FLORIDA KNOWLEDGE CENTER

Many people ask what the difference between a Chapter 7 Bankruptcy and a Chapter 13 Bankruptcy are everyday as there is confusion between the two different types of bankruptcy. How do the new bankruptcy laws effect which type of bankruptcy that you are permitted to file? What is the difference between a Chapter 7 and a Chapter 13 Bankruptcy? All of these questions and more will be answered if you read throughout this page. A Chapter 7 Bankruptcy is simply a bankruptcy were you are wiping away all of your in exchange for your non-exempt property. A Chapter 13 Bankruptcy is when you set up a repayment plan with the trustee that is acceptable to yourself, the courts and the creditors and you do not have surrender any of your property. The repayment plan on a Chapter 13 Bankruptcy is normally 30-60 months.

The federal government passed a law recently that makes it hard for just anyone to file a chapter 7. To file a chapter 7 you will have to pass a bankruptcy means test to qualify for a chapter 7. If you do not qualify for a chapter 7 you will have to file a chapter 13. If however you are a Wisconsin resident you may file a chapter 128, a chapter 128 is not a bankruptcy but allows you to pay your creditors back with no interest within 36 months.

If you are filing a another Chapter 7 bankruptcy, you have to wait more than 8 years since the discharge of your previous chapter 7 bankruptcy.

Florida Mortgage Rates

Getting the right Florida Mortgage Program and Rate is probably the most important part of choosing your Florida Mortgage Loan. Having the best Florida Mortgage Rates will save you thousands of dollars through out the course of the mortgage Loan.

At American Mortgage Rates, we strive on finding the best Florida Mortgage Program and Rate possible for you, the client! Our Licensed Florida mortgage brokers constantly educate them selves on the latest and best Florida mortgage programs to better serve you. There are many different loan programs to choose from which all have different Florida Mortgage Program and Rate, so by staying educated in this area allows us to find you the best Florida Mortgage Program and Rate possible.

Fortunately, due to our production in the mortgage industry we have been able to meet certain standards with our lenders and banks. These standards allow us to pass additional savings to you the client because of our preferred pricing on our Florida Mortgage Program and Rate. Your Florida mortgage broker should go over all the possible Florida Mortgage Program and Rate when choosing your Florida Mortgage.

When inquiring about a Florida Mortgage to your Florida Mortgage broker, be sure to ask about what kind of pre-payment penalty that is associated with that particular Florida Mortgage Program and Rate, some Florida Mortgage Program and Rate have no pre-payment penalty where some have very high penalties. This is something your Florida Mortgage broker should go over with you when choosing the best Florida Mortgage Program and Rate for you.

Feel free to call or inquire over the web about today's Florida Mortgage Program and Rate, we will be happy to quote today's best Florida Mortgage Program and Rate that we have available to us.

Since we work with many Lenders we get the best Florida Mortgage Program and Rate available where when dealing with one particular bank they are limited to there own loan products where they might not have the best available Florida Mortgage Program and Rate that day, when banks compete with each you the savvy mortgage shopper could take advantage of this by working with a real good Florida Mortgage Broker who is up on the Florida Mortgage Program and Rate.

A fixed rate mortgage is a mortgage that has a fixed interest rate for the term of the fixed rate mortgage term. This means your principal and interest payment will not change for the entire term of the loan until it is paid off. A 30 year fixed rate mortgage means that you mortgage is fixed for 30 years. A 15 year fixed means the same that your payment will not change for 15 years and then your mortgage will be paid off.

An Adjustable rate mortgage is a mortgage that has an adjustable interest rate for the term of the mortgage. This means your principal and interest payment will change for the entire term of the loan until it is paid off. Adjustable mortgages can adjust monthly, yearly, or sometimes mat be fixed for 2, 3, 5, 7 and 10 years and then start to adjust more often.

For more information about our many loan programs and Florida Mortgage Program and Rate please call us at 954-475-8787 or fill out our short mortgage form.

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