Mortgages

Mortgage Terminology You Need to Know

Although home lenders can be difficult to understand at times, they are not speaking a foreign language. By understanding these common mortgage terms, borrowers can feel confident when buying or refinancing their homes. Mortgage A residential mortgage is a contract…

Is It Still a Good Time to Buy a Home?

After a decade of instability in the real estate market, it looks like home prices are finally becoming stable. In 2014, housing prices advanced by 6.4 percent. Last year, they continued to increase by 4 percent. According to Kiplinger, the…

Understanding How Reverse Mortgages Work

For many people, the equity in their home is their largest asset, and when it comes time to retire, they may be counting on tapping that asset for money to live on. Selling the home is an option, but for…

What are HUD's Reverse Mortgages?

After retiring from a workplace, or when money is a little tight, senior citizens can find that there are financial opportunities that are designed for their specific goals and concerns. An option that can help when an individual or couple…

A Guide To Mortgage Refinance

Lowering the mortgage payment is like getting a raise. Every dollar shaved-off the monthly payment can improve financial flexibility and make budgeting easier. Everyone would like to have lower monthly payments. Some homeowners have a mortgage and a home equity…

Buying Versus Renting: Which One Is Right For You?

In the past few years the real estate market has not been in a normal state of equilibrium between rental rates and purchasing price. Post-recession, investors have been able to buy homes at extraordinarily low prices, in part due to…

The Truth About Mortgage Interest Rates

Unfortunately, many mortgage shoppers are under the impression that banks set the rates on home loans. Consumers may see an ad with Bank ABC offering 6.5 percent on a 30-year fixed rate loan while bank XYZ offers 6.25 percent, and…