By: Art Of Saving Home Loans Views: 3094 | Comments: 0 | Votes: 0
A home equity line of credit means a homeowner can use his home as collateral for a loan. In other words, your home can be a source of credit to pay for education, purchase of a car, retirement plans or improvement of home. The bank or the institution will provide you the detailed information as to how you can make use of HELOC. Interest rates are subject to change now and then. More
By: Frugal World Home Loans Views: 3037 | Comments: 0 | Votes: 0
Relative to the growth in home prices over the last few decades, Americans are earning less and therefore they are saving less. PMI is a financial guaranty that protects the lender against any loss in the event the borrower should default as well as allowing the borrower to make a lower down payment. Such mortgages are increasingly in demand in today's home market. More
By: Academix Home Loans Views: 2984 | Comments: 0 | Votes: 0
There has been a lot of talk about mortgage refinancing over the last couple of years. One thing that you need to bear squarely in mind when considering doing this is that you must be prepared to pay your costs at closing. This is very similar to what happened when you initially purchased your home. Any money owing for this service will usually be paid at the point of settlement. More
By: Kenneth R. Harney Home Loans Views: 2921 | Comments: 0 | Votes: 0
Home buyers and refinancers face higher fees for credit reports this year – a price boost that has mortgage, credit industry and consumer group leaders fuming. Some believe that the higher fees will have an inordinately heavy impact on moderate-income and minority first-time mortgage applicants who have nontraditional credit patterns, marginal credit scores or “thin” credit files. More
By: Kenneth R. Harney Home Loans Views: 2861 | Comments: 0 | Votes: 0
When an investor offers you $50,000 or $100,000 in exchange for 30 percent to 50 percent of your home's future appreciation, is it a good deal? That's what a new breed of investment firms is promoting as an alternative to traditional home equity loans, lines of credit and reverse mortgages. Two of the investment companies – REX & Co. Absolutely. That may suit you just fine. More
By: Goldfish Home Loans Views: 2796 | Comments: 0 | Votes: 0
Many consumers age 62 or older are "house-rich and cash-poor" — their mortgages are paid off, but they are living on fixed or limited incomes. A "reverse mortgage" may allow some consumers to take advantage of their home as a valuable asset and convert it to a source of income without losing home ownership. To qualify for a reverse mortgage, you must own your home. and abroad. More
By: Tax Advisors Home Loans Views: 2462 | Comments: 0 | Votes: 0
On February 18, 2009, President Obama announced his Making Home Affordable Program (MHA), designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages. For more detailed information, visit MakingHomeAffordable.gov. More
By: Miles Loss Home Loans Views: 2406 | Comments: 0 | Votes: 0
How does mortgage fraud affect you, as a borrower?I am sure you see all the news in the media about the mortgage industry but how is all that related to you? First and most importantly, the information on your application must be accurate and factual to see if you do actually qualify for a loan. The purpose is not to stop you from obtaining a loan. More
By: Kenneth R. Harney Home Loans Views: 2371 | Comments: 0 | Votes: 0
WASHINGTON – If you're applying for a loan to purchase a primary or secondary home, or planning to refinance, you should be aware of a little-publicized new set of federal consumer-protection rules that take effect July 30. If you don't get them, you can pull the plug. You'll now have up to a week to think about the transaction, and decide whether it's right for you. More
By: Goldfish Home Loans Views: 2341 | Comments: 0 | Votes: 0
Using a credit line to borrow against the equity in your home has become a popular source of consumer credit. And lenders are offering these home equity credit lines in a variety of ways. You will find most loans come with variable interest rates, some come with attractive low introductory rates, and a few come with fixed rates. No one loan is right for every homeowner. and abroad. More
