mortgage

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Have you ever wondered exactly what a mortgage loan officer does on a daily basis? Were you thinking of becoming one yourself? Are you thinking of buying a house and would like to learn more about the process? In this article, all of these questions and more will be answered.
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If you’re one of the happy home owners who owe Bank of America for your mortgage debt, you may not be seeing any mortgage relief any time soon. According to the Huffington Post article Bank Of America Executive Acknowledges Poor Service In Mortgage Mod Program by Arthur Delaney, “Bank of America has put 11 percent of HAMP-eligible borrowers delinquent for 60 days or longer into “permanent” five-year modifications — the lowest rate of the four biggest banks participating in the program.”
3 minutes read
The Consumer Financial Protection Bureau (CFPB) gave a warning to consumers aged 62 and older who are considering a reverse mortgage to delay dipping into their Social Security benefits. In a 26-page issue brief dated August 2017, the Bureau determined that: (i) the costs of using a reverse mortgage exceed the total amount of Social Security benefits one could receive in a lifetime by delaying it, and (ii) th...
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Refinancing home mortgages have been gaining popularity among homeowners. While mortgage rates continue to rise, it’s not surprising to get tempted to refinance a mortgage at some point. But then this move is only beneficial for certain situations. Before making a decision, it’s important to consider a few things. You need to ask yourself if your current situation calls for a refinance and that if it’s ...
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Mortgage interest rates can change daily, and even multiple times per day. Do you ever wonder why this is the case? Maybe you wonder how you should know when to lock a rate? Get Matched with a Lender, Click Here. Keep reading to learn about changing interest rates and how they may affect you. THE ECONOMY PLAYS A ROLE The economy plays a large role in interest rates at any given time. When the economy is doing w...
4 minutes read
The last thing you want to hear when you apply for a mortgage is that it’s been denied, but it happens. The good news is that it doesn’t mean it’s the end of the road for you. The bad news is that you have a lot of work ahead of you. Compare Offers from Several Mortgage Lenders. LEARN THE REASON Your first step is to find out why your loan was denied. Your lender has to tell you why you didn’t get the l...
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When you decide it’s time to buy a home, you have one major step to take before you find your dream home. You have to find a mortgage. Unless, of course, you have enough cash to pay for the home, but if you are like most people, you need a mortgage. Knowing how to shop for that mortgage is crucial. Get Matched with a Lender, Click Here. A mortgage is not a one-size-fits-all approach. There are mortgages for d...
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If there’s one thing that most borrowers hate about the mortgage process, it’s how long it takes. It can feel like an eternity as you wait for the underwriter to give you the ‘thumbs up’ or ‘thumbs down’ sign. Luckily, there are a few quick ways that you can speed the process along to get your answer as fast as you’d like. Compare Offers from Several Mortgage Lenders. KNOW YOUR CREDIT AHEAD OF...
3 minutes read
After nearly two months of declines, mortgage rates inched higher this week. Freddie Mac’s Primary Mortgage Market Survey (PMMS) showed the average 30-year fixed mortgage rate increasing from an average of 3.78 percent to 3.83 percent. This is the first time rates have increased in seven weeks, disrupting the steady decline that began after rates topped 4 percent in July. GET TODAY’S RATES IN YOUR AREA Context is important ...
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Does taking over someone’s mortgage seem easier than getting your own mortgage? You might be in for a little surprise. Today, an assumable mortgage still requires approval, just like you would need if you took out your own mortgage. Looking for Current Mortgage Interest Rates? Click Here. There are benefits of assuming someone’s mortgage, though, especially if interest rates are higher now than the rate t...