Provident Home Mortgage

By Leonard Gildarie
Last year, after more than 30 articles, I thought I was completed with writing on the problems facing new homeowners. Those articles are up on our website, thank goodness, but we have still been receiving numerous emails and even calls for advice. My fellow journalists have been pestering me, asking for help. I keep telling them the writings were of my own experiences and a little research…that I am no expert… but to no avail.

The problems range from dealing with the NDCs, to approaching the banks, to dealing with errant contractors. I submit.
We will attempt to examine some of these critical issues once again because of their importance – but from different perspectives.
The housing sector continues to spin Guyana’s economy. From the commercial banks and NBS to lawyers, transportation, hardware outlets, block makers, shipping, contractors, the housing drive has been creating employment and for some, tremendous profits.
There are numerous opportunities available for new homeowners with more choices now too.
While making the major decision almost four years ago to find a piece of land at all costs and start building or face the prospects of paying rent for the rest of my life, I had not much choice. I was allocated a plot at La Parfaite Harmonie, a quiet housing scheme north of Canal Number One, West Bank Demerara. It was a tall order to get a mortgage, find a contractor, finish the paperwork and get the building permits. You had to think of the designs and make that budget work. That was probably the toughest. It was a grand, satisfying feeling afterwards.
Fast-forward to today, I see things differently…the gutters need cleaning and you get the little water frog problem on the walls and the neighbour who is building is irritating you with his sand in the middle of the road.
I decided to do a little digging on what has changed in housing in Guyana.
Three or maybe four years ago, it was a tight task to build a home on a $5M budget. You had to sacrifice something, whether it was space or doing without the fence or a particular tile, you were forced to give up something.


Wiley Real Estate Investing For Dummies, 2nd Edition
Book (Wiley)

Mortgage Refinance Closing Costs and Fees

2009-04-16 21:53:58 by beckclap

Hello
I am looking at refinancing my home info is:
San Mateo, California
loan amount 370,000
property value 750,000
15 year fixed conforming
I've owned the home for 5 1/2 years.
the rate I am offered is
4.5% 0 points, 4.7% APR
The mortgage broker gave me a rough estimate of fees, and this is what I am not certain of. Am curious if the amounts listed below seem right.
Mortgage Company: Processing Fee $585.00
Fidelity Title: Estimated of fees $1290

Fannie & Freddie Plan To Aid Mortgage Banks

2009-10-07 19:17:30 by Pelham-Bay

Wed Oct 7, 2009 10:46am EDT
(Reuters) - U.S. government-controlled mortgage finance companies Freddie Mac and Fannie Mae are working on a program to help independent mortgage banks get access to short-term credit needed to make home loans, the Wall Street Journal said, citing people familiar with the matter.
Fannie and Freddie will provide advance commitments for the purchase of home mortgages that meet certain standards, according to the paper.
The program aims to reduce risks that independent mortgage banks face so they can obtain short-term credit, the paper said

Bad servicing...Another mortgage nightmare

2007-06-18 09:33:54 by Lifer29

Yesterday at 08:08 PM
--------------------------------------------------------------------------------
Hello all, i am new and was just surfing here, and want to tell you my story,
i took out a loan on my home in 1997 with ameriquest loan, they sold me to saxon mortgage, i was there for 3 days and then saxon sold me to provident bank in 2001, provident bank fudged my appraisal value to get me hooked into a bigger loan,,,, reluctantly i did it,, then they sold me to litton loan servicing, which is also a joke.
in late 2001 i filed chapter 13(repayment), i did not loose my home, in late 2006 i was contacted by a law firm about a class action suit against provident bank for predatory lending, i joined,, the suit had 193 participants that were scre$%wed over,...

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