Wikipedia defines mortgage as: "While a mortgage in itself is not a debt, it is the lender's security for a debt." However it is considered good debt for consumers. When handled correctly, it can be and usually is your livelihood.
Tips How To Get Mortgage Loan At The Lowest Possible Rate
Sat Feb 20, 2010 | | Posted in Mortgage
The most important and probably the only criterion for getting mortgage loan at the most favorable and lowest rate is to improve and raise your credit score to as high as you possibly can. The higher the score, the lower the interest rate. Of course, at both ends of the spectrum, as with anything else, … Continue Reading »
10 Easy Steps To Finding The Best Mortgage Lender
Sat Feb 13, 2010 | | Posted in Mortgage
When you need the best financial adviser, you look for the best. When you need a good tax preparer, you find a good one. On the same token, when you look for a good and an effective mortgage lender, you look for the best mortgage lender. These days, because of the so many scams going … Continue Reading »
Foreclosure does not necessarily mean zero mortgage balance
Thu Feb 4, 2010 | | Posted in Mortgage
Media have reported millions of homes that have been foreclosed by banks the past year or so. That does not necessarily mean, after the foreclosure, the homeowners are off the hook from then on and the mortgage balance would automatically come down to zero. In cases where the bank auctioned off the home for less … Continue Reading »
Don’t let Willie’s mortgage story be your outcome
Sat Jan 9, 2010 | | Posted in Mortgage
Before I say anything further, I want to mention that an overwhelming majority of the mortgage refinancing companies – in any shape or form – have legitimate businesses and that includes your neighborhood bank as well. They will help you refinance your home without any questionable action on their part and within the law, fair … Continue Reading »
Reverse Mortgage lenders might put older homeowners at risk
Sat Jan 2, 2010 | | Posted in Mortgage
Reverse mortgage by its very nature is targeted towards seniors – age 62 or older – as against sub-prime market where everyone got screwed regardless of age. Sub-prime went down the drain so the story goes or at least we are being led to believe it did. You know that the National Consumer Law Center … Continue Reading »
Mortgage lenders profit from foreclosure and not modification
Mon Dec 28, 2009 | | Posted in Mortgage
The Federal Government initiated a program a while back called the Home Affordable Modification Program (HAMP). The basic logic behind it was to make loan modification easier and perhaps simpler for the consumers so that they would avoid foreclosure on their homes. But guess what? The lending institutions – perhaps your neighborhood bank as well, … Continue Reading »
Have more control over your homeownership future
Mon Sep 21, 2009 | | Posted in Mortgage
Have you fallen behind on your mortgage payments? If you have, don’t despair. Don’t think about defaulting on your mortgage loan. By following these steps, you can have more control over your home-ownership future than you think. So then, how to find the money you need You don’t necessarily have to have a checking account … Continue Reading »
3 more months and $8,000 vanish into thin air
Wed Sep 2, 2009 | | Posted in Mortgage
Time is running out to claim the $8,000 first-time home-buyers tax credit. Passed earlier this year as part of the economic stimulus package, the credit is good for up to $8,000, or 10% of the purchase price, and applies to people who have not owned a home in the previous three years. There are some … Continue Reading »
Have a specific goal in mind when you apply for loan
Sun Aug 30, 2009 | | Posted in Mortgage
You gotta have a goal, a specific plan when you go to a lending institution and apply for a loan. Most folks do and they get a loan to spend on something that can potentially give them a return. There are, unfortunately, some who get a loan, at least when the credit was available in … Continue Reading »
The negative equity in your home is shrinking
Sat Aug 15, 2009 | | Posted in Mortgage
What the heck is negative equity? If you have heard of mortgage underwater, then negative equity means almost the same, for us ordinary folks. I don’t know if there is a difference in technical definition. Let’s say your home is worth $200,000 and you owe $250,000 in mortgage, then you have negative equity of $50,000 … Continue Reading »
