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Mortgage

A mortgage, or a home loan, can come in many different forms. A 30-year fixed rate, a 15-year fixed rate, an adjustable rate mortgage, a jumbo loan. And what about prepayment or foreclosure? The articles, blog posts, videos and radio shows on this page will answer all your mortgage questions and help you find the right mortgage for you.

You need to consider the fees and closing costs that you may be charged in obtaining a mortgage, the length of the loan and the amount of the loan. In addition, while the interest rate you obtain is quite important, you need to understand all of the other issues involved in obtaining a mortgage loan for your home or investment property.

Take a look at our hundreds of articles on our site. Some of these articles are listed below. These articles relate to obtaining a mortgage, finding a low interest mortgage loan, the difference between a fixed rate or ARM loan, whether to pay points to buy down your interest rate, and avoiding prepayment penal

Concealing Information Leads To Illegal Lending

By | June 6th, 2006|

A real estate investor wants to know if an unusual deal where he is willing to pay more than the asking price is considered illegal lending activity. The buyer is wondering if paying the seller outside of the stated deal with the mortgage company and not informing the lender is illegal. A buyer and a seller can agree to one price in a contract and agree that the seller will credit or pay the buyer money back at settlement. However, some people might suggest this transaction is illegal because you have a lender involved.

Invest Or Pay Off Mortgage?

By | June 5th, 2006|

If you have the extra money, is it better to invest it or pay off your mortgage? The decision depends on where the money will go if you want to invest it.

Refund Of Money Held In Escrow

By | May 16th, 2006|

Many homeowners pay money into escrow for their taxes and home owner's insurance. When the borrower pays off the loan in full, the borrower is entitled to a refund of all money held by the lender for both the real estate taxes and insurance premiums. Generally, Federal regulations require lenders to return the funds within a month or two.

Inappropriate Questions On Mortgage Application

By | May 8th, 2006|

Does pregnancy factor into a mortgage lender's considerations when making loan decisions? Such a question would be inappropriate for a mortgage lender to ask when applying for a loan. Your mortgage loan application should only require questions that affect your credit.

Concern About Stated Income Mortgage Loans

By | April 18th, 2006|

A lender touches base with Ilyce about loan options for people with a high debt-to-income ratio. Asset/Stated Income products can help, but be very careful about predatory lenders.

Mortgage Lender Misrepresents Mortgage Loan

By | April 18th, 2006|

When you get an FHA mortgage loan you get an FHA number. But is an FHA number enough to prove that you have an FHA mortgage? What if your mortgage lender has you pay FHA mortgage fees but you later discover you don't have an FHA mortgage loan?

How To Pay Off A Mortgage

By | March 28th, 2006|

A homeowner is ready to pay off their mortgage, which is held by a private individual. When you are certain you've paid off your mortgage, you'll need to contact the lender and confirm that the mortgage is paid off. The lender will need to return the original note and mortgage to the owner upon its payoff.

Reserve Cash With Interest Only Loans

By | January 2nd, 2006|

A home buyer is considering an interest-only loan. Interest-only loans are best if you are trying to conserve cash. You can use the cash for a home improvement project, if you're not going to be in the home for a long period of time, or if it's an investment property. However, you should not use an interest-only loan to purchase more property than you can afford.

Borrowing More for Less: New Loan Limits for 2006

By | December 5th, 2005|

Now you can get a mortgage for up to $417,000 and still not move into jumbo-loan interest rate territory. While the new conforming loan limits will give buyers of higher-priced homes more low-down payment and low-cost loan options, it won't mean much to those home buyers in the middle of the country where home prices tend to be less.

Interest Only Loan Helps Home Owner Reduce Mortgage Payments And Purchase Property

By | November 7th, 2005|

A home owner would like to know how to reduce monthly mortgage payments to purchase another property. Ilyce discusses the history of the increase of mortgage rates and suggests taking out an interest-only loan to reduce his current mortgage and finance another property. The home owner should talk to several loan officers to determine where to get the best interest only loan and purchase another property.

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