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Mortgage

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.

You need to consider the fees and closing costs that you may be charged in obtaining a mortgage, the length of the loan and the amount of the loan. In addition, while the interest rate you obtain is quite important, you need to understand all of the other issues involved in obtaining a mortgage loan for your home or investment property.

Take a look at our hundreds of articles on our site. Some of these articles are listed below. These articles relate to obtaining a mortgage, finding a low interest mortgage loan, the difference between a fixed rate or ARM loan, whether to pay points to buy down your interest rate, and avoiding prepayment penal

Pay Off Mortgage Before Retiring

By | May 25th, 2007|

A homeowner is thinking about paying off his mortgage before he retires later in the year. Refinancing the mortgage would be better due to the large tax bill he would have to pay to remove money from his retirement account. A fee-only financial planner can help work out how to best pay off the mortgage and discuss the impact of the interest deduction on his income taxes by keeping the loan, the costs in terms of income taxes paid by him for withdrawing the money from the pension plan, and planning for his retirement.

Mortgage Lender Must Disclose Prepayment Penalty

By | May 3rd, 2007|

Always read and understand all your mortgage closing documents. Even if you're not aware that your mortgage has a prepayment penalty, if you sign the loan documents you're responsible to pay it. A prepayment penalty can kick in when you sell your home or when you refinance - whenever you pay off your old mortgage loan.

What Do Rising And Falling Interest Rates Mean To The Average Borrower?

By | April 10th, 2007|

Many people in the financial community spend a lot of time anticipating what the Federal Reserve Bank is going to do with regard to interest rates. How do rising and falling interest rates impact you? Here's what you need to keep in mind when reading about the Federal Reserve Bank and sub-prime credit rates.

Understand Mortgage Before Signing Papers

By | February 21st, 2007|

Never sign a mortgage document unless you understand exactly the terms of the mortgage. A home owner refinanced into an adjustable rate mortgage that has a growing interest rate she can no longer afford. The fine print of real estate contracts will tell you exactly what to expect for the life of your loan.

Mortgage Lenders Use Ratios To Set Mortgage Amount

By | January 6th, 2007|

Are you applying for a mortgage? Mortgage lenders use a variety of ratios including the front-end, back-end and loan-to-value ratios to determine if you can afford the mortgage. Learn how these ratios are used to assess your ability to pay back a mortgage.

Implications Of Co-Signing Loan

By | November 13th, 2006|

Co-signing a mortgage loan my bring interest rates down for the borrower, but being a co-signer isn't without risks. Co-signing on a mortgage loan but not being on the title of the property is more of a risk than a benefit for the co-signer.

How to Protect Yourself Against a Bad Lender

By | October 26th, 2006|

Summary: A reader has a new mortgage that has already been sold to a company with a terrible reputation. Ilyce explains what steps s...

Mortgage Interest Rates Reflect Loan Risk

By | September 20th, 2006|

Studies have shown that consumers pay too much for their mortgages. Learn how mortgages are priced and why some borrowers get mortgage loans with higher interest rates than others. Mortgage loan interest rates take the riskiness of the loan into account.

Loan Servicing Agreement Is Standard

By | September 19th, 2006|

A reader was wondering if he had to sign the loan servicing agreement as part of the mortgage closing process. Ilyce explains that the agreement describes what happens if the loan is sold and is a standard part of all mortgage deals.

Getting Transaction Statement From Mortgage Company

By | September 15th, 2006|

A mortgage company shouldn't refuse a borrower's request for a detailed transaction statement. All lenders should give borrowers the statement on an annual basis giving you a statement of your account. If the lender has never given you a statement, refuses to issue you a statement, doesn't have a web site that you can go to and get a statement, then you should complain and complain loudly.

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