Official Fulton County Website - Fulton County, Georgia
Monday, January 05, 2009
 
 
   
  2005 Homeowner & Preservation Symposium/Expo
Event Date: October 22, 2005
 
   
 

Bank of America
Chase
Citigroup
Freddie Mac
Homecomings Financial
Opteum Financial Services
Unity Mortgage
Wachovia
Washington Mutual
Wells Fargo

 
 
Co sponsors
Fulton Co Gov. | U.S. Dept. of Housing and Urban Development | Ga Dept of Banking & Finance |
Ga Dept. of Community Affairs | Federal Reserve Bank of Atlanta | Freddie Mac | Community Housing Development Corp of Fulton Co.
 
 
  General Session Program
Saturday, October 22, 2005
   
   
  Click Here to Register for FREE Classes
   
 

Room B302-303: What does a 620 credit score mean?

You’ve seen the television ads that imply you can’t get a home loan if your score is less than 620?  This session tells you how a credit score is determined. What makes up a credit score, the things that impact a score for good or bad? This session introduces what is a credit score and how creditors and mortgage lenders used your credit report to determine what type of loan(s) offered to you. In addition, what steps to take control of your credit? 

You’ll learn about:

  • The existence of credit reports and credit scoring
  • How to understand your credit report
  • What is  a good, fair, bad and ugly credit score
  • How to improve your credit
  • How to order a credit report
  • How will late payments affect my credit
  • How to correct errors in your credit report
   
   
  Room B304 - 305: Understanding Your Legal Documents

When it comes to obtaining a mortgage whether it’s a home equity line loan, or refinancing, 95% of consumers don’t understand their closing documents especially reading the “fine print”.   Do you really need to read everything before signing? Are you signing your life away without knowing what you are getting?  This session will examine the Truth-In-Lending, HUD-1, Settlement Statement, Good Faith Estimate, and Legal Description. 

You’ll learn:

  • Identifying items on the various closing documents
  • Do you need a lawyer
  • Where can I get help with understanding my legal documents
  • Basic clauses or common language used in legal documents for mortgage transactions
   
   
   
  Room B302 - 303: Loss Mitigation - Remedies to foreclosures

Has the American Dream of homeownership turned into a nightmare?  Are you experiencing serious mortgage payment delinquency or facing foreclosure?  This course will explain various options that may allow you to keep your home.

You will learn about:

  • Options available to help you keep your home, i.e., loan modification, partial claim, forbearance, etc.
  • Options available if you no longer can keep your home, i.e. deed in lieu or pre-foreclosure sale
   
   
  Room B304 - 305: Types of Mortgage Products on the Market
(How many cereal boxes are there? 450+)

How do you choose the best mortgage product for you?  Why can’t your loan office just pick a product for you?  What makes one product better than another?  Each lender has a menu of mortgage products.   Some lenders have over 400 different products and programs. Some of them can be combined to provide even more choices.  With so many choices how will you know which mortgage product has the vitamins and minerals that YOU need?  This session will help you understand mortgage product options and how to make an intelligent choice about the best product for you.

You will learn about:

  • Fixed rate products versus variable rate products
  • Various mortgage product types
  • Sub prime versus prime loans
   
   
  Room B302 - 303: Can You Speak Mortgage?
(Understanding Acronyms and definitions of mortgage terms)

This session will introduce acronyms and definitions of mortgage terms commonly used in the housing industry.  These acronyms and definitions are vital for homeowners to understand mortgage transactions.

You’ll learn:

  • Acronyms and basic mortgage terminology and definitions 
  • The difference between interest rate and APR
  • What do a lender means by charging “points”
  • What is earnest money, origination fees, prepayment penalty?
  • What is LTV ratio, PITI, and DTI ratio
   
   
  Room B304 - 305: Financial Planning and Debt Management

Collectors calling?  Robbing Peter to pay Paul?  It is never too late to begin financial planning to manage your debt.  This session will discuss financial planning as a guide to simple debt management.

You will learn about:

  • Why making a minimum monthly payment never reduces my credit card balance
  • When should you make extra payments to principle
  • How to establish a budget and stick with it
  • Unsecured versus secured credit
  • When Saving vs. debt reduction
  • Asset Building and retirement
   
  Click Here to Register for FREE Classes
   
 
 
 
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