Most of the recent problems in helping people with a mortgage are centered on values. So if you are wondering what your house is worth visit this website for a general idea of the value of your property. http://realestate.yahoo.com/Homevalues
There are 4 basic pillars of obtaining a mortgage
1. Value - Expressed as Loan-To-Value(LTV) - your total mortgages compared to the value of your property.
2. Credit - Expressed by a score provided by the three credit bureaus.
3. Income - Expressed as Debt-To-Income(DTI) - your total gross wages compared to total household debt.
4. Assets - your total liquid cash - bank accounts, 401K, investments, etc.
Most people that I talk to recently, have good credit and decent income but their value does not allow a new mortgage at this time. So visit the website listed above to get a good idea of your homes value - but remember, only an appraisal will give your homes true value.
Rich
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Most of the recent problems in helping people with a mortgage are centered on values imp source
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