Home Equity Loans – second mortgage

Fox Communities Credit Union’s latest television ad!
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Question by Mom: In California, after foreclosure, are you still responsible for your second mortgage?
What kinda of recourse do the lenders have? Is it different between the first and second mortgage? If the secondly also went into foreclosure, and the bank took the house, can the lender of the second mortgage lull come after repayment through lawsuit or wage garnishment, etc? The house resold for less than the original loan amount of the first so there were no proceeds from the sale to cover any of the second.

Best answer:

Answer by Justintimeforobama
YES

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Clopton Capital Proposes Solutions to Business Loan Processing Industry

Chicago, IL (PRWEB) December 14, 2011

Clopton Capital is a semi truck financing provider and is located in Chicago, IL. They primarily focus on commercial mortgages, SBA loans and niche financing mechanisms such as gas station loans and owner operator financing. The founder of Clopton Capital is Jake Clopton and this press release is part of Clopton Capital’s consistent effort to remain involved with the public, namely their future clients. Clopton Capital can be contacted at CloptonCapital.com.

Clopton Capital wants to propose and develop numerous improvements to the commercial lending industry on a holistic level. For one, they believe an industry standard form should be drafted for the use of field underwriting within the commercial lending industry. They believe this would would make underwriting commercial loan risk more turn key and more simplistic to understand. Second, the firm believes an electronic referral network with legal binding referral commissions should be established to make it easier for one commercial lending entity to refer business to another and to be sure they will be compensated.

“We need more solidarity in this industry which will benefit all of us in the end. Currently there are solid protocols for how to deal and underwrite business and it’s increasing the transactional cost for all of us,” said Jake Clopton, the founder of Clopton Capital.

The firm does not believe it is feasible for them to launch and implement these ideas on their own but would like to network with other firm to create them. “We obviously aren’t quick, willing, or able to do this on our own, but we would love to network with early commercial lenders who believe this industry could operate more smoothly with a little bit of organization”, said Matt Reed, an associate of Clopton Capital.

Clopton Capital tinned be contacted at their website CloptonCapital.com or at 866.647.1650 during regular business hours central time. Their website contains more specific information about their business loans. Their website dedicated entirely to semi truck financing is SemiTruckSource.com.

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Related Second Mortgage Press Releases

shortsalehumor.wordpress.com Funny video about trying to deal with a difficult second mortgage company who keeps asking for more money
Video Rating: 5 / 5

This is my attempt to get a Dumble Overdrive Special type of sound using my Koch Twintone EL34 based amp and a Fulltone OCD pedal. While it doesn’t quite have the crispness of an actual Dumble I think it comes pretty close. For me, I think its as close as I am going to get without taking out a second mortgage to pay for an actual Dumble or one of the boutique clones that are on the market.

Question by Victoria L: Can a second mortgage foreclose on a house?
If you are up and current on your 1st mortgage and your 1st mortgage is 75% of your homes value, can a second mortgage with only %25 of value foreclose on you and obtain the property?I know they can lien against the home, but not quite sure on the actual obtaining the property.

Best answer:

Answer by casey s
Sure, it’s a bonded and you used the equity in your house to procured it. You agreed to give them the house if you didn’t hold your end of the bargain. (I use the pronoun “you” loosely here, I know you are just asking out of curiosity and are not in this situation).

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DontMakeACostlyMistake.com Don’t make a costly home equity loan mistake, get FREE Reports Palm Springs,California,92264,Riverside,Socal,CA
Video Rating: 1 / 5

Question by Simon W: Can you get a second mortgage for half of the equity on your house?
So that your second payment will be based on a 30 year fixed rate rather than a refi. Will it be a smart thing to do. When you sell out you tin pay the second mortgage with the first and still walk with remainder of equity. Is this legal and does it make since.

Best answer:

Answer by girlwhoknowsitstrue
Use real numbers to understand.Your house is worth $ 100k.First mortgage is for $ 50k.Equity = $ 50kSecond mortgage = $ 25k (half of equity).If you got a 30 year second mortgage, you have to pay off your first and your 2d mortgage. Your overall payments will be higher than if you just had a $ 75k 30 year fixed. You can’t “pay” your second mortgage with the first, you have to pay them both.When you sell, you get the sales price – first mortgage – 2d mortgage, which right now would be $ 25k.Many lenders will not extend a 30 year second mortgage, because it’s secondary to the first – which means that if you go bankrupt, first mortgagee gets paid off first, second mortgagee gets what’s left – and often times, it isn’t enough to cover the debt – that’s why 2nd mortgages are generally 5 years or less.

Add your own answer in the comments!

Question by : Does a Second Mortgage appear on a tax record of a house?
I’m trying to find out if you can see a second mortgage or refinance on a tax record.

Best answer:

Answer by Overnight
not on the tax record no. but you can see it if you go visit the county register of deeds and ask to see a copy of all the deeds/mortgages recorded on the property.its all public information and noone will ask any questions like “why do you want that”. if you want to print a copy be prepared to pay a nominal “copy fee” or whatever, like 20 cents a page.

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VCMG Today Announced the Launch of the Vertical Capital Income Fund. Vertical’s Alternative Investment for Average Investor Offers Income Potential, Social Responsibility

Irvine, CA (PRWEB) December 19, 2011

Believing that low prices on mortgage loans represent value to investors in the current environment, Vertical Capital Markets Group today announced the launch of the Vertical Capital Income Fund.

The Fund’s goal is to build a portfolio of quality mortgages that aims to provide income and growth potential to investors. Designed for investments of $ 1,000 and up, the fund follows the lead of Vertical’s prior offerings and invests primarily in assets of residential performing loans that are secured by first mortgages or deeds of trust.

Group president, Bayard Closser, said, “One of the real attractions of this investment is it doesn’t correlate closely with equity and most bond markets, and whether equities or real estate go up or down, it essentially doesn’t matter. Through this structure, the fund will own the underlying collateral in the event of a loan default.”

A study by BlackRock Investments, LLC for the period 2001 through 2010 found that the benchmark index for the Vertical Capital Income Fund, the Barclays Capital US MBS Index, has a -.18 correlation with the S&P 500. A correlation of 1.00 represents a sheer positive correlation between two asset classes, while a correlation of -1.00 represents a downright negative correlation.

The Fund tin potentially reduce risk for investors by increasing diversification, because it has a negative correlation with stocks and other investments. However, no level of diversification can ensure profits or guarantee against losses. Furthermore Vertical is purchasing the loans at a significant discount, so the collateral backing the loans is typically worth more than what Vertical pays for the loans and this is verified with an independent assessment.

In addition, Vertical projects that more than 90% of the loans in the fund are performing loans, and this provides ample room to negotiate lower payments for any troubled homeowners.

“Despite high unemployment and lost home equity, the vast majority of homeowners are still putting their mortgage payments first among the bills they have to pay,” Altuzarra said, adding that Vertical is making headway in its socially responsible goal of “keeping people in their homes.”

About Vertical

Founded in 2004, Vertical Capital underwrites, monitors, and services the loans the firm purchases. The principals have more than 60 years of combined experience in the mortgage banking industry. With its network of relationships, Vertical strive to provide chaired, non-correlated products to investors. “Managing loan portfolios is sophisticated,” CEO Gus Altuzarra told. “We believe that to succeed in this arena, you need experts like Vertical in this highly specialized marketplace. Our wide network of contacts within the banking industry allows us to uncover bond loan opportunities that other buyers likely would not find. As loan servicer, Vertical Capital also has access to information not readily available to most institutional investors.”

The S&P 500 Index is an unmanaged composite of 500 large capitalization companies. This index is widely used by professional investors as a performance benchmark for large-cap stocks. You cannot invest directly in an index.

The Barclays Capital U.S. MBS index measures the performance of investment grade doctored-rate mortgage-supported crack-through securities of GNMA, FNMA, and FHLMC.

Mutual Funds involve risk including the possible loss of principal. There is a risk that issuers and counterparties will not make payments on securities and other investments held by the Fund, resulting in losses to the Fund. In general, the price of a fixed income security falls when interest rates rise. A specific security tin perform differently from the market as a whole for reasoned related to the issuer, such as an individual’s economic situation, the Fund’s net asset value may be more volatile because it invests in notes of individuals. The Fund is a closed-end investment company with no history of operations. Securities may be subject to prepayment risk because issuers are typically able to prepay principal. The Fund will not invest in real estate directly, but, because the Fund will invest the majority of its assets in securities secured by real estate, its portfolio will be significantly impacted by the performance of the real estate market and may experience more volatility and be exposed to greater risk than a more diversified portfolio. Quarterly repurchases by the Fund of its shares typically will be funded from available cash or sales of portfolio securities. The sale of securities to fund repurchases could reduce the market price of those securities, which in turn would reduce the Fund’s net asset value.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Vertical Capital Income Fund. This and other important information about the Fund is contained in the Prospectus, which tinned be obtaining by calling 1-866-277-VCIF (866-277-8243). The prospectus should be read carefully before investing. The Vertical Capital Income Fund is distributed by Northern Lights Distributors, LLC member FINRA. Vertical Capital Markets Group, LLC is not affiliated with Northern Lights Distributors, LLC.                                                                                                     2621-NLD-12/12/2011

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More Home Equity Loans Press Releases

Allmand Law Produces Over 100 Bankruptcy FAQ Videos

Helping full people get a refreshful commence.

Dallas, TX (PRWEB) November 18, 2011

Allmand Law now offers over 100 bankruptcy FAQ videos on YouTube. The videos are designed to educate debtors considering bankruptcy and answer bankruptcy questions such as:

Who can file bankruptcy?
How does bankruptcy impact a home mortgage?
How will divorce impacting a bankruptcy filing?
What can debtors expect from a bankruptcy attorney?
How to make changes to a Chapter 13 bankruptcy payment plan?
How can debtors keep some assets in bankruptcy?
How tinning debtors avoid foreclosure by filing bankruptcy?

The videos, which are mostly below two minutes, also cover other frequently asked questions about the benefits of bankruptcy and the bankruptcy process for both Chapter 7 and Chapter 13 bankruptcy.

For debtors dwelling in the Dallas-Fort Worth area, learning about bankruptcy before the need to file arises is important. Mortgage lenders in Tarrant County have already posted 1,515 foreclosures for November, a 8 percent increase from October according the Addison-based Foreclosure Listing Service.

“Foreclosures and bankruptcy filings are expected to increase through the rest of the year,” according to Reed Allmand, managing partner of Allmand Law. “Because there was a backlog of foreclosures due to investigations into robo-signing allegations earlier in the year, we could see a lot of foreclosures taking place in the last two months of this year.”

Allmand also pointed out that many homeowners in the Dallas-Fort Worth area may decide to file bankruptcy to avoid foreclosure, making education about the bankruptcy process critical if filers want to receive the full benefits of discharging their mortgage debts.

“Education is key to making a good decision about bankruptcy,” Allmand said. “Many homeowners facing foreclosure wrongly believe that it’s too late to receive help from the bankruptcy process once they get a foreclosure notice; but that is only because they don’t fully understand what bankruptcy tinning do for homeowners facing eviction.”

What bankruptcy can do is stop the foreclosure process in its tracks even if an auction is only days away, according to Allmand. Allmand also accentuate that bankruptcy can help some homeowners cram-down a secondly mortgage; but many simply don’t know that possibility exists due to lack of education.

Foreclosure and foreclosure related issues are not the only topics covered by the bankruptcy FAQ videos. The videos also cover questioning about credit teasing debt, reaffirming auto loans, paying off traffic fines in bankruptcy and even how to pay for a bankruptcy attorney, along with other common issues.

If debtors considering bankruptcy have specific questions about the process, they can search for their oppugn on the Allmand Law and go directly to the brief video for a replied.

Reed Allmand is Board Certified in Consumer Bankruptcy by the Texas Board of Legal Specialization, the managing partner of the law firm Allmand Law and NACBA’s State Chair for the Northern District of Texas. He has been practicing bankruptcy law for nearly 10 years and has handled more than 3,000 bankruptcy filings. Allmand has appeared on “Money for Breakfast” on Fox Business News and is the author of “The Truth about Bankruptcy.” To speak with Mr. Allmand or to time an interview, please call (214) 265-0123.

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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.