The mortgage settlement process--sometimes called mortgage closing--can be confusing. A settlement may involve several interested parties and a variety of documents and fees. This guide helps you understand the steps involved in the settlement process. Although the focus here is on settlements for home purchases, much of the guidance will also apply if you refinance a mortgage...
Table of Contents
Have interest rates fallen? Or do you expect them to go up? Has your credit score improved enough so that you might be eligible for a lower-rate mortgage? Would you like to switch into a different type of mortgage? The answers to these questions will influence your decision to refinance your mortgage. But before deciding, you need to understand all that refinancing involves. Your home may be your most valuable financial asset, so you want to be careful when choosing a lender or broker and specific mortgage terms. Remember that, along with the potential benefits to refinancing, there are also costs...
Table of Contents
This website gives you an overview of ARMs, explains how ARMs work, and discusses some of the issues that you might face as a borrower...
Table of Contents
Providing the information below will allow you to calculate how much you can afford to spend on a home. However, many additional factors play a part in the loan qualification process.
Table of Contents
Si usted no paga su hipoteca en fecha o si paga un monto menor a su mensualidad, usted incurre en incumplimiento de pago de su préstamo. Las consecuencias del incumplimiento de pago pueden ser costosas. La Comisión Federal de Comercio (Federal Trade Commission, FTC), la agencia nacional de protección del consumidor, dice que es importante entender los costos que tiene el incumplimiento de pago. La agencia también destaca que si está teniendo problemas para cumplir con los pagos de su hipoteca, se comunique lo antes posible con el administrador de su préstamo para hablar sobre sus opciones. Cuanto más tiempo se tarde en llamar, menos opciones tendrá...
Table of Contents
Cuando usted obtiene un préstamo hipotecario, es posible que piense que la entidad de préstamo conservará y administrará su préstamo hasta que termine de pagarlo o hasta que venda su casa. Frecuentemente no es así. En el mercado actual, los préstamos y los derechos de administrarlos se compran y se venden con bastante frecuencia. En muchos casos, la compañía a la cual usted le envía sus pagos no es la compañía dueña del préstamo. Una casa es una de las compras de más valor que usted haga en su vida, por eso es importante que sepa quién administra sus pagos y que se los acrediten correctamente a su cuenta hipotecaria. La Comisión Federal de Comercio (Federal Trade Commission, FTC), la agencia nacional de protección del consumidor, quiere que usted sepa qué es lo que hace un administrador de préstamos hipotecarios y cuáles son sus derechos como prestatario...
Table of Contents
Owning a home is part of the American dream. But high home prices may make the dream seem out of reach. To make monthly mortgage payments more affordable, many lenders offer home loans that allow you to (1) pay only the interest on the loan during the fi rst few years of the loan term or (2) make only a specifi ed minimum payment that could be less than the monthly interest on the loan...
Table of Contents
The Federal Deposit Insurance Corporation has created a guide on how to recognize and protect yourself from mortgage rescue scams. Please see the attached for more information.
Table of Contents
Cómo ahorrar al preparar la decla rac ión de impuestos Estas son algunas formas de no tener que sacar un préstamo sobre el reembolso de impuestos anticipado y además ahorrar dinero cuando prepara la declaración...
Table of Contents
If you’re 62 or older and looking for money to finance a home improvement, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses, you may be considering a reverse mortgage. It’s a product that allows you to convert part of the equity in your home into cash without having to sell your home or take on additional monthly bills...
Table of Contents
The Consumer Financial Protection Bureau created a "Shopping for Your Home Loan" guide for persons looking to buy home. This guide includes tips and advice before you purchase a home or settle on a home loan company.
Table of Contents
Are you considering a reverse mortgage? Better look before you leap. While a reverse mortgage could put money in your hands, the transaction is likely to be quite confusing. A reverse mortgage deal could also put a lot of your money in someone else’s pocket. Still, if you are a senior and a home owner and short of cash to make ends meet, a reverse mortgage can be a lifesaver. That’s because a reverse mortgage taps your home equity – that’s the market value of your house minus the outstanding balance on any existing mortgages – for cash.
Table of Contents
Refinancing is a process in which you pay off one or more existing debts with a new home loan. If you have perfect credit, refinancing is sometimes a good way to obtain a lower interest rate or to convert a variable rate loan to a fixed rate. However, if you are in the midst of financial difficulties, if you have too much debt, or if you have bad credit, refinancing is loaded with pitfalls. We recommend that you be very careful when
refinancing debts. Many refinancing loans hurt consumer. Here are twelve things to consider before refinancing...
Table of Contents