A mortgage loan, 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 loan questions and help you find the right mortgage loan for you.
Pay Off Mortgage Before Retiring
A homeowner is thinking about paying off his mortgage before he retires later in the year. Refinancing the mortgage would be better due to the large tax bill he would have to pay to remove money from his retirement account. A fee-only financial planner can help work out how to best pay off the mortgage and discuss the impact of the interest deduction on his income taxes by keeping the loan, the costs in terms of income taxes paid by him for withdrawing the money from the pension plan, and planning for his retirement.
Real Estate Minute: Mortgage Refinancing On The Rise
Real Estate Minute with Ilyce Glink Mortgage Refinancings Are Rising and That’s Good News for Homeowners
Refinancing Property After Divorce
If you are getting property as part of a divorce settlement, what is the best way to refinance your mortgage payment? What are your options on how to refinance the mortgage on the property you will be receiving in the divorce? You should be able to afford the new mortgage payment after refinancing.
Real Estate Minute: No Closing Cost And No Fee Loan
Real Estate Minute with Ilyce Glink Bank of America’s New NO FEE MORTGAGE PLUS Program
Mortgage Lender Must Disclose Prepayment Penalty
Always read and understand all your mortgage closing documents. Even if you're not aware that your mortgage has a prepayment penalty, if you sign the loan documents you're responsible to pay it. A prepayment penalty can kick in when you sell your home or when you refinance - whenever you pay off your old mortgage loan.
Refinancing Adjustable Rate Mortgage With High Interest Rate
How do you refinance an adjustable rate mortgage (ARM) on a home that is not your primary residence, but has a high interest rate. Learn how interest rates are determined for mortgages that are not a primary residence. If the home is not your primary residence, but is a member of your family's, you may want to put their names on the mortgage in order to lower the interest rate.
Income Tax Owed On Short Sale
Homeowners sold their home for less than the mortgaged amount, which is known as a short sale. The IRS considers this as a gift from the lender and will collect income tax on the amount forgiven. The forgiven amount of the loan is commonly referred to as "phantom income" simply because it doesn't exist in your pocket or bank account. So, the seller now owes tax on what the IRS views as earned income.
Homeowners Association Dues Required With PUD Rider
When you buy a home it's important to understand all the documents you sign. When you sign a planned unit development (PUD) rider on a mortgage that obligates you to pay dues as a member of a future homeowners association (HOA). When you're a member of an HOA, you also get benefits like the group caring for common areas.
Helping Offspring Purchase Home
These parents co-signed a mortgage agreement for their son and daughter-in-law and now hope they can take their names off the mortgage with a loan assumption. A loan assumption would remove the parents from the mortgage but this option is only available in rare circumstances. Until the son and daughter-in-law are able to refinance on their own qualifications, the parents will not be able to remove their names from the mortgage.