Investing with Suntrust Foreclosure Homes [mortgagethings.blogspot.com]
(Best Syndication News) Mortgage interest rates slipped today as some banks buck the trend and raise their loan products (see the mortgage rate chart below). Citibank raised their rates while SunTrust lowered them. Benchmarks Stocks slumped today as. Current Mortgage Rates Today รข€" Citibank Raises Loans while SunTrust Lowers ...
www.thereibrain.com Teaches you how to read a mortgage rate sheet step by step. This is Part 1 of 2.
mortgagethings.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: How can I refinance my mortgage without putting money down for closing? 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. Is this possible without bringing any money to the table for closing? Best answer for How can I refinance my mortgage without putting money down for closing?:
Answer by chatsplas
Sometimes. Talk to your lender. IF you have equity in your property, the costs can be rolled into the loan. Of course this increases the principal of your loan, not a great idea. Also figure out how long you have to KEEP this home and this loan before you break even on this cost, let alone before you come out ahead. If it's NOT a full point lower, it's generally NOT worth doing, some think it should be 2 full points lower to make refi worthwhile.
Answer by Ryan M
Yes it is possible, but YOU have to find a lender that is willing to do it.
Answer by loanmasterone
Yes you may do this and normally a refinance is done that way. When you speak with a local mortgage banker/broker tell them you would like to roll any cost into the loan. When the loan close all closing cost will be paid without you having to pay anything out of pocket. Now there are a few things that are done prior to your loan approval that might cost, these being the appraiser and credit report. These two items might have to be paid up front, but a savvy person such as yourself can negotiate that these fees be reimbursed by the mortgage banker/broker once the transaction has closed. There fore you will not be our of pocket for anything. Now if you are financing simply to lower your interest rate thus lowering your monthly payments you will not be getting any money back out of the refinance. If you are refinancing to lower your interest rate as well as some cash out to pay off credit card debts or make a large purchase then the expense for the refinance would be taken out of the loan proceeds and you will be issued a check for the remainder that is left after all cost are paid. I hope this has been of some use to you, good luck. "FIGHT ON"
