In order to gain a good understanding of how reverse mortgages (also known as reverse equity mortgages or loans) work, collecting as much reverse mortgage information as possible is a crucial process. Sources There are many places for obtaining information on reverse mortgages. The most reliable, with the most up-to-date information are: Housing and Urban...
Mortgage
Looking for info on mortgages and home loan resources? Check out these articles to learn more about the different types of mortgages available. You’ll also find helpful advice and useful tips about refinancing, home equity loans, mortgage brokers, interest rates, and foreclosures.
If you are looking to purchase a home, the ability to read and understand a mortgage rate sheet is crucial to understanding mortgage rate quotes. Mortgage Rate Quotes and Mortgage Rate Sheets Typically, a rate sheet will give you an overall rate, calculated using a standard loan amount. For instance, if you are looking at...
With the recent economic punch in the gut the nation is experiencing, handling our mortgages seem to be a little difficult than before. Due to layoffs and downsizings, many people have either lost their jobs or have taken big pay cuts, forcing some to fall back on their mortgage payments. The F-word is a scary...
When buying a house, many borrowers are concerned with mortgage associated costs, such as interest, monthly payments and fees. These mortgage associated costs can total a large monthly payment; conventional wisdom suggests that a homeowners mortgage payment should total between 25-33% of gross monthly income. Therefore, understanding these mortgage associated costs is essential. What are...
If times are such that you are in danger of missing mortgage payments, there are actions you can take to prevent and stop foreclosure processes, but you must act quickly. The most important aspect of avoiding foreclosure is not to ignore the problem. Once you acknowledge the problem, you can begin taking corrective action so...
Visiting a home mortgage lender when you want to buy a house is not always the right decision for every borrower. Whether you find yourself in an unusual credit and income situation or you simply prefer a less institutional lending arrangement, you have options to make your home ownership dream a reality. Knowing the difference...
For many Americans, their home is an asset they cherish. This makes is difficult when older homeowners realize they need to sell their homes in order to benefit from the equity they’ve accrued over the years. Using a HUD reverse mortgage is one way for homeowners to gain freedom from mortgage payments and the use...
There are many questions surrounding the issue of mortgage refinancing: who should refinance, why is refinancing a good idea, when is the best time, and how to go about refinancing. The following tips may be of some help. Who should refinance A homeowner can consider refinancing for several reasons. Some of the most common are:...
When you get behind on your mortgage payments, it’s natural to avoid thinking about the problem as long as you can because no one likes the idea of losing their home. Foreclosure is, however, a possibility if you’re in this situation. Keep in mind that you can avoid home foreclosure as long as you pay...
For seniors (62 or older) who have built up the equity in their home, a reverse mortgage is a way to tap into that resource. A reverse (or lifetime) mortgage is a type of loan releases equity in a lump sum, and the obligation to repay the debt is deferred until the homeowner dies, sells...