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.
Inappropriate Questions On Mortgage Application
Does pregnancy factor into a mortgage lender's considerations when making loan decisions? Such a question would be inappropriate for a mortgage lender to ask when applying for a loan. Your mortgage loan application should only require questions that affect your credit.
Residential Versus Commercial Mortgages
If you're thinking of buying a home as an investment property and then turning it into office space - should you look for a residential or commercial mortgage? With a commercial mortgage, you'll pay more in interest rates and points and fees. A residential mortgage may also offer a higher interest rate but it will be less than a commercial loan. One of the keys to find finding the right mortgage is talking to several lenders.
Concern About Stated Income Mortgage Loans
A lender touches base with Ilyce about loan options for people with a high debt-to-income ratio. Asset/Stated Income products can help, but be very careful about predatory lenders.
Loans Financing New Construction
There are several loans you can get to finance new construction. The loans you can get to finance your new construction include a construction loan and equity from an existing home. However, you must make sure you can make the payments on the loans financing your new construction, especially if you are planning to keep the current home you're living in. Without the sale of that home, you may not be able to afford loans that finance the new construction home you are building.
Mortgage Lender Misrepresents Mortgage Loan
When you get an FHA mortgage loan you get an FHA number. But is an FHA number enough to prove that you have an FHA mortgage? What if your mortgage lender has you pay FHA mortgage fees but you later discover you don't have an FHA mortgage loan?
Owing Back Taxes After Foreclosure
After a home is foreclosed on, do you still owe the back taxes? You must determine if the foreclosure of the home and subsequent sale of the home by the lender produced enough cash to satisfy your debt to the lender. In some cases, lenders don't go after the difference from the borrower. However, in other cases, lenders keep will pursue that homeowner until they get all they can. A deficiency judgment would be the difference between what the lender got from the sale of the home and what you still owe the lender. The deficiency judgment gives the lender the right to continue to go after you for that amount of money.
Ilyce Glink on WSB Radio – March 26, 2006
Ilyce discusses the latest news in the world of identity theft. Ilyce then takes calls on topics from identity theft to dealing with mortgage company after a 30-year mortgage was suppose to be paid off.
Ilyce Glink on WSB Radio – March 5, 2006
Ilyce starts the show off by talking about a Washington Post column that deals with the new issues in mortgage lending. Ilyce then takes calls on topics from investing fraud to how to sell an estate property.
Refinancing A Home For Repair And Estate Planning
Refinancing a home for repair and estate planning purposes can be a challenge for a person who is doing this for an elderly loved one. If the property is in the elderly person it's best to speak with a mortgage lender who specializes in loans to senior citizens, in order to refinance and repair the home. Speaking to an expert in this field can help the person decide whether to refinance and repair the home, or whether selling the home now would be the better option.
Reverse Mortgage Or HECM May Be Good For Elderly
Older Americans who own their homes outright may benefit from a reverse mortgage or HECM, where they'll receive monthly payments from the equity in their homes. Reverse mortgage or HECM lenders can advise on how much a reverse mortgage will cost in fees and the issues inheritance issues involved.