When choosing a good mortgage lender, whether you choose a mortgage broker or a mortgage banker, you’ll want someone who can do the job right. Finding a lender who will take the time to make sure you understand the different loan programs being offered, and will help you decide which loan best meets your needs is key to having a smooth closing. Check out the articles, columns, blog posts, radio shows and videos for more information about mortgage lenders.
Zero Down Payment Loans Difficult To Find
What can you do if you want to buy property but you don't have the money for a down payment? You either need to save or get down payment money from a friend or family member. You must have at least 3 percent of the purchase price to put down on an FHA loan.
Another Lender Bites the Dust
Lehman Brothers announced today that it was shutting down BNC Mortgage, the subprime mortgage company that it bought in 2004. A note on the BNC Mortga...
Ilyce Glink on WSB Radio – August 19, 2007
Wow. It's nearly the end of August. Can you believe it? In this week's radio show, Ilyce Glink discusses personal finance, real estate and trends in the economy. She also takes calls from her listeners on a variety of topics.
$11 Billion For Countrywide
The news this morning that Countrywide has borrowed about $11 billion from 40 banks is enough to give anyone pause. While that sounds like a lot of c...
Countrywide Falling?
A fairly sophisticated money guy I know, who regularly pulls down nearly 7 figures a year, sent me an interesting email this morning. He wanted to kn...
Get the Best Loan at the Best Rate on the Best Terms
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.
Prepayment Penalty May Happen With Refinancing
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
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.
Connecting Borrowers With Private Lenders
Investment property owners who have tapped out traditional banks and mortgage lenders may be able to turn to alternate lenders. Prosper.com is a site that connects borrowers with private lenders. You post a "loan listing" which includes some of your personal financial information (you decide how much personal information to reveal) and what you're trying to do online and various lenders will bid for the right to do business with you. You can borrow up to $25,000.