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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

Understanding Construction-To-Permanent Loans

By | August 10th, 2007|

Most large banks or major national lenders offer construction-to-permanent loans. Construction-to-permanent loans are desirable because you eliminate the need to have two closings (with all the commensurate fees) if you had a construction loan and then had to find a long-term loan once the property is completed. Construction-to-permanent financing can be costly, with a slightly higher interest rate.

Get the Best Loan at the Best Rate on the Best Terms

By | August 6th, 2007|

When it comes time to buy a house, the biggest purchase that you will ever make, you need to make sure you have the right mortgage for your needs. It might not be the cheapest, but it might work if the interest rate, fees, and timeline are correct for your budget. The loan you choose needs to work for your personal finance situation not only on the day you close, or for the first year, but for the entire time you plan to live in the property and keep that loan.

How To Transfer Interest In Property

By | August 5th, 2007|

It's fairly easy to transfer the title of a home to another person, but transferring complete interest in a property includes the mortgage. To switch names on a mortgage, the new owner will need to be approved by a lender and then pay off the old loan and transfer the title.

Deed In Lieu of Foreclosure Drops Credit Score

By | July 30th, 2007|

How does a deed in lieu of foreclosure affect someone's credit history and credit score? A foreclosure or a deed in lieu of a foreclosure are both considered highly negative for a credit score. Having a deed in lieu of foreclosure on a credit report will cause a credit score to fall and it may take up to seven years to drop off a credit report.

Prepayment Penalty May Happen With Refinancing

By | July 29th, 2007|

While prepayment penalties are prohibited by many states, they're permitted by federally-chartered lenders. Who is a federally chartered lender? Any lender that has established its charter not in any one state but as a federal savings bank or under federal laws. Think of your major mortgage lenders, most online lenders, and local banks that have chosen to organize under a federal charter. If you're considering getting a home loan that has a prepayment penalty attached or considering refinancing an existing loan with a prepayment penalty, here's what you need to know.

How To Get Lien Released From Mortgage Company

By | July 26th, 2007|

A homeowner asks how to get a lien released if the mortgage company was bought out by another company. There should be a surviving mortgage company that continues to have the obligation to release the lien. The homeowner should be able to find out who purchased the mortgage company and call the department that releases liens.

Settling Condo Finances After Divorce

By | July 25th, 2007|

A woman is divorced from her husband, who lives the the condo they purchased together. She has a deed of trust and a lien on the condo, but the husband refinanced under his name. If there is a lien on the property, the husband should not have been able to refinance, so the lien may not be effective.

Mortgage Company Appraisal Comes In Low

By | June 1st, 2007|

A home seller accepted an offer on her home when the buyer's mortgage company appraised the property at a lower value. The rising level of foreclosures and defaults is forcing mortgage lenders to be more careful about appraisals and making sure homes are really worth what buyers want to pay. It might be beneficial to have another appraiser look at the house.

Refinancing Property After Divorce

By | May 19th, 2007|

If you are getting property as part of a divorce settlement, what is the best way to refinance your mortgage payment? What are your options on how to refinance the mortgage on the property you will be receiving in the divorce? You should be able to afford the new mortgage payment after refinancing.

Removing Sibling From Home’s Title

By | May 9th, 2007|

A single man put is sister on the title of his home in case something happened to him. Now that he is married, he would like to take his sister off of the title but she will not agree to the change. There are many reasons why you should always check with an attorney before putting someone's name on the title of a major asset.

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