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Tag Archive | "mortgage"

Should A Mortgage Be Cleared On Retirement?

There are many people who, upon retirement, receive a lump sum payment. While it could be very tempting to pay off the mortgage, is this really a wise move? The lump sum payment could also be used to pay off loans which have been taken out in the past and which have high interest rates. […]

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Mortgages For Retired People: Can Retired Home Buyers Get A Mortgage?

Ever wondered what a person should do who is currently retired from his or her job but always had a dream of buying a home? If he or she is not actively earning, then is that person eligible for a loan? The answer to this question is very comforting. As per the Equal Credit Opportunity […]

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Newlywed Mortgage Basics

Purchasing a new home together can be a wonderful way to start a new journey of togetherness for newlyweds. This new home will be an abode in which to share beautiful memories and happiness. Buying a new home involves a huge investment; you need to be quite cautious at every step of buying a new […]

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Avoiding Foreclosure When Money Is Tight

Avoiding foreclosure on your home, after a huge investment of your money and time, is the number one priority of the new homeowner. But you can’t have what you want just by dreaming, you need to continue to budget your spending according to what you can afford. You will need to carefully judge the affordability […]

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Balloon Mortgages And When They Make Sense

It sounds a little strange doesn’t it that companies would come up with the name “balloon” to describe a mortgage. However, it makes more sense when you understand what a balloon mortgage is. It allows you to borrow a larger amount, paying only on a percentage of what is borrowed, and then making one “balloon” […]

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Home Loan Financing Basics: How Much Home Can I Afford?

How much home can I afford? That has got to be the question in every potential homebuyer’s mind. Regardless of your savings, credit history or monthly budget, when it comes to home loan financing, it can be tricky to guess at home much home you can afford. Home Loan Financing Gets You Into The Market The […]

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Why Pay Points on a Mortgage?

When you are shopping for a mortgage you will hear the term points and learn that they are an expense that you have to pay up-front, at closing to kick off your home loan. So the question is: Why pay on a mortgage? This is an up-front fee that is common practice but it can be […]

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Avoiding Foreclosure With an FHFA Loan Modification

Avoiding foreclosure is not easy, but an FHFA loan modification can help (FHFA is the Federal Housing Finance Agency.) When you are struggling to meet your mortgage repayments it can take a great deal of work to avoid foreclosure and that dreaded eviction day. A recently federal announcement in March regarding a new loan modification […]

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What is Amortization and How Does Mortgage Amortization Work?

What is amortization? How does it work? Many people have asked these questions and have been offered complex answers that have left them even more confused than before they asked. Here is as simple an explanation as you are likely to get, particularly with reference to mortgage amortization Mortgage Amortization Fundamentals When you take a […]

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Mortgage Loans: Types of Mortgage Lenders and Loan Officers

Mortgage loans are available from different types of mortgage lenders. Many people are confused by the differences between types of lender, and also by the role played by loan officers. Here is a brief explanation of the parts played by those that may be involved when you apply for a mortgage. Mortgage Brokers Mortgage brokers […]

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