If you are a homeowner, you surely have heard so much about home equity loan. What is this all about? Owning a home is not only a major turning point in your life, but is actually an investment that will increase in value over time. In time, your home value would increase. This means that your house which originally cost you $150,000 10 years ago can now be sold for $200,000.
Consequently, if you purchase (more…)
Refinancing, when it refers to your home mortgage, basically means re-obtaining the financing to pay off the original debt and start paying the new loan with better terms. The new loan is generally the same size as the old one and uses the same property, your house as security or collateral.
There are several reasons to go for refinancing:
? To switch over to a fixed mortgage from an adjustable (more…)
If you have ever considered buying a home, then obviously you have asked yourself: How do home mortgages work? Of course it is complicated and in most cases is not something that should not be attempted without professional help. Unfortunately most people can’t afford a home without taking out a loan to pay for it. Buying the house back from the bank in a certain amount of time can range anywhere from (more…)
Under certain conditions, individuals who are age 62 and who own their own home can obtain an FHA home reverse mortgage. This option allows you to pull equity cash from your home and use it for any purpose during your senior years. The purpose of the home mortgage is to ensure that seniors will be able to remain financially independent for longer. You don’t lose your home and you don’t have (more…)
The drawbacks and advantages to refinancing depend on what type of method you choose. Regardless, you should know that there are advantages and disadvantages to each option, and it is to your advantage to choose wisely, depending on what your conditions and finances allow.
For a cash-out refinance there are several, the most glaring being that you are further in-debting (more…)
Far more people are now buying a second property purely for the purpose of letting it out to people who are looking to lease a property. This is expanding both the leasing market and the property market overall, which is have mixed effects on people. For those people that are attempting to enter the property market for the first time it can drive prices in desirable areas up. On the other hand it allows those (more…)
Many say it is an impossible task, but think twice before listening to anybody. To find a mortgage modification service that is specifically designed for those with bad or poor credit can be easier to get than what you expected.
The reason for that is simple. Many lending companies or groups will rather help someone to modify their mortgage or loan agreements if they have (more…)
Desperate times call for desperate measures. And although I rarely suggest this, it just might be the ‘Silver Bullet’ that the homeowner needs to save their home.
The No Fee Home Loan or No Fee Mortgage or No Closing Cost Loan. It can be called many things, but they are all the same thing. And don’t let anyone tell you that it is a ‘special in-house program only’. These have been around forever. (more…)
We all know that there are a lot of mortgage companies out there. But how do you know which company to choose? Some companies have flashy advertisements about low interest rates, but are they really the best company to choose? A mortgage is a very large investment, so the company that you choose has to be the best company out there for you. As a mortgage expert, I can give (more…)
Internet usage if one of the fastest and easiest ways to sort through the many lists of national mortgage lenders. Customer service reviews and service offerings, before and after you secure your loan, are usually listed on company websites. Most real estate professionals also blog about the different lenders, checking out their advice can be helpful.
Your primary (more…)