Information on Mortgage Loans, Short Sales, and Foreclosures
Different Types of Mortgage Loans
- Loan Criteria - There are different types of loans out there. Which one will you qualify for when buying your next house?
- Balloon Loans - Are They Right For You? - When buying a home, there are a lot of loan products offered by banks and other lending institutions. Is a balloon loan right for you?
- Understanding Adjustable Rate Mortgage Loans - When shopping for a home loan, check to see if an ARMs could be right for you.
- What is a Reverse Mortgage? - This type of mortgage is very popular with retired homeowners. But, make sure you read all the facts first before you dive into this type of loan.
- What is a Loan Modification - A loan modification is another method you can use to avoid a foreclosure. Read this article to see if a loan mod can save your house.
- How to Apply for a Loan Modification - If you are going to approach the bank regarding a loan mod, make sure you know how to apply for one.
- VA Loans - Benefits and Qualification Requirements - Military veterans have access to a wonderful loan product supported by the federal government.
- FHA Loans - Everything You Need to Know - If you are unable to qualify for a conventional mortgage loan, you might want to think about applying for an FHA loan.
Understanding a Mortgage Loan
- What is the Real Cost of Your Loan? - This article shows you how a mortgage broker really makes his money on your loan.
- Hidden Costs of a Mortgage Loan - Besides the upfront costs of a mortgage loan, you also need to be aware of the hidden costs some lenders try to add to your home loan.
- What is PMI and Mortgage Points? - You need to understand these costs when buying a home. Find out how PMI and mortgage points can factor into the cost of buying a house.
- Truth in Lending Statement - This statement outlines fees and costs associated with your loan. See how to read this statement.
- Uniform Settlement Statement - Or commonly called HUD-1 Form, itemizes all charges to be paid by a borrower and a seller at the settlement.
- Broker vs Banker - When getting a mortgage, which is better to use - a broker or a banker. We will tell you the difference between the two.
- Why Does the Bank Keep Selling My Loan? - Do you keep getting notices in the mail that a new lending institution now controls your loan? Find out why.
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How Your Credit Affects Your Mortgage Loan
- Smart Ways to Buy a Home if You Have Bad Credit - If you have bad credit, we have some suggestions for you to clean up your credit so you can qualify for a home loan.
- Should I Buy a Home with Bad Credit? - Having bad credit does not mean you can not buy a house. We will show you how.
- What is "A" Credit? - Learn how to rate your credit score to see if you have a tier one credit rating.
Articles on Shorts Sales and Foreclosures
- Short Sale Can Be An Alternative to Foreclosure - If you are upside down on your mortgage, a short sale might be a good alternative to going through a foreclosure.
- Facing Foreclosure - Consider These Alternatives - Many homeowners are facing a foreclosure on their home. We have some tips on how you might be able to avoid a foreclosure.
- Find Help Using the "Hope Now" Initiative - This is a relief initiative signed by President Bush to help homeowners who are upside down on their mortgages.
- Beware of Mortgage Relief Scams - We have seen more and more reports of people falling victim to mortgage relief scams. Don't become the next victim, read this article if you are behind on your mortgage payments.
- Are you Eligible for an IFR Settlement Payment? If you lost your house due to a foreclosure, find out if you are eligible for an Independent Foreclosure Review Settlement.
What Can Affect Your Mortgage Loan?
- How to Pay Off Your Mortgage Early - Save thousands in interest by paying off your mortgage early using some of our payment techniques.
- Underwriting Guidelines - What banks and other lending institutions use to rate you as a borrower.
- Should I Lock My Rate - There are definite advantages to locking in your interest rate when applying for your mortgage loan.