Steps to Freedom

Sunday, August 9, 2009

Renovating Government Foreclosures and Building Sweat Equity - On a Budget

Many government foreclosed homes are in great shape and ready for you to move in. However, many excellent bargains on the foreclosures market require a little bit of work - sometimes only some clean up and paint - to make them look their best. If you have a foreclosure property that needs a little bit of a touch-up, that is actually great news. It means that you can quickly and easily build sweat equity. This means that you can renovate, clean, and repair a few minor things in the foreclosure and actually build the value of the property.

If you have a foreclosure that you would like to repair and clean up a little bit, you will want to spend as little money as possible while creating the most dramatic results possible. While it is possible to spend tens of thousands of dollars on a renovation, it is also possible to spend a fraction of that amount to get the same terrific results. Plus, the less you spend on your renovations, the more profits you will realize because the less you will invest to build your property's value more.

The first step in making your foreclosure look its best is to look for quality, low-cost supplies you can use to make the property look great. You may need molding, for example, or replacement flooring, doors, windows, or appliances for your foreclosure. You can save money on these purchases by looking in classified ads.

Classified ads are filled with low-cost supplies that are in great shape. Rather than paying full retail price, you can save a lot of money by purchasing used items. Some classified ads even feature brand-new building materials that are sold at a fraction of the price of the materials sold in stores. Write down what you need and then write down the specifics of what you need - such as the dimensions of those windows - and start scouring the newspapers. You never know what you'll find.

Another great option is to become friends with a contractor or renovator. These professionals often have access to very good quality used products. For example, a contractor may need to remove cabinets from a home in order to install new cabinets. The homeowner will usually ask the contractor to simply dispose of these cabinets, even if they are still in very good condition. If you know a contractor, he or she may be willing to sell you these items for a very affordable price. Some contractors even give these items away to avoid having to pay for their disposal.

When renovating your government foreclosure, also consider painting or replacing only parts of items. For example, if a wood floor needs some work, consider replacing only a few floorboards rather than the whole floor. You will often still get a great result, but at a fraction of the price. Similarly, if the fridge that came with the government foreclosure works great but has lots of chips, consider re-enameling the fridge. A new coat of enamel paint costs a tiny fraction of the price of a new refrigerator. You'll be amazed at the number of things you can fix simply by repairing or repainting. As an added bonus, you can often paint and repair these items yourself, so you will save money on contractors as well.

Joseph B. Smith has been educating buyers on the finer points of Government Foreclosures at ForeclosureListingsNationWide.com for over five years.

Article Source: http://EzineArticles.com/?expert=Joseph_B._Smith
Renovating Government Foreclosures and Building Sweat Equity - On a Budget

Friday, August 7, 2009

Real Estate Investors Discover Forex to be a Better Deal During Bubble

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By Scott Shubert

Every day we read more news about the real estate "bubble" and how prices are leveling off or even dropping around the country. Naturally this news makes many real estate investors more cautious about buying. Flippers are no longer able to rely on rapid appreciation in order to make their profits. Investors who buy and hold or lease option properties are wondering if their deals will earn any profit in the next 2 to 3 years and many wonder how long they will have to hold a property to realize any profit. Many investors have discovered that they may be stuck with a property they cannot sell for a profit and cannot rent with a positive or break even cash flow now that real estate is just not selling the way it was in the recent boom cycle. Some investors are considering other alternatives and either holding off on further buying or getting out of the business altogether until there are signals that the market has reached the bottom of its current correction.

Accelerated Wealth Through Forex Trading

While it is currently uncertain as to whether real estate prices will see any rise over the next few years some investors have chosen to postpone any further buying activity and look at other alternatives. One of these alternatives that has become quite appealing to some is Forex trading. Investors who have been taught the power of leverage through "no money down" buying strategies quickly understand the power of leverage in the Forex market. Forex trading is one of the few businesses in which one can start with a relatively small amount of capital and within a short period of time begin multiplying that capital into a larger and larger numbers. Some traders who have mastered this business have taken accounts from $1000 to over a million in one year. Not only would that be extremely difficult to achieve in real estate, in most cases the equity that is achieved in real estate is not necessarily liquid.

No "Down" or "Bear" Market in Forex

"Forex" is short for Foreign Exchange or the currency market. Because currencies are traded in pairs such as the Euro vs. the U.S. Dollar traders are never stuck with a downward trending market. If the Euro's value is falling relative to the U.S. Dollar the dollar is rising relative to the Euro and vice versa. A trader may buy or sell the currency pair at any time and profit is earned by trading in the direction of the movement whether it be up or down. If a Forex trader believes the Euro vs. the U.S. Dollar pair will rise she will enter a trade position of buying the pair. In this case Euros are being bought and dollars are being sold. If the trader believes the pair will fall he will simply enter a trade position of selling the pair. For trading purposes it makes no difference whether the pair is rising or falling. Buying and selling are both executed the same with the click of a button and profits can be seen immediately as the pair moves in the direction of your trade.

100% Liquid Market

The Forex market is the largest market in the world and it is driven by banks and institutions as well as managed funds and individual investors. A currency represents and entire nation's economy and it is not possible to manipulate the value of a currency the way it sometimes happens in the stock market. Because banks throughout the world always have an exchange rate for currencies there is never a time when a Forex trade is not totally liquid. A Forex trader does not need to wait for a broker to locate a buyer because a trade is always immediately closed with the click of a mouse. Transactions are settled in cash that appears in the trading account immediately when the trade is closed.

What is the Risk?

Often we may hear that trading Forex is risky business. There are risks and expenses involved in any business. One of the benefits of starting a Forex trading business is that a trader can open a demo account and trade while learning the business without ever risking any real money. Only when the ability to trade profitably consistently over time has been demonstrated should a live account be opened. One of the most important aspects of learning to trade is using proper money management and risk management. Successful traders know how to identify trading opportunities and they know exactly how much to risk on a given trade. Win to loss ratios and risk to reward ratios are a part of trading just like knowing what products to stock are an important part of the retail business. If you hear of people who lost their trading capital while learning to trade you can be assured that they did not 1. learn to trade before opening a live account and 2. use proper money management and risk management.

How to Learn More about the Forex Trading Business

There are many sources of information on Forex trading available all over the internet. Unfortunately, very little of it is really effective in helping people to master the business of trading. Most of the information available is connected either directly or indirectly with the Forex Broker industry. And as many traders have discovered, the methods being promoted are often designed to benefit the brokers more than the trader. Is there any way to bypass the process of trial and error and really save time on the learning curve that is required in Forex trading? Entrepreneurs who have been successful in other businesses know the answer to this question. Find people who are already successful in the business of what you intend to do and do what they do. Mentors and mastermind groups provide the key to the fastest route to success. Just be aware that many "mentors" and training companies are connected with the broker industry as Introducing Brokers and they have a vested interest in teaching trading strategies that may not be in your best interest. For more information you may want to discuss the credibility of training programs with other traders in a trading discussion forum or at a trading club in your local area.

Scott Shubert is the founder of http://www.TradingMasterMind.com , a community of traders who share insights and results to contribute to the success of the entire community.

Article Source: http://EzineArticles.com/?expert=Scott_Shubert
http://EzineArticles.com/?Real-Estate-Investors-Discover-Forex-to-be-a-Better-Deal-During-Bubble&id=368079

Thursday, August 6, 2009

The Foreclosure Process for Real Estate Investors

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By Rick Halperin

Are you looking at foreclosures as a way to continue to build your real estate portfolio or to reposition equity? This article looks at the foreclosure process for real estate investors.

Changing market conditions and rising interest rates have pushed increasing numbers of property owners over the edge. Is their misfortune an opportunity for you? Based on the numerous seminars advertising to explain the foreclosure process for real estate investors, seminar promoters sure think so. Let’s explore where you can find some information on potential foreclosure properties on your own.

First, there are many search engines that can give you information on foreclosure properties and the foreclosure process for real estate investors. Once found, you can contact the property owners who have gotten too far behind on their mortgage payments and offer to buy their real estate. This will allow them to avoid foreclosure and the damage to their credit. In addition they could potentially receive some money in exchange for losing their property, which they would not were the bank to foreclose on the property.

Other sources are foreclosure auctions. Thousands of properties get auctioned off every week across the country. Many of these properties are sold for ridiculously low prices. To locate these auctions, check online, in newspapers, or simply ask a bank when their next scheduled auction will take place. But be advised, there is usually more competition at foreclosure auctions than there is when buying pre-foreclosures.

An REO is real estate owned by the bank. An REO is different from a foreclosure property in that the bank has already tried to sell it at a foreclosure auction and has had no luck getting bids. Because the property was not bid on, the bank then became the owner of the property. Naturally, the bank does not want to keep the REO any longer than possible, and this makes it a great opportunity for an investor. In buying an REO, you have distinct advantages that you do not when buying a foreclosure property. You are able to buy on your own schedule; you can make an offer on the home any time, you don’t have to wait for bidding to begin; and you can inspect it before you buy.

However, just because the bank owns a property does not make it a good deal. In fact, when you see that a home or property is an REO you have to wonder exactly what is wrong with it. So invest with caution.

The http://www.gotexit.net foreclosure process for real estate investors must be done with caution. But, investing in foreclosure properties has interesting potential for being an appropriate strategy for growing your real estate portfolio, or for repositioning the equity from other properties.

Article Source: Rick Halperin
The Foreclosure Process for Real Estate Investors

Monday, August 3, 2009

Commercial Real Estate Appreciation - How You Can Increase the Value of Your Property in Any Market

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By Karen Hanover

Because commercial real estate (CRE) property value is based on net operating income (NOI), if you can increase the NOI, you can not only increase your cash flow, but you can also increase the property's value as well.

Let's take an example: a 100 unit apartment complex producing $100,000 of NOI in a 10 Cap market is valued at $1,000,000.

NOI/Cap Rate= Value

$100,000/.10=$1,000,000

By increasing that NOI to $190,000, in that same 10 Cap market (meaning the market pricing that investors will pay for that income (NOI) hasn't changed), POOF, the property is now valued at $1,900,000.

$190,000/.10=$1,900,000

So in addition to putting $90,000 per year more cash in your pocket you just increased your equity by $900,000. Sound good? Are you amazed by way I quickly manipulated those numbers to make the example fall into place? Are you saying to yourself, "Well Karen, that's all good on paper, but how could I just magically increase the NOI by $90,000?" Well, after all of the articles I've written as an authority on CRE, you should just trust me but since you're the skeptical type, I'll show you!

As stated previously, if you can increase NOI, you can increase the value of the property. There are 2 ways to increase NOI.
1. Take in more money
2. Spend less money to operate the property.

Notice I didn't say, reducing the debt service paid to the lender. Although this will ultimately increase your cash flow before taxes, it has absolutely no effect on the value of the property. The property is worth the same amount of money whether it has a mortgage or is owned free and clear. Make sense?

Let's just say that after you purchased this 100 unit apartment complex, as the leases expired and were either renewed or the units re-rented, you increased the rent by a mere $25 per month. That's a monthly increase of $2,500 and a yearly increase of $30,000.

$25 x 100 units = $2,500 per month $2,500 x 12 months = $30,000

So POOF, you just gave yourself a raise of $30,000 per year. Congratulations!

By the way, how much would you have gotten if you increased rents by $25 a single family house? That's right... $25! That is the beauty of commercial real estate!

Now, let's just say that to reduce operating expenses you make the capital investment into individually metering the units with their own utility meters so the tenants can pay for their own utilities instead of you, the landlord. If the savings to you is a mere $50 per month, that would equate to $60,000 increased NOI because of decreased expenses.

$50 x 100 units = $5,000 per month (decreased expenses) $5,000 x 12 months = $60,000

So POOF, you just saved yourself $60,000 per year in utility expenses thereby putting the extra $60,000 into your pocket each and every year you own the property. Remember you earn these cash flows year after year, not just once. Now let's look at the effect on value in the same 10 Cap market. $100,000 + $30,000 (increased rents) + $60,000 (decreased expenses) = $190,000.

IF: $100,000/.10 = $1,000,000 THEN $190,000/.10 = $1,900,000

So you can see that you can not only influence the amount of money you earn from cash flow, but you can also control the value of your investment regardless of market conditions.

In residential investing, there is only one strategy. Regardless of how you acquire the property (foreclosure, etc.), the goal is to buy low and wait for the market to go up so you can sell at a profit or refinance. In this market, residential investors may be waiting a long time... a very long time. Additionally, if they don't have positive cash flow in the interim, they will not see a return on that investment for years to come.

By investing in CRE, you earn a return on your investment from Day 1 because of the significant cash flows. Additionally, by improving the NOI through your own efforts, you can increase the value of your property regardless of market conditions. It is for these reasons that CRE is a much safer and more profitable investment than residential investing.

Take a FREE Online Course! http://www.cieinst.com

Karen Hanover is well known as a Certified Commercial Real Estate Advisor, President of the National Apartment Investors Association, Chairman of the National Commercial Real Estate Advisory Board and Senior Instructor for both the Self Storage Education Institute and the Apartments Education Institute.

As a CCIM Candidate, a highly prestigious designation, often called the "Ph.D. of commercial real estate" Karen works as a busy commercial real estate agent with Marcus & Millichap one of the nation's largest and most highly regarded commercial brokerage firms.

Sought by industry insiders for their toughest deals, Karen has helped thousands to create wealth in commercial real estate with less risk even in today's uncertain economy.

Karen founded the Commercial Investment Education Institute which provides educational instruction for investors on multiple subjects including apartments, self storage, office buildings, retail centers, mobile home parks and more. Her courses are taught in a friendly and easy to understand manner.

Article Source: http://EzineArticles.com/?expert=Karen_Hanover
http://EzineArticles.com/?Commercial-Real-Estate-Appreciation---How-You-Can-Increase-the-Value-of-Your-Property-in-Any-Market&id=1364445

Friday, July 31, 2009

Home Equity Loans, are they the solution or the problem

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Home Equity Loans

Home equity loans are loans that are made to people in need of finance. They are issued against the security of their homes. With this kind of loan, the home of a borrower is kept as collateral against the sum borrowed by them. This type of loan, equity home loans is sometimes used by individuals who are in desperate need of money. Other reasons a person might use a home equity loan is to gain working capital to invest in a business or a piece of investment real estate.

Home equity loans, in recent times especially have emerged as a main source of finance for people who are in desperate need of money. More & more people are increasingly resorting to home equity loans to fund immediate financial needs, the main reason being the collateral & security factor. Usually, to take up a loan of such huge amount, people have to sell off their assets & dispose of their belongings to raise the finance, for their needs. But, the six standing character of home equity loan is the fact that, the borrower needs not to submit extra collateral except the house against which we is getting the loan, like we needs to do for getting any other loan credited in his account. Also equity home loans are beneficial & affordable since the interest that accrues, actually accrues on the amount that the borrower has drawn till that time, or while repayment of the loan, the borrower needs to pay the interest only on the amount that is yet to be repaid. All these enticing factors are drawing more & more number of individuals, looking for a loan that involves easy repayment terms.

The best part of home equity loans is that of revolving credit, once the amount of loan that the lender will lend to the borrower has been fixed by the lender, calculating on the value of the home against which loan is sanctioned, the borrower needs not to borrow the entire amount simultaneously but can actually draw according to his needs, & pay the interest only on the amount that we has drawn till that time & not the entire amount of loan that has been sanctioned. The lenders to attract more & more borrowers also give the borrowers lots of schemes, which make the repayment of the loan all the more easy. The fact that borrower needs not give any other collateral, or pay any extra interest makes the entire thing even more easy for the borrower.

Tuesday, July 21, 2009

3 Big Myths About Debt Relief Solutions

By Jason Rodriguez

We know the pressure can be overwhelming many times when you are facing an enormous debt load and don't know what to do about it. There are solutions that provide debt relief, but you have to evaluate options carefully because everyone's circumstances are different. It's important to avoid bad information, so here we present three common myths about debt relief solutions.

Myth number one: You absolutely must pay every penny of your debt: We're not advocating that you abandon your responsibility just because you don't feel like paying your credit card bills or other financial obligations. Likewise, you would never encourage people to enter into an agreement when you know you will never be able to pay off the debt. This is irresponsible and borders on fraud.

However, many honest folks work hard to pay off their bills but end up taking on a little more than they can handle. In these situations, the consumer may simply not be able to meet his obligations fully. If credit card companies know your situation, they may arrange a settlement wherein you pay only a fraction of the original amount. This may not be good for your credit, but if your financial situation is bad enough your credit is not foremost on your mind.
Myth number two: If you damage your credit, you'll never be able to fix it: Bad credit does have some long-term ramifications, and you may have trouble qualifying for loans if you haven't been paying your bills. If you're looking for a car loan, mortgage, or any other kind of credit, you may be forced to pay higher interest rates or even be denied completely because of your poor credit history.

However, you can repair your credit over time, even though this requires some patience and discipline. If you have a poor credit score, this probably means that you have not been able to pay your bills because you are charging too much to begin with. Look at this as a learning experience and develop a better budget for the future.
Myth number three: Bankruptcy should only be the very last resort.: Bankruptcy should never be taken lightly, because it will affect your ability to get credit for some years to come. However, saying that bankruptcy should only be a last resort is not a good idea. What if you find yourself facing tens of thousands of dollars of credit card bills that you simply cannot pay? Should you use a home equity loan or withdraw your retirement funds to pay down this debt?

Absolutely not! These funds would be protected if you declared bankruptcy, while your credit card debt would be wiped out. Never put your most valuable possessions on the line to pay off unsecured debt.

Don't let the fear of your debt take over your life. To learn more about how to deal with debt and debt relief solutions, visit us at http://findingdebtsolutions.com.

Article Source: http://EzineArticles.com/?expert=Jason_Rodriguez
http://EzineArticles.com/?3-Big-Myths-About-Debt-Relief-Solutions&id=2594875

Monday, July 20, 2009

How to Avoid Bankruptcy and Get Out of Debt

By J. Star

Are you carrying over $10,000 in credit card, medical, student loan, business and/or other unsecured debt? Does it seem like bankruptcy is the only option? Many people do not realize the options they have to avoid bankruptcy. After researching all your options and consulting with your financial and legal advisors you may determine that bankruptcy is the best option for you. But it is important to research your alternatives first.

Here is a quick breakdown of what they are:

The Debt Snowball. This option is only available to those who still can afford to pay there current debt but want to get debt free faster. It is a simple account method where you stack your debts according to lowest to highest balance or highest to lowest interest rate. You then put all extra money above the minimum payments towards the debt at the top of the last. As you pay off debts you put the money that you were spending on the previous debt(s) toward the debt next in line. Using this method you will pay off your debts much faster and will save thousands in interest.
Debt Consolidation. In debt consolidation, you take out a larger loan to payoff a group of smaller loans. In order for this to be effective the loan used to payoff your other debt must have a lower interest rate than the average of all interest rates across your other debt. With a lower interest rate your payment will go down and thus giving you some financial breathing room.
Debt Management Plan. In a debt management plan you negotiate the terms of your existing debt in order to lower your interest rate and/or extend your payment period.
Debt Settlement. Settling your debt involves negotiating a flat payoff of your debt at an amount significantly less than your actual payoff. In order to be able to negotiate such a settlement you must be late on your payments to the creditor.

This is a brief overview of the options for avoiding bankruptcy. No two people are the same and no solution is right for everyone. Study the options, understand the pros and cons and then, together with your advisors, choose the path that is right for you.

Lime Financial's primary objective is to help lighten the weight of debt and credit disarray from the lives of our clients.. Learn more about our Debt Settlement Services.

Article Source: http://EzineArticles.com/?expert=J._Star

http://EzineArticles.com/?How-to-Avoid-Bankruptcy-and-Get-Out-of-Debt&id=2620257

You Can Beat Credit Card Debt by Erasing 50% of Your Debts!

By Scott Chaflin

Would you like to have the debt that you keep paying to credit card companies legally removed? A huge number of people in America are living with over $10,000 in past balances on their credit cards, and unfortunately, 95% of these people will be bankrupt in the next 2 to 3 years because the debt will keep piling up because of the interest.

It is no surprise that credit companies keep you in the dark when it comes to the options available to you to erase some of the money you owe them, but there are things you can do.

Fact: Credit cards are debt traps.
Fact: Many Americans have been kept in the dark about their options for erasing their debt.
Fact: 95% of all bankruptcies are caused by credit-card debt.

$1000.00 will take over 20 years to pay off

Did you know a simple $1000.00 charge will take over 20 years to pay off if you only pay the minimum payment? Unfortunately, this is true and CC companies do not share these facts because they do not mind forcing you into bankruptcy and stealing everything Americans own through their interest fees.

We have seen 25 year olds over $25,000 in debt, and many of these people will have to file for bankruptcy in the next 2-5 years. There is no reason to stay in debt when you do not have too as many private companies are staring to release free information that can help any consumer erase half of their debt so they can take more guilt free vacations without having to worry about another phone call or letter from their creditor again.

Every American who has a past due balance should check for free to see if they can get their debt erased so you can move on with your life and forget about paying your CC company all of your earnings.

I have found this resource to help you reduce your debt by 50%. They are a reputable and safe company to work with.There is no charge for them to help you.

The have put information together that can give you little known tips to get out of debt and tactics to get your debt erased by 50%. There is no charge, all you have to do is enter your email address.

To read this information and find out how much money you get get erased, Click Here.

Article Source: http://EzineArticles.com/?expert=Scott_Chaflin
http://EzineArticles.com/?Take-Advantage-of-the-Recession-and-Erase-50%-of-Your-Credit-Card-Debt&id=2624380

Never Pay it Back - Free Debt Relief Grant Money

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By Sarah Beckham

Getting out of debt is a serious concern among American citizens today. Free government debt grants are the perfect solution to the current American financing problems, because they are not loans, nor are they a consolidation program. The purpose for government grant program availability is to get you out of debt, not deeper into it.

Personal debt relief grants are actually free government money that you will never have to pay back.

This is true. The government gives away over eighty seven billion dollars to qualified applicants who apply for personal debt relief grants each and every year. There is a great need for free grant money among the American population today, because nearly everyone has suffered some type of astronomical financial setbacks as of late. As a result, more and more American taxpayers are applying for, and receiving this generous financial assistance.

What can be accomplished by obtaining free debt relief grants from the United States government?

There is very little that you cannot do to repair your financial situation if you are found eligible to receive personal debt relief grant funding. Many American taxpaying citizens have recently found that by applying for this financial aid they were able to acquire enough free government money to completely turn their circumstances around in a very positive way. Many have...

Received personal debt grants to pay off past due utilities to avoid disconnections.

*Used free government money to pay past due automobile payments to escape vehicle repossession.

*Obtained thousands of dollars to pay back rent and have avoided eviction.

*Some have received tens of thousands to pay defaulted mortgages and back taxes and have saved their homes from foreclosure as a result.

*Personal debt relief grants can even be issued to pay off your past due credit card balances.

The top three best benefits of obtaining personal debt relief grants...

You can actually escape the dreaded last resort of bankruptcy.
Since you have used free government money to pay off all of your creditors, your credit rating will instantly improve...dramatically
Last but definitely not least...you will never have to pay this money back...ever.

Shouldn't you follow the links below to find out if you are on of the millions of Americans who can be approved for thousands of dollars in free government money by applying for personal debt relief grants?

Get Grants for Individuals and see how much money you qualify to receive today and never pay back.

->> Claim your Apply for Personal Grants...

Article Source: http://EzineArticles.com/?expert=Sarah_Beckham
http://EzineArticles.com/?Never-Pay-it-Back---Free-Debt-Relief-Grant-Money&id=2364575

Friday, July 17, 2009

Adjustable Home Loans Explained

By Corey T Bruhn

Adjustable home loans provided people with all credit grades the ability to buy homes or refinance their mortgages just a few short years ago. Adjustable home loans offered lower rates then a fixed rate loan and this helped people buy a little more house then they could afford with a fixed rate loan.

When The Adjustable Rate Mortgage Problems Started

When the real estate and credit markets started to slow and property values fall many people found themselves unable to refinance their ARM mortgage. This inability to refinance was the direct result of banks cutting loan programs for bad credit borrowers and property values falling.

Many borrowers were now facing ARM mortgages with rates and payments that were increasing to a point where they were not able to pay their payments. Foreclosures then started to happen at an alarming rate. If you are one of these borrowers the tips bellow can help you save your home.

What You Can Do If You Cannot Refinance Your ARM Mortgage

Today all the major lenders know that adjustable rate mortgages are the main reason people are losing their homes and the banks are losing money. To combat this many banks are now letting people modify their existing loan in order to make their mortgage more affordable and also more stable by making the ARM a fixed rate loan.

In most cases the lender will evaluate your current income and other assets to determine your ability to make the new payment amount. Generally they will want to see your debt to income ratios are 40-45%. Any higher and they my not modify your loan due to risk factors.

How Can I Figure My Debt Ratio

Your debt to income ratio can be figured by taking you monthly bills like credit card payments,car payment mortgage payments and property tax payments and dividing it by your gross monthly income. So if you had $800 in payments every month and made $2000 your debt to income would be 40% or 800/2000=.4 or 40%. Bills not figured into the equation are utility payments,phone bills and other similar expenses. Getting a loan modification for adjustable rate mortgages is not as hard as people think but keep in mind your lender is only going to modify loans that will be paid back.

Adjustable Rate Mortgages can be feast or famine these days. Find out what an adjustable rate mortgage is and if this type of loan is right for you. Read our adjustable rate mortgage help information at http://www.adjustablemortgageinfo.com/

Article Source: http://EzineArticles.com/?expert=Corey_T_Bruhn
http://EzineArticles.com/?Adjustable-Home-Loans-Explained&id=2013318

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Thursday, July 16, 2009

Apartment Finance - How About Some Good News?

By Jeff Rauth

Apartment finance is weathering the current credit crisis nicely compared to other sectors of the commercial mortgage business. For example, owner occupied conventional mortgages are experiencing significant restrictions and loan requests above 60% loan to value, that do not fit the SBA guidelines have few, if any options.

In contrast, 80% financing on purchases and 75% loan to value on refinances, is still an option. Long term fixed rates, like five, ten year and even 30 year is available. Also, interest rates themselves are very low (2/10/09) as we are seeing low 6%'s and even high 5%'s for strong borrowers on these long term high rate. As a result many borrowers that went with floating conduit loans are now opting to refinance into long fixed rates due to concerns with where rates will go if inflation kicks in.

Apartment Finance

One of the main changes with multifamily finance is with underwriting going "global". Many veteran apartment owners will be unaccustomed to the additional scrutiny. Historically, most of the underwriting focused on the property itself, primarily in concern to the cash flow of the property. Better known as the debt coverage ratio, underwriting wanted to determine if the properties income could carry all of the associated expenses, and the proposed loan. That's essentially was the main focus.

Now however, underwriters also want to examine all of the borrower's income and expenses both personally and from other, none related businesses. What they are investigating is whether the borrower is above water on a cash flow basis, over the entire financial picture, including the subject property.

Most borrowers will put up with the additional "brain damage" as they really have no other choice with apartment finance. As the golden rule points out "he who has the gold, makes the rules". And besides just accepting it, the loan programs are still very attractive for the borrower.

Jeff Rauth is President of Commercial Finance Advisors, Inc out of Birmingham, Michigan a national commercial mortgage firm. Their focus is on commercial loans from $400,000 - $10,000,000. 248 885-8797. apartment loans or commercial bridge loans

Article Source: http://EzineArticles.com/?expert=Jeff_Rauth
http://EzineArticles.com/?Apartment-Finance---How-About-Some-Good-News?&id=1991024

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Wednesday, July 15, 2009

Home Financing Tips For Buying a House

By R A Smith

If you are thinking about buying a home, one of the first things to do is find out what price range you can afford. Getting pre-approved for home financing can determine the maximum price and loan amount that you can get, based on your credit scores, income, and down payment. A mortgage pre-approval can save time and effort in your home search, and tells others that you are ready and able to buy a home.

Here's a Collection of Other Home Financing Tips:

Need flexibility on credit issues?

In addition to a low down payment, an FHA mortgage allows lower credit scores than conventional home financing. A bankruptcy only needs to be discharged for 2 years, and 3 years on a foreclosure.

Need payment choices for a tight budget?

Some lenders offers flexible mortgage terms with a 30 year fixed rate that gives you a payment choice each month for interest only or a fully amortized payment, which could help when money is tight.

Do you want an option for lower closing costs?

If you need to reduce your closing costs, you typically have the choice of decreasing the points by increasing the rate. Mortgage rates are priced to allow you to buy the interest rate up or down.

How long will you keep your mortgage?

If you plan to keep your mortgage for less than five years, you may be able to save money on your payments with a 5 year fixed rate plan. Also consider financing your home with zero points.

What debts are counted in your debt ratio?

Monthly debt payments are added to a mortgage to calculate a back-end debt ratio, including: credit card minimum payments, car loans, student loan, personal loan, alimony, child support, tax liens.

Are you required to have an impound account?

An impound account is money collected with the monthly loan payment to be set aside in reserve to pay property taxes and insurance. It's usually required on mortgages with less than 20% down payment.

Buying a condo with an FHA mortgage?

A condominium project must be FHA approved in order to get an FHA loan. If the project is not approved, the FHA spot loan program is designed to provide financing for an individual unit.

What about opening new credit accounts?

Applying for a new credit card, or financing the purchase of anything, just before or during the mortgage process can drop your credit scores, and lower credit scores can cause a higher rate or worse.

Are you planning a job or career change?

If you plan to make a job change, especially if the change involves commission or a different line of work, wait until after your new mortgage has funded, to avoid creating a potential problem.

Article written by Rick Smith at http://www.crhome.com, additional loan information at http://www.ditech.com

Article Source: http://EzineArticles.com/?expert=R_A_Smith
http://EzineArticles.com/?Home-Financing-Tips-For-Buying-a-House&id=1974969

Tuesday, July 14, 2009

Debt Consolidation Home Owner Loan

Debt Consolidation Home Owner Loan
By James Eccles

A debt consolidation homeowner loan is a secured loan, finance or a sum of money (usually large) that can be possibly secured against your house or another asset, i.e car. Because it is a secured loan it is also easier to attain with higher sums of money available, at lower rates with a higher approval rate, because it is safer for the bank to lend you the money i.e. secured.

Secured homeowner loans are generally preferred by the people seeking finance, as opposed to an unsecured lend, due to lower interest rates, so they are a lower cost to the borrower.

Debt consolidation home owner loan- how to get one?

There are many ways of getting a home owner loan for means of debt consolidation.

There are government organisations that you can speak to in every country to help in all matters of finance, another thing worth trying is checking to see if you are absolutely 100% liable for the debt, as at times it is possible that it is not completely your responsibility to pay the money back.

One way is to just try Google, and look for the search terms "Debt consolidation" or secured finance etc or you could try some of the branded firms like firstplus, or direct line etc, other than that there will be ads in your local newspaper or yellow pages, even the national tabloids, and TV adverts.

If it was a large sum of money you want, then you could also look into remortgaging to release some capital from your existing assets, to improve credit scores, try taking out a small loan and paying it off promptly to enhance credit scores.

To apply for a homeowner (secured/same thing) loan apply here

Article Source: http://EzineArticles.com/?expert=James_Eccles
http://EzineArticles.com/?Debt-Consolidation-Home-Owner-Loan&id=1990901

See Our Disclaimer Here.

Home Loans - Possible Hurdles and Solutions

By Agni Putra

A Home Loan is a long-term legal contract between a customer (home loan seeker) and the bank. Hence it is very important for a home loan seeker to be fully aware of all the legal terms and conditions that involve in the processing of a home loan.

A home-loan seeker may face several difficulties including certain legal issues in the processing of a home loan. He/she has to be very careful and must have a good knowledge of all the legal aspects pertaining to home loan processing. The following tips will greatly help you to educate yourselves in this regard and obtain a hassle-free home loan.

1. Home loans process starts with documentation.
Documents pertaining to a property are of great value and play a key role in completing the process. So, a home loan seeker must be very careful when submitting the documents to the bank. Never submit any fake or unclear documents that may create confusion or misguide the banks; banks have every right to take legal action against those who misguide them.

2. The details that you furnish in the application form should not include any discrepancy.
Banks make a careful study into these details, and if they find discrepancy, your application is certain to be rejected without any prior notice.

3. Retain all your receipts of the amount paid towards the credit card bills as banks may ask for the receipts of the payments once the details are found in CIBIL.

4. A panel of advocates will scrutinise the documents submitted by the home loan seeker.
They will obtain the search reports from the concerned sub-registrar office to find out the details of deeds and the vendors pertaining to that specific property. If they find any discrepancy in the documents, banks will ask the customer or vendor for clarification or for other supporting documents.

5. Property that the home loan seeker intends to acquire will be evaluated by technical valuers
If any find any deviations in the property, customer has to submit additional documents to support the deviations.

6. Upon completion of the entire process, vendor has to verify all his original documents with the bank official before disbursement of the loan, and the customer has to submit latest Encumbrance Certificate (EC) recording all transactions of the property in original.

7. Customer (home loan seeker) has to sign all the legal documents and the Home Loan Agreements in regard to the disbursement of the loan, and the property will be hypothecated to the bank till he/she repays the entire loan amount subsequent to the registration of the property. Customers are advised to carefully read the agreement copy before signing it.

8. If the customer fails to repay the loan, banks may appoint agents to collect the easy monthly instalments (EMIs) from the customer, and he/she has to co-operate with them.

9. If the customer gets defaulted, bank can seize the property to recover the loan amount; and once this happens he/she will be added into the defaulters list of the CIBIL (Credit Information Bureau of India Ltd).

Finally, it is advisable to take as less loan amount as possible so as to save the interest paid on the loan. Also, be punctual in repaying the loans to maintain a good credit history.

Agni Purta is assistant manager of the http://www.myloandetails.com The site provides services to the people who intend to go for a home loan.

Article Source: http://EzineArticles.com/?expert=Agni_Putra
http://EzineArticles.com/?Home-Loans---Possible-Hurdles-and-Solutions&id=1854622

See Our Disclaimer Here.

Home Financing Tips For Buying a House

By R A Smith

Here's a Collection of Other Home Financing Tips:

Need flexibility on credit issues?

In addition to a low down payment, an FHA mortgage allows lower credit scores than conventional home financing. A bankruptcy only needs to be discharged for 2 years, and 3 years on a foreclosure.

Need payment choices for a tight budget?

Some lenders offers flexible mortgage terms with a 30 year fixed rate that gives you a payment choice each month for interest only or a fully amortized payment, which could help when money is tight.

Do you want an option for lower closing costs?

If you need to reduce your closing costs, you typically have the choice of decreasing the points by increasing the rate. Mortgage rates are priced to allow you to buy the interest rate up or down.

How long will you keep your mortgage?

If you plan to keep your mortgage for less than five years, you may be able to save money on your payments with a 5 year fixed rate plan. Also consider financing your home with zero points.

What debts are counted in your debt ratio?

Monthly debt payments are added to a mortgage to calculate a back-end debt ratio, including: credit card minimum payments, car loans, student loan, personal loan, alimony, child support, tax liens.

Are you required to have an impound account?

An impound account is money collected with the monthly loan payment to be set aside in reserve to pay property taxes and insurance. It's usually required on mortgages with less than 20% down payment.

Buying a condo with an FHA mortgage?

A condominium project must be FHA approved in order to get an FHA loan. If the project is not approved, the FHA spot loan program is designed to provide financing for an individual unit.

What about opening new credit accounts?

Are you planning a job or career change?

If you plan to make a job change, especially if the change involves commission or a different line of work, wait until after your new mortgage has funded, to avoid creating a potential problem.

Article written by Rick Smith at http://www.crhome.com, additional loan information at http://www.ditech.com

Article Source: http://EzineArticles.com/?expert=R_A_Smith
http://EzineArticles.com/?Home-Financing-Tips-For-Buying-a-House&id=1974969

Friday, June 12, 2009

The advantages of leveraging your time and money

Tuesday, May 26, 2009

Commercial Property Value - How to Determine What It's Worth

In residential real estate, the listing price is determined by the seller. Comparables 'comps' are analyzed for a myriad of variables including price per square foot, bedroom count, bathroom count, number of garages features (pool, central vacuum, etc), location (cul-de-sac, corner, busy street), views & more.

Adjustments are then made to the subject property to render it equal with those comps. For instance if the subject property has one fewer bedrooms and 500 fewer square feet of living space, it's price will be reduced by the value of the extra bedroom and the reduced square footage.

In commercial real estate, pricing is determined by the income the property produces. Although physical features (pool, laundry facility, etc) and location (busy street, etc) are factors, they are considered only to the extent that they enable the property to command higher rent or decrease its operating expenses in order to increase the property's cash flows or Net Operating Income (NOI). Secondarily location is considered to the extent of the potential appreciation of the land. In commercial real estate, it is these cash flows and the amount an investor is willing to pay for these cash flows that will determine the price of the property.

Put simply, if the annual cash flows from a particular property are $100,000 and an investor is willing to pay $2,000,000 for those cash flows, then the property is worth $2,000,000 to that investor. If another investor is only willing to pay $1,000,000 for those cash flows, then the property is worth $1,000,000 to that investor.

Investors will consider numerous properties in a given area to determine the standard of how much is typically paid for particular cash flows in that area. The "going rate" in area can be considered its cap rate. An exact definition and explanation of cap rate will be detailed in a subsequent article. This article will address the concept of cap rate.

In this example, the first investor only required a 5% return on investment or yield and therefore could pay as much as $2,000,000 for $100,000 in annual cash flows to obtain his/her 5% desired return. The second investor required a 10% yield and was therefore only willing to pay $1,000,000 for the same $100,000 of cash flows. Different investors require different yields which affect the price ultimately paid for the property.

This one year yield could also be described as cap rate. In commercial lingo it would be said that the second investor requires a "10 cap" and that the first investor only required a "5 cap." This is an oversimplified explanation to demonstrate the concept. The "one year yield" distinction is made as cap rate only accounts for one year yield, usually the following year from when the investor purchases the property. To determine the combined yields of multiple year returns, different measures are used and will be detailed in a subsequent article.

Commercial investors will determine their risk adjusted requirements for their investments and will base those decisions on opportunity costs. Opportunity costs are the costs associated with not investing into something else. For instance, if an investor could alternatively invest in a stock, bond, T-bill CD, or other instrument and yield 15%, why would he/she buy a property which only yields 5%? In order to attract investors the property owner would have to lower the price (increase the cap rate) to give investors a higher yield.

Notice the inverse relationship here. As prices are lowered, the yield to the investor or cap rate to the investor goes up as related to the cash flows. Conversely, as property prices are increased, the yield to the investor or cap rate on those same cash flows goes down. Cap rate only takes into account the first year of cash flows and does not account for the second year, third year, etc.

Notice I have not even mentioned appreciation. The value of commercial real estate is primarily considered based on its cash flows while investing in residential real estate is for anticipated appreciation.

In residential, there is only one way to make money. The market must go up so the investor can sell for more than the original purchase price. In commercial real estate investors are purchasing cash flows. In our example, if the second investor paid all cash, at a 10,cap which values the property at $1,000,000, that investor would be paid back 100% of the initial investment after 10 years and as of the 11th year, the investor would have $100,000 of annual cash flow from that single property. Because there is no mortgage called debt service in commercial real estate, this would be the cash flow before tax to the investor. In other words, other than income tax, this is the spendable cash to the investor on an annual basis.

Hopefully the property will have appreciated as well and the market will be favorable. But in the very worst case if no appreciation occurred whatsoever, the investor would still enjoy the $100,000 of annual cash flows. The beauty of commercial real estate is in the ability to plan. If you buy a residential property, you must sit and wait for the market to appreciate. The problem is that you never know when this appreciation will occur or how much. You can't plan. And, you're at the mercy of the market. In commercial real estate, as long as rents don't decrease substantially and vacancies don't increase, you know ahead of time how much money you will make regardless of market appreciation.

Now consider this. Let's say that the second investor decided not to pay cash and instead leveraged the property with a 10% down payment or $100,000 to purchase the $1,000,000 property. Let's also consider that the remaining $900,000 was financed at 7% for 25 years which is the typical term length in commercial financing. With a fully amortizing loan the annual payments would be $63,000. In commercial real estate, paying debt owed to the lender is called debt service. In residential, it's called paying the mortgage. From the $100,000 cash flows (NOI) from the property the debt is paid leaving $37,000 of cash flows before tax. For simplicity sake, I will not account for tax effects on income or yields.

In this example, in Year 1, the investor has earned $37,000 for a $100,000 cash outlay or a 37% cash on cash return and will do so for 25 years until the debt is paid off assuming no changes to the income. Subsequently, the investor will enjoy the entire $100,000 of annual cash flows as there will be no debt service. To calculate the combined cash flows from multiple years the investor would look at a measurement called Internal Rate of Return (IRR). For the scope of this article I will not address IRR. But remember, Cap Rate is for a single year's return and cannot account for multiple years with different cash flows each year.

Notice again, I haven't even spoken about appreciation which may or may not occur. But even if no appreciation occurs to our example property, this is still an incredible investment! Now obviously during a 25 year period these cash flows will change as rents will likely be increased and capital improvements will likely be needed (new roof, etc). But again, I'm keeping it simple for example purposes.

To summarize: In residential real estate there is only one way to make money. The strategy is to carry the property and hope that the market goes up and that the property appreciates so that the investor can sell for a higher price than was paid. Positive cash flows are typically non-existent and if present, negligible relative to the anticipated appreciation the residential investment will bring.

In commercial real estate properties are purchased for their positive cash flows AND potential appreciation. It is because of these cash flows that commercial real estate is less risky.

It is for this reason that commercial real estate is more stable and can weather the market storms that residential investments cannot and it is for this reason that the super wealthy own residential to live or vacation but invest in commercial real estate to create their massive wealth.

Take a FREE Online Course! http://www.cieinst.com

Karen Hanover is well known as a Certified Commercial Real Estate Advisor, President of the National Apartment Investors Association, Chairman of the National Commercial Real Estate Advisory Board and Senior Instructor for both the Self Storage Education Institute and the Apartments Education Institute.

As a CCIM Candidate, a highly prestigious designation, often called the "Ph.D. of commercial real estate" Karen works as a busy commercial real estate agent with Marcus & Millichap one of the nation's largest and most highly regarded commercial brokerage firms.

Sought by industry insiders for their toughest deals, Karen has helped thousands to create wealth in commercial real estate with less risk even in today's uncertain economy.

Karen founded the Commercial Investment Education Institute which provides educational instruction for investors on multiple subjects including apartments, self storage, office buildings, retail centers, mobile home parks and more. Her courses are taught in a friendly and easy to understand manner.

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

Sunday, May 24, 2009

The Income Method Of Property Valuation

Source: Content for Reprint

There are many theories involved with the modern property valuation. One of the major forms of conducting a property valuation utilises a methodology named the 'income method'. Put simply this method estimates the worth of a property along the lines of revenue potential, ergo the income that can be generated either from rental income or re-sale value. The method, although rather complicated is used extensively by investors to place a value on any property investment and to assess whether it will be profitable in the long term.

The income method of valuation relies upon certain assumptions in order to be accurate. These are the re-sale value of a property in the future and the predicted income generated from renting. To make these assumptions, existing data of similar properties is used to gain an idea of the potential worth. For instance; a three bedroom house according to recent data will return a re-sale figure more than fifty percent of the original price over a decade. In this time it will be possible to make at least four thousand pounds per annum during that decade from renting.

In order to put this valuation into perspective the income generated must be set against the original capital to assess how profitable the property will prove to be. As well as estimating the profit from the property, it must also be compared to an investment of similar capital expenditure to assess whether the property warrants investment over similar profitable schemes. An example of this would be instead of buying a letting property, it would be an option to invest in bonds as the returns would arguably be greater with less risk.

The hard part of any property valuation and especially with the use of the income method is to estimate the risk. While historical data is useful, it is in no means a far reaching solution. Predicting the ebbing and flowing of the property market is a notoriously difficult task. This is especially true in the modern climate where prices are in decline, but predicting the speed and magnitude of this decline is next to impossible.

The income valuation method however attempts to ignore the current market situation, instead relying upon the value of the property in a decade or so. By taking this future value and comparing it to the price paid now. While this will not give the buyer the price in real terms; that is what it will sell for on the open market, but instead gives a valuation of what the property is worth as an investment.

As well as the eventual re-sale value, the income from renting must also be included in the equation. As putting a property up for rent will create a constant stream of income, the value of this income must be estimated and factored in. Once again however both the estimates of the eventual sale value and rental income depend upon predicting the market; previously stated to be a task that is extremely difficult.

While this method is predominantly used by serious investors rather than home buyers it has various advantages over the 'comparable sales method'. One of these advantages is that this valuation method focuses upon the individual directly, estimating the value of a property to them, and not the market. In addition, the income method is also extremely detailed giving exact figures on what an investor can expect in terms of financial returns unlike the more widely used comparable sales method. So if you are serious about property investment, the income method of valuation could lead you to the immense profits you so hotly desire.

About the Author: "Real estate expert Thomas Pretty looks into different ways of conducting a property valuation."

The Income Method Of Property Valuation | Content for Reprint

Monday, May 11, 2009

Using Owner Financing to Buy Real Estate - No Mortgage Necessary

Are you trying to sell your house without the desired results? Are you trying to buy a house but having difficulty with financing? If so this is probably the article for you. Why you might ask? Whether you are a buyer or a seller, owner financing could be the answer to your problem.

The increasingly-popular trend known as owner financing is when the owner, or seller, of the home finances all or part of the purchase of their house. Instead of paying a bank or mortgage, the buyer makes regular monthly payments to the seller. To some this process may sound a little weird when it's put in those terms. How about land contract or lease purchase agreements? Those are probably familiar to most people. Land contract and lease purchase agreements are more well-known types of owner financing.

What are the benefits to the buyer? Some, such as limited to non-existent qualification requirements are obvious. The approval decision is left to the seller and not to a bank or mortgage company with strict requirements. Others such as negotiable down payment and low closing costs are added benefits. Also, financing can be adjusted to the buyer's specific needs. Interest rates may also be lower or in some cases even non-existent. In the short and the long run owner financing can save the buyer hundreds of dollars and a lot of time and hassle.

What about the seller? Owner financing typically increases the number of interested buyers. The seller's monthly income is increased from the regularly scheduled payments. In addition to those benefits, the seller will probably pay fewer taxes for the additional monthly income than what would be required for a large sale.

So why not use owner financing? There are many benefits and no foreseeable problems. The buyer and the seller both benefit greatly from owner financing.

Many real estate investors know how to buy houses with Owner Financing. If you are interested in learning about buying, selling or renting properties using these creative strategies then check out these free resources for Real Estate Investing.

Article Source: http://EzineArticles.com/?expert=Wolfgang_O
http://EzineArticles.com/?Using-Owner-Financing-to-Buy-Real-Estate---No-Mortgage-Necessary&id=2322025

Tuesday, May 5, 2009

Borrowers struggle with 'jumbo' mortgage loan rates

Kerry and Rebecca Scarlott, shown in their Hingham home with their daughter, Meghan, and dog, Dory, refinanced their jumbo loan with two smaller loans. (John Tlumacki/Globe STaff)

Source: The Boston Globe

While plunging mortgage rates have spawned a frenzy of refinancing, borrowers with larger, so-called jumbo loans are still seeing interest rates in the 7 percent range, prompting many to abandon refinancing plans altogether or resort to creative transactions.

The high rates are particularly an issue in Greater Boston, where expensive housing forces many people into jumbo-loan territory, which is currently $465,750 and above. In 2006, more than 10 percent of borrowers in Massachusetts took out jumbo mortgages.

Borrowers with conventional mortgages - those at or below $417,000 - are getting rates as low as 5 percent, while the national average for a jumbo loan hovers around 7 percent.

There is a new, third category of mortgages between jumbo and conventional loans, created last year by Congress, called conforming jumbos, which now average about 5.6 percent, according to a provider of industry data, HSH Associates.

"I think it is crazy you can't get as good a rate," said Julia Blake, 36, who with her husband is looking to refinance the Cape they bought in Wellesley for $695,000 in 2007. "To me, a jumbo loan should be a luxury house, and in Wellesley it is not. You can't get anything less than $600,000."

Another Wellesley resident, Paul Barnhill, wants to refinance his adjustable-rate jumbo loan into a fixed-rate loan, but not at current rates.

"I would refinance in a heartbeat if I could get 5 percent," said Barnhill, 44.

Jumbo mortgage rates are higher because lenders who initiate the loans are having trouble selling them on the secondary market, where the resale of mortgages provides funds for new loans. The banks and investment groups that buy mortgages are reeling from the credit crisis and the subprime mortgage debacle, and are steering clear of any loans that smack of higher risk. The major players on the secondary market, government-sponsored Fannie Mae and Freddie Mac, do not purchase jumbo loans.

Industry groups are calling on the federal government to intervene. For example, the Federal Reserve Bank is purchasing huge amounts of mortgages and related securities, which industry officials said would result in even lower rates for conventional loans. The National Association of Realtors wants the Fed to do the same with jumbo loans.

"It's unfortunate that the jumbo interest rates are very high and the government is not being responsive to that," said Lawrence Yun, the trade group's chief economist. "It is not only hurting the Main Street, but it's a fairness issue. Why are people who are slightly over the loan limit being punished?"

Last year, Congress raised jumbo limits when it allowed Fannie Mae and Freddie Mac to buy or guarantee higher-balance loans. In Massachusetts, the limit increased to $523,750, from $417,000, with jumbo loans being above the higher amount, and conforming jumbos between the two figures. Continued...

Borrowers struggle with 'jumbo' mortgage loan rates - The Boston Globe