First, let me answer the 2 basic questions about Mortgage Escrow.
What is an escrow?
An escrow is when you include your taxes and insurance with your monthly mortgage payment.
How does Escrow work?
1. Buyer, seller and the Escrow Agent sign the escrow agreement.
2. Buyer deposits money and/or documents in escrow.
3. The Escrow (more…)
Because today’s economy needs as much help as possible, interest rates have been lowered to the lowest point in decades meaning home financing is more attractive than ever. TV and magazine ads abound for companies offering interest rates that could literally save you tens of thousands of dollars over the life of your loan, even lowering your monthly mortgage payments to a level that gives (more…)
If you are thinking about a home mortgage refinance loan, there are several things to consider. For example, some people may have less than perfect credit, and think that refinancing is not an option. However, you can find lenders that will help you with the refinancing procedure, even if you have bad credit.
When you visit your local bank, (more…)
If you were offered this type of deal, then it appears that the lender has simply added onto your mortgage payments that you originally owed, re-amortized your loan payments and restructured your loan. Although it is technically a loan modification, it is not the objective or desired outcome most people are seeking.
The Better Option A much better way to structure this would be to simply (more…)
Most owners are generally familiar with the most basic mortgage terms. Words such as depreciation and mortgage, the APR and the refinancing programs are fairly well known. When you send a number of terms associated with loan modification, most people are not so well informed. This is one of the main reasons for the change in long-term loan is so confusing to many homes, who are looking for a lawyer (more…)
Refinancing lenders seems to hold all the cards. They have the money and their own system for determining which type of credit you can qualify for. What lenders don’t want you to know is that you can improve your credit rating in a matter of days.
Good Credit Factors
Good credit does not mean perfect credit. People assume a 30 day late payment means poor credit. Not true. You can still have good (more…)
Government mortgage assistance is proving to be a boon for those homeowners who are under the heavy burden of mortgage. This timely assistance has surely made their lives a little bit easier.
It is the dream and hope of every family to own a house, and provide the children with a loving and caring environment to grow in. That can happen only when they own the house without the worries (more…)
Attorneys are the solution for many homeowners and real estate investors today. Homeowners are struggling with their mortgage payments and some already lost their homes, but there is a solution for that today. Most people don’t know that real estate owners have many options to stay in their homes. You can lower your interest rate and sometimes reduce the principle owed on the mortgage. Today knowledge is power (more…)
Home owners across the country are facing adjustable rate mortgages that having increasing payments that make on time payments next to impossible to make. If you are a home owner that is facing this stress because you missed two or more mortgage payments you need to be aware of how serious of a problem you face and what you can do about it.
Dealing With Multiple Late Payments
The first (more…)
How you manage loans impacts your FICO score more than any other factor in your credit report. It’s a fact, you are scored heavily on the kinds of loans you have, how many months or years you have had those loans, how much you owe, and your repayment history, are key clues that credit bureaus use to arrive at your credit score. If you can wisely manage your loans, you will add points to your credit score (more…)