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.
If you’re nearing retirement and still carrying a mortgage you’re probably worried about managing your mortgage payments in retirement. And, who could blame you? A new survey by the American Institute of CPAs found that retirees’ biggest concern is running out of money, and your monthly mortgage payment, which typically includes your real estate taxes [...]
Got the wrong address on your mortgage documents? Don't worry too much about a typo on your mortgage documents. Q: My mortgage documents list my property address incorrectly. It's a small typo. The lender misspelled the name of my street. Will this cause me problems when it comes time to sell my property? I can’t [...]
Have you moved and decided to rent out your old house rather than sell it at today’s depressed prices? Are you renting out your vacation property? Did you buy a foreclosure or short sale with a residential mortgage and—after you fixed it up—begin renting it out while waiting until you can sell it and make [...]
Mortgage interest rates are rising. But it's not too late to refinance your mortgage and hit a home run while you do it. While interest rates aren't quite at rock bottom, it's still a great time to refinance. If you have the ability to refinance, do it. Even if you have already refinanced, if you can [...]
When you inherit property with a mortgage, paying off that mortgage loan is the responsibility of the estate, not the heirs. If the estate lacks the money to pay off the mortgage and the bank decides to foreclose, it should not negatively affect the credit histories of the heirs. While the heirs could do a deed in lieu of foreclosure with the mortgage lender, that action would not affect the original mortgage loan whose non-payment triggered the foreclosure to begin with.
It's not that simple to just add a name to a mortgage. To add your name to a mortgage, you would have to be one of the owners of the home. Depending on the reasons, it might not be necessary or beneficial to add a name to a mortgage loan.
Which type of mortgage is right for you? There are many types of mortgage loans, from the traditional 30-year fixed-rate mortgage to hybrid loans and interest only loans. What does each mortgage loan program offer? Learn more about the different types of mortgage loans in this Expert Real Estate Tips segment.