Mortgage Sanity

In the U.S., all VA and FHA mortgages are insured by the federal government. Other types of mortgages, however, typically require some sort of mortgage insurance from a private mortgage insurer if the loan exceeds 80% of the value of the property. In any case, the borrower is responsible for paying for the insurance in […]

The billboard or TV commercial reads, �cut thousands of dollars off of your mortgage by converting to a bi-weekly payment plan!� Sounds too good to be true, doesn�t it? Well, it�s actually mostly true. A bi-weekly mortgage payment plan restructures your payment schedule. Instead of the traditional, one-payment-a-month mortgage payment, you […]

The word �escrow� has several different meanings, many of the pertaining to real estate and other financial transactions. In this instance, we will be discussing �escrow� as the process of allowing the lender or a third party keep part of your monthly payment in an account and then use the money accumulated in that account […]

Chances are, you�ve seen headlines on the newspaper, stories on TV or video clips and articles on the internet recently about the subprime mortgage �meltdown�. What exactly happened? And more importantly, how is it going to affect you if you were in the subprime mortgage market?

- Bad Credit OK
- New Purchase, Home Equity & Refinance
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The Basics
If you accept your mortgage quote, it becomes the binding document that either means you keep your house or you lose it. If you break your mortgage and don�t pay your monthly payments, you will lose your home. But if you pay your mortgage on time or even ahead of […]

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Undoubtedly, you�ve seen advertisements for loans that will �utilize� or �tap into� your home equity. The majority of these loans are HELOCs. HELOC stands for Home Equity Line Of Credit and is often times a �junior mortgage� or second mortgage. That means that it stands behind your primary mortgage in lien position […]