Welcome to Real Estate Loans Guide
Real Estate Loans Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Pros and Cons of Unsecured Real Estate Loans
from:Most home loans are secured. This means that you used collateral to purchase the house. This makes the loan have low interest rates and fewer risks. But not everyone has collateral. You may not have a good car or other assets. If that's the case, you may not be able to get a traditional secured loan. That doesn't mean that you can't buy a house, though. In fact, certain banks have options for people without collateral. These are called unsecured real estate loans. They are for people who don't have any assets that can be used as collateral. There are many pros and cons to unsecured real estate loans. You should weigh all of these before deciding if this option is right for you.
Interest rates dictate a lot about your loan. When they are low, you will have lower monthly payments and end up paying less to your bank over the years. The current national average for a secure loan is between five and seven percent. Unfortunately, unsecured real estate loans are much higher. While they aren't usually as high as what you would find with credit cards, they are still higher than regular loans. This will make your monthly payments higher and you will end up giving more money to the bank in the end. This is the penalty you get for not having collateral.
The biggest positive about unsecured real estate loans is that they give homes to people who otherwise wouldn't be able to qualify for them. Usually, if you have to use an unsecured loan, you don't have any other options. For most people, owning a home is worth the hassles that make come from one of these loans. If you want to own your home and you don't mind paying the extra fees and interest rates, then you should definitely choose unsecured home loans.
Another big con about unsecured real estate loans, besides the high interest rates, is the fact that these rates aren't tax deductible. With a regular, secured home loan, you will be able to deduct these interest payments from your taxes every year. You can't do this with an unsecured loan. This means that, for some, getting this loan won't be worth the hassle.
As you can see, there are a lot of pros and cons to getting an unsecured loan. Make sure you weigh all your options before making a decision, or you may regret it. After all, this is a huge decision. Getting this loan will affect you for the next fifteen or thirty years.
Real Estate Loans News
Many Homeowners and Real Estate Agents Plead Guilty in $20 Million Mortgage ... - LoanSafe
Many Homeowners and Real Estate Agents Plead Guilty in $20 Million Mortgage ... LoanSafe Four people last week pleaded guilty in federal court to charges relating to a far-reaching mortgage loan fraud scheme involving at least 20 properties and more than $20 million in loan proceeds in Northern California, according to the US attorney's ... Plea deals made in Calif. mortgage scheme 4 plead guilty in NorCal mortgage fraud scheme |
REAL ESTATE: Refinancing program expands for Fannie/Freddie borrowers - Press-Enterprise
 USA TODAY | REAL ESTATE: Refinancing program expands for Fannie/Freddie borrowers Press-Enterprise With the changes that are expected to make the program much more effective, the program is being called HARP II by those in the real estate and mortgage industries. Probably the most significant improvement is that it lifts the ceilings on the amount ... 8 Steps for Boards to Stop Fannie Mae From Killing Your Co-op / Condo's Sales Mass Refi Plan Would Hurt Morgage Bonds in Pensions Tales from the Field: A Homeowner Who Fought Foreclosure and Won |
Real Estate Weekly- What is a 203K Rehab Mortgage Loan? - Ukiah Daily Journal
Real Estate Weekly- What is a 203K Rehab Mortgage Loan? Ukiah Daily Journal Most mortgage loan programs require homes "in need of work" to be complete before the financing can be secured for the purchase transaction. Whether the property needs a little or a lot of work, most first-time home buyers simply don't have the ... Google Ends Mortgage Ads; Streamlines to be Nixed from FHA Compare... |
Debt Levels of Commercial Real Estate Borrowers Set to Increase 40% in 2012 - World Property Channel
 Jakarta Globe | Debt Levels of Commercial Real Estate Borrowers Set to Increase 40% in 2012 World Property Channel Most borrowers (74 percent) are sourcing primary loans or short-term construction loans (41 percent) followed by 30 percent sourcing a line of credit. The debt process is improving as commercial real estate borrowers report feeling satisfied with the ... JLL Commercial Real Estate Report: “It's a Great Time to Be a Borrower” MBA CREF/Multifamily Housing Convention & Expo 2012 Vlogs from JLL |
Zillow Launches Zillow Mortgage Marketplace Android App - MarketWatch (press release)
Zillow Launches Zillow Mortgage Marketplace Android App MarketWatch (press release) ... the leading real estate information marketplace, today announced the launch of the free Zillow Mortgage Marketplace Android(TM) App giving home shoppers on-the-go access to the innovative loan shopping experience of Zillow Mortgage Marketplace. |
Bank of America Plaza Becomes Atlanta's Priciest Repo - LoanSafe
 Globe and Mail | Bank of America Plaza Becomes Atlanta's Priciest Repo LoanSafe by Alex Ferreras on February 8, 2012 in Latest Bank News (Source: J. Scott Trubey The Atlanta Journal-Constitution) – One of the biggest emblems of Atlanta's real estate boom became the biggest emblem of its bust on Tuesday. Bank of America Plaza, ... American Foreclosure Hits Bottom With Tower Auction in Atlanta: Mortgages Bank of America Tower in Atlanta Foreclosed; Sells for Half Price |
Fitch Affirms Newcastle CDO IX - MarketWatch (press release)
Fitch Affirms Newcastle CDO IX MarketWatch (press release) As of the January 2012 trustee report and per Fitch categorizations, the CDO was substantially invested as follows: commercial real estate (CRE) mezzanine debt (32.2%), real estate bank loans and corporate debt (19.5%), B-notes (14.4%), ... Fitch Affirms Newcastle CDO VIII |
Bad Home Loans Top $72 Billion in 'Colossal Failure': Mortgages - BusinessWeek
 Bloomberg | Bad Home Loans Top $72 Billion in 'Colossal Failure': Mortgages BusinessWeek Wells Fargo & Co., Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Ally Financial Inc., the five largest home lenders during the real estate boom, tallied at least $6.78 billion in new costs tied to mortgages during the second half of ... Banks Near $25 Billion Pact on Foreclosure Probe 5 Booming Bank Stocks Poised to Fall |