Mortgages Are Still Available

Mortgages Are Still Available, Despite the Credit Crunch



The recent months have been marked with great chaos and disruption as the financial crisis took its toll on the mortgage, investment and lending markets. Our nation, as well as the rest of the world, has feared for a total collapse until the financial problems were one-by-one resolved and the gravity of its effects countered. Presently, despite the fact that a credit crunch still exists, current homeowners and prospective home buyers still have much to look forward to.

Government Bailout and Interest Rate Cuts
Credit may be tight, but it is not frozen! Thanks to the government's recent bailout, individuals throughout the nation are still able to find conforming and FHA-insured mortgages. With the United States Department of Housing and Urban Development (HUD) and the government's help, 400,000 families have been able to keep their homes by refinancing their mortgages with HUD's affordable mortgage insurance program.

Modified Mortgages
Several banks have already begun to provide modified and more affordable mortgages to borrowers. IndyMac and Bank of America Corporation, which recently acquired Countrywide Financial Corporation, are just a few of the banks that are modifying borrower mortgages in hopes of making home ownership more feasible and affordable.

Contact Lakewood Capital Inc. today at 888-516-7555 to make sure your current loan is well within your financial means or to see if you may qualify for a mortgage loan modification.

Borrower Qualifications
All loan programs require that the borrower meet several income, employment and credit guidelines. Though these loan restrictions have gotten tighter, Lakewood Capital Inc. has the latest interest rates and mortgage application guidelines at hand so that you can be sure you do not stretch your financial limits.

With the exception of Jumbo loans, there is almost no difference in the availability of money this year compared to last year. The only difference is now borrowers must provide documentation, including W-2's, bank statements and tax returns. Before applying for a loan, be sure to discuss your program options and application qualifications with Lakewood Capital Inc..

Learn more about the current borrower qualifications by calling us at 888-516-7555 or visit us online
Keeping You Informed
Lakewood Capital Inc. is dedicated to keeping you informed of the latest market trends and mortgage options. Visit us online, or call today at 888-516-7555, to obtain custom loan options designed to fit your needs and help you obtain your ownership goals.

Our debt consolidation home loan programs can be tailored to your specific needs. Below is some information to help get you started. To get started immediately click here for our on-line application.

Debt Consolidation
Lowering Your Monthly Payments
Tax Savings
Simple Interest Savings
Debt Consolidation Loan Terms
No Equity Home Loans




Lowering Your Monthly Payments Apply Online
Debts that go unpaid can damage your credit and make it difficult to obtain a home loan. In some cases it is recommended that before obtaining a home loan the borrower consolidate or pay of his debt. Debt consolidation will lower your monthly payments while simultaneously increasing your credit rating. Paying off debt, without the assistance of consolidation, prior to applying for a home loan is another good way to improve your chances of being approved for a home loan. Refinancing your first mortgage or obtaining a new home equity loan may also be a financially practical way to relieve the burden of high monthly payments.


Tax Savings Apply Online
Often times the interest portion of a debt consolidation loan or second mortgage may be tax deductible. The total deductions depend on your individual tax bracket and state tax laws. Check with your tax advisor for more details. The tax savings can be substantial when compared to your non-deductible monthly bills.


Simple Interest Savings Apply Online
The differences in the type of interest you pay on your home loan will impact the price of your monthly payments. With simple interest, interest is calculated once and is fixed. This can create savings for the home owner because with compound interest, the interest amount is added to the principle continually and then begins to incur additional interest charges. Credit cards work by charging compound interest and this is why the balances can easily get out of control and be difficult to pay off.



Debt Consolidation Loan Terms Apply Online
Many mortgage lenders give borrowers the option of using all or part of your new home loan for debt consolidation. If you prefer, you can choose to use some of the money to build an addition onto your home or make other home improvements. This money can also be received as cash for personal use. Most programs that are offered have terms anywhere from 5 to 30 years. The minimum loan amount that is offered in most circumstances is $15,000.



No Equity Home Loans Apply Online
When considering a debt consolidation loan or a second mortgage, homeowners should know that in many cases no equity is required. Many mortgage lenders offer no equity home loans to help you, the homeowner, consolidate your bills and lower your monthly payments. The funds generated through this type of no equity mortgage can be used for any purpose. These loans are available to qualified borrowers at up to 125% of a home's current price.



Maine Debt Consolidation Loans Apply Online
A Maine debt consolidation loan from Lakewood Capital Inc. can help to reduce your monthly payments. Our Maine mortgage brokers can help you with your Maine debt consolidation loan needs. Contact Lakewood Capital Inc. today to get started on your Maine debt consolidation home loan.