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 or her 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 — This form is also called a HUD-1 Form and 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 show 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.
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 quickly 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 — If you are facing a foreclosure on your 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 Interest Rate? — There are definite advantages to locking in your interest rate when applying for your mortgage loan.
Tools You Need When Buying a Home
Homebuyer's Dictionary — Home buying jargon can seem a bit foreign. Refer to our list of commonly used terms in the mortgage business and what they mean.
Mortgage Calculator — Our FREE mortgage calculator will show you your monthly payment with a few inputted values.