Mortgage Lenders of America Ratings & Reviews http://cast-tilt.com Find Loan Program Wed, 25 Jan 2012 18:42:59 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 Is It Beneficial to Obtain A Secured Loan? http://cast-tilt.com/2011/03/is-it-beneficial-to-obtain-a-secured-loan/ http://cast-tilt.com/2011/03/is-it-beneficial-to-obtain-a-secured-loan/#comments Thu, 10 Mar 2011 19:15:30 +0000 admin http://cast-tilt.com/?p=14 A lot of people willing to obtain a loan have a question which type of a loan is a better choice- secured loans or unsecured loans, which of the loans is the most reasonable choice and what is the difference between them? If you are going to apply for a loan, but not sure which one to choose, read the following information that will help you to make the final decision. Before applying for a loan it’s very important to know more about each type of these loans.

The main characteristics of a secured loan

A secured home loan is a loan that is provided by a creditor when the borrower puts up some kind of security to guarantee that the creditor will receive their funds back. Typically this is your property, but it can also be your auto, a boat or any other high valuable item. If you secure a loan against your house, it’s possible to borrow sums from £5,000 to £100,000 for the periods ranging from 5 to 25 years. The loan provider determines what amount you can borrow and at what interest rate which is based on the value of the property you put up as collateral.

The benefits of secured loans

There are some reasons to choose a secured loan rather than an unsecured loan. The main advantage of a secured loan is that it’s more likely for you to get the approval for a loan because the risk that the lender will lose their money is much lower. This is more important than your good credit history. You can also take secured loans for bigger amounts and for a longer period in comparison with unsecured loans, and very often at more favourable rates. If you are sure that whatever happens within the term of the loan you can make the repayments without any problems, a secured loan is the best option as the rates will be quite favourable.

The negative aspects of secured loans

In spite the fact that secured loans have a number of benefits that have already been mentioned, there are some negatives facts, the main is that if you are not able to make regular repayments you might lose your house. As the loan is secured against your property, in case you can’t deal with the payments the creditor can return their money back by selling your property. You may be able to afford the repayments now without any difficulties, but it could happen that the loan is taken out for a period of 25 years, and if you get fired or your regular income is reduced for some reason, you may face with quite difficult financial problems. If you finally decide to obtain a secured loan it is recommended for you to consider taking out some kind of protection of your income to ensure yourself that any unpredictable problems don’t result in losing you’re your house.

]]> http://cast-tilt.com/2011/03/is-it-beneficial-to-obtain-a-secured-loan/feed/ 0 5 plex http://cast-tilt.com/2011/02/5-plex/ http://cast-tilt.com/2011/02/5-plex/#comments Sat, 26 Feb 2011 10:34:55 +0000 admin http://cast-tilt.com/?p=12 Im looking for a lender for a colorado property, 5plex purchase will be owner oq. will live in one unit rent a rest  renters all ready in, full doc  632 mid score , but perfect credit .
Also looking for a commercial lender 70 or better ltv cash out refi on commercial building and  existing business in it.
also in colorado im in state of washington fyi if you a lender.

]]> http://cast-tilt.com/2011/02/5-plex/feed/ 0 Mobile Home Financing in miami http://cast-tilt.com/2011/01/mobile-home-financing-in-miami/ http://cast-tilt.com/2011/01/mobile-home-financing-in-miami/#comments Thu, 13 Jan 2011 06:30:28 +0000 admin http://cast-tilt.com/?p=6 I’M NOT SURE IF YOU GUYS CAN HELP ME OR NOT .. BUT I’M LOOKING FOR A LENDER WHO IS WILLING TO FINANCE A MOBILE HOME HERE IN MIAMI .. IF YOU GUYS HAVE ANY IDEA ON WHO COULD DO THIS, PLEASE EMAIL ME AND LET ME KNOW …. THANK YOU!!!!!! – MAGGIE

]]> http://cast-tilt.com/2011/01/mobile-home-financing-in-miami/feed/ 2 Singlewide with additions, need an investor http://cast-tilt.com/2010/10/singlewide-with-additions-need-an-investor/ http://cast-tilt.com/2010/10/singlewide-with-additions-need-an-investor/#comments Sat, 23 Oct 2010 06:07:14 +0000 admin http://cast-tilt.com/?p=10 I am looking for a singlewide investor with good rates. This singlewide has additions. Total dwelling 1507 square feet. Appraiser says it does not take on all characteristics of a stick-built home. Therefore the search is on. Have my borrowers completely fannie mae underwriten, except appraisal. Property does meet foundation requirements. The dwelling and property surprisingly looks good to still classify it as singlewide. This is a cash out debt consolidation, ltv 59%. Borrower wants a 15 year fixed rate below 7%, if that is possible. Property is in GA.

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