Twenty years ago, a lot of people took out fixed rate mortgages to try to protect themselves against higher rates. However, interest rates fell, sometimes very sharply, meaning that fixed rate borrowers were very often paying lots more than people with variable rate mortgages.
However, these borrowers could not get out because they were held in by large fees known as early Read More
Another option for a mortgage? You shouldn’t be so surprised. Interest only payment mortgages can get you into a home.
There are so many options for people to buy a home today. The financing continues to get even more creative as lenders continue to help as many people as possible get into a new home. This can be great from a quick glance, but you must be careful not to get into Read More
With the fears of recession still looming large over the country and with no signs of a decrease in the joblessness rate, an increasing number of people are finding it very difficult to meet the monthly mortgage payments. Unfortunately after a few missed payments foreclosure turns into a real possibility. However homeowners who are dealing with such a situation need Read More
The world of mortgages has become a real minefield over recent years, with more and more deals coming onto the market.
These days you can find mortgages to suit a wide range of circumstances and needs, but if you know little or nothing about them the whole process can still be confusing and frustrating. If you are not confident about finding the right deal then it may be a good Read More
When faced with stressful credit problems, it’s often all that you can do to just get by from day to day, let alone try to get a loan to keep your house. Credit troubles can cause a family to despair and often simply give up hope. Today, lenders specialize in helping families and individuals find sources to consolidate their debts and save their home.
Once you have located a lender that you can work Read More
Depending upon your lender and the programs they’re involved in, a drop in your income or a rise in your house payment might qualify you for a mortgage loan modification.
If you’re struggling to meet your mortgage payment every month, consider calling your lender to see if they can offer help. You may be able to get a refinance with more favorable terms, or you may be eligible Read More
It’s the accountability for all parties engaged in the mortgage market to make sure that shoppers have access to good loan products.
Mortgage industry leaders must not only outline a collection of best practices, they must also put in place mechanisms that insure compliance by all industry partakers. The high roaders must work in partnership to drive the low roader practices Read More
As much as we’d like to think that our bank is available to help us, the truth is that they are really just in the business of making money. All of their tactics and decisions on who to lend to and what loan products to offer are simply designed with their best interests at heart. If you are falling behind on your mortgage payments the bank may try and persuade you to agree to a short Read More
If you are interested in exploring a refinance mortgage as a way to help fund your retirement years, you might benefit from knowing what finance mortgage wholesale loans are and how they will affect your ability to get a loan mortgage.
Refinance mortgage wholesale products are what lifetime mortgage lenders purchase at a discounted interest rate, and then offer to borrowers Read More
Did you foolishly sign on with an Adjustable Rate Mortgage with GMAC? If so, you probably had quite a shock when your payment suddenly went up without warning. You may have been unable to pay the payment, and you are now in default on your mortgage. A GMAC Loan Modification may help you get things straightened out, and it could get you a much lower monthly payment.
Just Read More