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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 With No Income

By | February 25th, 2005|

A homeowner is refinancing their home after a divorce without any income but with an excellent credit score. Having good credit doesn't compensate for not having enough income to make the payments on the loan. A no-doc interest-only loan will help keep her payments as low as possible and get a loan without showing her income.

Avoid Scams When Refinancing

By | February 18th, 2005|

A reader fears they have been scammed on the fees for their refinancing. Ilyce says they need to compare their loan to other offers to determine if they have been scammed, but she emphasizes the importance of shopping around for a lender.

Increase In PMI A Result Of Bad Lender

By | February 4th, 2005|

A homeowner is having difficulty finding out why her PMI is so much more than was stated in the original good faith estimate. The homeowner should file a complaint and use a real estate attorney in the future to avoid problems with bad lenders.

Refinancing With Poor Credit Score

By | February 4th, 2005|

A homeowner is looking to refinance even though their credit rating is in the 500s. They are looking to refinance into an adjustable rate mortgage to help pay down their large debts. The first step is to make sure the lender offering the refinance is a legitimate lender and that refinancing with them will help raise the credit score.

When Not To Borrow Against Your House

By | February 4th, 2005|

It's one thing to take out a home equity loan to renovate your home. It can even be a good idea to use your home equity to pay down or pay off your credit card debts or auto loans. But a home equity loan isn't meant to buy Super Bowl tickets.

Refinancing Home With A Bad Credit Score

By | January 28th, 2005|

Can you refinance your home if you have a bad credit score? Ilyce discusses how to make corrections to credit history, and boost your credit score so you can work with lenders and refinance your home. Ilyce also offers tips on how to improve your credit score and refinance your home within six months.

Mortgage Broker’s Descriptions Turn Off Potential Buyers

By | January 26th, 2005|

Everyone wants a "sunny," "charming," "adorable" home with a "skyline view." But what happens when these fantasy home turn out to be figments of your broker's imagination. It could be they are trying to put a positive spin on things, but if you don't like the way your broker describes potential properties, you should sit down with him or her and explain that you'd prefer to hear the "truth" about each property.

Mortgage Broker Demands Fees After Cancelling Loan

By | January 14th, 2005|

A borrower canceled a loan after seeing that fees had mysteriously increased, and now the mortgage broker is insisting on payment for his service. This borrower should write a letter to the mortgage broker informing him that he has violated many of the laws under the Real Estate Settlement Procedures Act (RESPA). It's also a good lesson to never give a lender cash until you know exactly what you're in for.

What Can Go Wrong At A Refinance Closing

By | January 6th, 2005|

Avoid problems with refinancing: Be organized, plan out the money, change your homeowner's insurance, arrange for new conditions and title.

Back Taxes Owed On Foreclosed Property

By | December 24th, 2004|

After purchasing a property in foreclosure, you could receive a notice for back taxes. Make sure you get the title commitment and owner's title insurance at the time of purchase. Even though it is a foreclosure property, you need to make sure all title problems and tax issues are resolved.

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