Mortgage Loan Outlet tracks the good and the bad news as the home loan defaults continue to soar in 2008. The Prime Lending Network can offer you great rate mortgage loans with options for fixed rate or interest only mortgages. MLO has many home mortgage options and can help you find the right financing for your individual needs. We continue to see low interest rates in the marketplace and these rates are not guaranteed unless you lock in now.
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500,000 Home Loan Foreclosures so far 2008:

The Mortgage Loan Outlet remains steadfast in delivering homeowners the latest financing and housing news.

According to Amy McAlister, almost a half-million Americans lost their homes to foreclosure in the first half of the year, nearly double the same time a year ago. According to Foreclosures.com , that equates to 6 out of every 1,000 households nationally repossessed by the mortgagor following foreclosure so far in 2008, "If the trend continues, we could see one million properties lost to foreclosure across the country by year-end," says Alexis McGee, expert, educator, and president of Foreclosures.com.

Home Mortgage Loans Are More Difficult to Qualify for - Homeowners continue to complain about the lack of mortgage refinancing options as their adjustable rate payments continue to rise.

Home loan defaults filings for June indicated 87,465 new foreclosure filings which rose up 5.35% over May and up 15.8 % quarter over quarter, McGee said. Not surprisingly, bank owned properties have been increasing faster in states like California, Florida and Arizona; California on its own is reporting 116,857 REO properties come online this year, representing 10.2 of every 1,000 households in the state. According to statistics provided by Foreclosures.com, Notice of Default filings have already surpassed the one million mark in the first half of the year, with 1,060,187 filings as of June 30, which is nearly twice as much as the 558,178 recorded at the same time last year. Considering from another perspective, more than 14 of every 1,000 households nationally have received Notice of Defaults this year, up more than 87% from the previous year.

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Terms offered: 15,20, 30, 40 50 Year Fixed

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Terms offered: 2/28, 3/1, 5/1, 7/1, 10/1
Available Index: LIBOR, MTA, COFI, CODI, COSI

Freddie Mac's weekly survey of mortgage rates released last week showed that interest rates were volatile with slight hikes reported from many lenders.

In 2008, mortgage rates for 30-year mortgages rose above 6%.

Refinance or take out a Home Improvement loan and make those cosmetic changes that you've been talking about. In most cases, making home improvements increases the value of your property.

Is your credit card debt getting out of hand? We have debt consolidation mortgage loans that can help reduce the burden of variable rate debt.

Do you have Less-than-perfect credit? - We specialize in debt consolidation loans even if your credit is in "the rebuilding phase".

Bankruptcy or Foreclosure - Even if you've had a bankruptcy, or foreclosure in the past, we will do our best to get you qualified for a debt consolidation loan.

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