Are Interest Only Loans Bad?

In my six years in the mortgage business, I have often encountered potential borrowers who are afraid of interest only loans. In a society built on fear, this does not surprise me. To alleviate the fear, let’s start with the basics. With a traditionally amortized loan, the borrower makes a principal and interest payment each month. (click for Full Story)

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Reverse Mortgages - The Mystery Revealed - The loan for senior citizens

Reverse mortgages are back. If you are a senior citizen with equity in your home, and you need some extra cash to maintain your well deserved quality of life, the reverse mortgage might be for you. For those sons and daughters out there of senior parents who might qualify for this loan, do not fear, there will still be equity left in the home and your parents will not lose their home at the end of the loan. (click for Full Story)

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Do you really win when your online mortgage application is sold to many companies?

Oh Really? When you fill out an internet form for mortgage interest rate comparison website, you will have lenders competing but they may drive you crazy in the process. What you don’t hear about in the advertising is that you will be bombarded by aggressive sales people all trying to earn your business. Unless you like to talk to sales people in your spare time, the process will drive you nuts. In theory it makes great sense.(click for Full Story)

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Are You a Homeowner? Get A Home Equity Line of Credit

The cheapest money is the money you can get when you do not need it. Most folks wait until they need something to get it. This can be a dangerous thing to do when it comes to making sure you have access to the cash available in the equity of your home. Even if you are not going to use the cash, get the line of credit set up in case an emergency comes up and you need it. (click for Full Story)

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What Is A No Cost Mortgage - Can I Really Get A Mortgage For Free?

Do not be lured in by No Cost Mortgage advertising unless you know what you are looking for. All mortgages have closing costs. It is just that some types of lenders absorb these fees by charging you a higher interest rate.(click for Full Story)

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I Am Waiting For Mortgage Interest Rates To Go Down Before I Refinance

Although prudent in a normal mortgage and real estate market, waiting to refinance to see if interest rates are going to go down more could cost you your home. Find out why! (click for Full Story)

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Get the Lowest Mortgage Rates – Can I Really Get The Best?

Shopping for the best mortgage rate seems to be the most important factor in selecting a mortgage company to work with. Unfortunately, many home buyers and home owners get into trouble because they discount the other important factors about a loan.(click for Full Story)

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