such as single family homes that would be kept as rentals? I am speaking of the no money down techniques that do not involve obtaining a mortgage from an institutional lender.
how would these techniques work?

most of the TV stuff to sell you programs are garbage.

There are ways though, like 0 down loans, but those are getting harder and harder to get now.

The VA does it still if you’re a vet

you can set up an owner carry with zero down, then get a refi loan for more than the principal of that and use the balance for down payment and even pocket some, but the banks are getting tough.

http://www.guaranteedloanscompass.com/articles/loan-articles/mortgage-loans-for-bad-credit provides helpful information in order to get free online quotes for fast pay day loans for people with bad credit. You can actually view the offers on screen and decide if the loan on offer is affordable or not, this mean you get the best deals out there for people with bad credit ratings.

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Is 15% the normal. Are there any banks that will do no money down or little money down. I am a first time home buyer with decent credit.

www.naca.com is a non-profit housing advocacy group that does it’s own loans.

Many lenders have first time homebuying special deals. Sometimes you can do as little as 3% down if your credit is excellent, but then you are looking at PMI and things like that. Meet with several lenders and mortgage brokers to see what your options are. Good luck!

Tax on 1099C, Cancellation of Debt Income; Short Sale, Loan Modification & Foreclosure. Exception; Mortgage Forgiveness Debt Relief Act, Bankruptcy & Insolvency. Go To http://RealEstateMarketingThisWeek.com

Part 6 (Excerpts)

Arizona is not a recourse state, so chances are you will not owe 1099 C Income

In Arizona, typically its not a recourse state, so if they are telling you that theyre going to garnish your wages because you didnt pay back your entire mortgage, there is a local bank ,that was threatening a very good colleague of ours about a small second mortgage that person had taken out. Threatening to send it to collections and garnish her wages. It simply isn’t going to happen.

But nevertheless, there is still the tax implications that apply, if you need to navigate through this maze. There is a lot to it, you need to protect yourself. You talked about bankruptcy is one of those exclusions, right? One of the problems with bankruptcy is people dont understand the bankruptcy laws. They are so tight now and your feet are really held to the fire from the federal government right now. It’s not like you just didn’t make your mortgage payment, so you go file bankruptcy, it’s just not realistic. Assuming bankruptcy is the last resort option for everybody. And we certainly want to avoid that, it would not be sound financial advice from any credible source that I can think of.

Let’s walk through a case scenario, somebody who is listening to this broadcast, their head is spinning right now, they’re thinking, oh my gosh. I should have known about the tax implications, a short sale versus loan modification. Let’s start at the top and work through a quick scenario. And then we’ll point out the specifics of what they should be considering right now.

For example, we talk about this all the time and to your credit Michael Barnes and to Velocity Financials credit, you were early in bringing out the loan modification for people who were in a distress situation regarding a mortgage, maintaining or keeping up with the mortgage payment. So you started going down the path where the refinance started to become a much more difficult option, with new constraints and all the other factors that led to part of this economic crisis, a loan modification has become a buzz topic today. Driving to the station today, driving down Camelback Road, I see a sign on the corner. You know, one of those stick in the ground, homemade jobs, that says don’t refi a Loan, modify, with some success rate and the phone number.

Hang on there I want you to say the success rate. The sign literally said, 99% success rate, and it goes back to the point that you made when they say that they can reduce your mortgage principal by tens of thousands, hundreds of thousands of dollars, thats the absolute last resort for any lending institution. Thats not what this is about, so let’s start with that, then we will work on the tax ramifications of how that might work in the overall financial strategy.

I am familiar with the loan modification industry here in Arizona. There is no regulation, unfortunately. We at Velocity Financial work with a national network of attorneys, so if you’re the guy in El Centro California, or youre in Phoenix, or youre in Alaska it doesn’t matter where you’re at. We have someone who is an expert in that field in that state because the laws are different. But without the regulations some person with the ugly yellow sign on the side of the road says he has a 99% success rate, I don’t believe him it’s probably not using an attorney, who knows, dont buy into that garbage. Were going to tell you the truth, if we cant do a loan modification, we will tell you that we cant do it. And if a loan modification is not the best thing for you, you can find the some of these other options.

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Yes, the US government wants you to buy a home. Advantage Mortgage Group in Canby, Oregon, can help you get the loan. They have FHA, VA and USDA loans with little or no money down. Moving to an expensive area? Rehabbing a home? Advantage Mortgage Group has jumbo loans and special programs for investors. Lots of choices. Low, low rates. Advantage Mortgage Group.
Visit us http://www.yellowpages.com/info-12822484/Advantage-Mortgage-Group?from=youtb

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All lenders are telling me I need a hefty down payment…went through a bankruptcy a little over a year ago, but as a single mom, I can’t make a large down payment. I am sick of living in our apartment….too small for the kids and I. I need other options.

A number of options are available to you.

First of all you should re-establish credit if you haven’t done so already. You can re-establish your credit, possibly with a secured credit card. With proper use over 6 months time and a good credit score, more financing options will be available to you.

Instead of a "hefty down payment" that has been offered to you maybe a higher interest rate might be more to your liking. This could be a short term mortgage (say a 1 year term) and after that you could re-finance at a better rate. The higher rate for a 1 year term would get you into the market and you will only be paying it for the short term.

Another option would be to find a property where the owner is willing to carry some or all of the financing. The owner financing again could be for a short term at a higher than bank rate interest rate that works for both you and them.

You have options available! Home ownership is available to you! Be positive about it and it will happen!

Good luck!

I would like to purchase a property for investment purposes (renting) but cant really afford 20 nor 10% down on loans. Is there any loans offered by banks that offer such help for investors?

Not any more….the days of zero down are pretty much gone after the banks took such a bath by issuing them to folks who never should have had them.

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(866) 252-5067 Home Loans Tustin CA FHA Mortgage Residential Refinance Purchase Convential VA Financial Advisor Rate http://www.mortgageambassadors.com The process of getting a mortgage is not only mentally taxing but can be very emotional as well. You want to cover all your bases but youre committing to a property and a loan that you have to live with for some time. We are here to make your journey easier. You are welcome to learn at your convenience from all of our online reading materials but dont forget that we are available to answer any question that you have about your mortgage search. You can reach us anytime at Contact Us.

Weve put together this collection of online articles to help explain everything from the basics to some interesting and advanced topics.

The Anatomy of a Mortgage
A mortgage payment consists of PITI
P Principal – The original amount of the money borrowed from a lender.
I Interest – A fee charged for borrowing money.
T Taxes – Property taxes paid to your local government.
I Insurance Home owners insurance on your property.

Mortgages Choices

Fixed Fixed mortgages have a fixed term (like 15 or 30 years) and a fixed interest rate. The interest rate and term are fixed over the course of the mortgage and your monthly payment for the payment of principal and interest will not change during the term of the mortgage. Taxes and insurance can change so this may affect your total payment during the life of your loan.

Adjustable An ARM (Adjustable Rate Mortgage) has an interest rate that will be adjusted up or down according to current interest rate levels. The monthly amount for your principal and interest payment will go up or down based on these interest rate changes.

The Down Payment
Many people believe that they need to put down 10 percent or even 20 percent for their down payment and thats no longer true. There are many lenders that have loan programs that require 5 percent or less, including zero down. Way back when, the only zero down loans were from the Veterans Administration but fortunately those days are gone. If you think that you have to pay rent until you save up a 10 or 20 percent down payment, check with us. Youll be pleasantly surprised.

Prequalification
You will want to get pre-qualified during your mortgage search. Prequalification isnt binding but rather it gives you a ballpark idea of what you can afford. The lender analyzes your income, debt and credit history to estimate your maximum loan amount. Combine that with the money you have for a down payment and you have your maximum home price.

The next step is preapproval which verifies your income, debt and credit. Preapproval gives you the following benefits:

Knowing exactly what you can borrow. You will have an accurate commitment from your lender for the amount you can borrow.

Credit problem solving. You will know now, instead of while your offer is being evaluated by the buyer if you have any credit issues to be dealt with.
Stronger negotiating position. Sellers love preapproved buyers. They know your offer will not fall through and will treat you like the proverbial bird in the hand. This can help you negotiate a better price.

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I want to start flipping houses. I need to know everything about taking out a mortgage loan with LITTLE to BAD credit and what do you know about getting a loan on a For closer. I make 2500 a month and have the money monthly and the man power and a GREAT sales man to back me up now I just need the LOANS. PLEASE HELP!

Try http://poorcreditvisa.com

I tried the program for poorcredit with OX publishing.. it’s on the first page of this particular site. I signed up with an opening line of credit and it showed on my credit report as good standing.. Credit lines are from 5k to 10k with bad credit, they approved me!

Good Luck.