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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

Commercial Real Estate Liabilities After A Divorce

By | November 25th, 2008|

When you own commercial real estate with a former spouse and decide to remarry it may require clarifying the assets you hold. To resolve who's liable for paying the mortgages, it may mean signing a quit claim deed or other documents. But before signing anything about your commercial real estate holdings, you should consult with an attorney to understand what you're signing. And before getting married, inquire about a future spouse's financial obligations.

PMI Claims After Foreclosure

By | November 25th, 2008|

A homeowner who went into foreclosure a few years ago is paying a private mortgage insurance (PMI) claim as part of a forbearance agreement with a new lender. Homeowners who purchase property and obtain a loan that exceeds 80 percent of the purchase value must pay for PMI, which protects the lender, not the buyer. The original lender will file a claim with a PMI company and a new lender has the right to collect the full loan amount under a forbearance agreement.

Title Search May Reveal Lien

By | November 21st, 2008|

A divorced woman wants to make sure the property she's buying from her ex-husband does not have any outstanding liens. Liens may include mortgage loans and home equity lines of credit or HELOCs. An attorney can also help sort out whether there are any outstanding liens and ensure that the title is free and clear of liens.

Foreclosure After Contractor Botches Home Remodeling

By | November 21st, 2008|

What can you do when a contractor fails to live up to his contract in a kitchen remodeling project? Hire an attorney to go over the contract with you to understand your rights in this botched remodeling situation. It's especially hard if you later face foreclosure on the same home.

Change Mortgage In Divorce: Quit Claim Deed Won’t Work

By | November 18th, 2008|

When you divorce you may want to remove some of the names on your home's mortgage. You can't remove the name of one of the borrowers on a mortgage loan using a quit claim deed. A quit claim deed can change the names listed on a home's title but not on the mortgage. To change the names on a mortgage loan you have to refinance, sell the home and repay the mortgage loan or pay off the mortgage loan with cash.

Financing Contigency For Home Buyer’s Financing

By | November 18th, 2008|

Most home sale contracts include a financing contingency, in case the buyer's financing falls through. Financing contingency sets a time frame for the buyer to find another lender. What options do the listing agent and the seller have when a buyer does not meet a financing contingency deadline?

Lien Protects Personal Loan For Home Financing

By | November 18th, 2008|

If you're considering lending money to someone for help with home financing, is a lien on the property the best choice? By placing a lien on the home, or obtaining a mortgage from the home buyer, you can protect your loan during times of uncertainty. When the loan is repaid in full, the lien will be released.

Homeowners Association Disapproves Of Replacement Windows

By | November 14th, 2008|

A condo owner recently installed replacement windows and his homeowners association notified him that he broke the homeowners association covenant. The replacement windows are similar to his neighbors' windows. Ilyce says he may have to pay a fine or contact a real estate attorney.

Taxes Affect Manufactured Home Refinance Decision

By | November 14th, 2008|

The owner of a manufactured home asks whether to pay off the mortgage loan or invest extra money. Since the manufactured home is a second home or investment property, the home owner should consider how his taxes will be affected. Tax software or a tax preparer before can help sort this out before deciding to refinance this manufactured home.

Credit Crisis: Low Home Values Lead to Foreclosure

By | November 14th, 2008|

Home values continue to decline and home owners are losing income. These factors affect home owners' ability to sell homes and make mortgage payments. Some home owners may be considering giving their homes to the bank through foreclosure and moving on. Those who can afford to keep their homes have negative equity -- they may owe more than the current home value. The credit crisis continues to impact home values, mortgages and the housing market as a whole.

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