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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 Small Loans

By | December 24th, 2004|

Lenders typically don't like to refinance low-cost mortgages because they take just as long but the lenders make a fraction of the money on them. If you still have time left to pay off the loan, taking out a home equity loan to pay off the balance of the loan might be a better option than refinancing. If there isn't much time left on the loan, it may not be worthwhile to refinance it.

Financing New Home After Retirement

By | December 17th, 2004|

There are several options for financing a new home after retirement. If you are looking to finance a new home after retirement, try not to withdraw from accounts where you will be forced to pay a large tax. If you can afford it, the best way to finance a new home after retirement, is to take out a mortgage, rather than withdrawing from retirement accounts.

Interest-Only Loan Not An Option For Fixed Income Buyers

By | November 26th, 2004|

When buying a home on a fixed income, an interest-only loan isn't the best way to go. With a fixed income, it's best to buy a less expensive property with a conventional interest-and-principal loan.

Seniors and Reverse Mortgages

By | November 23rd, 2004|

Many seniors are living only on social security and each month are worried that they'll run out of cash before their next social security check arrives. Your retirement years shouldn't be the time that you wonder whether you can make it financially. Tapping into the equity of your home can help support you financially during your retirement years.

Refinancing Mortgage For A Home Listed For Sale

By | November 19th, 2004|

Ilyce revisits the issue of refinancing a home that is listed for sale. The home that is listed for sale may not qualify for traditional loans or refinancing. The home must be taken off the market and no longer listed for sale in order to qualify for traditional refinancing.

Mortgage Broker Refuses Good Faith Estimate

By | November 12th, 2004|

After paying a $300 loan application fee, a homeowner has yet to receive a good faith estimate from the mortgage broker. Ilyce states that The Real Estate Settlement Procedures Act (RESPA) requires lenders to provide the good faith estimate in 3 days.

Reverse Mortgage Or HECM

By | October 29th, 2004|

Reverse mortgages or HECM's have become a booming business. They allow seniors to get cash out of their homes. To get the most out of a HECM, you need to capitalize on interest rates and home values. The money from an HECM is available in lump sum, monthly payments or a home equity loan or line of credit.

How Reverse Mortgages Work

By | October 14th, 2004|

Need personal finance advice? If you are over 62, a reverse mortgage may be the answer to your personal finance problems.

Over-Appraised Loan Results In Foreclosure

By | September 24th, 2004|

Homeowners need to be careful about over-appraised mortgages. If the loan is over appraised, the homeowner may not be able to pay it back upon sale of the property. Beware of a predatory lender and file a complaint against the lender with the office that regulates banks and mortgage brokers and lenders, perhaps even the attorney general in the state in which you are located.

Converting Variable Rate Loans To Fixed Rate Loans

By | September 3rd, 2004|

What's the difference between a variable rate loan and a fixed rate loan? Should I convert my variable rate to a fixed rate? A variable rate loan means that the interest rate will fluctuate over time. Sometimes it will go down and other times it will go up. If you're comfortable with not knowing exactly what your payment will be, but knowing there are some safeguards in place with respect to how much the rate can rise or fall in a single year, then your increased risk tolerance is rewarded with a lower interest rate.

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