• 00:30

    FHA Loans Questions with Felicia Dosal

    in Business

    Should a Buyer With 20% Down Get an FHA Loan?
    Conventional loans require private mortgage insurance if a buyer cannot put 20% down. FHA loans require mortgage insurance regardless of how much money is put down initially. Conventional wisdom says that buyers should only consider getting an FHA loan only if they cannot put 20% down. This piece will question that position and ask: Should someone who can put 20% or more down consider getting an assumable loan (e.g. FHA) even though the assumable loan would require paying mortgage insurance?

    Several weeks ago, when rates were higher, I asked well known local blogger and Licensed Mortgage Originator Rhonda Porter of mortgageporter.com to run me some numbers on two different loan packages. The first was an FHA loan, which at the time had a 5% rate (5.403 APR). The second was a conventional loan that had a 5.125% rate (5.201 APR). The initial loan costs on each loan were relatively close to each other, and the most significant difference between the loans was that the FHA loan still required mortgage insurance, both an up front amount and monthly amount of $132.44 for the first 60 months.

    Most buyers today probably pick the conventional loan to avoid paying the mortgage insurance. My reason for doing this piece is that FHA loans are generally considered assumable loans. That made me wonder: Can there be scenarios where a buyer would be better off having an assumable FHA loan, even if they have to pay mortgage insurance?

  • 00:36

    Bankruptcy Basics: February Bankruptcy FAQs Part 2 of 2

    in Legal

    Chicago bankruptcy and consumer credit attorney Joseph Wrobel shares news and updates in bankruptcy law as well as business and consumer financial matters. It has been documented that financial troubles can cause all sorts of ailments, the most common of which is sleeplessness. Joseph Wrobel helps clients alleviate their anxiety created by the inability to pay bills and the embarrassment of financial distress.


    Topics covered in this 30 minute show:



    Am I liable for my spouse’s student loan debt? How can bankruptcy help me?
    How does reaffirmation of a car loan work in bankruptcy where you keep your car?
    Why would I file for bankruptcy if my income is exempt from wage garnishment?
    Can you get a Chapter 13 plan with no payments? I want to save my home.


    Joseph Wrobel has been a practicing attorney since 1973 and has experience in a wide variety of law relating to legal matters for individuals and families. Wrobel helps clients get out of debt and get a fresh start. He is an active member in several bar associations and the Bankruptcy Panel of Pro Bono Program of the Chicago Volunteer Legal Services. After serving the U.S. Army Reserve 363rd Civil Affairs Unit, Wrobel earned a B.A. in Psychology from Northwestern University and in 1973 he earned a JD from DePaul University Law School.


    Visit our Chicago Bankruptcy Site. You may also contact Joseph Wrobel for more information at (312) 781-0996 and by e-mail at JosephWrobel@ChicagoBankruptcy.com

  • 00:31

    THE DAILY COMPLAINT (LOAN MODIFICATION/HAMP/WINNING STRATEGY/CONSUMER RIGHTS)

    in Finance

    TODAY'S SPOTLIGHT:


    HOME AFFORDABLE MODIFICATION PROGRAM GOVERNMENT DEBT RESTRUCTURING PROGRAMS QUALIFICATIONS WINNING STRATEGIIES KNOW YOUR RIGHTS ASSERT YOUR RIGHTS MHA HELP


    "the daily complaint"


    Every weekday we answer client complaints on The Daily Complaint to provide direction and resources for both the person complaining as well as other consumers experiencing similar issues whether it be mortgage fraud, loan servicing escrow issues, loan modification runarounds or denials, short sale refusals, deed in lieu negotiations and credit card debt collector abuses and fraud violations.


    I routinely look for posts to answer in hopes that it will not only bring optimism to those homeowners and borrowers in distress but also some basic information to assist in fighting the banks that are "too big to fail" like Bank of America and Citi but yet don't appreciate the bailout that we provided in their time of need.  The debt collectors like Ocwen and Nationstar are simply just piranhas but they can be beat at their own game too just like the big banks can be defeated.  


    We are committed to answering consumer complaints and addressing everyday credit and debt issues on The Daily Complaint and I thank you for your continued support!


    We hope you enjoy the Show...


     


    Dana Shafman


    Managing Member


    END Consulting


    Phone (888) 234-7006 Ext 101


    Fax (888) 234-7096


    Dana@ConsultingEND.com


     


    Every new beginning comes from some other beginning's END!


    THE DAILY COMPLAINT - LIVE WEEKDAYS AT 8:30 AM PT (CA) & 11:30 AM ET (NY)

  • 00:34

    THE DAILY COMPLAINT (CALIBER HOME LOANS/LOAN MOD RUNAROUNDS/LIES/FDCPA/CFPB/MHA)

    in Finance

    TODAY'S SPOTLIGHT:


    CALIBER HOME LOANS FROM BANK OF AMERICA LOAN MODIFICATION RUNAROUNDS STRONG PROTECTIONS FOR STRUGGLING BORROWERS CFPB FDCPA RESPA MHA CONSUMER RIGHTS HELP


    "the daily complaint"


    Every weekday we answer client complaints on The Daily Complaint to provide direction and resources for both the person complaining as well as other consumers experiencing similar issues whether it be mortgage fraud, loan servicing escrow issues, loan modification runarounds or denials, short sale refusals, deed in lieu negotiations and credit card debt collector abuses and fraud violations.


    I routinely look for posts to answer in hopes that it will not only bring optimism to those homeowners and borrowers in distress but also some basic information to assist in fighting the banks that are "too big to fail" like Bank of America and Citi but yet don't appreciate the bailout that we provided in their time of need.  The debt collectors like Ocwen and Nationstar are simply just piranhas but they can be beat at their own game too just like the big banks can be defeated.  


    We are committed to answering consumer complaints and addressing everyday credit and debt issues on The Daily Complaint and I thank you for your continued support!


    We hope you enjoy the Show...


     


    Dana Shafman


    Managing Member


    END Consulting


    Phone (888) 234-7006 Ext 101


    Fax (888) 234-7096


    Dana@ConsultingEND.com


     


    Every new beginning comes from some other beginning's END!


    THE DAILY COMPLAINT - LIVE WEEKDAYS AT 8:30 AM PT (CA) & 11:30 AM ET (NY)

  • 00:31

    THE DAILY COMPLAINT (NATIONSTAR/ESCROW FRAUD/HUD RESPA RULE/CONSUMER RIGHTS/CFPB

    in Finance

    TODAY'S SPOTLIGHT:


    NATIONSTAR  MORTGAGE ESCROW FRAUD UNPAID TAXED LATE FEES HUD RESPA VIOLATIONS BREACH OF CONTRACT CONSUMER RIGHTS FTC FDIC CFPB HELP


    "the daily complaint"


    Every weekday we answer client complaints on The Daily Complaint to provide direction and resources for both the person complaining as well as other consumers experiencing similar issues whether it be mortgage fraud, loan servicing escrow issues, loan modification runarounds or denials, short sale refusals, deed in lieu negotiations and credit card debt collector abuses and fraud violations.


    I routinely look for posts to answer in hopes that it will not only bring optimism to those homeowners and borrowers in distress but also some basic information to assist in fighting the banks that are "too big to fail" like Bank of America and Citi but yet don't appreciate the bailout that we provided in their time of need.  The debt collectors like Ocwen and Nationstar are simply just piranhas but they can be beat at their own game too just like the big banks can be defeated.  


    We are committed to answering consumer complaints and addressing everyday credit and debt issues on The Daily Complaint and I thank you for your continued support!


    We hope you enjoy the Show...


     


    Dana Shafman


    Managing Member


    END Consulting


    Phone (888) 234-7006 Ext 101


    Fax (888) 234-7096


    Dana@ConsultingEND.com


     


    Every new beginning comes from some other beginning's END!


    THE DAILY COMPLAINT - LIVE WEEKDAYS AT 8:30 AM PT (CA) & 11:30 AM ET (NY)

  • 00:41

    Debunking the Myths About Women & Lending

    in Business

    Learn how to successfully Secure the Funding You Need!  


    Are you looking to expand your reach as an entrepreneur and business owner but unsure how to secure the necessary funding to take you to the next level?  Do you find the world of financing and small business loans to be overwhelming, confusing or otherwise difficult to understand?  If so, you won’t want to miss our guest Mary Holman, Senior Vice President and Manager of the Retail Lending


    Department for National Bank of Arizona, as she simplifies this process, debunks the myths and prepares you to secure the necessary funding that will catapult your business.  

  • 00:09

    Jesinoski v. Countrywide TILA casebrief

    in Legal

    Federal Truth in Lending Law - United States Supreme Court Updates 2015


    The TILA case is Jesinoski v. Countrywide Home Loans.  The legal issue is what action is required by a borrower to be taken in order to rescind their mortgage loan where certain enumerated "material" loan violations exist in regard to the TILA statute.


    Attorney Steve discusses this interesting real estate law topic which held that a borrower does not need to actually file a lawsuit within three years to rescind their mortage loan, and rather, submitting a written notice to the creditor to rescind the loan is sufficient, if done within the three year period.

  • 00:33

    THE DAILY COMPLAINT (SPS/INTEREST ONLY/LOAN MODIFICATION/MORTGAGE FRAUD/RIGHTS)

    in Finance

    TODAY'S SPOTLIGHT:


    SELECT PORTFOLIO SERVICING INTEREST-ONLY MORTGAGE LOAN MODIFICATION INCREASED MORTGAGE FRAUD BREACH OF CONTRACT AMORTIZATION SCHEDULE CONSUMER RIGHTS QWR


    "the daily complaint"


    Every weekday we answer client complaints on The Daily Complaint to provide direction and resources for both the person complaining as well as other consumers experiencing similar issues whether it be mortgage fraud, loan servicing escrow issues, loan modification runarounds or denials, short sale refusals, deed in lieu negotiations and credit card debt collector abuses and fraud violations.


    I routinely look for posts to answer in hopes that it will not only bring optimism to those homeowners and borrowers in distress but also some basic information to assist in fighting the banks that are "too big to fail" like Bank of America and Citi but yet don't appreciate the bailout that we provided in their time of need.  The debt collectors like Ocwen and Nationstar are simply just piranhas but they can be beat at their own game too just like the big banks can be defeated.  


    We are committed to answering consumer complaints and addressing everyday credit and debt issues on The Daily Complaint and I thank you for your continued support!


    We hope you enjoy the Show...


     


    Dana Shafman


    Managing Member


    END Consulting


    Phone (888) 234-7006 Ext 101


    Fax (888) 234-7096


    Dana@ConsultingEND.com


     


    Every new beginning comes from some other beginning's END!


    THE DAILY COMPLAINT - LIVE WEEKDAYS AT 8:30 AM PT (CA) & 11:30 AM ET (NY)

  • 01:01

    Streamline FHA refinancing, plenty of tips and Marketing your business

    in Real Estate

    Streamline FHA refinancing, plenty of tips and then more about marketing your business.


    Jeff Bush is our guest today. He has tons of experience in the lending industry and now


    has taken his years of experience to reach out and help market businesses.


     

  • 00:31

    Buying an Existing Business Good or Bad Idea

    in Finance

    Good Morning Family today we are talking about business. Is it good to buy an exisiting business or is it better to just start one on your own. We will be talking about good idea or bad idea when it come to buying a exisiting business. If you have any stories you would like to share please call me the day of the show or e mail me at cheapcheetah@yahoo.com. Have a great Cheap Cheetah day


    www.facebook.com/TheCheapCheetahMoneyShow


    www.TheCheapCheetahMoneyShow.blogspot.com


     


     

  • 00:37

    Buying/Selling Non-Performing Loans - Fullwood, Pinnacle Investments

    in Finance

    It was recently reported in DC News that three of the nation's largest mortgage lenders have put sizable packages of non-performing and performing mortgage loans on the market for investors to buy


    First reported by Bloomberg, The loans are worth a combined $4.5 billion.  Bank of America has put up approximately $2.56 billion worth of delinquent debt for sale, including non-performing loans, performing mortgages and home equity lines of credit (HELOCs), Citigroup has put up $1.8 billion worth of non-performing mortgages for sale, and JPMorgan Chase is looking for a buyer for $143 million worth of nonperforming mortgage loans.  And lastly, Freddie Mac just sold $440 million in non-performing loans.


    Data compiled by Mission Capital shows that about $4.2 billion worth of non-performing loans and $3.2 billion worth of modified or re-performing loans have traded or been put up for sale so far this year.


    Joining the broadcast to discuss the non-performing mortgage market is Troy Fullwood.  Troy is an 18+-year veteran of the secondary mortgage business, along with being a personal investor.  He has been involved in over 13 thousand residential mortgage transactions totaling over a billion dollars in transactional history throughout the United States. 

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