Finance, Loan, Debt and Credit.

May 16, 2018

Can You Refinance A Georgia Mortgage After Bankruptcy?

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Getting a Georgia mortgage refinance after bankruptcy isn’t as difficult as most people think it is. Because you already have a current mortgage, and will simply be replacing this loan with a new loan, lenders don’t feel there is a great deal of risk involved when offering you an approval.
How Soon Can You Refinance?
Within 6 months of filing bankruptcy, you will be able to find a lender willing to offer you a Georgia mortgage refinance. In some cases, you may be able to refinance even sooner. That said, the longer you wait, the easier it will be to get a low interest rate.
What Will Lenders Look At?
When reviewing your request for a Georgia mortgage refinance after bankruptcy, a lender will look at several different things to determine whether of not you are eligible for the loan. Income, savings, and the ability to pay back the loan will all be items of focus, but the big deciding factor will be your credit report. Lenders want to see that you have made an effort to keep up with your current bills, as well as any lines of credit established after the bankruptcy was filed.
How Much Will the Refinance Cost?
The cost of your Georgia mortgage refinance will depend on how much money you are borrowing, the state of your credit score, and the level of risk the lender feels they are assuming. The biggest cost will be in interest. Currently, rates on Georgia refinance loans average 5.53 percent. Borrowers who have a low credit score or a bankruptcy on their credit report will most likely be expected to an additional 2 to 4 percent points more than this average. The other major expenditure for a Georgia mortgage refinance will be closing costs. These costs typically average just over $3,000 for Georgia residents. The good news is that your bankruptcy should have little to no effect on these fees.

For a list of Bad Credit Mortgage Lenders online, visit <a target=”_New” rel=”nofollow” onclick=”javascript:pageTracker._trackPageview(‘/outgoing/article_exit_link’);” href=””>Georgia Lending Center</a>.

December 14, 2015

How Georgia Homeowners Can benefit from the New Home Loan Programs

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How Georgia Homeowners Can benefit from the New Home Loan Programs

The Federal Making Home Affordable Program has created a number of home loan programs that will help keep Georgia families in their homes, stabilize Georgia’s communities and assist Georgia homebuyers during these troubled times. Under these new home loan plans, Georgia homeowners can:

So How Do They Work? Refinance

For Georgia Homeowners that are current on their mortgage payments but unable to refinance because their home value has decreased, you may be able to refinance to a lower rate, or a lower-risk, loan through the refinance solution that is part of this program. Examples of how the refinance program can help Georgia Homeowners:

Loan Modification

For Georgia homeowners who are behind in their mortgage payments, in the foreclosure process, or are current on their payments but have recently experienced a significant hardship, you may be able to modify your loan to a lower rate through the Loan Modification Program. Significant hardships are set as circumstances that may make it difficult for you to pay your mortgage going forward.


For Georgia area families and individuals that are in search of a loan for their new dream home, financing and programs are available to help them purchase;

How Do I Know If I Qualify?

Georgia Loan Pro can help you move through the qualification process, and help you find the homeowner lending program that fits you best. Georgia Loan Pro will work with Georgia Homeowners to assist them in putting together the best purchasing package, and discover whether loan modification or a refinance, is the best option for them.

For more information, please contact Georgia Loan Pros via email.

February 28, 2015

Georgia Mortgage Loans

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You may be looking forward to buying a home in Georgia, one of the most upcoming states in the United States. Georgia has unlimited potentialities and is an excellent place to live in. to date, numerous people are relocating to Georgia to reap the benefits.

An important thing is knowledge. You need to educate yourself on Georgia mortgage loans before you set out on your endeavor. Georgia mortgage loan rates are going north. In fact, the rates have crept more than 10 times over the past three years and are still climbing. Hence, if you are planning to relocate to Georgia and buying a home there, this is the appropriate time before mortgage loans become too costly.

The easiest way to search for Georgia mortgage loans is through the Internet. Today, thanks to the internet, you can find information about Georgia mortgage loans, about various lenders and banks offering Georgia mortgage loans, and more. You can even compare Georgia mortgage loans offered by various banks and private lenders.

Start looking for a lender online. You will find numerous lenders offering Georgia mortgage loans. The state of Georgia has some strict rules laid down. Only minor differences exist, which, however can still make a huge difference especially when the huge cost of real estate is involved.

A favorable idea is to select your lender for Georgia mortgage loan is to shortlist a number of lenders and compare what they are offering. Visit to find out the lowest interest rates in your area as well as the various mortgage options available to you. Get at least four quotes and don’t settle simply for the lowest rate: you may be able to get an even lower one with a little bit of negotiation on your part.

February 20, 2013

Georgia Refinance Loans With Bad Credit In Atlanta, Savannah, Augusta, Athens, Columbus, Macon, Etc

Real Estate in Atlanta, Savannah, Athens and surrounding area have been estimated to take homeowners, cash from their homes through home equity loans or home equity line of credit loans for home improvement projects, credit card debt consolidation, finance training, etc.

If you live in Georgia, and you need to know a mortgage refinance loans, but you’re worried about bad credit – that it is possible to obtain a HELOC or Home Equity Loaneven with a low credit score be it 450, 500 or 550.-Texas Home Equity

What is your FICO credit score?

Your FICO (Fair Isaac Corporation) score is number between 300 and 850, that indicates your financial health. A good FICO score is a score above 670, while a poor FICO score is a score below 620. Different lenders vary of what they consider a “fair” credit score versus a “poor credit score” – thiscan be a gray line.

Having a good credit score allows you to get credit on competitive terms – good interest rates, exciting new loan products, credit cards, etc.-Texas Home Equity

If you have a low credit score below 600, you will need to find a subprime refinance lender, who works with people with bad credit, whether it is due to poor debt management or a history of Chapter 7 or Chapter 13 bankruptcy.

Not all subprime lenders are created equal. The best lender is a lender, who is willing to look at your specific situation and find you the best loan product. Even though, you may have a low credit score, you can also have good equity in your home. Some lenders even offer up to 125% LTV (Loan to value) loans, if you qualify. read more

August 11, 2012

Home Equity Loans in Florida, Georgia & Alabama

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. Secondly, the lender may allow you to deduct the interest because the debt is secured by your home. However, securing a home equity loan, you should compare the costs of the equity from your home against the benefits. Ideally, you should opt for such credit terms that meet your requirements without inviting financial risk.

Types of Home Equity Loans

Second mortgage- In a second mortgage, you get a fixed amount of money that you can repay in equal monthly installments over an extended period of time. You can consider a second mortgage if you have a definite needs for a specific purpose, usually renovations, making additions, etc.

Reverse mortgage – By applying for a reverse mortgage, you can convert a part of the equity in your property into cash, and most importantly, you do not have to sell your home or incur additional charges.

The three basic types of reverse mortgage:

Single-purpose reverse mortgages: Generally have very low costs and can be used for one purpose specified by the government or nonprofit lender.

Home Equity Conversion Mortgages (HECMs): These are usually costlier and up-fronts are generally higher when compared to other types of mortgages. The advantage of home equity conversion mortgages is that these are widely available, have no income or medical requirements, and can be used for any purpose.

Proprietary reverse mortgages: These typically private loans are usually backed by the housing development companies.

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