Maine Real Estate Information blog

This brochure provided by the Center For Responsible Lending and The National Association Of REALTORS, gives you the tool needed to be informed. In many housing markets, first time home owners are having difficulty affording their home and traditional mortgages may not be the best option for everyone. Many home-buyers are using Specialty Mortgages to “stretch” out their income so they can qualify for a larger loan.

In this brochure you’ll discover:

1. The common types of Specialty Mortgages: The 40 Year Loan - Interest Only Mortgages - Negative Amortization Mortgages  and Payment Option ARM Mortgages.
2. What are the major risks of specialty mortgages?
3. Who is best suited for a specialty mortgage?
4. Helpful steps to take before financing a home
5. Seven questions to consider before considering a specialty mortgage

Other helpful websites to visit for basic finance are:

• http://www.mymoney.gov/
• http://www.fdic.gov/consumers/consumer/moneysmart/mscbi/mscbi.html
• http://www.freddiemac.com/creditsmart
• http://www.credit-power.org/
• http://www.realtor.org/gapublic.nsf/files/FCRABroch.pdf/$FILE/FCRABroch.pdf

For Home Finance:

• http://www.hud.gov/buying/index.cfm
• http://www.homebuyingguide.org/
• http://www.federalreserve.gov/pubs/mortgage/mortb_1.htm

Call us at 207-784-2525 for your free copy or email me at mike@meservier.com

Go to meservier.com for Maine Real Estate information or visit MaineMLS.info to search for over 25,000 Maine properties for sale.

According to this NAR brochure, Do you homework first! The National Association of REALTORS has provided this wonderful resource on “How to Avoid Predatory Lending” and use it to help prospective homeowners avoid unfair lending practices.

Useful topics include:

1. Beware of predatory loans
2. What are some of the problems connected with predatory lending?
3. Shop for the lowest-cost loan
4. If the loan is an adjustable rate mortgage (ARM), ask these 10 questions
5. Other solutions REALTORS and home buyers can use to avoid predatory lenders
6. Possible warning signs of a predatory loan

This brochure is available to you by calling Michael Meservier at 207-784-2525 or by email at mike@meservier.com.

visit Meservier & Associates to see information for buyers and sellers alike. Search over 25,000 Maine properties at http://www.mainemls.info/.

The brochure, “How to Avoid Foreclosure and Keep Your Home,” provides outstanding information for existing homeowners who may not be able to afford their current mortgage, including phone numbers, counseling services and just plain good advice. This brochure is available by contacting us through our website, Meservier & Associates, email mike@meservier.com or by calling 207-784-2525. We understand Maine’s Real Estate market and how some homeowners may be having difficulty paying their mortgage.

Some of the areas covered in the brochure are:

1. You’re not alone if you’re having trouble paying your mortgage
2. Mortgages with “Payment Shock”
3. How Realtors can help
4. Talk with your lender
5. What if the value if your property is less than what you owe?

And finally, Quick references for Consumers. This is a valuable resource is brought to you by the National Association of Realtors and is yours for the asking.

Go to meservier.com to search for over 25,000 Maine properties or visit MaineMLS.info.