The expansion in the real estate market has allowed many Americans to become “equity rich.” They may not have much money on hand, but they may have equity in their homes worth several hundred thousand dollars or more. Unfortunately, this increasing wealth gave birth at home as equity...
In the United Kingdom there are two main mortgages that people choose between when purchasing their home. Other options are available but for the large majority of people, it is one of either the fixed-rate mortgage or the adjustable-rate mortgage which is best suited to their...
According to Experian, a credit score is a number lenders use to help them decide: “If I give this person a loan or credit card, how likely is it I will get paid back on time?” The information from your credit reports is used to create your credit score.
Before getting a line...
A big part of getting approved or rejected in the mortgage process lies in your ability to make rational, unemotional decisions. It’s essential that you separate yourself from the emotional issue of getting a house and approach the whole process like a business.
People get a bit...
As an older American you can turn to “reverse” mortgages to seek money to pay off your current mortgage, finance a major home improvement, supplement your retirement income, or to pay for those unexpected health care expenses. These type loans can allow you to convert part of the...
With the concept of vanity, many people are now despising the fact that whatever is beautiful are the only ones that are accepted in the community. Hence, they uphold the rights of equality and contend that life will never be balance without the negatives live side by side with the...
A mortgage is a kind of an agreement made to pay the money, which was loaned, to a person by keeping the house as collateral. Mortgage is a promise made to pay the debts by putting it in writing basically. Mortgages have terms and interest rates which are either adjustable or...
Where does mortgage money actually come from? When you get a $500K mortgage, who actually writes the checks? Most people have no idea. Does it come from a bank? Does it come from the government or some large quasi-governmental agency like Fannie Mae or Freddie Mac? It all seems so confusing and...
Mortgage – Provides you the Best Deal against your home
You must have read or heard about the word Mortgage, but dont know what it means or stands for and how it can help you to make the best use of your property. So keep reading.
The word Mortgage refers to a contract in...
What your banker wont tell you
This summer could be a foul season for many consumers followed by tumultuous times for the remaining years. The quadruple jinx of rising interest rates, higher credit card minimum payments, erratic fuel costs, and depressed home values could be the calamity...
When you apply for a refinance, debt consolidation or purchase mortgage, one of the most important factors in qualifying for the loan is your income. That may not seem like much of a surprise, but you may be surprised at all of the different ways your income can be calculated based on how well...
Debt to Income Ratios, often referred to as DTIs, are a key calculation used in the refinance, debt consolidation, and purchase mortgage application process. A debt to income ratio is arrived at by dividing your monthly debt payments by your pre-tax income. Debt to income ratios are finally used...