[Boost-bugs] [Boost C++ Libraries] #6953: Exploring Alternative Mortgage Loan Options

Subject: [Boost-bugs] [Boost C++ Libraries] #6953: Exploring Alternative Mortgage Loan Options
From: Boost C++ Libraries (noreply_at_[hidden])
Date: 2012-05-30 09:36:57

#6953: Exploring Alternative Mortgage Loan Options
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 Reporter:  baklazan@…            |       Owner:  rwgk          
     Type:  Bugs                  |      Status:  new           
Milestone:  To Be Determined      |   Component:  Python        
  Version:  Boost 1.49.0          |    Severity:  Not Applicable
 Keywords:                        |  
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 Many people don't realize it, but there are actually several options
 available to those who are looking for a mortgage lender. Aside from the
 traditional mortgage brokers and http://titancassino.org commercial banks,
 here is a look at a couple of the less traditional options available.

  Private Individual

  The simple reality is that anyone who has enough money in the bank can
 serve as a mortgage lender, so long as they abide by all of the federal
 and state regulations that go into making such a loan. This includes
 meeting guidelines associated with charging interest rates and fees as
 well as providing all of the disclosures that are require by law.

  When obtaining a mortgage loan through a private individual, there are a
 few things you need to keep in mind. First, although the lender may not
 require you to obtain an appraisal or a title policy, it is in your best
 interest to obtain an appraisal as well as title protection in order to
 keep yourself protected. After all, one of the reasons for obtaining an
 appraisal is to prevent the buyer from paying more money than necessary on
 a home.

  There are several avenues you can pursue in order to obtain a loan
 through a private lender. If you have a wealthy friend or family member,
 he or she may be willing to provide you with a loan. Furthermore, some
 wealthy individuals offer private loans as a side business that allows
 them to make a little extra money off of their income. In addition, if you
 are purchasing the home directly from a seller, he or she may be willing
 to allow you to finance your payments directly. Keep in mind, however,
 that this situation works out best when the property is free and clear
 from any other loans. Otherwise, it may contain an alienation clause that
 could further complicate matters.

  Stock Brokerages and Online Companies

  Many stock brokerages do more than just handle IRAs and mutual funds -
 many of them also offer mortgage loans. A few examples include Ditech, HFC
 Home Loans, Charles Schwab and INGDirect. The Internet is also a great
 resource for finding a mortgage lender. Of course, if you are the type of
 person that needs to meet directly with a lender, then obtaining a loan
 online isn't right for you. If you are comfortable with using the
 Internet, however, this can be a great option. This is also a good option
 for those who have a great FICO, as this minimizes the amount of paperwork
 necessary and your loan can be approved quickly. Just be sure to contact
 only a known and reputable online lender who conducts business over a
 secure Website.

  While there is certainly nothing wrong with taking a more traditional
 avenue toward obtaining a home mortgage loan, it is also a good idea to
 explore alternative options. By exploring all of the options available to
 you, you will be more likely to find the rate and terms that are best
 suited to your lifestyle and needs.

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