Mortgage Loans

A loan to finance the purchase of real estate, usually with a payment period and interest rate. Two popular versions of a mortgage are the Fixed Rate Mortgage (as in “15-year fixed” or “30-year fixed”) and an APR (Adjustable Rate Mortgage).

Advantages Of Refinancing Your Home Mortgage

Should I refinance my mortgage? This is a question by many homeowners whenever the mortgage interest rates drop or people find themselves in different financial situations than when they first purchased the house. Although mortgage refinancing does not make sense for everyone, there are definitely advantages to refinancing. Here are some that you should consider:

Posted in Mortgage Loans |

The Ins And Outs Of Locking In A Mortgage Rate

The mortgage interest rates you are offered will be one of the primary ways you will determine which mortgage lender to use when you purchase a home. When you are quoted a rate, most mortgage lenders are actually giving you what is called an adjustable interest rate, which means it can change over time. So how can you lock in a mortgage rate, rather than fall prey to the changing economy?

Posted in Mortgage Loans |

Second Mortgage a Good First Step

A second mortgage can be the first step to climbing out of debt, especially for homeowners who have bad credit. A second mortgage is a loan taken out in “second position” on a property that already has a mortgage. There are fixed-rate loans, adjustable-rate loans and home equity lines of credit (also known as HELOCs). Fixed-dollar-amount mortgages are the way to go when you need all the money at once. A HELOC is a credit line that can be drawn upon as needed up to the limit of the loan.

Posted in Mortgage Loans |

Discovering Fraudulent Appraisals During Foreclosure

Without question, one of the enablers in many fraudulent mortgage lending schemes has been a crooked appraiser willing to give a property any value that the Realtor, mortgage broker, or lender wanted. The real estate bubble could not have been inflated to such a high level without the complicity of many appraisers who threw all conservatism out the window and began giving properties ridiculous values in order to help secure loans.

Posted in Debt Beat Down 2009!!, Mortgage Loans |