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.
Real Estate Market: Improvement Through Employment, Refinancing, And Avoiding Foreclosure
What steps can we take with the economy to improve the real estate market? Keeping people employed, changing refinancing rules and encouraging people to stay in their homes and avoid foreclosure are some possibilities to improve the real estate market. If you have suggestions for how to improve the real estate market, send Ilyce an email.
Pay Estate Tax with Mortgage Loan
In settling an estate, the administrators have to pay any taxes due, if the estate has a large enough monetary value per the IRS requirements. In some cases, the estate will have enough cash on hand to pay the taxes due. An estate administrator asks about paying taxes on a $5 million estate. The estate lacks the money to pay the taxes but the administrator wants to take out a mortgage on a $2 million property that's part of the estate.Chances are good that a bank would grant a mortgage loan on such a property and that the administrator should look for a bank with an interest in the property's location.
Notify Mortgage Company When Changing Status Of Second Home
Mortgage companies often issue loans contingent upon how the home will be used -- will it be a primary residence or a second home? Do you need to notify your mortgage company if you decides to change the status of a second home? In some cases mortgage loan documents contain a time limit for notifying mortgage companies about home status changes.
Mortgage Loan Rates Rise
Both the Mortgage Bankers Association (MBA) and Freddie Mac issued news that mortgage loan interest rates have gone up. For the week ending Oct. 10, ...
Daughter Assumes Mortgage Payments
Can a daughter's name be added to the deed of her home since the daughter has started to make mortgage payments for her parents? While it may seem like a good short-term solution, there are many implications to the daughter assuming the mortgage. How can they protect both the parents and the daughter in the transaction? There have been incidents where the children assuming the mortgage have evicted their parents. Another option is to add the daughter's name to the house deed in addition to the names of the parents.
Owner Occupied Status Affects Mortgage Refinancing
A renter asks about an owner-occupied requirement with regard to mortgage refinancing. The renter says his landlord has refinanced the property twice, each time claiming he lives there. The renter wonders if the landlord breaks the law by claiming the property is owner-occupied during a mortgage refinance. Circumstances may change after the mortgage refinance occurs and that lenders don't have time to follow up.
Mortgage Loans Change In Economic Crisis
With the real estate market in decline, mortgage lenders are stricter about requirements for loans. Do you need a bigger down payment, a better credit score, or more solid work history? How has qualifying changed and what do you need to know in order to qualify for a mortgage loan in today's tough market? Watch this Expert Real Estate Tips segment to find out more about what mortgage lenders require.
What Mortgage Lenders Require Of Borrowers In A Declining Market
Qualifying for mortgage loans has changed completely over the last year. In a declining market, what do mortgage lenders require? Listen to what one southern California expert says about appraisals, mortgage loans and today's real estate market in this Expert Real Estate Tips segment.
Listen To Ilyce On WGN
Yesterday, Ilyce talked to WGN about Countrywide and Bank of America. She talked about negative amortization loans and what borrowers can do if they h...