River Valley Bancorp. Reports Operating Results (10-Q) GuruFocus.com
River Valley Bancorp. has a market cap of $24.51 million; its shares were traded at around $16.19 with a P/E ratio of 12.65 and P/S ratio of 1.09. The dividend yield of River Valley Bancorp. stocks is 5.19%. River Valley Bancorp. had an annual average earning growth of 3.3% over the past 10 years.Highlight of Business Operations:
At June 30, 2011, the Corporation s consolidated assets totaled $399.9 million, an increase of $13.3 million, or 3.4%, from December 31, 2010. The change in assets was driven by a $5.8 million decrease in loan receivables, including loans held for sale, as the difficult lending environment continued to affect loan production and $2.5 million of real estate collateral for non-performing loans was foreclosed upon and transferred to real estate held for sale. Countering the decrease in the loan portfolio was growth in available-for-sale investments, with investments held by the Corporation increasing $15.1 million, period to period, an overall increase of 20.0% from $75.2 million at December 31, 2010 to $90.3 million as of June 30, 2011. A portion of this increase in investments was attributable to mark-to-market changes on available-for-sale securities, with the unrealized gain on the Corporation s portfolio increasing from $695,000 at December 31, 2010 to $2.1 million at June 30, 2011. Over the period, the Corporation increased borrowings with the Federal Home Loan Bank of Indianapolis (FHLB) by $2.0 million and restructured a group of advances totaling $10.0 million, taking advantage of lower borrowing costs to lock in advances over a range of terms. The FHLB is the Corporation s primary source of wholesale funding. The rates on advances from the FHLB decreased 32 basis points across the period, from 3.84% as of December 31, 2010 to 3.52% as of June 30, 2011. Total deposits increased $9.7 million from December 31, 2010 to June 30, 2011, with the majority of the increase in interest-bearing deposits. Other significant changes during the period included $270,000 received from the FHLB for a repurchase of FHLB stock and a decrease in prepaid balances, primarily the prepaid FDIC assessment which decreased $227,000 over the period.
Refinance Your Home Loan to Build a Better Future
For many people who are behind in trying to responsibly pay back their home loan, the opportunity to refinance is sometimes the only one left to avoid foreclosure. However, those with bad credit often find that getting the refinancing help that they need is difficult or impossible. However, there are specialized private lenders who work with bad credit refinance loans every day. By knowing where and how to contact these lenders and getting the right information in order, you can refinance your mortgage despite bad credit.
Home Loan Refinancing: A Definition One problem that many borrowers face is their uncertainty about the refinance process in the first place. By understanding what this means and how it can help you, the process to getting your mortgage refinance is much simpler. geld lenen
To put it simply, when you initially bought your home you took out a home mortgage loan that helped you to pay for it. Over time, you have been repaying that loan. However, if you have fallen behind on your payments, lost your job, or seen your interest rate skyrocket, what you were once able to do easily is now impossible. In addition, your credit score has gone down because of your struggle repaying your home loan, leading to bad credit.
Home loan refinancing offers you the opportunity to find another lender who will pay off your initial mortgage loan. You will then continue to make monthly payments to this new lender, but may see those payments go down because the interest rate is lower, the term is longer and the principle amount is lower as well. These changes can give you the much needed relief necessary to get back on track with your home loan payments and avoid bankruptcy and/or foreclosure.
Finding the Refinance Loan You Need These days, the internet is the best place to shop for any type of loan, including a mortgage refinance loan. There are also many brokers who work online who can represent your interest to a variety of companies and try to find you the best deal. It is important that you be straightforward about your bad credit when contacting lenders or brokers, however. The more honest you can be upfront, the more likely you are to find someone to work with you. lenen
...Refinance Help. Fill this form and get help!
Short Sale, Bankruptcy, Foreclosure and Home Loans
Rob Spinosa of www.themortgagedictionary.com explains the waiting periods required for home loan approval AFTER a bankruptcy, short sale or ...
Are there loan companies that will refinance your home while in bankruptcy?
Anything is possible but I would bet the company is going to want either court or trustee approval, which you are going to need anyway to take on more debt. Otherwise, mortgage lenders are going to want the bankruptcy discharged.
Don't even think about trying to get a loan without at least trustee approval or lying on a mortgage application because that will land you in trouble.
I just filed for bankruptcy. My 2nd home loan will mature in March. Obviously, I won't be able to refinance.
Do you think Wells Fargo will give me other options if I can't pay them by March, other than foreclosure? I called them but said that they can't give me such options until my bankruptcy gets discharged.
You don't give much information, but I'm assuming you have filed a chapter 7...are you re-affirming on the house and going to continue with the payments. That may be the reason you can't do anything until it's discharged. You really need to ask your attorney, may be something that they can do for you seeing they are handling your bankruptcy. I would want an attorney to be involved seeing you have filed. If it's included in the bankruptcy, you may be able to do something that they can advise you about.
Good Luck!
Is it possible to receive a $50,000 home loan when you have a bankruptcy only 6 mths old?
The loan is for a home purchase not refinance or fix up.
Need more information in order to give you an accurate answer. It will depend on numerous factors:
- Chapter 7 or 13?
- 6 months since filing or since discharge?
- Your credit score (even though it will be low bc of the BK you still have to have a credit score high enough to qualify for a loan)
- The amount of down payment you are putting down?
Best is to talk to a mortgage broker.
if you refinance your home is that also considered bankruptcy?
I am am separated from my husband and he refinance our home in which I just found out because I was trying to get a loan from H & R block -which was denied because of bankruptcy*
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http://www.worldbestloans.com/Mortgage%20Loan.htm
A fixed rate mortgage loan has its own benefit. If the borrower is budget conscious, he will remain at peace because the monthly mortgage amount will not change.Fixed rate mortgage loan is a loan where the interest rate remains the same through the term of the loan. Fixed rate mortgage loans are the most traditional form of loan.
How long after bankruptcy shall I wait to apply to refinance my mortgage?
I filed for bankruptcy in 2004 and I have been paying on it for so long now that I have a chance to pay it on out. I have about a year left to go if I don't pay it on out. I want to refinance my house. If I pay my bankruptcy and my case is discharged, how long shall I wait before applying for a loan to refinance my home?
You can refi once it has been discharged since you are more than 24 months out from your filing date. You will need proof that the BK has been discharged. Once you have this, you can get what is called an Expanded Approval Loan. Lots of the big mortgage company's offer this product (Countrywide, Beneficial, GMAC...). A lot of whether you qualify for this loan will depend on whether or not you have had any deliquency or derogatory credit since your filing date. If you have paid everything on time since 04, the you are probably good to refi as soon as you get the discharge papers. If you have had credit issues since then, the it will probably take an additional 12-24 months after discharge to get a refi.
Good Luck!
http://best-loans.awardspace.com/Bankruptcy.htm
In fact one of the best ways to improve your credit rating is to refinance your home mortgage, this-->will help to improve your credit history in a number of different ways.
How can I get a small, cash loan 1 year after a bankruptcy?
My husband and I have always had perfect credit until a business failure 2 years ago. We had to file for bankruptcy (it was discharged 1 year ago). Does anyone have names of reputable lenders willing to do a small loan -- maybe $2,500? We have been almost a month behind on our mortgage for a year now and I can't seem to catch up. Also, part of the $$ would be for a down payment on a car. We would try to refinance or get a home equity loan but due to the fact that it is a manufactured home (on 5 acres) lenders seem to turn up their noses on us -- especially since our credit ratings have suffered due to the BK, etc. Any suggestions?? Thanks - linbad
There is some good info here.
I have a mortgage loan with American Home Mortgage that filed bankruptcy sometime last year? What should I do?
I have a 3-year ARM but terms of it is about expire before the 3 years. I want to refinance. Will the new law that recently passed help me?
The new law will have no effect on your situation. (Unless, that is, you're among the relatively few who need help and will qualify.)
Some lender--I don't know which one--now owns your loan. You'll just keep paying as you always have. And if you want to refinance, check with your current lender or any of the others out there.
However, since you bought your home 2-2-1/2 years ago, you're likely to find that its value has fallen, not risen. As a result, you may have a very difficult time refinancing. There may not be enough equity for you to do so.
Good luck.
They are not originating new loans so you can refinance with another bank, just not them.
I just inherited a home, but the mortgage company won't let me switch the loan to my name?
They said I have to refinance to get the loan placed into my name. Unfortunately at this time I also got laid off from work. I have a nice savings, large severance package & I'm about to apply for unemployment. I'm also rebuilding my credit(Bankruptcy 9 yrs ago) so I'm afraid of getting denied for the refinance & thus losing the home. Should I just continue to pay the current mortgage then do the refinance once my Bankruptcy comes off my credit report in 10 months. Also how do I change the deed to my name.
The reason they won't just change the name on the loan is tht you didn't sign the promsissory note for the loan.
You can change the name on the deed with a copy of the death certificaate and proff that you are the heir to the home but if the lender gets notice of the name change ( some get automatic notices of name changes on the loans they hold) they may invoke the "Due on Sale" cluse in the deed of trust.
You are better off living in the home, making the payments, and refinancing as soon as you get a job. The bankruptcy doesn't have to be deleted from your credit report in order for you to qulaify, That will depend on your credit score.
You can check that by going to annualcreditreport.com for a free report. This is the Government site that allows you one free check per year with no strings attached.
bankruptcy (to keep home) or hang tough?
My ex skipped Texas to somewhere up north last month; no more child support and he was already behind on that. The AG is looking for him.
Anyhow--this has left me to survive on my f/t slary alone, just enough to pay the basic nessities: home, Home improvement loan we lad gotten together which HAS to be paid or they'll take the house; 2001 car and car ins. This leaves me about $99 for utilities, gas, food, and medicine for a family of 4. My credit was shot to hell because he also left me with all the cc bills. So I am always turned down for refinancing/loans. Since my credit is already shot to hell, is it better to just wait things out until I get another better job with pay (i work shiftwork as it is) and I AM looking; or should I get a legal aid attny to help with bankruptcy so I keep my home? It it a modest hom, worth 67,000, but the Home Impro loan kicks up the cost big time. I owe $33,000 on my home and $35,000 on that loan! P/T jobs do not accept my avail hrs and only pay $7. hr-
I have spoken to Consumer Credit and they advised me to file bankruptcy and keep the house, as I checked into renting and here it is more $ than buying a house; or to hang tough and pay the essentials, which is what I have been doing. Either way, I will have bad credit for the next 4-7 yrs. I was just wondering if filing and keeping my home would be better for my credit than bad credit in pieces and parts.
thank all of you for your input; in the meantime still looking for a p/t job. I tried a bunch of places for loans but even the PAyday loans and the LAON SHARKS turned me down! God will provide.
Bankruptcy will keep your home but then you are tied down to bankruptcy for the next 7 to 10 years. I did just that and it was a nightmare. I dismissed my own bankruptcy and have negotiated with all the creditors and the mortgage company myself. In the meantime after studying all the creditor laws I became a debt settlement negotiator. I just wanted to help people like you from the horror of the creditor world. There is many ways around what you are going through. I am also a Texan and this is one state they cannot do to much to damage to you," just your credit." If it is already damaged there is only one way to go. Better it. It takes time but it can be done. I wish I could give you my contact info but I am not sure if that is OK with Yahoo. I will check into that. Hope this helps. Just be careful there are many debt settlement companies out there that will take you down. They are just out to make money not to really help people, in need of help. God Bless and let the lord lead you in the right directions. My website is www.debtsettlementspecialistsllp.com you can contact me through the website. I possible can come up with some work you can do from home in your free time for extra income if you have a phone and a computer.
A credit card company put a lien on my home even after bankruptcy wiped out the debt.?
I filed chapter 7 bankruptcy to get out from under several credit card debts including citibank. They are listed in my bankruptcy and they are also listed on my credit report has being satisfied by a bankruptcy. But when I refinanced my home, the title search came up with a huge(twice the original amount) lien on my home by citibank. My attorney said this was an oversight and it had no merit so he wrote a letter to the title insurance company and they were happy. But now, 2 years later, the same situation is up again while I'm trying to get a home equity loan. This needs to stop! What can I do?
Send a etter to citibank demanding they remove it. Mention the Fair Credit Reporting Act and contact the title company as well. Send them proof (copies) of your discharge.