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26 November 2012

Find US Banks for Home Loans


 If you wish to purchase a home on home loan in the US finding the right and best US  banks that offer you home loan becomes very important. The best bank that would offer you the maximum amount as home loan at a low rate of interest and of course with adjustable repayment schedules, a dream of every borrower.
With many US banks offering home loans with offers and lower rates it becomes difficult for a borrower to select the best home loan. Any borrower would like the documentation process speedier, some free services and the best repayment schedule that does not crunch on their monthly expenses. Many US banks have representatives that guide you for the best repayment plans according to your monthly expenses , with personal consultation they chalk out a figure that you can comfortably repay every month as installment without having to suffer much on the home front.
The best US home loan would also constitute of a fall back plan, usually referred as plan B, help during crises, where due to unexpected loss of job, sickness, or death of a spouse the bank guides you on other mortgage options to bring you out of your home loan as well as save you from losing your home to the lending finance company.
Lower rate of interest is very important as the amount of money as home loan is very big and also the loan repayment tenure is longer, 15, 20, 25 years, as the plan you choose for repaying your home loan. The down payment criteria is another important issue with every home purchaser in the US. Eligibility criteria when cleared you are off to get quick approval of your home loan , as a  result shift into your new home sooner.
Consider the US bank that requires minimum amount of paper work and time as the whole process becomes quiet stressful when carried for many months. Now many US banks have online websites that allow you to calculate the plan , the total amount you get as home loan and also the installment amount you will need to pay every month. This has become very easy and helpful for borrowers as they can plan before hand about the home loan and also discuss with  their family about the loan decision.

12 November 2012

Home Short Sale Tips from Bank of America


Bank of America Short sale facility is for those who are unable to repay their home loan and in fact cannot afford the home mortgages, thus resulting in selling off of the property on short notice and coming out of the debt to your home lender bank. The Bank of America short sale tips help borrowers to come out of their existing home loans, and also helps in assistance with the relocation funds so that the home owners can find a suitable place to live within their budget.
The main aim of the bank here is if the home you own is lesser than the amount of mortgage you have with the Bank of America thus selling the property will give a certain amount the bank can take and nullify your loan. Here the bank agrees to clear off the mortgage even if the money got by selling is lesser than the loan amount, thus stating that the bank will repay the excess remaining amount. In short sale you sell the property even though the amount of loan remaining to be repaid is larger. This step is to avoid the decision of foreclosure of your home loan as with this you lose the property to the bank you owe. You sell and settle the amount for lesser than you owe.
Short sales are considered when the property or home you have taken on home loan suddenly shows drop in rates. Thus reducing the total value of your home, and it may be such that the total value of your home may be lower that the amount of repayment remaining with the Bank of America. Also in cases of job loss or sudden death of a spouse such short sales are a simple way out for the home loan borrowers.
Here the situation is a win win one for the borrowers if they cannot afford the mortgage repayments they can with the help of short sale facility sell the home and the Bank of America also offers relocation funds to eligible borrowers.

07 November 2012

Buy Second Home in USA is this the Right Choice


Buying second homes in USA has become the priority for many individuals especially since property investments are coming out to be the leading from of investments that give sure returns. Is it profitable to buy a second home in USA, if you frequently travel to US and have to stay in resorts and hotels then it would be a wise decision to invest in a property in US.
Many US Banks offer home loans on properties for sale and distress sales.  With the eligibility criteria fulfilled you can avail a loan to buy property in US and avoid the total recurring expenditure you bear every time when you frequently visit the US for leisure or business trips. If you already have friends and relatives staying in the US countries or nearby would it be advisable to invest in another property spending $ in buying home, or would it be better to have a flat stay at some place and have the expenditure of staying saved. You may also consider  the other over head expenses like food , travel and miscellaneous expenses on still you would save a lot by saving the regular monthly maintenance costs of a new second home in US.
You may also find  the cheapest properties on sale in US and also any bank distress sales that the US bank representative may guide you of. Going through a reputed US bank for a home loan would assure you of the repayment schedules and also help you in case of unexpected difficulties or failure to repay an installment on time. If you travel to other countries for business, closer to US then would it be better to buy a property in a bigger foreign country as compared to smaller ones where homes would be cheaper. As rates in nearby and surrounding countries would be much lesser in value and costs. But if the property purchase is also from point of view as investment  it would be better to purchase a second home in a bigger country as, though here you invest more but you also get good returns very soon as the property value appreciates faster.
How frequently you need the place second home in US is another important criteria for your purchase. If you visit every forth night or every month then it would not be good to stay at some ones  place and it is a better choice to invest in a second home in US. Also if the business trips are company paid you have the advantage of getting all the reimbursements so you may as well invest in the second home property in US  and accept the amount as rental for the stay in your second home.  In the end you will own a property in US even if the job remains or not your property will surely appreciate in value. As for the home loan there are so many means where you can adjust repayments and any US bank representative can guide you for the same.

Financial pressure of repaying your Home Loan? Home Affordable Foreclosure Program Bank of America


The Bank of America with its home affordable foreclosure program helps individuals who are unable to bear the financial pressure of repaying their home loan. Situations like job loss, divorce or death of a spouse or any natural disaster may leave you without any hope of increasing your finances and with a commitment as large as a home loan it would sometimes be a sane decision to let go and close your home loan by selling off your property.
The bank of America representatives with this affordable foreclosure program guide individuals with foreclosures on loans and with their eligibility criteria fulfilled, any home loan borrower unable to repay their mortgage amounts can make use of this facility and sell off the property. The mortgage amounts as the Bank website states does not in any way hinder the process of foreclosure. The sale of property with the assistance of the Bank of America becomes easier and the total amount of money got from selling the property may even be less, less than the remaining home loan, but the recovery of loan is done and you are free from your loan, with the balance being paid by the bank.
Home  Affordable Foreclosure Alternatives HAFA program helps to sell off your property if your loan is more that the value of your home. The selling of property the Bank will recover its dues, and even if there is a difference, this will be waived, this is assured by the Bank of America.

03 November 2012

Community Bank NA Personal Loans


Community Bank NA personal loans are easy to apply and get approved and with online money transfer you can get personal loans for any need. With the banks eligibility criteria of credit history approval you can get loans for any purpose. Be it for the higher education of your children, your new car or home renovation a personal loan can be got by online banking.
Community Bank NA have their head quarter office in De Witt New York, with offices and branches in upstate New York. With online calculators the banks website has the disclaimer, that these online calculators are only for reference purposes, as a first guide for self knowledge, and that all financial advice must be done with guidance of established and qualified financial consultants.
Mortgage loan calculator, mortgage qualifier calculator, mortgage refinance calculator, savings calculator, compound savings calculator, simple loan calculator, and retirement plan calculator are some of the online calculators the Community banking NA have on their site. Automatic transfer of money from your account makes it easy to repay the loan to your bank and also money from any other bank. The home loan may be for new purchase or renovation or purchase of land. Raw land as the site states is one which has basic necessities, that is connections of water and electricity but only construction has not begun. You may also contact the bank for approval of loans to buy such land.
Any repayment plan that fits your salary and budget can be calculated and online transfer and repayment options make the process quite simple and convenient.