Mortgage Content Index - Page 1

A mortgage, or a home loan, can come in many different forms. A 30-year fixed rate, a 15-year fixed rate, an adjustable rate mortgage, a jumbo loan. And what about prepayment or foreclosure? The articles, blog posts, videos and radio shows on this page will answer all your mortgage questions and help you find the right mortgage for you.

A mortgage loan, or a home loan, can come in many different forms. A 30-year fixed rate, a 15-year fixed rate, an adjustable rate mortgage, a jumbo loan. And what about prepayment or foreclosure? The articles, blog posts, videos and radio shows on this page will answer all your mortgage loan questions and help you find the right mortgage loan for you.

**Refinance Fees: How Much Is Too Much?** When you're refinancing your mortgage, how much should you be paying in refinance fees? It can be hard to tell what fees you're paying to the lender, what is prepaid interest, and what are the other costs of the loan. Refinance fees, especially for prepaid interest, can add up to the closing costs of refinancing your loan. Have your lender explain exactly what all the refinance fees are going toward before you make any decision about refinancing or canceling your refinance.

**Qualifying For a Mortgage Loan Stricter For Home Equity Lines Of Credit** Today, bank requirements for a loan are stricter for new home equity lines of credit than they were just a few years ago. Banks and lenders are tightening the requirements for home equity lines of credit and other personal lines of credit to make sure their funds are safe. Now, banks might require higher credit scores, more equity in your home, and other strict requirements before they will give you a line of credit. However, if you shop around, you may be able to find a bank willing to give you a home equity line of credit.

**Selling A Home And The Due On Sale Clause** If you are selling your home and are not planning to pay off your loan, you should know that your loan probably has a due on sale clause. The due on sale clause allows the lender to call the loan due. The lender can accelerate the payments owed and force you to pay off what is owed on the loan. If you are the lender on a loan and your borrower sells the property without getting your permission, you should make sure your loan documents have a due on sale clause.

**HUD Revised Streamline Refinance Transactions** Streamline mortgage refinance applications will be undergoing some changes. Under the HUD revised streamline refinance, there are changes to the mortgage seasoning, payment history requirements, and verification of assets, employment and income. For a streamline refinance without an appraisal there will be a new maximum mortgage amount, and under the HUD revisions, there is is maximum combined loan-to-value amount for the streamline refinance. Read the full letter below for more details on the changes to HUD streamline refinance applications.

Ilyce Glink Show Notes - November 15, 2009. Today on the show, we discussed the new Fannie Mae Deed For Lease Program in Detail; the new CreditKarma Survey on credit card debt; The October 2009 Realty Trac Foreclosure survey; Divorce and Mortgages; Mike Rose, a senior loan officer with Bank of America, came on to talk about some of the new mortgage rules with regard to divorce and FHA; Peggy Abkemeier, President of Rent.com discussed a new survey of investment property owners. NEW EBOOKS ON INVESTING IN REAL ESTATE; EBOOK SPECIAL.

**Investment Property Short Sale Generates Phantom Income** When an investment property is sold as a short sale, it generates what is known as "phantom income." The IRS looks at the difference between what the property is worth and what your sold it for in the short sale as income. You should receive a 1099 for the phantom income generated by the short sale of the investment property.

**Should I Refinance My Mortgage?** Mortgage interest rates keep falling, now below 5 percent. Should you refinance your mortgage? It's more difficult to get a mortgage refinance in today's lending market, but it might be worthwhile to try to refinance your mortgage. Will it reduce your monthly mortgage payments? Will a mortgage refinance shorten the term of your loan? You need to determine why you want to refinance your mortgage to determine the best refinancing scenario for your loan.

**Loan Modification Help: Get Some Answers From The Bank CEO** Are you in loan modification hell? Like thousands of other people, this reader has filed for a loan modification, but can't get any answers about the future of his loan modification from his lender. The banks are swamped with loan modifications and foreclosures right now, but you deserve answers about the future of your loan, too. If you're not getting anywhere by calling customer services lines and other options, try using the format below to document your loan modification situation and get some answers from the bank CEO.

Taylor Bean & Whitaker Customers Still Waiting for Answers. Think Glink has reported for weeks now that former Taylor Bean & Whitaker customers would get answers after the Oct. 31 deadline, by which new loan servicers were to have sorted out who would take what Taylor Bean & Whitaker loans. While there has been some progress made, Taylor Bean & Whitaker customers are still waiting for many answers.

HUD Secretary Donovan and FHA Commissioner Stevens briefed leaders on the FHA's financial outlook today, in coordination with the release of its annual independent actuarial study. The study found the capital reserve ratio to be 0.53 percent of total insurance in force this year, well below the congressionally mandated threshold of two percent. The FHA holds $31 billion in total reserves today. Robert Ryan was introduced as the FHA's first-ever Chief Risk Officer. Ryan will focus on understanding risk to the FHA's insurance fund and develop policy responses that address that risk.