Category Archives: Budgeting Your Project

Tips to Help Qualify for Refinancing a House

Depending upon if you purchased your home, refinancing it could possibly be a wise move for your monthly income stream. Lenders are eager to work with customers who already have equity in their homes and can often help homeowners restructure their mortgages to allow for reduced premiums in addition to a lump sum of cash […]

Home Buying Guide: Predatory Lending Practices

Stories of borrowers taken advantage of by unscrupulous creditors pop up in the information frequently, especially in states which do not require the licensing or tracking of mortgage loan officers. This is to be expected, because there are bound to be unethical people in any industry where a person may create a lot of money […]

The Way to Choose a Closed or Open-End Home Equity Loan

Obtaining a loan using the equity in your house is a tough decision, made even harder through having to make the choice between a closed-end loan and a open-end loan. Closed-end loans follow the traditional mortgage arrangement, with currencies given at the loan registering and fixed payments to the loan paid to the creditor monthly. […]

Basis of Land Value

Purchasing land is 1 way to invest in real estate for profit or secure a piece of property at which you can finally construct a house. But land is different from other types of real estate, making it more challenging to evaluate and evaluate for tax purposes. The value of land depends on many factors. […]

What Is Involved in a Brief Sale in Real Estate?

Together with the economic recession and the downturn of the home marketplace, many homeowners have found themselves owing more money for their mortgage than the house is worth on the real estate marketplace. When financial troubles prevent the homeowner from paying the mortgage on time, a foreclosure is roughly 90 days from the first missed […]

How Money is Made by Mortgage Lenders

Lenders are in the company of making money from loans. Mortgage lenders lend straight out of their own funds, so they are different from agents who earn money acting as intermediaries between lenders and borrowers. Lenders can utilize depositor’s funds or they may borrow money from larger banks in a preferred interest rate to finance […]

What Affects the Evaluation Value of a Home?

An expert home appraisal is 1 way a mortgage business may be assured that it's not committing too much money on a property. It’s also the way the possible home buyer can be assured that he's not spending more to get a house than it's actually worth. For between $200 and $400, a house appraiser […]

Could You Do a Cash-Out Refinance With an FHA Loan?

A cash-out refinance is a loan which pays for your present mortgage and gives you extra money to spend after all of the loan costs are all paid off. It’s possible to get a cash-out refinance using an FHA loan. FHA cash-out refinance loans compare well with similar private refinance mortgages, usually providing lower interest […]

What to Do If You Get Behind on Your Mortgage Payments

Most mortgage lenders organize their mortgages so the payments are due on the first of each month. Mortgage lenders typically do not asses late penalties until the payment is 15 days late. Lenders will not report a late pay to the credit bureaus until the payment is a full 30 days late. Misconceptions Homeowners fall […]

Do Banks Earn Money?

Many times the bank to which you create your mortgage payment isn’t really the owner of your mortgage. You may have applied for your loan with a bank, closed it with the same bank and today make your payments to that bank, but that bank may no longer own your loan. Banks frequently sell mortgages […]