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.
Title Problems: Conflicts of Interest?
A title insurance professional comments on title insurance problems and why they happen. Problems may stem from conflicts of interest in which real estate agencies also own a mortgage company and a title company but don't disclose the relationship.
Over-Appraised Loan Results In Foreclosure
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.
Mortgage Lenders Reach Out In Unusual Ways
Today's mortgage game is so competitive that lenders are reaching into neighborhoods to find the next generation of home buyers. With the U.S. homeownership rate at about 68 percent, interest rates on the rise, and the median price of homes skyrocketing, lenders figure loan program innovation is the only way to develop new home buyers.They're using innovative marketing tools, targeted programs and, in some cases, wheels.
Title And Mortgage Problems Add Up
A lot of newcomers have joined the title and mortgage industries in the past few years in order to make a fast buck with the recent real estate gold rush. But many don't know what they're doing and many more are overworked and that makes like difficult for buyers, sellers and agents.
Cannot Pay Back a Loan – Is It My Fault?
A lender gives you money based on your ability to repay the mortgage. If you lose your job or even if someone lied on the appraisal or application doesn't excuse the fact that you borrowed the money and spent it. Now the lender who owns the rights to your mortgage has the right to be paid back, no matter how many "pennies on the dollar" he paid for the servicing rights to the loan. Who is to blame when a loan doesn't get paid?
Reverse Mortgages And Lender Liability
If your neighbor has a reverse mortgage, can she and her mortgage lender be held responsible for criminal activity at the home? With a reverse mortgage or hecm, the mortgage lender pays the homeowner over time and the the lender is repaid when the home is sold. But even though the mortgage lender holds a lien on the home, it couldn't be held responsible for the criminal activity. The only one liable is the homeowner. But before a neighbor files a lawsuit, he should contact his local police department.
Difference Of Opinion With Your Lawyer
It isn't unusual for lawsuits, settlements and negotiations to take a very long time. If your attorney is unwilling to listen to you, you must find one that will. Sometimes an attorney and his or her client will disagree on tactics or settlement issues. But if there are fundamental differences of opinion, and you and the attorney cannot agree on how to proceed, then you need new counsel. However, just because you're losing the case, doesn't mean the attorney has done a poor job or does not have your best interests at heart.
Making Extra Mortgage Payments
Is there any advantage of sending half of the mortgage in early every month? Is the mortgage company required to accept the bi-weekly payments? The solution is to send an extra 1/12 payment every month to pay down your mortgage in less time.