Zillow Boise Offers Loan Modifications For Home Equity Loans
Zillow is a home loan mortgage lender that offers several products to homeowners looking to finance a downsize. The products range from traditional fixed rate mortgages to interest only and balloon adjustable rate mortgages. Interest only mortgages are an option for those who do not want to pay monthly principal and interest on a loan while reducing their principle. This allows them to free up more money to use towards other ventures.
Zillow also has a number of subprime lending programs to help borrowers who have less than perfect credit. A subprime loan is a loan that is backed by real estate. Zillow does not actually finance the loans but acts as an introducer between the lender and the borrower. They will often have relationships with subprime lenders and can guide their clients to these lenders. With so much money invested in real estate it makes sense that many real estate developers and builders will work with Zillow.
When a home is bought, it is often financed with a large loan which secures the purchase. Once the loan has been paid off the home owner will own the home free and clear. There are different ways that home owners can sell their homes. With Zillow there are several ways to sell the home and recoup some of the investment made.
The first method that Zillow offers is known as lease with an option to buy. The home owner signs a contract to let Zillow buy the home for a certain period of time. During this time Zillow holds the deed to the home and the option to purchase stays in effect. At the end of the contract the buyer has the option to buy the home back from Zillow at a price that is above what the loan amount was for. This allows the investor to recoup the money from the home’s appreciation.
Another way to make money with Zillow is through the equity loan. This works the same as the lease with option to buy only this time the home is used as collateral. The monthly payments that go into the home equity loan are determined by the value of the home and the interest rate. Interest rates are at record lows right now. This is one way that Zillow allows you to receive money even when your financial situation may not be good.
Many people do not realize that there is more to real estate than just selling a home. You have to invest in it so it will sell. Zillow has a Loan Modification Program to help homeowners with adjustable rate mortgages. Adjustable rate mortgages come with a fixed interest rate and vary with changes in market conditions. This makes it difficult to know what your future mortgage rate will be.
In today’s real estate market everyone is facing economic hardships. It is vital to make sure that you have the right type of loan so that you do not become financially devastated. If you have been a good tenant with your lender, then there should be no reason why they should foreclose on you. Do not put your entire property at risk just to receive a loan modification from your lender. It is better to get a loan now and keep up with the payments than to lose everything because you were unable to pay for your house.
Zillow does not recommend or guarantee the lenders that they list on their site. They simply provide a service that is free to use by lenders and home buyers to find their best real estate deals. If you have been affected by the housing crisis, have poor credit, or are in the process of foreclosure you will benefit from applying for a loan Modification with Zillow. The government is stepping up to offer programs for foreclosures and home equity loans. There is no need to lose your home or struggle financially over an affordable payment.