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Mortgage & Finance

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

Buying a Home? Mortgage Standards You’ll Need to Consider

By | May 6th, 2013|

A major cause of the housing crash in 2006 and 2007 was poorly documented mortgages that should not have been approved. Many of these mortgages ended in default and contributed to the four million foreclosures that cost families their homes and lowered home values by 50 percent or more in some communities. Mortgage lenders that [...]

Lowest Mortgage Rates In History | Think Glink

By | May 4th, 2013|

Ilyce Glink talks about how we have the lowest mortgage rates in history and what this means for the economy. It’s difficult to believe that mortgage interest rates are now officially at the lowest point in history. Or, at least history as defined by the Freddie Mac, which has been keeping track of 15-year fixed [...]

Missed a Mortgage Payment? How it Affects Your Credit Score

By | May 4th, 2013|

If you missed a mortgage payment, you might want to know how it affects your credit score. Missing mortgage payments can hurt your credit score. Q: I met Ilyce at a speech she was giving last year about financial planning and retirement. Last week, I was laid off by the company that sponsored the speech. [...]

Loan Modification Process | What to Do if You’re Rejected

By | May 3rd, 2013|

The loan modification process can be very frustrating. If your loan modification is rejected, consider selling your house in a short sale. Q: We are currently underwater on our primary home mortgage. Our mortgage has been modified twice and all payments were added to the back of mortgage. Our loan was once $216,000 and the [...]

Prepayment Penalty | Do Lenders Allow Mortgage Prepayment?

By | April 27th, 2013|

Wondering if your lender allows mortgage prepayment? Most lenders today have stopped carrying out mortgage prepayment penalties. Q: You recently answered a question about a rental property owner deciding whether to refinance into a 15-year vs. a 30-year loan. I bought my house in 1976 for $70,000 with a 30-year loan where the mortgage payment [...]

What Documents Do I Get After Paying Off My Mortgage?

By | April 26th, 2013|

What documents do I get after paying off my mortgage? These are the documents you should receive from your lender after paying off your mortgage. Q: My husband and I love to read your articles in the Home section of our local paper. We are close to paying off our home mortgage and would like [...]

If a Neighbor Damages Your Condo, Who Makes the Insurance Claim?

By | April 22nd, 2013|

You open the door to your condominium after a long day of work, but before you settle in for the night, you notice water dripping from the ceiling and a large discolored spot on your living room carpet. It appears as if a toilet or bathtub belonging to your upstairs neighbor has overflowed, causing damage [...]

Underwater Mortgage Options: What to Do When You Can’t Refinance

By | April 20th, 2013|

Want to know your options for an underwater mortgage refinance? Here's what to do when you can't refinance your underwater mortgage. Q: I built my home in 2006 for $750,000. I have a loan with a balance of about $525,000 and an interest rate of 6.625 percent. I have been trying to refinance my mortgage [...]

Mortgage Loan Assumption | Breaking Up Mortgage After Divorce

By | April 20th, 2013|

When going through a divorce and breaking up your mortgage, a mortgage loan assumption might be an option that could help. Q: I read your recent column in my local paper titled “Giving up interest does not free you from mortgage obligation.” The ex-wife was willing to give up her claim on the home to [...]

Reserve Funds for Condos | What Are the Requirements?

By | April 19th, 2013|

Reserve funds for condos: what are the requirements? Mortgage lenders pay closer attention to reserve funds for condos as requirements have increased. Q: In trying to sell a condominium, the buyer was denied a loan due to the fact the condo/management association did not transfer 10 percent into the reserve fund. What are the requirements [...]

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