Category Archives: Mortgage
It is a hard life after retirement, especially after the recession hit the world. Although a crisis can hit any person anytime, but the difference lies in the fact that at a young age you have the physical and mental strength as well as the capability to face any obstacles that threatens to unsettle your life. The most important thing is you have a job or at least the ability to work. But when you are old and retired from your job, you neither have the physical strength nor the mental abil......
A credit report is a history of how consistently you pay your financial obligations. It is created when you first borrow money or apply for credit and is built over time.
The companies that lend or collect money or issue credit cards (banks, finance companies, credit unions, retailers, etc.) send credit reporting agencies specific and factual information about their financial relationship with you. Details pertaining to when you opened up your account, timeliness of your payments and if ......
As we all know about the “robo signing” and the possibility many homeowners lost their homes without the lenders following the right foreclosure process. In a possible landmark decision, in the highest court in the state of Massachusetts, the Supreme Judicial Court this past Friday January 7, 2011, U.S. Bancorp and Wells Fargo erred when they seized two homes and foreclosed on the homes in 2007. The court reversed the foreclosures and has returned ownership back to the homeow......
Continued doubts in our economy shutter the housing market and weaken the outlook on a positive 2011. After dragging the US economy into a major recession, property markets across the country are now relying on an economic recovery to help cure the housing market.
Foreclosures will continue well into the 2011 year and perhaps for the next few years. The glut of unsold homes on the market needs job growth to put consumers back into the stores and to bring back consumer confidence. Talk ab......
FHA loans have allowed Americans to buy property which was not in their range at a very cheap price. It deals with the mortgage assistance. The citizens are allowed to borrow money to buy a property. Any lender who is officially qualified can apply for the FHA loan. The seeds of the FHA loan were sown as early as the 1930s when economic crisis had hit a major low in the United States of America. This period is commonly known as the Great Depression. Foreclosures and Defaults became a regul......
If you expect your income to increase a fair amount over the next few years, or you do not plan on staying in your house for very long, a balloon mortgage could really help you out. With a balloon mortgage, your payments are lower than what you could normally get for the first 5-7 years. Your lower interest rate is fixed during that time, so your payments stay the same. However, after about 5-7 years, you would either need to refinance, or get a new mortgage loan. By then, interest rates c......
The big question every potential home buyer asks is what is the trajectory of interest rates – are mortgage rates going to go up soon? Depending on who you ask, you can get very different answers.
30 year fixed mortgage rates were climbing steadily in 2008, but in the last two to three years, since the financial meltdown, they have stayed unusually low. Dips and rises have been seen here and there, but for the most part, the 30 year fixed mortgage rate, which is the ruler against w......
So actually, if you as a senior think the reverse mortgage refinance, how does a reverse mortgage work or what you have to do and is this arrangement wise to do? What about the costs and the timetable?
1. The Target Is Usually The Lower Monthly Payments.
The reason to start a refinance process can be, that a senior has a fixed rate policy and he sees, that the interest rates are much lower, than what he is paying. He wants to change into the variable rate policy. This can or cannot be w......
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