Smart financial moves can help you offset unexpected drops in your income that could result in the loss of your home. When your income drops, selling your home is one option to consider, this may not be a viable alternative, however, if the real estate market is soft. Contact a mortgage broker to help you negotiate with your lender. If the lender still owns the mortgage, they may be able to help you keep your home. Discuss the possibility of…
THE FIVE-DAY MORTGAGE
In the past when you found the house you wanted to buy, you would sign the sales contract and then go through the loan application process. The usual scenario was — hurry up –and wait – for loan approval and escrow several weeks later. This is no longer the case: mortgage lenders today are committed to moving through the application-to-approval process much quicker and more economically. A goal of five days for the process is now realistic due to the…
TIPS WHEN SHOPPING FOR AN ARM(Adjustable Rate Mortgage)
With all the new financing programs available, the Adjustable Rate Mortgage (ARM) still reigns as the most popular alternative to the traditional thirty-year fixed-rate loan. ARMs begin at lower interest rates, making it easier for many buyers to qualify. If you have an ARM, your interest rate is adjusted to one of the several indexes at specified times so that you could bear an extra financial burden at rate adjustment time. Most ARMs have two-percent rate adjustment caps with lifetime…
Brian Downing on Prequalification Process of Mortgage
Everyone has the dream of one day owning their very own home. It’s a beautiful dream, but also an expensive reality that many people cannot afford. That’s where Banas Mortgage Co. LTD steps in. If you live in Western New York and are in need of a home loan, turn to the experts at Banas Mortgage. Great rates are just the beginning of what we do here at Banas Mortgage. We provide honest, reliable, and experienced service to the residents…
How To Create Wealth By Real Estate – Paul Banas
People often ask me how did they get involved in investing in real estate. My best advice would be to buy four units owner-occupied property with a FHA mortgage.…
How to keep your home during hard times
If your income drops suddenly a little creative thinking can help you keep your house. Many couples qualify for a loan on the basis of two incomes if one of them experience as a financial setback, the house payment may be larger than the other one can handle alone. In a situation like this it may be useful to extend the maturity of your lawn in order to lower your monthly mortgage payments. If you will step back he’s temporary,…
Banas Celebrates 10,000!
We are so excited to announce John and Rosella McNeil as our 10,000th clients! Thank you to the McNeils for choosing to work with Banas Mortgage Co. not once, not twice, but five times! We have enjoyed helping you finance your most recent investment property as much as we did the first time you walked in our doors. Paul Banas and the rest of Banas Mortgage Co. looks forward to seeing the McNeil’s future investments and success Paul Banas…
Ask Paul Avoiding Foreclosure
Smart financial moves can help you offset unexpected drops in your income that could result in the loss of your home. When your income drops, selling your home is one option to consider, this may not be a viable alternative, however, if the real estate market is soft. Contact a mortgage broker to help you negotiate with your lender. If the lender still owns the mortgage, they may be able to help you keep your home. Discuss the possibility of…
