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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

Refinancing Mortgage: Cancel Mortgage Refinancing After Contracts Signed

By | May 22nd, 2008|

Can you can cancel a mortgage refinance loan after having signed the paperwork. It depends on how soon after having signed the refinance documents you change your mind and some lenders may charge fees for backing out. Some contracts list specific cases when it is OK to cancel a loan.

Selling For Lower Than Home Value

By | May 22nd, 2008|

A seller asks about selling his home for a lower home value than its appraisal value. He wonders if selling for a lower home value could be illegal. A wrong home value could lead to mortgage fraud or call the appraisal into question.

How To Evaluate Home Inheritance Options

By | May 15th, 2008|

When you inherit a home from a family member, should you keep it or sell it? What can you do with a home inheritance if selling isn't an option? Does a deed in lieu of foreclosure or a foreclosure make sense? To keep the home, you'd need to keep paying the mortgage, taxes and insurance.

Title Search May Delay Deed In Lieu Of Foreclosure

By | May 15th, 2008|

Can a lender foreclose on a home before a deed in lieu of foreclosure can be finalized? A title search can delay a deed in lieu of foreclosure process. In addition, whatever the title company finds during the title search can affect the deed in lieu of foreclosure. How does having a name on a title but not a mortgage loan affect a title search? Another reason a deed in lieu of foreclosure may be delayed is that lenders are swamped with similar situations.

HELOC Better Idea Than Second Mortgage

By | May 15th, 2008|

Homeowners ask about getting a second mortgage or a HELOC since they will own two homes if they cannot sell their current home right away. A HELOC is a home equity line of credit. The homeowners say they can repay the HELOC as soon as the first home sells. Getting a HELOC instead of a second mortgage is a good idea.

Lender Turned Down Refinance

By | April 24th, 2008|

Refinancing may not be the best option to consolidate debt. If you don't have any equity in your property, you cannot refinance in order to consolidate debt. Mortgage lenders are getting picky about how much cash you can borrow against your equity. These days, they're not doing 100 percent loans, or anywhere close to that. If you're in a declining market, where home prices are falling, they might not refinance you if you have less than 5 or even 10 percent equity in your home.

Choosing The Right Mortgage Lender

By | April 24th, 2008|

How can you choose the right mortgage lender? Ask friends and family for mortgage lender references, interview the mortgage lender and make sure the mortgage lender does meticulous underwriting.

Getting a Loan Through a Mortgage Broker

By | April 19th, 2008|

When shopping for a home loan, is it better to go through a mortgage broker or a bank? When you get a loan through a mortgage broker, he's compensated with fees often paid by the lender. Mortgage brokers represent "end" lenders, the companies that invest in mortgage loans.

Consult Attorney To Document Property Ownership

By | April 10th, 2008|

When elderly parents own a home and one of them passes away, it may put the home's ownership into question. How can the surviving parent and children ensure the home ownership is fair? Consult with an attorney to document the home ownership in a way that takes into account all family members.

Home Loan With Bad Credit

By | April 3rd, 2008|

A graduate student says he's got bad credit but wants to get a home loan upon graduation. If you get a home loan with bad credit it will cost you more. Before getting a home loan you should first fix bad credit.

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