Refinance Your 1st & 2nd While The Rates Are Low

	Ezineology.com ONE OF THE INTERNET'S LEADING SOURCES OF ARTICLE DISTRIBUTION	Search Articles: Total 1 User(s) Online Total 1378 Quality Articles Written by 168 Expert Author(s).

Ezineology.com
Expert Authors

Articles Area
	Home
	Browse Articles
	Search Articles
	Submit/Edit Articles
	Get RSS Feeds
	Free Articles Content
	Most Viewed
	What's Hot
	Popular Articles
	Latest Articles
	Most Emailed
	Articles Rating

Popular Articles
	Milton Keynes - A C
	The Importance of F
	Wholesale Dropshippi
	Use Forums To Impro
	Forum Perils for Cu

Latest Articles
	Pet Insurance for Yo
	Avoid The Scams - Lo
	Foreclosed Homes: 5
	Deceptive Milk Label
	Buy Area Rugs on the

For Publishers
	Free Email Alert
	Manage Subscriptions
Guidelines
	Author
	Publishers
	Terms & Conditions
Advertise Here
	Contact Us to Advertise

Home \| Finance \| Others \| Refinance Your 1st & ... Refinance Your 1st & 2nd While The Rates Are Low Submitted by Connie on 2008-04-10 and viewed 115 times.

Rate This Article |

Add Comments |

Send To Friends

View Comments (0) |

Publish |

Print |

Download as PDF

I know about all the bad over blown hype from the media about the mortgage industry. I have also heard each of our presidential candidates run down the economy over and over again. This happens every election year.

I know about all the bad over blown hype from the media about the mortgage industry. I have also heard each of our presidential candidates run down the economy over and over again. This happens every election year.

Unfortunately people with busy lives hear and read all of these exagerations and begin to think it is true. "If you tell a lie often enough people will believe it is true". There you have it in a nut shell!

Is our economy running a little slow right now? Do Da! ... Sure, but it is not trashed. In fact, the mortage rates are at an all time low!

Are independent mortgage brokers and appraisers the cause of the mortgage scandals? Absolutely NOT. In fact, it is their integrity and concern for their client’s well being that helped to fulfill the American Dream.

The real scoundrels are the large corporations, and giant lenders. Don’t let me forget to mention the politicians like the New York Attorney General, Andrew Cuomo, who is using the situation to his benefit by "saving the consumer" with new laws that will only hurt the consumer by putting the independent appraiser and broker out of business. But of course he is making a name for himself. What does he care. Guess who wants to run for president in 2012?

Well, enough of that! I received a very simple question yesterday and I am writing about it here for a few reasons I think you will understand afterwards.

The question was: "What is CLTV and LP?"

CLTV means Combined Loan To Value. This is used when there is more than one loan on a property. As an example, if the first mortgage is 80% of the appraised value and there is a 2nd loan of 15% of the value, the CLTV is 95%.

LP is a term for Loan Prospector. Loan Prospector is a computerised program that reviews and approves or disapproves an FHA, VA, or Freddie Mac loan. DU, DeskTop Underwriting, is a similar program used for Fannie Mae, FHA, or VA loans. When an application is put through these programs, basically, ... sort of, the live underwriter then only has to verify the documentation because the computer has given an approval. If a loan isn’t approved because of an unusual circumstance, a lender can chose to do a manual underwriting in which case the loan may still be approved.

My first point for posting this is to let you know that Lenders ARE lending money. The mortgage industry is alive and well in spite of the media and presidential candidates.

As a consumer you should take full advantage of these unbelievable low interest rates. Refinancing to lower your interest rate will save you a ton of money.

In the case above, combining a 1st and 2nd mortgage is a very smart financial move and will also lower her payments.In the

If you are thinking about buying a home there is no better time than now. I really mean like, ... NOW. As soon as a new president is elected, and it doesn’t matter which one, the rates will go back up. I promise you this will happen. It happens EVERY election year

Just make sure you go to a reputable broker and don’t buy more house than you can afford.

Article Source: http://www.ezineology.com/

Connie Sanders thinks homebuyers must understand FHA Guidelines before they apply for a home loan anywhere. Connie created her web to do just that and can be reached here with questions: http://www.fha-homeunderwriters.com

Foreclosed Homes: 5 Easy Tips For A Great Deal On Your First Home

FHA Loans Conquer Home Buyer’s Past Credit Problems

Horizon Asset Management - For Business Advancement

How To Get Low Monthly Payments And A New Car

Which Small Business Credit Card is Right For You And How To Tell

Cheap Auto Insurance -- How To Get It

Long Term Care Insurance -- 9 Things To Consider When Buying

Credit Card Debt Relief-Will It Work For Me?

Financial Infidelity

Learning How to Control Your Money

Long Term Care Insurance -- Crucial Steps And Precautions

The Benefits of a Shorter Term Loan