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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

Time To Refinance With Low Rates?

By | September 30th, 2007|

Mortgage refinancing is the first thing to do when the Federal Reserve lowers its rates, right? Mortgage rates often move in opposition to the Fed. Good credit and equity in property will help you qualify for a new mortgage but you should shop around and do the math first to find the best interest rate.

Seller Financing Includes Deed Of Trust

By | September 19th, 2007|

A homeowner bought a seller financed home and the seller holds a deed of trust. She would like to transfer the seller financed home to her children, but the seller does not want to transfer the property to them. Ilyce surmises that the seller may be concerned about losing his interest on this investment property and discusses alternative ways of obtaining this property that started with seller financing.

Homeowners, Housing Market Face Rising Foreclosures

By | September 17th, 2007|

Homeowners everywhere are feeling the pain of the housing market and rise of foreclosures. According to the latest numbers from the Mortgage Bankers Association of America (MBA), the number of homeowners starting the foreclosure process hit a record high this spring. More homeowners cannot make their mortgage payments, and as the housing market continues its downward spiral, homeowners are forced to start the foreclosure process.

Refinancing Required By Divorce Settlement

By | September 8th, 2007|

This divorcee is unable to refinance her home to remove her ex-husband's name, and can't afford the house on her own. The only way to get a name off of a mortgage is by refinancing. If the woman can't afford her home after her divorce, selling it might be a better option than refinancing.

Banks Sells Mortgage

By | September 4th, 2007|

When your mortgage is sold, where do you send your payment? When mortgage loans are sold, there must be a company that purchases the rights to service the loan. The company that sold the mortgage is required by federal law to tell you who owns the servicing rights to your loan.

Refunding Money Down On A Home Purchase

By | August 30th, 2007|

A home buyer put a down payment on a home and then was denied financing. Now the seller refuses to refund the down payment. A financing contingency in the contract will determine if he can get his down payment back.

Lenders Wary Of Low Credit Score

By | August 29th, 2007|

A low credit score can make borrowing money for a home loan difficult. One solution for borrowers with bad credit could be FHA loans and credit unions. But if you have a low credit score, you should be doing everything you can to improve it.

Down Payment Amount Varies With Good Faith Estimate

By | August 22nd, 2007|

What's an appropriate amount of earnest money or down payment? When you're buying a home you'll likely pay some earnest money to show your good faith - that you're really interested in the home. But how much money to put down as earnest money, which can later become your down payment, varies depending on the area where the home is located and the real estate market.

Short Sale When You Can’t Make Mortgage Payments

By | August 19th, 2007|

When you've bought a home and you owe more that the home value it may become difficult to make mortgage payments. Instead of falling behind on your mortgage payments you may want to contact your mortgage lender to set up a short sale. Be aware that when you sell your home through a short sale the IRS will treat the difference between the sale amount and what you originally owed the lender "phantom income."

How To Buy Out Co-Owner Of House

By | August 16th, 2007|

A homeowner owns her home with a friend who wants to move on and take the equity in the home, but the other isn't ready to leave. If the friend wants to buy her interest in the home, she could take out a home equity loan. A real estate attorney can help the two friends work out a deal that could work for them both.

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