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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

Mortgage Pay Off: How to Get Lien On House Released

By | February 8th, 2007|

What do you do if you pay off your mortgage, but there is still a lien on your home? If the mortgage company you bought the loan from is no longer in existence, there is still a way to get the lien off your house and prove you paid off the mortgage. Ilyce suggests that a local title company may be able to track down the mortgage company and get the lien off of the house.

Credit Card Balance Hurts Mortgage Applicants

By | February 7th, 2007|

Should you pay off credit card bills before applying for a mortgage? Lenders are used to seeing credit card balances, and they can adjust for them. What happens is that the lender adds up how much you can afford to spend each month on your mortgage, interest and taxes. Having a zero balance on credit cards will help your chances for getting a good rate on a mortgage.

Construction Loans Versus End Loans

By | January 25th, 2007|

A residential construction loan is used by a homeowner while he or she builds a home. The lender gives the borrower a bit of money at a time as the building is put up. When the home is up and the homeowner moves into it, an end lender - meaning a lender that wants to give the borrower a permanent loan - will finance the property as it would any home, without dealing with construction issues. During the construction process, the lender will give you money to continue with your construction. Each time you need money for the construction you request a "draw" on the loan. Once a portion of the loan is paid to you, you have to start paying interest on the loan.

Refinancing ARM Mortgage Loan

By | January 24th, 2007|

When deciding whether to refinance it takes more than just considering the duration of the loan and the interest rates. You have to calculate whether you can earn back the money you spent on points (a point equals 1 percent of the loan) in enough time to make it worth it to refinance. Paying too many points to refinance a mortgage with a small interest rate change may not make sense.

Second Mortgage For Tear Down

By | January 5th, 2007|

A homeowner is thinking of getting a second mortgage to finance the tearing down and rebuilding of her home. This will put her initial mortgage at risk of being called due. The homeowner should talk with several local mortgage companies to determine what options this homeowner may exercise.

Understanding Reverse Mortgages

By | January 4th, 2007|

In general, a reverse mortgage is something you consider if you have no other alternative and want to stay in your property. Reverse mortgages tend to be expensive, relatively inflexible, and they will eat up most of the equity in your property. Much research is needed before deciding to get a reverse mortgage.

To Refinance You Need A Job

By | December 31st, 2006|

To remove someone from a mortgage loan, you have to refinance. To refinance a mortgage loan you have to show that you can make payments, through the form of holding a job. You can't refinance a mortgage loan without a job, even if both parties want to speed up the refinance process. In addition, if you want to sell the home you need to have permission of the other person whose name is on the mortgage.

Refinancing Home For Sale With Increasing ARM

By | December 25th, 2006|

Can you refinance your home because your adjustable rate mortgage(ARM) has just increased? If there are other factors involved, besides the ARM increasing, you may not be able to refinance your mortgage. For example, banks will not refinance a mortgage loan when a home is on the market.

Refinancing Rental Property Mortgage Means Higher Interest Loan

By | December 22nd, 2006|

If you are self-employed trying to refinance a piece of rental property may require a higher interst loan. If you are self-employed, and want to refinance property, refinancing your primary residence is a better option. If you must refinance the mortgage on rental property, you may want to try working with community banks.

Bank May Buy Back Home

By | November 30th, 2006|

In some cases, if a homeowner is in trouble and contacts the bank, the bank may be willing to take the title to the home in exchange for the amount owed on the mortgage through a deed-in-lieu of foreclosure. The idea of selling to a bank through a deed in lieu is not an alternative to selling the home on the open market. The "sale" of a home to a lender with a deed in lieu is a "last resort" move before foreclosure.

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