Mortgage Banks and Brokers everyday are closing home buyers and refinancers at a higher rate than they deserve! This artificial upping of the rate and the revenue created by doing so are hidden from the customer. This hidden ripping-off of the mortgage consumer is called Yield Spread Premium overchaging if the loan is originated by a broker and Service Release…
Category: Mortgage
Reverse Mortgage A Dignified Way For Retirees To Supplement Income And Take Care Of Expenses
For many Americans reaching the retirement age, the equity build up in their home is their only real asset. Reverse mortgage is a way to tap into this asset and create a stream of income needed for retirement or take care of an unexpected financial need that is usually related to health care costs in the elderly. Reverse mortgage is…
Getting 100 Financing With Bad Credit Is No Down Payment A Good Idea
Getting 100% financing with bad credit can get you into a home with little out-of-pocket expense. However, higher rates will make the loan more expensive than financing with a down payment. There are some cases when zero down can be a benefit, especially if you plan to move or refinance soon. The Cost Of Zero Down Zero down will cost…
Mortgages How Much Are You Really Borrowing
How much are you paying back? When considering a mortgage do you consider all of the right questions, for example do you consider which bank is best because of their reputation or do you instead look solely at the interest rate tables, do you look at the ability to switch mortgage provider or do you look at how long they…
Refinancing To Build Your Property Portfolio
The best time to refinance is evaluated according to several factors. These can vary according to the individual but you have to assess your situation. Some of the points that should be considered are listed as follows: -Is the current rate of interest on your mortgage lower than the present interest rate? -Is the interest rate higher than your current…
Foreign Currency Mortgages The Pros And Cons
Virtually all mortgage borrowers go with a mainstream UK lender to make the biggest purchase of their lives, it’s the done thing and to be honest most people don’t realise there is a viable alternative – the foreign currency mortgage. Interest rates are reasonably healthy in the UK at the moment, particularly in comparison with the 1980s, however interest rates…
Selling Your Mortgage Note Fast And Easy
In order to ensure a smooth note transaction, it would be wise, as a well informed note seller, to have the following documents available before submitting you note to a Note Investor for purchase. These are documents that you, your attorney, or your real estate agent should have on file from the sale of the subject property. The documents are…
How To Avoid Mortgage Scams
With record numbers of individuals seeking home loans these days, it’s no surprise that scam artists have developed new ways to separate borrowers from their money. Mortgage scams are on the rise and typically target people who are overextended, have bad credit, or are in need of financial relief. These scams can cost a lot – in fact, they can…
Refinance Mortgage Tips Your Down Payment Is Key
If you are buying a house, the first thing you need to figure out is how much of a down payment you can afford to make. This may seem like the sort of advice your father would give you, but rest assured there are a few reasons why knowing what you can put down and where you’ll get the money…
When To Start Seeking A Mortgage For A New Purchase
You have made the decision to buy a home and start looking at properties. Before you get rolling, you should start trying to find the best mortgage option for your situation. When To Start Seeking A Mortgage For A New Purchase Most people begin shopping for a mortgage at the last minute and settle for the first offer they get.…