Investing with Suntrust Foreclosure Homes [10to5mortgage.blogspot.com]
www.thereibrain.com Teaches you how to read a mortgage rate sheet step by step. This is Part 1 of 2.
10to5mortgage.blogspot.com How to Read A Mortgage Rate Sheet - Part 1
Suntrust foreclosure homes are really bank owned foreclosures whose owners have failed to fulfill their loan obligations. Because there are a large variety of homeowners who default, there is also a wide variety of properties that go into the inventory. You can find apartments, condos, single-unit and multi-unit homes and many others. If you are a beginning investor, buying these foreclosures will allow you to invest your money wisely and grow them to their maximum potential.
Why Buy Suntrust Foreclosures
The first and primary reason why you should buy Suntrust foreclosure homes is because their rates are currently low and you may lose the chance of gaining these unbelievable prices in the coming months or years if you postpone your purchase. If you are renting now and dishing out hundreds or even thousands of dollars in rental money, you may want to consider buying a Suntrust foreclosed property and put that money in your mortgage to earn equity for yourself.
Also, it is definitely a good time to take advantage of the large tax breaks available to homeowners.
Of course, another reason why you should buy Suntrust foreclosures is because the property prices now are too good to resist and they will definitely increase over time. If you do not start building your equity now, you may never get the opportunity to build your retirement nest by the time you are ready to quit working. Suntrust foreclosure homes will allow you to at least start saving your money and investing in a property that will surely appreciate over time.
With all these reasons, it is not difficult to see why buying cheap foreclosed properties can ultimately be a good investment move. All you need to do is to find a good and reliable source of foreclosure information and you can already start building up your knowledge for a successful foreclosure investing. Suggest Investing with Suntrust Foreclosure Homes Issues
Question by Mark B: Can I refinance my mortgage with no closing costs if I owe more than it is worth? I already have a 30 year fixed (6.38%) but would like to take advantage of the lower rates now. My mortgage is through SunTrust and (unfortunately) I have never been late with payments and am not in any financial distress. The main problem is that because of the current market, I owe more than what it is worth. Is this possible without bringing any money to the table for closing? Best answer for Can I refinance my mortgage with no closing costs if I owe more than it is worth?:
Answer by kissamahbutt
Not a chance. You will always have to pay processing fees when you refinance, and because you are up-side-down in the loan, it will be hard to get approved. You will need to bring money.
Answer by Gaytheist Buddha
While not the best of interest rates, that is much better than anything from the 1970s through 1990s. It is doubtful you can refinance anything more than 95% LTV (loan to value). Talk to a broker for possible creative financing with a first and second trust deed by try to avoid getting caught in one of those strange exotic loans that caused this financial crisis.
Answer by Taylor B
Closing costs can be rolled into the mortgage. We just refinanced and for a 15 year, fixed rate 5 3/8%, with 6,000 in closing costs. There are options will minimal or no closing costs however.
Answer by Doctor Deth
I doubt you can refinance with no costs ANYTIME Why would any bank do a mortgage or refi for free? that's how they make a lot of their money up front to pay the mortgage broker commissions, etc - if you owe more than the house is worth, it will be very difficult to refi at all
Answer by reenzz
You will not be able to re-fi if your upside down with your mortgage. You would need to take the difference & closing costs to the table in order to close.
Answer by glenn
Your best bet is to call your current mortagage company. They are "on the hook" already and may work something out with you. No other company would have any reason to do anything to help you.
Answer by dz
no you cant the stimulas is only for people in arms or intrest only if you have a fixed rate and never been late but are upside down all you can do is wait until the values go up stop being greedy and just thank god YOU can afford your payments.
