Should I Refinance my Adjustable Rate Mortgage Now or Wait for the Interest Rates to Drop?

Selling / September 15, 2015

With interest rates on the rise, many people are wondering if they should refinance their adjustable rate mortgages (ARMs), especially since about one in four mortgages will have their interest rates reset in 2006 or 2007. This means your interest rate is adjusting, and probably sooner than you think, especially if you’re holding 2/28 or 3/27 hybrid ARM. You know your payment

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How to Stay in Your Home Mortgage Free For a Very Long Time – Techniques They Don’t Want You to Know

Homes / September 14, 2015

It is all over the news: The president will announce some strategies to improve the Mortgage refinancing program. Unfortunately the new improvements will not improve the chances of the regular homeowner who is facing the possibility of foreclosure. We all know the big failure of the infamous mortgage modification plan. It did not work the way it was planned. Obviously with all the requirements

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Your Paying 161% Interest For Your Mortgage!

Homes / September 8, 2015

You read the title correctly and you’re not in a deep sleep having a nightmare. I am sorry that you had to find this out from some stranger but this is a Truth. I am in the mortgage business and when I discovered this I almost fell of my chair. For example if you have a 200,000.00 for a thirty year term at 6% and pay it to full maturity the effective interest rate will be 161%.

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Why Refinance a Mortgage?

Homes / August 23, 2015

Homeowners typically choose to refinance their home in order to get a lower interest rate, get smaller monthly payments, or to change the length of their mortgage. There are several reasons a homeowner would look into refinancing a mortgage. Probably the most popular reason homeowners refinance is to get a lower mortgage interest rate, and a smaller monthly payment. Always be sure to know all up the up front

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Who Owns Your Mortgage Loan?

Mortgage / August 16, 2015

Most people make their mortgage payments each month without paying much attention to the lender’s name on the statement. Sometimes a notice will come in the mail, alerting them that their mortgage is being handled by a new company-but the payment amount remains the same. So what difference does it make? Not much-until the relationship gets more complicated.

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Colorado Home Mortgage Loans: 3 Things to Look for in a Lender

Mortgage / August 7, 2015

Selecting a good home loan lender in Colorado requires a little research. There are many types of lenders operating within the state. These include traditional financial institutions such as banks and credit unions. Furthermore, applicants can apply with mortgage companies. Regardless of chosen method for obtaining financing, borrowers must consider several factors when looking for a lender. Trustworthy

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The Decision Making Requirements for a Second Mortgage Refinancing

Selling / July 28, 2015

With lower interest rates the industry standard for real estate, taking out a second mortgage instead of refinancing the first mortgage has become more popular in recent years. A few years ago the average person was able to purchase a home at an 8.5 to 10 percent interest rate. These people stand to gain by refinancing at a rate that is now at 7 percent or less. It is advantageous to take a longer term mortgage

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How to Appraise Your Current Home or Home You Are Going to Buy At True Market Value

Homes / July 16, 2015

Home appraisals, although used in many instances, are designed to determine the true market value of the property in consideration. Market value is how much the property is worth according to what type of property it is, what condition it is in, and other properties similar to it in the immediate area. The only problem with home appraisals is that they can often differ greatly among

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How to Get Bank of America Loan Modification Application Approved – Tips For Loan Approval

Mortgage / June 21, 2015

Every day Bank of America receives hundreds of applications for loan modification but not all of them get approved. Many genuine applications are rejected on a daily basis because of one reason or some other. But when we say genuine application, it means that the case is real. So where is the problem? The problem is lack of knowledge about the loan approval process. Getting

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Homeowner’s Grants

Selling / June 13, 2015

Sophisticated scam artists present their “service” for getting a homeowner’s grant for free in any possible medium for you to see accompanied by an attractive call for action from you for more information. Others are more audacious and blatantly call you with an offer without warning. “Because you pay your income taxes on time, you have been awarded a $12,500 homeowners grant! To get your

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