Appraisal
- By Admin
- October 23, 2014
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In most cases, lenders require a professional, independent appraisal of the property you want to buy or refinance to ensure that it is worth at least as much as they … Continue Reading →
Interest Only Mortgage
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- August 28, 2014
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Interest-Only Loans are a relatively new loan program. Before the 2007 financial meltdown, it was favored by property buyers looking for the lowest monthly installments, because interest-only mortgages, as the name … Continue Reading →
What is a Home Equity Loan?
- By Admin
- June 17, 2014
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What is Home Equity? Home Equity is the portion of the house value a homeowner actually owns. It is the value of the house minus any liens and mortgages. In … Continue Reading →
Reverse Mortgage and HECM
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- May 28, 2014
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A reverse mortgage is a type of home loan that lets you turn a part of the equity in your home into cash. The most popular reverse mortgage program is the … Continue Reading →
Condominium Mortgage More Difficult to Get?
- By Admin
- October 30, 2013
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Condominium buyers seem go through a more stressful mortgage process than single family homebuyers. This is due to the fact that, in addition to the loan borrower being scrutinized, the … Continue Reading →
JPMorgan Said To Be Fined $13 Billion In Toxic Mortgage Bonds Sale
- By Admin
- October 23, 2013
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JPMorgan Chase & Co, America’s largest bank by asset, is said to have reached a $13 billion deal with the Department of Justice for its role in selling toxic mortgage … Continue Reading →
HELoan vs HELOC
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- October 18, 2013
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Home Equity Loan and Home Equity Line of Credit (HELOC) are mortgages which use a house as collateral. Unless there is currently no mortgage on the house, home equity loan … Continue Reading →
What is Annual Percentage Rate (APR)
- By Admin
- October 11, 2013
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There are many costs associated with taking out a loan. The interest rate is one of those costs. There are also charges, such as application fee, underwriting fee, and points … Continue Reading →
Loan Amortization
- By Admin
- September 30, 2013
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Amortization is a fancy way of describing the process of paying off a loan in equal installments over a period of time. When a loan is calculated to be paid … Continue Reading →