rate of interest for full span of loan while the later one has lower interest rates in the beginning few years and then generally the rates are hiked up quite a bit. The most opted and probably the best way out of both is to choose an adjustable lower rate and then converting it into fixed rate after a few years.

Now that you have basic knowledge of refinancing your home mortgage loan you can search online for various mortgage calculators and figure out your refinance options based on the span and amount of refinancing. Of course there are experts, professional and mortgage brokers to help you with the same. But it will always be wise to take up any decision on refinancing home mortgage loan after being completely informed.

When looking for a Home Refinance Rates be sure to list your requirements and check out these companies.

Learn More about Refinance your Home Mortgage Loan

For information on all types of ways to Refinancing a Mortgage come to mortgageinterestratestoday.net.

Article Source: http://EzineArticles.com/?expert=Elanora_T._Kelly

Easy Way to Home Equity Loan Refinancing

By Elanora T. Kelly

Most home owners in America are currently either in the process of or thinking of home equity loan refinancing. The process can be made a lot easier if done systematically. For this purpose online research will help a great deal to compare various quotes of all lenders and take up an informed decision.

One of the simplest of all options available to you is to simply refinance your existing home mortgage into a second mortgage. Still further you can also opt to refinance both your first as well second mortgages to get a lower mortgage interest rate. By doing this you also save on certain processing fees as you have to pay them only once. And also you are saved from all the paperwork and other hassles of multiple applications. Yet the later option is not always the best one as sometimes your first mortgage term can be of up to 30 years while your second can be a smaller one of only 5 years.

While deciding for home equity loan refinancing you may also want to compare the approx. loan costs of different lenders. Quick go through the list of APR might also help you find lowest costing refinance packages. It is also advisable to compare your present loan interest costs to your new mortgage interest costs. Of course even while refinancing you have the option to reduce your monthly payments by selecting a longer tenure or reduce the interest costs by paying up the loan amount in a short term.

Once you have researched all these basic facts online, you are almost done with the process of your home equity loan refinancing. All you have to do is sign up a contract with the lender you prefer and within a span of 15 days you will enter into a fresh mortgage scheme with lower installments and terms and conditions to suit your present situation.

When looking for a Home Refinance Rates be sure to list your requirements and check out these companies.

Learn More about Home Equity Loan Refinancing

For information on all types of ways to Refinancing a Mortgage come to mortgageinterestratestoday.net.

Article Source: http://EzineArticles.com/?expert=Elanora_T._Kelly

How Many of These Alternative Energy Companies Will Be Around in Five Years

By Lance Winslow

When Warren buffet and Bill Gates gave an interview with the students of the Columbia school of business they were asked about the future of jobs and the alternative energy industry. Both of these very wealthy man explained how the market would eventually weed out the weaker players, and hopefully we would have some better alternative energy choices. However, I would like to ask exactly how many of these alternative energy companies, startups, and corporations will even last for the next half decade?

Remember, in the pharmaceutical industry there were something like 1200 startups and/or new IPOs over a five or six year, and everyone was betting on the biotech industry? Hardly any of those companies ever make a profit, and only 17 of them ever turned into anything great. Now, I'm not saying that it isn't good to have 17 new strong companies in the biotech and pharmaceutical industry. I do believe that is a great thing. However, during the top of the "Dot Com" bubble, we essentially saw the same thing.

And what happened? The bubble burst, all the investors lost money, and only a few survived, in the end, it was the investors which took it in the shorts, after the big shakeout. But now, we are building an alternative energy bubble, one that is funded by the taxpayer? Since we already know that we are building the bubble, and that this bubble will obviously someday burst, and most of these alternative energy companies will go nowhere, but we also know it is the taxpayer who is going to lose in the end.

Indeed, it is even worse than that, because we are instituting a carbon tax and trade system, which will increase the price of everyone's energy, since 60% of our nation's electricity generation comes from coal-fired plants. Therefore, not only will all be investors in this sector get hurt, but every citizen that uses electricity will be damaged, and have to pay more, along with the taxpayer who is funding the bubble. Someone ought to stop everyone right now, and ask all these people what they are thinking?

Because as it stands everyone seems to be forgetting history, and even this last global economic financial meltdown was due to a bubble building, a bubble in the housing market and the home mortgage market, which was also propped up by rules and regulations from our government, all in the name of helping people own a home, albeit, even if they couldn't afford it.

If we keep making the same mistake and hoping that we will get out of Dodge, by building an even bigger bubble, then all we are really doing is keeping the game going using the definition of insanity, and forgoing the reality of unintended consequences. From a pure philosophical standpoint, and an economic one, this really makes no sense to me, and that's my take on it. Indeed, I hope you will please consider this.

Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank. Lance Winslow believes in good economic politics.

Article Source: http://EzineArticles.com/?expert=Lance_Winslow

Wells Fargo Home Mortgage Modification and Refinancing Options

By Michael Petrone

Are you a homeowner who is considering getting their home loan refinanced or modified through Wells Fargo? If so, you are in luck thanks to President Obama's "Making Home Affordable Plan" which will allow homeowners the opportunity to get themselves into a 2% fixed rate home loan through refinancing or loan modification. Wells Fargo is a large, reputable, qualified lender for Obama's plan. Here is more information for homeowners who want to get a refinancing or home loan modification through Wells Fargo.

Getting a refinance or home mortgage modification through Wells Fargo has never been easier, or more in the borrowers favor. The "Making Home Affordable Plan" now allows homeowners the chance to get a Government backed 2% fixed rate home loan. Wells Fargo, one of the nations leading mortgage companies, is now authorized to use Obama's plan to assist homeowners. This is possible due to the large lending power a company of that size has, and from the fact that the housing stimulus plan gives cash incentives to mortgage lenders and banks who assist homeowners who are "at risk" either financially, or of losing their home. With these cash incentives any risk a lender or banks were taking by helping homeowners in a "Financial Hardship". Now, a struggling homeowner can enjoy the ultra low 2% fixed interest rate, and see huge savings every month through interest reductions.

By using such a big, reputable, powerful company such as Wells Fargo, you are doing yourself a favor. They have the experience and specialists to help almost any homeowner, in any situation. Especially now with the Obama housing bailout plan in full swing. Foreclosures are good for nobody, and banks and lenders know this. Now, more than ever, there is a willingness to want to help homeowners, as opposed to letting them lose their home to foreclosure or mortgage default.

Homeowners should at least look into the potential savings that can easily be had through a home refinancing or loan modification. This plan from Obama makes it easier, and more beneficial than ever for homeowners to save, on average hundreds per month, on their home loan payments. Ensure your financial future, and the future of your home today and take the action needed to refinance your home loan with Wells Fargo.

At my site I will teach you how to properly refinance or modify a home mortgage saving you thousands of dollars, or even your home. A lot of Greedy Mortgage Lenders will try to suck you dry if you let them. Learn the right way to refinance or modify your home loan at my site: http://www.refinancingcondo.com

Article Source: http://EzineArticles.com/?expert=Michael_Petrone

Wells Fargo Loan Modification - Rescue From Foreclosure?

By Tiffany Nelson

A Wells Fargo Loan Modification may save the day for you if you are struggling to pay the monthly house payment on your Wells Fargo home mortgage. Wells Fargo is on the list of approved lenders under the 2009 Federal Stimulus Package. Under this federal program, lenders are paid a financial incentive to do loan modifications for troubled homeowners facing the very real possibility of foreclosure. You might not yet even be delinquent in your payments, but if you are struggling increasingly each month to make your payment, there is no time to delay. It is offered for only a limited time.

If you qualify, They will rework your loan so that your house payment is reduced to a manageable amount. The target amount is less than 31% of your gross monthly income.

This is done using one or all of several tools they have at their disposal under the Stimulus Package.

· Reduced interest on the loan, as low as 2%.
· Extended loan term, which is the duration of the mortgage, as long as 40 years.
· Waiver of late fees
· Even forgiveness of loan principal.

Wells Fargo receives a considerable incentive for every mortgage that they rework. So, they are more receptive to your request for a Wells Fargo Loan Modification.

You must meet the following qualification guidelines in order to apply:

1. The home must be where you live more than 50% of the time, your primary residence.
2. The loan amount has to be less than $729,750.
3. The original mortgage must have been dated on or before January 1, 2009.
4. Your house payment (counting insurance, taxes, and homeowner's association dues) must be more than 31% of your gross monthly income.
5. You must be experiencing a documented case of financial hardship that has prevented your payments or is making it almost impossible. This means that your income has been reduced or your expenses increased due to events beyond your control: job loss, military service, illness, medical bills, or divorce are some.
6. You must also show documentation that given a modified payment, you would be readily able and willing to dependably meet your monthly mortgage obligation.

Click here for more must know loan modification tips.

Article Source: http://EzineArticles.com/?expert=Tiffany_Nelson

Wells Fargo Home Mortgage Refinancing and Modification

By Michael Petrone

Wells Fargo is following President Obama's recently announced "Making Home Affordable" plan. This plan will allow homeowners a chance to refinance or get a home loan modification into a fixed, 4% interest rate. This plan is easy to take advantage for homeowners with a mortgage with Wells Fargo. Here is what you need to know:

This "Making Home Affordable" plan will give cash incentives to mortgage lenders and banks who can approved homeowners who are "at risk" of losing their homes, or facing other financial hardships. These hardships can be something like losing a job, reduced income, high credit card debts, hospital bills, bad mortgages, and a long list of other circumstances qualify for Obamas plan. Wells Fargo is approving more home loan modification and refinancing applications now, for homeowners who would not have been able to do so prior to the plan, and save them hundreds of dollars per month, or their home from foreclosure. Homeowners who have been denied before, or told they do not have enough equity to refinance or modify their mortgage should try again now that this plan is in place.

When a homeowner is lucky enough to deal with a mortgage lender as big and reputable as Wells Fargo, they can rest assured that they are dealing with the best. Wells Fargo is with you when you need help, and they will help you. They have the reputation, and connections to help homeowners who are financially struggling and save their home. They have the size and leverage to offer you a wide type of loans, and will use professionals to help you.

Homeowners looking to get a mortgage refinancing or modification with Obama's plan and Wells Fargo will typically be very happy with the results. Homeowners can easily save hundreds of dollars per month, or their home from being foreclosed on. You should at least take a little time and call Wells Fargo and see the potential savings. Odds are, even if you do not believe it, you will be approved for a home loan refinance or modification with better interest rates, terms, conditions, or all three. Do yourself a favor and take action now.

Article Source: http://EzineArticles.com/?expert=Michael_Petrone

Wells Fargo Loan Modification

By Robert Mazurek

Are you behind on your Wells Fargo home mortgage? Afraid you might be losing your home in the near future? A Wells Fargo Loan Modification through the Stimulus Plan may be your solution!

The federal government has allocated 75 billion dollars to a stimulus package for homeowners that encourages banks to rewrite existing home mortgages to prevent foreclosure. This is done by lowering the house payments of struggling homeowners to an amount they can afford.

Wells Fargo is on the approved lender list and is receiving financial incentives for every mortgage modification that they do. Their goal is to arrive at a mortgage payment that is less than 31% of the gross monthly income of the homeowner. This payment amount includes property taxes, homeowner insurance, and any homeowner dues.

The new, more affordable house payment is achieved through one or more of the following methods:

* Lowering the interest rate to as low as 2%.
* Lengthening the loan term, possibly to 40 years.
* Waiving Late fees.
* Forgiving part of the principal of the loan.

You can only get one loan modification, and they are available for a limited time through this federal program. Who qualifies for this stimulus money? If you have a Wells Fargo mortgage, you already meet one requirement. You must have a mortgage with a lender on the approved lender list. To apply, the following guidelines must also be met:

* The home must be your primary residence. This means that you live in the home more than 50% of the time.
* The original loan must have been written on or before January 1, 2009.
* The loan amount cannot be more than $729,750.
* Your current house payment has to be an amount more than 31% of your gross monthly income. This figure, again, includes property taxes, homeowner insurance and any homeowner association dues you are responsible for.
* You have to be able to document that you are in a financial state of hardship. This means that something has happened to you beyond your control that has greatly reduced your income or raised your expenses. This could be: medical bills, job loss, divorce, death of a spouse, or military service.
* You also must be able to present a convincing budget plan that shows how you will be able to financial fulfill your mortgage obligation with the modified monthly payment.
* If you are in danger of losing your home, a Walls Fargo Loan Modification may help you avoid foreclosure and save your home.

Click here to get the help you need to qualify for a loan modification.

Article Source: http://EzineArticles.com/?expert=Robert_Mazurek

Updating America's Homes - A Good Thing For All of Us

By Kimberly Streich

For the past two years we have seen several homes fall into hardship. Homeowner's are foreclosed on or simply cannot find the funds they need to repair them due to the economical strain on their budgets. The good news is with the federal stimulus funding for first time home buyers and the lower interest rates for the rest of us, these homes are finally getting the attention they need.

The following "ah" and tips can come in handy whether you are purchasing a distressed property or own a home that simply needs to be refreshed. In either situation try to think about being green by also updating your kitchen appliances, heating and cooling system or improving water efficiencies with low-flow showerheads, toilets and faucet replacements.

1. Is the property in such disrepair that total tear down or stripped to the skeleton needs to be considered? If so, you may want to check with your mortgage company to see what (if any) restrictions apply. They did finance what was originally there so they may have specific requirements in mind. They also may offer a Renovation funding program (more on this shortly).

2.Is your home historic or at an age where special renovation funds may be available? Check with your city to see if they offer such programs. Depending on age of the home, historical importance, or style some may be eligible through state or federal programs.

3.Check with your city building department. What are their requirements for either demolition and rebuild or remodeling on a massive scale? Massive remodeling to most is when a property owner basically strips the home down to foundation or its basic framing members.

Depending on your desired outcome and how long you plan to own the property one option may be more favorable to you over the other. For example, we removed some interior walls of a 1970's home and then exchanged a 3-season porch on the back with a new porch on the front. The benefit to this was the building permit cost and property tax savings because we technically did not add a new addition to the home but rather exchange one space for another. The disadvantage to this is for future resale of the home we still have to list the home as a 1970's structure with 1990's total updates.

4.Do your homework.Understand what is happening in your community. How are the home values today? How many are for sale, sold, pending? Are the properties being maintained? Is the city making plans to change traffic patterns, building retail or commercial nearby and are these improvements good or bad for this home and its property? Understanding the impact of the homes surroundings will give you a better indicator as to whether or not a total rebuild or extensive remodel is warranted. Maybe it is a simple remodel to bring the home back into condition and market value of the neighborhood as it exists today.

Besides the Federal Incentive for 1st Time Home Buyers, many mortgages are offered at great rates. If you are buying one of these properties that needs some TLC ask about a Renovation Program. Wells Fargo Home Mortgage for example offers such programs that are a perfect fit to these types of properties that need some attention.

The Purchase & Renovate Program by Wells Fargo for example is designed for you to buy that home that still needs improvements. What is great about this program is that you can buy the property and do the renovation funding all within just one loan.

The benefit of this is several key points. 1) The money you borrow is based on the increase value of the home AFTER the improvements are made. 2) Typically the renovations are spread throughout the loan term so your payments are lower. 3) Both the mortgage and renovation costs are together in this loan so both may be tax deductible. Versus if you would have used a Lowe's or Home Depot Consumer Credit Card where you pay higher interest rates and cannot submit for possible tax deductions. 4) You have the added benefit of closing on the one loan and just digging into your project, no waiting or searching for the funding to start that dream bath or kitchen.

Another product that Wells Fargo Home Mortgage Offers is the Refinance & Renovate Program. Similar to the Purchase & Renovate it is for those of us that already own our homes and need to make the improvements. Again, they base the loan on the increased value of the home AFTER the improvements are made. Some homeowners who very little equity in their homes and plan to move within 1-5 years like this as well because they can make the necessary repairs . With the repairs made - their home may fair better on the traditional real estate market and sell more quickly, especially to home buyers that do not have an eye for restoration.

While this article mentions the Well Fargo Home Mortgage products there are several others out there so do your research.

Just think, we take part in this renovation or simple updating we all benefit. We keep the lumber yards busy, the hardware stores, plumbers, electricians, heating and cooling, painters and on and on. Learn more about housing see our blog at: http://truehousing.blogspot.com.

Article Source: http://EzineArticles.com/?expert=Kimberly_Streich

Wells Fargo Loan Modification - A Helping Hand From Wells Fargo

By James A. Kennedy

Are you in a difficult situation with your Wells Fargo home mortgage? Help may be available to save your home. A Wells Fargo Loan Modification could help you straighten out your financial predicament and get a lower house payment that you can afford.

Because of the poor economic conditions in our country, President Obama has signed a stimulus bill that provides incentives to banks and lenders to rework existing Fannie Mae and Freddie Mac mortgages. These modified mortgages have lower monthly payments, making it easier for homeowners who have found themselves in a situation where their house payment is no longer affordable due to situations beyond their control.

Luckily for you, Wells Fargo is on the Approved Lender List for this program. If you qualify, you could obtain a house payment that is less than 31% of your gross monthly income! This payment amount incorporates the amounts you must pay in property taxes, homeowner's insurance, and homeowner association dues. One of the requirement is that the payment you are paying now is more than 31% of your gross monthly income, and this also includes the aforementioned expenses.

Wells Fargo really doesn't want you to experience foreclosure, and it is quite unpleasant for them, also. It cost them many labor hours in processing a foreclosure, and the foreclosed property could actually sit vacant and unproductive for a very long time. Under this program, they also receive $1000.00 for each homeowner they help, so they are even more motivated to help you keep your home with a loan modification, if possible.

How do you take advantage of this assistance, if you qualify? Most experts advise that the best course of action is to prepare all your paperwork according to the application guidelines of the program and then contact Wells Fargo. The federal program only allows one application per homeowner, so you see the importance of correctly completing the information and compiling the documentation necessary to substantiate all your statements regarding income and expenses.

To get help right away, click here for more information about the home stimulus package.

Article Source: http://EzineArticles.com/?expert=James_A._Kennedy

Wells Fargo Home Refinance Or Modification With the Stimulus Plan

By Michael Petrone

Being one of only a few selected lenders to offer President Obamas stimulus plan, Wells Fargo, is going all out to help homeowners. New programs in place which will allow almost every homeowner the chance to get a better mortgage through refinancing or modification. Wells Fargo has fully embraced this stimulus program and is now offering it to homeowners. Here is how it works.

Homeowners who wish to get a mortgage refinancing or modification from the Governments plan need to meet some eligibility requirements. Some of which include missing home loan payments, financial hardships, upside down mortgages, or a home that has dropped in value. In the past, homeowners with these problems would need to use a subprime mortgage lender or similar service. These services are often costly, and carry higher interest rates. However, with the new stimulus programs, homeowners can use the services of a large, respected, and well known lender like Wells Fargo.

While there are many lenders and banks out there, not all of them have been approved to offer the stimulus plan. Lenders and banks like Wells Fargo who are approved will receive cash incentives when they help a homeowner according to the stimulus programs guidelines. Also, for every year up to 5 years a homeowner makes their payments on time and in full, the lender or bank who helped them will receive additional cash. This money has eased lenders restrictions on who is eligible for mortgage refinancing and modification, and allows them to approve more homeowners.

Most homeowners who use this plan will be facing a financial hardship of some kind. If this is the case, a letter of financial hardship will need to be written and submitted to Wells Fargo with your mortgage refinance or modification application. While remaining as brief as possible, this letter should state your problems, potential solutions, and why saving your home is so important. This letter can easily separate you from the rest of the homeowners if it is written correctly. For some people, this letter will not be as crucial as it is evident that they are not able to make their monthly mortgage payments.

Homeowners in all types of financial or home loan problems should contact Wells Fargo and see how this stimulus program can help them. The help is available and professionals are waiting to assist you. Do not let your situation get worse, take action now.

Article Source: http://EzineArticles।com/?expert=Michael_Petrone

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