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.
Is reverse mortgage good for you?
Wed Jul 29, 2009 | | Posted in Mortgage
Are you at least 62 years old? Do you have enough or full equity in your home? Does it get harder and harder to live on your income? Are you retired and living on fixed income? If you say YES to any of these questions, reverse mortgage may be a good option for you. It … Continue Reading »
Calculators for mortgages
Thu Jul 9, 2009 | | Posted in Mortgage
Whenever interest rates drop, the appeal of refinancing your mortgage grows. But it’s important to know the real costs – and potential savings – before making a move. Homeowners can see how their existing mortgage payments might change if they were to refinance, and, just as important, how long it would take to recover any … Continue Reading »
Help Is A Click Away For Home Searching
Mon Jun 8, 2009 | | Posted in Mortgage
Buying a home can be an overwhelming experience, and it starts with your initial search. At times, it can be very annoying. The best thing to do is save money by doing your homework. Talk to several lenders, compare costs and interest rates, negotiate to get a better deal. Consider getting pre-approved for a loan. … Continue Reading »
Home-Buying Search Can Be Annoying
Fri Mar 27, 2009 | | Posted in Mortgage
A few years ago, we decided to move out from our neighborhood and go to another one with woods and more privacy in the back. We had lived in the older house for more than 20 years and the house was all paid for. We started to look around, first just driving in the nearby … Continue Reading »
Short sale is definitely a better deal if you have the money
Thu Mar 12, 2009 | | Posted in Mortgage
In this lousy market, there is a phenomenon known as underwater mortgages. That means the house is worth less than the mortgage loan still remaining to be paid on the property. If you sold the house in this kind of situation, the money you get from the sale will not be enough to pay off … Continue Reading »
Is REO a better deal if you have the money?
Wed Mar 11, 2009 | | Posted in Mortgage
Doing some research via my favorite search engine, I came across a phenomenon called Real Estate Owned property, or REO. Simply stated, these properties belong to mortgage lenders, mostly banks. They outright own the property. REO kicks in as follows: Foreclosure begins with a homeowner’s failure to make a mortgage payment and ends on the … Continue Reading »
Tips to consider before you decide to refinance
Sat Mar 7, 2009 | | Posted in Mortgage
Refinancing a mortgage means paying off an existing loan and replacing it with a new one. There can be many reasons why homeowners will want to refinance. Some of them might be: The opportunity to obtain a lower interest rate The chance to shorten the term of your mortgage To convert from an adjustable-rate mortgage … Continue Reading »
Tips When You Can’t Make Mortage Payments
Mon Feb 16, 2009 | | Posted in Mortgage
In most people’s cases, housing is their biggest expense. If you are having trouble making mortgage payments, you have some potential options to think about for modifying your housing cost. As home prices continue to fall and more borrowers find themselves in need of a modification, correctly dotting the i’s and crossing the t’s has … Continue Reading »
30-year mortgage rate falls for the ninth week
Sun Jan 4, 2009 | | Posted in Mortgage
Lower rates and falling house prices are making home mortgages more affordable to potential home buyers. For instance, house prices fell 18 percent over the 12-month period ending in October, 2008. As a result, financial news have it that the number of refinance applications for conventional mortgages jumped over 500% between the weeks ending on … Continue Reading »
Beware Fake Mortgages
Mon Nov 10, 2008 | | Posted in Mortgage
It started last year, and many times since then, when I received email from a company that claimed to modify my mortgage for a fee. They promised to negotiate lower interest rates and/or principal on loans so my household could afford our monthly payments and stay in our homes. Luckily, we did not have a … Continue Reading »
