Is Reverse Mortgage Good for Your Money? (And Retirement)
While the Federal Reserve is taking their sweet time in raising interest rates, it is denying seniors the investment income they are in need of. On the other hand, taking their time in hiking up the interest rates could help out the older Americans in the long run as... Read more
What to Do After Your Mortgage Application Has Been Denied
Currently, mortgage rates are at a 3-year low, and renters are learning it may be cheaper per month to buy your own home. According to several loan companies, more applicants are currently being approved than at any other time in the last 10 years. Lending standards have loosened up,... Read more
Let’s Break Those ARMs! Busting 3 Adjustable Rate Mortgage Myths
Modern pop culture can create myths out of thin air like no one else can. Only some of the more common include “we use only 10% of the brain” or “don’t swim for 30 minutes after eating.” However, these are just myths and are actually false. After the housing... Read more
Applying for Mortgage: What Lenders Look For
Buying a home can be a real challenge. Usually, you will look at many homes before finding “the one” that’s right for you. Then, it’s time to find a mortgage. Your job is to convince a mortgage banker that you are a good investment. You meet with the lender(s),... Read more
Is It Wise to Prepay Your Mortgage?
Like with most financial decisions, deciding whether it is wise to pre-pay your mortgage is not simple. There really isn’t one solid piece of advice that applies to everyone. Rather, there are a number of factors that should be considered when you are trying to decide whether you should... Read more
Overview of the Home Equity Loan
A home equity loan is a loan where the borrower uses the equity of their home as collateral to borrow money. Your home’s equity is its market value minus the mortgage(s) or other liens against it. When your mortgage is relatively new, most of your monthly mortgage payments go... Read more