Mortgage loan modifications are a restructuring of the original agreement of a contract which has been agreed by both a lender and a borrower. The things that can be modified include new interest rates and revised terms. They are considered a long term solution for borrowers who are thinking about bankruptcy or foreclosure. Generally, any [...]
Archive for October, 2009
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What interest rate should I get with a mortgage modification?
October 8th, 2009 
admin What interest rate should I get with a mortgage modification? It could be as low as 2% on a 40 year amortization. Your modified payment will depend primarily on your Current Income. Therefore, lower income means lower rates. Interestingly, the traditional risk variables that would ordinarily determine your interest rate when applying for a loan [...]
Why Invest Money On Apartments
October 7th, 2009 admin Most traditional commercial bank financing is capped at 20 year amortization schedules on building types besides multifamily. It’s common to get thirty year financing and some programs go to 35 and even 40 years on multifamily mortgage. These longer amortization schedules reduce monthly payments, which have an interesting impact on the debt coverage proportion, inflating [...]
