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Foreclosures Can Be A Bargain

Finding foreclosures for sale is the easy part, buying them takes a little more effort. With foreclosure inventory shrinking and the amount of offers increasing it is more important than ever to know what you’re doing. The average sale price of a South Florida home in some stage of foreclosure is $121,340. The average foreclosure sells for 35% less than similar properties not in foreclosure. Here’s how you can make your offer stand out:Locate  foreclosures by asking a real estate agent or go online. Government run companies Fannie Mae and Freddie Mac market foreclosures nationwide on HomePath.com and HomeSteps.com respectively. Both of these are free. Fannie Mae and Freddie Mac also have a program called First Look that gives first time home buyers and others who need financing a head start on investors.

Under this program, people who intend to occupy a home as a primary residence can submit offers during a 15 day window without competition from investors. After the 15 days the investors may bid. It is important to start with your best offer. This isn’t 2007 or 2008 when sales were slow and there were few buyers. Many real estate agent we spoke to said there best advice is to go in and make a solid offer. They all felt it was a waste of time to make a low ball offer in today’s environment.

Consider making a large good faith deposit to show you are serious. Some successful buyers have even put down the entire purchase price. Their reason is simple…they would have to pay the full amount in a few weeks so they might as well pay it up front to show serious interest. This is not a strategy for a novice or for the faint of heart. Once your money is up you are pretty much committed.Be accommodating, offer to close quickly. You also need to make sure your package is 100% complete.Don’t get over anxious and cave into unusual seller demands. You still have to protect yourself by getting a home inspection and doing your homework.

 

 

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Home Affordable Refinance Program

With many of the nation’s largest lenders struggling to roll out HARP 2 many would be borrowers are left to wonder what to do. It has been reported that customers of Bank of America have been unable to take advantage of the program because B of A is struggling to roll out the program and just cannot handle the demand. The new version of the Home Affordable Refinance Program is, to quote President Barack Obama, a big deal. “No more red tape; no more runaround from the banks,” Obama said in his January 24 address to congress. Bank of America announced last week that the firm began a reservation system asking those who call during high volume times if they wish to be contacted again in 60 to 90 days. These delays are sure to push borrowers to other lenders and that is something that caters to the strength of Gold Star Mortgage Financial Group. With offices throughout the Southeast including Coral Springs, Fl. Gold Star is gearing up and ready to help borrowers with no waiting list and the ability to close in 30 days or less. On top of this Gold Star is known for offering the most competitive rates in the industry. If you would like more information on the Home Affordable Refinance Program simply log onto www.goldstarsoutheast.com or call 866-938-0550.

 

 

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Mortgage Credit Certificate (MCC)

The Mortgage Credit Certificate (MCC) program entitles first time home buyers in Broward County to a federal income tax credit of up to $2,000 annually. This credit can be used for any reason by the home owner. We have home buyers use the credit to subsidize their mortgage payment, renovate their home, pay for unforeseen family costs or pay down debt, the list goes on and on. This credit continues for each year the home owner lives in the property for up to about 20 years. Qualified first time home buyers may obtain a dollar-for-dollar reduction of their tax bill. The credit is determined by the amount of annual mortgage interest paid and the taxable income determined on the federal tax return, For example if a home buyer is self employed and owes $3,000 to the IRS of taxable income the tax credit could allow the self employed buyer to only owe $1,000 or on the other side if a W2 wage earner is expecting a $5,000 tax refund, the return could be as much as $7,000. This is not a tax deduction, this is a tax credit. To qualify there are income and housing price requirements. A 1-2 family household’s income cannot exceed $95,040 and a 3-4 family household’s income may not exceed $110,088. If in the first nine years of your purchase you should choose to move from you primary residence, make a profit on the sale, and have income that exceeds the allowable income at the time of the sale, you may be subject to a recapture. However all three rules must apply for recapture of credit to be obtainable. The Coral Springs office of Gold Star Mortgage is approved to offer the MCC credit.

 

 

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FHA Loans in Florida

Looking for an FHA loan in Florida? We can help! Gold Star has been providing quality FHA Loans in Florida with low cost and low rates. We can pre-qualify you in moments for a FHA loan in Florida.

Click Here to apply For FHA Loans in Florida or call 1-866-938-0550

FHA is different to conventional loan by the way of qualification,  FHA loans are not so credit score driven like a conventional loan it allows borrowers to have been in trouble but have turned things around. The FHA looks to see if you have a good job and that you have the ability to make payments that you can afford. FHA Loans in Florida

FHA Loans in Florida  are a sure way to buy your first home, We would be happy to help you get pre-approved to see how much of a payment you qualify for…Stop Renting and own today!

FHA Loans In Florida

Florida Title Search Companies will provide you with fast title searches for your refinance or Purchase.

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Gold Star promise

Gold Star Financial Mortgage has professional loan originators that are knowledgeable in all aspects of the mortgage industry. Our team has grown with a solid foundation which insures the security of the Gold Star families . Gold Star invests in people and that is why 95% of Gold Stars clients refer their families and friends back to the originators that helped them. Gold Star holds the #1 originator in the country. Our operations team works to meet contract dates and pays attention to the importance of each person attached to each transaction. At Gold Star it is people helping people, with low cost and the lowest industry rates.
To join the Gold Star team you can reach at 866-938-0550 Lynn Whitefall

Get a Florida Title Insurance Quote and Save on your next closing

Florida Mortgage Refinancing

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FHA Tampa | 1-866-938-0550

Looking for an FHA loan in Tampa? We can help! For over 10 years Gold Star Mortgage Financial has been providing Tampa with FHA mortgage loans. We can pre-qualify you in moments for a Tampa FHA loan.

Click Here to apply For FHA Tampa or call 1-866-938-0550

FHA is not like a normal conventional loan, Tampa FHA loans are not so credit driven like a conventional loan it allows borrowers to have been in trouble but have turned things around. FHA looks to see if you have a good job and that you have the ability to make payments that you can afford. Tampa FHA

FHA home loan Tampa is a sure way to buy your first home, they allow buyers assist programs like ameridream so that as long as you have a participating seller they can help you with your cash to close. We would be happy to help you get pre-approved to see how much of a payment you qualify for…Stop Renting and own today!

FHA Tampa

Florida Title Search Companies will provide you with fast title searches for your refinance or Purchase.

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FHA Orlando | 1-866-938-0550

Looking for an FHA loan in Orlando? We can help! Gold Star Mortgage Financial has been providing Orlando with FHA mortgage loans for several leads. We can pre-qualify you in moments for a Orlando FHA loan. call 1-866-938-0550

FHA is not like a normal conventional loan, Orlando FHA loans are not so credit driven like a conventional loan it allows borrowers to have been in trouble but have turned things around. FHA looks to see if you have a good job and that you have the ability to make payments that you can afford. Orlando FHA

 

 

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FHA Miami | 1-866-938-0550

Looking for an FHA loan in Miami? We can help! Gold Star Mortgage Financial has been providdes Miami with FHA mortgage loans. We can pre-qualify you in moments for a Miami FHA loan. call 1-866-938-0550

FHA is not like a normal conventional loan, Miami FHA loans are not so credit driven like a conventional loan it allows borrowers to have been in trouble but have turned things around. FHA looks to see if you have a good job and that you have the ability to make payments that you can afford.

 

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Florida FHA Loan | 1-866-938-0550

Looking for a Florida FHA Loan? Gold Star Mortgage Financial can help you with all your FHA loan needs. We have been helping  clients with a FHA Loan and mortgages since the 1980′s.

A Florida FHA Loan can be a sure way for you to purchase a home for the first time. The FHA allows down-payment assist programs, one particularly is called the Ameridream which we are work with to help customers purchase homes. This programs allows you not only to get help with your down-payment but also with your closing costs.

Loans by the FHA have been more geared lately to help struggling borrowers who are having trouble with their current  mortgage obligations. The FHA created what called the “FHA Secure Mortgage” which was set up for this reason specifically.We constantly educate ourselves with the ever changing fed so that we can bring you the latest in more products that are being released.

For More info on obtaining a FHA Florida Loan please call us directly at 1-866-938-0550

Florida Title Search Companies will provide you with fast title searches for your refinance or Purchase.

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Smart Mortgage Shopping | 3 Steps to Take

By: Grant Eckert

Most people wouldn’t just purchase the first car they look at, so why would shopping for a mortgage be any different? New would-be homeowners are looking for ways to simply just secure financing that they forget that they are the ones in control of their terms. To help you get the best mortgage deal for your current financial situation and for your future, here are three steps you will want to take.

Before you can take advantage of any of these steps, it will help if you to gain a basic understanding of the mortgage process and terms you might run across as you begin your search. There are a number of helpful books and websites you might want to look into that can help you begin to find your footing in this maze of mortgage-speak.

First of all, you need to look at the lending information from several different lenders. You have a number of options for borrowing money – credit unions, banks, thrift institutions, and mortgage companies. So, with those places in mind, you will want to start asking around for the amount of money that you will want to borrow to see what offers you might get. And while a mortgage broker can do this footwork for you, they will need to be paid for their services, which may not be something you want to pay. However, their services are worth it due to their experience and how many lenders they can access.

The next step in finding a mortgage is to start asking these lending institutions what kinds of terms they can offer you. The most important term that you will come across is the rate of interest. When you are purchasing a home, you will be paying not only money for the house itself, but also for the borrowing of the money – interest. This allows the lender to make money from your transaction as most interest is calculated over the time period and the amount of the loan. Thus, the longer and bigger the loan, the more money they will make. But since you’re interested in paying for a home and not the bank, you will want to start looking for the lowest rates you can.

You will find that rates are divided into fixed and adjustable. You will want to make sure that the lenders are up front about how current their latest posted rates are. Note that fixed rates mean that your mortgage payments will not change, while adjustable rates will make your monthly payment vary. In addition to the interest rate, you will want to get a thorough explanation of the points and the APR associated with the lender to get a comprehensive idea of what a loan from them will entail.

The third step in shopping for a mortgage is often the most intimidating for the borrower and that’s negotiation. You have a right to negotiate for the terms that you want, though you might not get them. It will help as you are looking at the various lending institutions if you begin to create an ‘ideal’ mortgage plan in your head. That way, you can talk to other lenders about what other institutions have offered you so that they can match that price or reduce their rates to attract your business.

You are in the driver’s seat when it comes to your mortgage, so be sure to speak up when you think something is too high or ask for an explanation of every number that you see. If you’re not happy, you can always look elsewhere for a lender.

 

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Refinance Florida - Refinancing Florida - Florida Mortgage Refinance

Refinance Florida FHA Mortgage Refinancing - Florida Home Refinance...Gold Star Mortgage, a leading mortgage company in Florida, is currently working with all the major FHA banks and lenders to get ready for the new FHA Florida mortgage products under the FHA Programs. Before sub-prime existed people with less then perfect credit relied on FHA mortgages to buy and refinance their homes. Now that the sub-prime mortgages may be a thing of the past people are again turning to FHA mortgages to refinance there homes. Mortgage BLOG It's important to understand the pros and cons of an FHA mortgage refinancing, they do carry MIP otherwise known as mortgage insurance. This is an additional fee that must be paid, good news it's financable. What good about FHA...less down payment for your purchases, higher LTV ratio or loan to value ratios. They will even allow certain grant program so tha you can buy homes with as little as one months mortgage payments. What is a Short Sale Click for Credit Card Debt Relief

Miami Home Refinancing

Trying to Refinance your home mortgage...? Apply Now and ask if you can obtain a principle mortgage balance reduction.

Florida Reverse Mortgage

As a Florida FHA Lender, we are currently working with many seniors to get a Florida reverse mortgage. If you are over the age of 62 and own a home you may qualify for a Florida reverse mortgage. Florida reverse mortgage is great way for you to start enjoying the rest of your life. You can take a one time lump sum payment, monthly payments or combination of both for your Florida Reverse Mortgage. We have been helping customers through out the entire state of Florida since the early 1990"s. "Florida Refinance Mortgage" Gold Star Mortgage can provide many types of government (FHA) backed loans for mortgages and home Loans. You can use these Government mortgage loans for home purchase, refinance and Revers mortgages. Government 203 k can also be used to help you buy and repair your new home. A Government Refinance Mortgage is a great way to get mortgage relief as well if you are starting to suffer from a sub-prime loan. Florida Reverse Mortgage. What is Title Insurance

Florida First Time Home Buyer Program - FHA First time home buyer

Search Now for Homes For Sale and receive 1% Closing Cost Credit

Thinking of buying a home for the first time? Well you should be, though housing prices have proved to go up and down overall they are probably still the best and #1 way to build wealth? They say at any given time of home purchase that real estate prices will double over the course of 10 years. "Florida Mortgage Broker" Quick math will tell you that if you spent $250,000 on a home you will make an additional $25,000 per year just by paying your monthly mortgage payment which in some cases is about what you would be paying for rent. We are currently specializing "Miami home mortgage" Purchases, Tampa home mortgage purchases, Jacksonville home purchases and Orlando home mortgage purchases. Call today and ask to speak with one of our Florida First Time Home Buyer Program Specialists at 1-866-938-0550. We also provide Florida commercial mortgage loans. Please click link below to apply for a home purchase. Energy Project Finance by BLP

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Miami Refinance - Home Mortgage

Miami Refinance - Direct Mortgage Lender based out of South Florida servicing Miami Beach mortgages, Fort Lauderdale Mortgage, Miami Home Mortgage, Miami Beach refinaces, Naples mortgage, Palm Beach mortgage, West Palm Beach mortgage. Gold Star Mortgage Miami Home Refinancing acts as a mortgage broker/ mortgage lender on Home Loan Florida, commercial loans, Florida Refinance, construction loan and home equity lines throughout Florida. Gold Star Lending Group specializes in South Florida Home Loan and Mortgages. One of the advantages of working with our Mortgage Lender company is that we have over 300 lenders available to help the needs of our clients. Miami Refinance

Home Loan Florida

Gold Star Mortgage Personnel Consultants are very well trained to help you with all of your real estate financial necessities. We are located in South Florida; Gold Star Mortgage is a leader and a pioneer in many mortgage programs. We can provide you with a Good Faith Estimate to show the best posibble Miami Florida mortgage rates available to you from us. As a lender and a Broker we are able to shop all the top lending institutions to find you the possible mortgage rates in the Miami Florida area. When shopping for your Miami Mortgage Rates make sure you are getting a Good Faith Estimate with all the fees associated with the mortgage rate you were promised.

Specializing in Fort Lauderdale Mortgage!

Gold Star Mortgage finances loans for South Florida and Refinance Florida properties. We have been helping investors and many families for years. We have committed all our efforts to making Fort lauderdale mortgage refinancing loans in many communities in South Florida and Florida. Our loan advisors have the knowledge and expertise to help you select the mortgage in Fort Lauderdale Florida that will best fit your specific necessities. Be it a fixed rate FHA mortgage loan, or many of our flexible adjustable rate loans. Gold Star Mortgage considers your business to be a very important to us, and we will do our best to allow you to receive what you are trying to achieve.

Florida Mortgage Refinance