Obama’s Home Affordable Plan has been operational for over a year, now. The Administration is pleased overall with its results, but they have been making some adjustments and improvements. The overall efficiency of the program will be enhanced.
The government has determined that the economy is doing better. The real estate market is showing positive growth signals. Interest Read More
There are various ways in which you can save on a mortgage. One of the popular options, which are readily available to borrowers, is the purchase of discount points. Find out how this saving method works and consider its pros and cons to decide whether it is worth using.
How Discount Points Work
With each discount point, you reduce the size of the principal Read More
If you’re getting restless and feel that it’s time for a change of scene, don’t automatically think of a move. If you need a bigger house for family reasons, or it’s necessary in order to take up new employment, then that’s a different matter and it may well be that you have to get into the sales process, with all its chains, broken promises and disappointments.
If it’s Read More
Refinancing is a costly business. There are closing costs, fees and there may be early payment penalties on the existing mortgage. Should homeowners have to refinance again few years time, there will be similar costs again. Furthermore, changes in circumstances may prevent them from refinancing again.
Homeowners should consider their future plans and adversities. For example, people coming Read More
When you are refinancing, it is not uncommon to hear lenders refer to points. But what are these? If you are going to be a savvy home loan consumer, it is important to understand common financing and refinancing terms. The term “points” is one of those terms that it is helpful to know when it comes to getting a mortgage, whether it is your first home loan or whether you are refinancing an existing mortgage Read More
Are you firmed up to remortgage and would like some relevant info? You indeed need to compare mortgages and even consider self-build mortgages. There are 4 primary areas to consider when you look for a new remortgage deal. They are all equally as important and determining factor of the amount you can access from lenders and the interest rates that you could be paying.
Equity /Loan to value
All lenders Read More
When a mortgage refinance is in your future, you may need to worry about what the industry calls short-sales and how they can affect the value of your home. A short-sale of real estate means (1) the property owner can no longer afford to make the monthly payments on the mortgage, so (2) the lender is threatening to foreclose the loan. To prevent this (3) the property owner Read More
1. Watch out for the ‘Deal Of A Lifetime’, the deal that seems too good to be true. The company may be saving money by cutting back on their level of service.
2. When getting a fixed rate: get a written statement which details the interest rate, how long the rate is fixed for, and the conditions attached.
3. When interest rates fall: try and leave your repayments as they are. Read More
When you sign up for a mortgage, be sure to ask for an amortization chart. You see, when you make a monthly mortgage payment, a portion of it goes into paying the interest and the remaining is channelled to repay the principal loan amount.
In the beginning of your mortgage, a big portion of your monthly repayment are set to pay for interest and only a small portion is allocated Read More
Mortgage loans in the United States are basically of two types. The first one is mortgage or mortgage deed and the second one is deed of trust.
Mortgages are indispensable part of the financial system in any economic system. One of the largest and most affluent economies on the globe, United States is no exception to this. Usually two types of mortgage loans are practices in the country. Mortgage, Read More