Experience is a good teacher, but when it comes to mortgages—whether you’re arranging a new one or renewing—learning by experience can be expensive.
The more you understand about mortgages and home equity lines of credit (HELOC) before you sign a mortgage contract, the more you can save in interest charges, lender fees, and other borrowing costs. (more…)
The Obama administration has announced yet another initiative to help struggling homeowners avoid foreclosure. Earlier this week, the Department of Housing and Urban Development announced it would extend the period of time unemployed homeowners with Federal Housing Authority-backed mortgages could skip or make smaller mortgage payments to a minimum of 12 months, up from a … Continue reading
Understand first of all that there IS a difference between price and value. Price is the amount you are asking for the property. Value is buyer perceived, and this perception of value is influenced by many factors such as location, features, condition, comparison to other purchase option, etc. By attending to details that can have … Continue reading
You may want to refinance your home for several reasons. 1)Mortgage Rates might be lower now. The biggest reason that people refinance their mortgages is to save money. No matter what has happened to you, there is always a good reason to start saving money. A lower rate on your mortgage can help you stretch … Continue reading
At some point in your adult life, you are likely to purchase a house of your own. Whether you are sick of renting, or you have decided to settle down and start a family, purchasing your first home can be an exhilarating and nerve-wracking adventure. In researching the best practices for new home buying, we … Continue reading
If you are interested in buying a home then you are certainly shopping for a mortgage quote from a variety of different lenders. This is important because when you have more than one mortgage quote you can compare the different lenders and find the one that is best for you. Frequently, the average mortgage quote … Continue reading
From the very beginning of the industry, real estate infomercials have been very successful. There’s something about the idea of making money in real estate that appeals to a lot of people. In fact, most of the real estate infomercials that have appeared through the years have been scams for several reasons. First the … Continue reading
1. Which construction loans are available and which one should you apply for? Home loan banking and the internet has changed the mortgage and construction loan industry forever. Today’s construction loan choices include the 30 year fixed, 15 year fixed, 1 year ARM, 3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM and don’t forget the … Continue reading