Mortgage & Refinancing Information:
Unlike other investors, my venture into real estate was a natural
extension of my secondary business as the IP Ware software
developer. However, opportunity and perseverance beget wealth, or
at least a decent side income.
Once you've purchased your home, you will begin to get
correspondence from your lender about a "Mortgage Reduction
Program," in which you can cut years off your mortgage, without
adding money to your payment. This is another trick bankers have
to get you to give them your payment sooner, so they can hold it
in escrow and make more money off of you.
A few years ago, a loan officer who worked for me was having a
problem helping a customer. He was new to the business and had
very little patience for problems (as you might have already
guessed, he didn't last very long).
What if a banker or mortgage broker told you he's loan you 25
percent above the value of your home? You might think it sounds
great, but I sure hope you'd say no. This is a loan only the most
money-hungry and unscrupulous loan officers will sell.
If you buy new windows, you'll not only pay for the windows, you
will also pay an installation fee. When you purchase a car, you
pay tax, title, assumption fee, etc.
Looking for home mortgage loans can get confusing with the
alphabet soup of mortgage loans programs available today. Most of
these programs are just variations of fixed rate and adjustable
rate mortgage loans.
Have you ever heard of a mortgage broker before? If you haven't,
then you definitely need to give yourself more options whether
you are applying for a new home loan or are refinancing your
current loan, and learn what they are all about. Mortgage brokers
can help you save thousands over the life of your loan.
Buying a home remains the great American dream. Home ownership
rates have been exploding in recent years, spurred on by the
historically low interest rates in the home mortgage market.
Help is available to borrowers who have claims against their
lenders for violating the Truth in Lending Act and other laws
regulating credit transactions. Such violations may be a defense
to a mortgage foreclosure.
Drive around and see how many signs you see that says House for
Sale. How many lease purchases do you see? How many abandon
houses are on your street? Our country is up against the wall
with delinquent mortgages.
"Own your home free and clear in 3 to 4 months. Note paid in
full!" How does this statement sound to you? Does it bring out a
sentiment of grand larceny or does it peek your interest as a
means to quickly and legally increase your personal net worth?
Would it be moral to cancel a debt you made in such an easy and
unfathomable manner? Most importantly, if you were behind on your
mortgage would you pay someone $3,000 to perform this elimination
service for you? Unfortunately, the answer for many homeowners is
What's the most efficient way to secure a US Commercial Mortgage?
Work with a mortgage broker who specializes in this area. If
you've ever applied for a loan, you're familiar with the mountain
of paperwork you are required to complete during the process.
There are many benefits in choosing a remortgage, some of which
are listed below. A remortgage is changing your mortgage without
moving your home.
Why is it that some homes sit on the market for a year while
others sell like hot cakes? Frustrated sellers will blame a bad
market, while a good real estate professional will tell you that
many times, a slow sale is often attributed to the listing
price. If a home is overpriced, buyers will stay away.
When looking for a mortgage to meet your needs, consider these
key questions: Is your income expected to increase in the coming
years? How long do you plan to live in your new home? And, which
mortgage will provide the lowest interest rate? While 15 or 30
year fixed-rate mortgages are the most popular, and Adjustable
Rate Mortgage (ARM) offers some interesting alternatives for home
shoppers who plan to move again within four or five years.
Although interest rates are the lowest they've been in 20 years,
an ARM provides even lower interest rates during its introductory
More Articles from Mortgage & Refinancing
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MORTGAGE-REFINANCING NEWS updated
Wed. July / 15 / 2020
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