Home Equity Loans – second mortgage

HSH.com Weekly Mortgage Rate Radar: Rates on Fixed-Rate Mortgages End Higher on Brighter Holiday Retail Sales

Foster City, CA (PRWEB) November 30, 2011

Rates on the most popular types of mortgages moved slightly higher this week, according to HSH.com’s Weekly Mortgage Rate Radar. The average rate for conforming 30-year fixed-rate mortgages rose by 5 basis points (.05 percent) to 4.18 percent. Conforming 5/1 hybrid ARM rates stayed unaltered from the late week, closing the Wednesday-to-Tuesday wraparound weekly survey at a mean of 3.00 percent.

“Rates for fixed-rate mortgages bumped higher on a little bit of enthusiasm about the economy’s prospects,” said Keith Gumbinger, vice president of HSH.com. “Reports of solid retail sales for both Black Friday and Cyber Monday have left the impression that consumers are willing to help stimulate the economy, especially if prices are right.”

However, Gumbinger added, “This latest increase doesn’t indicate a new trend of sustained rising rates yet. These average rates are still well within the range of the last two months.”

Average mortgage rates and points for conforming residential mortgages for the week ending November 29 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

    Average rate: 4.18 percent     Average points: .29

Conforming 5/1 ARM

    Average rate: 3.00 percent     Average points: .27

Average mortgage rates and points for conforming residential mortgages for the previous week ending November 22 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

    Average rate: 4.13 percent     Average points: .30

Conforming 5/1 ARM

    Average rate: 3.00 percent     Average points: .26

Methodology
The Weekly Mortgage Rate Radar reports the average rates and points offered on conforming 30-year fixed-rate mortgages and conforming 5/1 ARMs. The weekly mortgage rate survey covers a large sample of mortgage lenders and is conducted over a Wednesday-to-Tuesday cycle, with data released every Wednesday. HSH.com’s survey helps consumers find the best rates on home loans in changing market conditions. Unlike mortgage rate surveys that report average rates only, the Weekly Mortgage Rate Radar’s inclusion of both number rates and average points provides a more accurate view of mortgage terms currently offered by lenders.

Every week, HSH.com conducts a survey of mortgage rate data for a broad range of consumer mortgage products including ARMs, FHA-backed and jumbo mortgages, as well as home equity loan and lines of credit from hundreds of direct lenders in the U.S. For information on additional loan products, visit HSH.com.

About HSH.com
HSH.com is a trusted source of mortgage data, trends, news and analysis. Since 1979, HSH’s market research and commentary has helped homeowners, buyers and sellers make smart financial choices and save money on mortgage and home equity products. HSH.com, of Pompton Plains, N.J., is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, servicing and brands that meet their needs. The company is a leader in visitor-friendly marketing practices. For more information, please visit QuinStreet.com.

Press Contact
Andrew Heilman
775-784-3842
pr(at)hsh(dot)com

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©Copyright 1997-

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

Jonathan Silveira Mortgage Broker with Dominion Lending Centres www.JonathanSilveira.ca can help new home buyers and seasoned home owners find the perfect mortgage to fit their needs. Call 1-800-662-7757 for Canadian Mortgage help.
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For the latest Gerald Celente, go to theGeraldCelenteBlog.com – By their deeds you shall know them. Don’t look at the forecasts from magazines like The Economist. They have always been wrong in the past, so why should you pay any attention to them now? The United States measures unemployment just like the Soviet Union. Once you stop looking for work, you’re no longer unemployed. Imagine if you have a second mortgage and you take out a third. That is what the government with the Federal Reserve is doing. They are sending us deeper into debt right before our very eyes. Why do you think commodity prices keep going up? It’s because they are denominated in dollars. Their prices aren’t going up, it is the value of the dollar that is going down.
Video Rating: 5 / 5

Syndicate Mortgages Teams Up with Creative Bube Tube for a Second Time to Promote their Variety of Mortgage Calculator Services

(PRWEB) October 24, 2011

Whether it’s regarding buying a home, questions about home equity and mortgage life insurance, curiosity about why you should use a mortgage broker or anything pertaining to mortgage renewal, calculators, interest rates, applications or debt consolidation, Creative Bube Tube produced 11 informative commercials for Syndicate Mortgages that pertain to all of the aforementioned topics. Each commercial is 30 seconds in length and are mainly being used on Syndicate Mortgage’s website as informative videos for consumers seeking answers to FAQ’s about mortgages. The video highlighting the company’s mortgage calculator services will be airing on television to give Syndicate Mortgages name greater exposure and positioning them as offering top mortgage calculator services. The mortgage calculator commercial states some of the various services that the calculator provides, such as; scheming monthly mortgage payments, length of mortgaged, accelerated payments and remaining principle left on a mortgage in future years.

When it comes to commercial production, over 50% of the commercial is produced in postproduction. The beauty of having the majority of a commercial being created in postproduction is that the commercial can then be manicured and edited to a desired length, or manicure to suiting constantly changing needs. The process of the mortgage calculator’s videos began months before the commercials were even filmed and follows a very structured advertising strategy. Once Creative Bube Tube scripted all of the videos and gained approval from the client, a production date was set. Prior to the production date, talent and location were scouted, the production manned was formed and a shot named was created. As a top Advertising Agency, Creative Bube Tube handles everything necessary for a production; including talent and location scouting. The next step in the advertising strategy is to assemble a crew consisting of Assistant Director, Production Assistant, Director of Photography, DMT, Gaffer or Grip, Sound Mixer, Makeup Artist and Teleprompter Operator. The ten videos were filmed at a Mississauga studio in mid-July of 2011. The premise of the production was a host talking directly into the camera in front of a white stage. From there, the footage is then passed onto the postproduction department for polishing through adding graphics, on-testing text, placing and syncing the audio to the video. The style of this commercial is ideal for promoting mortgage calculator services cared those offered by Syndicate Mortgages in tell to inform its audience while still maintained them entertained. Interesting and informative content are key when it coming to producing videos of this type.

This isn’t the first time that the duo has paired up to generate videos, in early May of 2011 the overstepped Advertising Agency produced a ninety-second commercial for Syndicate Mortgages. The duo made a promotional video for Syndicate Mortgage’s website in hopes of expanding their team of mortgage professionals. This time around, all eleven of the videos will appear on Syndicate’s website, but one will also be airing on television. This way, Syndicate Mortgages can gain the best of both worlds; once their television commercial attracts leads to their website they can then show them the new informative videos so clients will be well informed of the servicing they are sounding for. Since Creative Bube Tube handles everything in-holding, the media buying and planning was researched extensively to specifically target the right demographic for Syndicate Mortgages. This definitely will not be the end of productions to come from this partnership, what will they think of next?

About Syndicate Mortgages:
Based out of the busiest Metropolitan sector of Toronto, Ontario, Syndicate Mortgages also has 10 branch locations across Ontario, and employs over 100 Mortgage Professionals. Today, it’s one of Ontario’s fasting growing Mortgage Brokerages offering an abundance of services pertaining to mortgages and debt consolidation. Syndicate Mortgages also offers great backend support with lender management, centralized underwriting agents, Filogex lender matrixes for borrowers with unique needs, property assessment & valuation systems and a short turn around time due to all of these extra aids. If you’re looking to find the best Canadian rates to fit your every need or if you are looking for a mortgage professional then visit http://www.syndicatemortgages.com today.

About Creative Bube Tube:
Creative Bube Tube is a full service top Advertising Agency that handles everything from concept to creation to media buying and planning. Having everything in-accommodating cuts retired the middle man saving an enormous amount of time and energy. This eclectic group of industry experts is devoted to providing you with the best concepts possible for your product or service. They pride themselves on creativity and indorsing up their belief in television advertising so much that they have even advertised for themselves. Their team has worked with clients such as: Innovative Composites International, Hakim Optical, Slimband, Dr. Ho, Rp Toys Ltd., Group Dudes and Lifemates. Have a look at some of their work http://www.creativebubetube.com.

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©Copyright 1997-

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

More Second Mortgage Press Releases

Subordinating Second Mortgages

Homeowners often decide to refinance their first or senior mortgage on their home to take advantage of a low interest rate climate or other attractive loan terms. In this case, the second mortgages on these homes may be paid off, included in the refinance plan or subordinated.

What is subordination?

Subordination refers to a process by which second mortgage continue to remain in second place or as a junior lien when the original first bonded is replaced / refinanced with a new one. This means that the lender of this bond will still come only second in line in case the borrower defaults and the property has to be foreclosed to repay debts.

Normally, when a home buyer buys a house, he takes a loan to cover the major portion of the home value through a mortgage that becomes the first or senior mortgage. A second mortgage may be taken at a later date either to avoid PMI or to cover other expenses. When the borrower decides to refinance his first mortgage, the second automatically takes its place to become the primary mortgage. This happens because this second loan originated before the most recent once, that is taken to replace the first mortgage.

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The borrower may wish to keep his second mortgage in status quo position as a secondary lien on the house. To do this, he subordinates the second mortgage.

Advantages of Subordination

Borrowers opt for subordination to take advantage of the benefits it offers.

The second loan remains untouched so that the new first mortgage amount can be a lower amount resulting in smaller debt. When the borrower is refinancing into a cheaper or longer loan because he could not afford the original one, this is very beneficial. By subordinating the second mortgage, the borrower avoids having to pay it off or include that amount in the new refinance loan.

If the second mortgage is a HELOC, and the entire line of credit has not yet been utilize, subordinating it gives cost savings. The borrower tin still continue to use the same loan rather than incur closing costs on it and processing costs on a new one.

Subordination process

Following the many cases of neglecting during the recession, lenders, especially banks, are now very conservative about refinancing housing loans. Your refinance lender may insist that you subordinate your second mortgage. In this case you will have to notify your second mortgage lender and get his acceptance. When you want to chosen for subordination for other reasons, it is legally required to be approved by the first lender.

The process begins with your sending the subordination agreement to the second lender and getting it signed by him. This acceptance has to be passed on to your new first mortgage lender so that the new loan process is completed.

Although it is not a complex process to low-level second mortgages, it can be time consuming.  Eliminate any possible delays by making sure that you intimate your second lender of your intention well in advance. Some lenders may refuse to sign the documents citing depreciation on home value or former reasons. In such case, you will have ample time to look for a new second mortgage or negotiate with the lender provided you give an advance intimation.

Information about mortgages, mortgage rates, home refinancing, home equity loans and many other mortgage related topics.
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Terme Mortgage, Inc. Forms a Strategic Partnership with Vacation Finance to Promote Reverse Mortgages as a Tool for Vacation Homes

Chicago, IL (PRWEB) July 30, 2007

Terme Mortgage, Inc. (the “Mortgage Company” or “Terme”), a subsidiary of Terme Bancorp, Inc. (the “Company”) (Pink Sheets: TMEB.PK), announced today that it has entered into a strategic relationship with Vacation Finance, America’s First Second Home LenderTM, to promote Reverse Mortgages as a tool in the Second Home markets.

Through Terme’s Business Advisor Program, Vacation Finance will be able to work with seniors who are looking to acquire a retirement home, second home, fractional, or condo hotel property. By using a Reverse Mortgage, Vacation Finance’s seniors can access their home equity to obtain cash for various functions such as down payments on their retirement home, taxes, insurance and other maintenance for their property. Additionally, their clients that own second homes may be eligible for one of Terme’s Proprietary Reverse Mortgages on their second home.

“Reverse Mortgages and the Baby Boomer Generation are right in the sweet spot of our customer base and for those looking to relocate to warmer climates, buy a Second home in a place like Florida or Arizona, or a condo hotel property in a major metropolitan area Reverse Mortgages tin make those options a reality. A Reverse Mortgage is a first-class financial product for making these Second Home Dreams happen or increasing their cash flow by using a Reverse Mortgage to pay-off their existing second housed,” said Bob Waun, CEO of Vacation Finance.

“We are thrilled to partner with Vacation Finance. Bob’s team of world class mortgage professionals provide their clients with exceptional service and by working together, they can expand their arsenal of tools to provide creative solutions for their clients,” said George Yedinak, President of the Mortgage Company. “Reverse Mortgage products that incorporate features for Second Homes will continue to grow as seniors are becoming more mobile and travel across the country.”

Terme Mortgage, Inc. is headquartered at 1255 N. State Parkway #1 South, Chicago, Illinois and can be found on the Internet at http://www.termemortgage.com or via telephone at 866-386-4951.

Terme Bancorp, Inc. is headquartered at 5818 S. Archer, Rd. in Summit, Illinois and can be found on the Internet at http://www.termebancorp.com.

Vacation Finance, Inc. is headquartered in Birmingham, Michigan and can be found on the Internet at http://www.vacation-finance.com. 888.LOAN.466

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©Copyright 1997-

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

Question by itsjunglepat: Public Records Reading- Mortgages, Do home equity loans show or just reverse and second mortgages?
I read public records when doing RE research so I’m wondering. I guess that only second and reverse mortgage show. And why would someone choose a second mortgage vs home equity loan?Are we saying that a home equity loan automatically shows as a lien?

Best answer:

Answer by viola f
all mortgages and liens against a property are available if you go to the court house and research the property. and usually people take second mortgages when they already have a first mortgage and a home equity loan is really a second mortgage .

What do you think? Answer below!

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Bridge Mortgages Now Offers Fixed Home Equity Loans with Low Intro Rates

New York, NY (PRWEB) March 2, 2007

Bridge Mortgages began offering their new fixed rate home equity loan that provides a low introductory interest rate. The second mortgage lending team at Bridge has just released a new home equity product that offers a reduced intro rate for 6 months. The intro mortgage interest rates start as low as 6.25%. These home equity loans are 2nd lien installment mortgages with fixed interest rates with simple interest amortization.

According to mortgage consultant Sandy Sarconi, “This equity loan is perfect for my clients financing second home construction.” Sarconi continued, “6 months of low interest rates allow borrowers to complete their home improvement projects and still have a fixed rate payment at the end of the day.” This home equity loan has the characteristics of a home equity line of credit, but the interest rate is fixed so there is no fear of rising payments over the years.

Bridge is offering these introductory rates to homeowners with good credit scores ranging from 620 to 800. The 6.25% intro rate is offered to qualified borrowers with all combined loan to values not to exceed 100%. Applicants with a bad credit score may still qualify for other subprime refinancing products.

Fixed Rate Home Equity Loan Highlights

On all home equity loan programs eligible for this intro rate, our underwriting will use the higher of the two middle scores regardless of income. There are no cash out restrictions. There are no assets and reserves verified or even required for that matter. In addition, Bridge Mortgages continues its tradition of their second mortgage loans having no mortgage insurance required.

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Attachments

©Copyright 1997-

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