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A Little-Known Strategy for Cutting Mortgage Payments

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Homeowners looking to lower their monthly mortgage payments and also save some on interest may be able to do so without all the hefty fees and daunting credit requirements of refinancing. A little-known strategy, called “recasting,” or “re-amortization,” is available through some mortgage lenders and servicers. It involves paying off a lump sum of the […]

Strategic Defaulters Opt to Continue Paying on 2nd Liens

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Borrowers who strategically default on their first mortgage often continue to pay on home equity lines of credit, according to a new white paper from two authors with the Philadelphia Federal Reserve. Data for the study came from a large random sample of individual credit records drawn at the end of each quarter from Equifax, […]

Your Mortgage and the Down Payment You Need

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There are a lot of steps in buying a home. Among the things you need to prepare for is the amount needed to make the down payment required by the lender. This is a form of financial protection for the lenders, and since they require this, borrowers have no choice but to comply. In the […]

A Good Credit Score Can Get You an Affordable Home

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You probably already know how important it is to have a good credit score. A high score can help you qualify for loans with the lowest interest rates, auto insurance at the lowest premiums, and even beat out your competitors for that dream job. However, having a good credit score is even more important today. […]

From Default To Foreclosure – 16 Months is Average

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If you are in default on your mortgage do not feel like you need to leave your home immediately according to a study by LPS Applied Analytics. The average home that has missed their 3rd monthly mortgage payment takes 492 days to go from the initial foreclose filing to the bank taking possession of the […]

Buying a Home: Comparing Home Loan Types

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If you are buying a home, it’s a good idea to make sure you firmly understand the options you have with regard to the types of home loans. Between the various home loan types, there are important differences. By making sure you choose the right type of home loan to fit your situation, the more […]

Buying a Home: Money Considerations

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When buying a home, there are a lot of things you have to take into consideration. One of the most important considerations are your monthly costs, and making sure everything fits into your budget. Here are some money considerations you should definitely be thinking about… Have questions or comments about this video? Use the comment […]

Refinancing a Home with Bad Credit

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When it comes to refinancing a home with bad credit, there are certain things you need to know if you are going to be able to make sure you get the best refinancing deal possible: 1.  KNOW YOUR MORTGAGE (AND ITS ALTERNATIVES): Before you even consider refinancing, make sure you fully understand your loan – […]