Most people talk about mortgages as if they know all about them, but to many folks the whole subject is one of bafflement and mystery. If you know little or nothing about mortgages, this article might help.
A mortgage is a large loan for buying property. Unlike other loans, mortgage money cannot be spent on anything, but property. You can have a mortgage to buy your first home, a second Continue reading “Brief Mortgage Guide for the Baffled”
Because they were so readily available many people opted to purchase their new home with a sub prime mortgage. At the time nobody thought that a bad credit house loan would lead to all the problems we are seeing in today’s market.
The problem with bad credit mortgages start when the borrowers, many of whom have not improved their credit scores try to refinance. At this point they learn that Continue reading “Can’t Refinance a Bad Credit House Loan – What You Can Do to Save Your Home”
Why choose The One Account?
Simply put – it saves you money! The One Account is a sensible way of keeping all your money in one place. This means that your mortgage, your current account, and any borrowing you have can all be on the same account. Any money that you do have in the account will be used against the interest on your mortgage, the idea being that you should be able to repay it much more quickly Continue reading “Review of The One Account Mortgages”
A mortgage is usually the biggest purchase that an individual makes, and because of that, many people tend to get nervous during the process. But wouldn’t it make things easier if you felt that you had a “handle” on the process–or at least the terminology? After all, in order to get the best deal on your mortgage loan, you will need to understand certain things such as points, interest Continue reading “Mortgage Information – Refinancing? Second Mortgage? Home Equity Loan? Understand The Basics”
Your Real Estate Profits
The first thing to figure out is how much you can sell your property for.
If you sell it through a real estate agent you will also need to agree on a commission rate. This can be sliding commission rate based on the sale price of the property, or a straight percentage. This is up to you.
When you do have an offer from a buyer you will need to decide if you are willing Continue reading “Selling Your Property: How Much Money Will You Make?”
Just because you have negative items on your credit report doesn’t mean you can’t obtain a home mortgage loan. There are options for you. Bad credit is not the end of the world. It’s true that getting a bad credit mortgage loan is not always the easiest or fastest mortgage loan out there, but you can still buy your own home even with bad credit.
Bad credit shouldn’t stop you from getting a home loan. Continue reading “Home Loans for Credit Challenged Borrowers”
Lately, reverse mortgages have been getting some negative media attention. This is because, as of last year, around 30,000 of these loans have fallen into default. This means that around 5% of borrowers are at risk of losing their homes unless they can get their loans back into good standing. While the number of actual foreclosures is unknown–and likely very small–, this threat Continue reading “Are Seniors Getting the Right Reverse Mortgage Information?”
The homeowners who are falling behind in their mortgage payments or are finding it difficult to cope up with the heavy rate of interest on their monthly installments, contact your lender and tell him about your situation and problems openly. You will get assistance from him and if there are chances of foreclosure, both of you can workout a solution for it so that your house is saved and he too gets Continue reading “Mortgage Loan Modifications – Negotiate With Your Lender to Get the Best Deal”
So, you are a mortgage loan originator (MLO) and now you need to comply with a new federal law in order to stay compliant with the mortgage industry – the Secure and Fair Enforcement Mortgage Licensing Act (S. A.F. E.). This new law implies meeting certain requirements, like national and state licensing exams. And if you conduct MLO activity for multiple states, which is more likely Continue reading “SAFE Mortgage Exam – Three Helpful Preparation Tips”
Perhaps you’ve heard of it, not many people have. The Mortgage Forgiveness Debt Relief Act allows taxpayers to eliminate up to $2 million of mortgage debt on their principal residence in 2007, 2008 or 2009.
Understanding Mortgage Forgiveness
Mortgage forgiveness is a familiar term in the real estate market. When a lender will accept less than the full amount of the debt, in full payment Continue reading “Understanding the Mortgage Forgiveness Act”