tag:blogger.com,1999:blog-10265213846232462192011-04-21T16:52:05.115-07:00Vietnam Mortgage’s number one goal is to help the Vietnamese community of MN by providing ethical and honest mortgage service.Your Satorihttp://www.blogger.com/profile/11226743668927337315noreply@blogger.comBlogger21100tag:blogger.com,1999:blog-1026521384623246219.post-69544079264638301512009-05-21T12:08:00.000-07:002009-05-21T12:11:21.735-07:00<p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><span style="font-family:Arial;font-size:10;"></span></p><p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><span style="font-family:Arial;font-size:10;"></span></p><p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><span style="FONT-FAMILY: Arial; FONT-SIZE: 10pt">I found this article on Marketwatch.com today.<span style="mso-spacerun: yes"> </span>It is titled “Battle Plan for Refinancing Your Mortgage”. This story provides you a good outline on why it’s a great idea to refi right now, but why you might not be able to.<span style="mso-spacerun: yes"> </span>Since 2007 mortgage funding has dried up.<span style="mso-spacerun: yes"> </span>It has become harder then ever for people to obtain a mortgage. The biggest factor in getting denied for a loan is equity.<span style="mso-spacerun: yes"> </span><?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p></span></p><p></p><p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><span style="FONT-FAMILY: Arial; FONT-SIZE: 10pt"><o:p> </o:p></span></p><p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><span style="FONT-FAMILY: Arial; FONT-SIZE: 10pt">Since home prices have plummeted since 2006, equity is getting harder to come by.<span style="mso-spacerun: yes"> </span>Some statistics state that 62% of all homes are underwater.<span style="mso-spacerun: yes"> </span>This means that 62% of homeowners owe more on their mortgage then their home is worth. <span style="mso-spacerun: yes"> </span>At the same time, this stat is a little bit skewed.<span style="mso-spacerun: yes"> </span>Home prices are locally, not national.<span style="mso-spacerun: yes"> </span>Some homes in MN have not gone down in value as much as other homes.<span style="mso-spacerun: yes"> </span><o:p></o:p></span></p><p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><span style="FONT-FAMILY: Arial; FONT-SIZE: 10pt"><o:p> </o:p></span></p><p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><span style="FONT-FAMILY: Arial; FONT-SIZE: 10pt">I suggest that you read this article and then find out if you can qualify for a mortgage.<span style="mso-spacerun: yes"> </span>Rates have never been lower then right now.<span style="mso-spacerun: yes"> </span>Please contact me if you would like an honest look in to your mortgage options. <o:p></o:p></span></p><p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><span style="FONT-FAMILY: Arial; FONT-SIZE: 10pt"><o:p> </o:p></span></p><p style="MARGIN: 0in 0in 0pt" class="MsoNormal"><span style="FONT-FAMILY: Arial; FONT-SIZE: 10pt"><a href="http://www.marketwatch.com/story/a-battle-plan-for-home-refinancing-2009520548520">http://www.marketwatch.com/story/a-battle-plan-for-home-refinancing-2009520548520</a><o:p></o:p></span></p><p style="MARGIN: 0in 0in 0pt" class="MsoNormal"> </p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1026521384623246219-6954407926463830151?l=vietnammortgage.blogspot.com' alt='' /></div>Your Satorihttp://www.blogger.com/profile/11226743668927337315noreply@blogger.com0tag:blogger.com,1999:blog-1026521384623246219.post-90553503088769130782009-04-20T14:28:00.000-07:002009-04-20T15:33:52.375-07:00<p>This article was posted on bankrate.com and provides a great mnemonic called the “Four C’s”<br />The four C's<br /></p><p><strong>Capacity</strong>, which refers to the adequacy of the borrower's income to pay the interest and principal due on the loan, plus property taxes and homeowners insurance.</p><p><strong>Character</strong>, which refers to the borrower's track record of paying debts as evidenced by his or her credit history and credit score.</p><p><strong>Capital</strong>, which refers to the borrower's down payment (or equity) as a percentage of the current value of the home.</p><p><strong>Collateral</strong>, which refers to the safety and soundness of the home and the value of the home as determined by an appraisal relative to the agreed-upon purchase price.<br /></p><p>- Greg Gwizdz, nationalsales manager for Wells Fargo Home Mortgage in Des Moines, Iowa. 7/10/2008<br /></p><p>If you are okay according to the four C’s you should be able to get a mortgage. You might also be able to obtain a mortgage if one of these C's is a little weaker then the other one. For example, you have a ton of equity (>35%) and have a lower credit score. You will be able to get a loan or vice versa, you have little equity, but a terrific credit score. </p><p>The truth is that there are tons of products on the market for consumers. Don’t be too concerned about not getting a loan if you live within your means and have a good credit score.</p><p>If you have any questions regarding your current mortgage, please contact us @ <a href="http://www.thesatorigroup.org/">http://www.thesatorigroup.org/</a>.If you meet all of the four C's you might be a perfect fit for our SWBStm.</p><p>http://www.bankrate.com/brm/news/mtg/20080710-mortgage-requirements-a1.asp </p><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1026521384623246219-9055350308876913078?l=vietnammortgage.blogspot.com' alt='' /></div>Your Satorihttp://www.blogger.com/profile/11226743668927337315noreply@blogger.com0