More consumers than ever before are choosing to work with mortgage brokers instead of going through their local bank or an online lender. But, are you aware of what a mortgage broker does? Do you know the advantages and / or the disadvantages of using a mortgage broker? Mortgage brokers acquire loan money from a […]
Interest Only Mortgages
Interest only mortgages have soared in popularity in recent years. As housing prices skyrocketed, many buyers found that the only way they could afford to get into the house of their dreams was to choose an interest only mortgage. This was especially true in regions of California and the Northeast US, where housing prices are […]
Fixed Rate Mortgages
When you are applying for a mortgage, one of the decisions you will have to make is whether you would prefer a fixed rate mortgage or one with an adjustable interest rate. A fixed rate mortgage is exactly what it implies. The interest rate on the mortgage is fixed through the life of the loan. No matter […]
BiWeekly Mortgage
When you own your home and are making monthly mortgage payments, you may receive a lot of offers to obtain a home equity loan, or to refinance your present mortgage or to make the switch to a biweekly mortgage. The bank will explain that by opting for a biweekly plan it will cut somewhere between 5 to 7 years off […]
Reverse Mortgages
A few years ago, my mom and dad were in a tough spot financially. Living off of a small pension and an even smaller Social Security Check, they were having trouble keeping up with their bills. They were still paying off their mortgage and a home equity loan they had taken out for some much-needed […]