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Underwater Mortgage

What is an FHA Mortgage?

An FHA mortgage is a home loan insured by the Federal Housing Administration. The FHA does not provide money directly to borrowers; rather they insure the mortgage against a default. This makes Federal Housing Administration borrowers particularly attractive to lenders. The lenders know that if the borrower fails to pay, they can come after the [...]

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How to Spot Check on Your GFE

Within three days of receiving your loan application, your lender must give you a good faith estimate that clearly describes the terms and fees for mortgage you selected. As of January, 2010, HUD provided a standard three-page form to make it easier for borrowers to compare loans. Basic Information Among other things, the GFE indicates [...]

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Home Buying

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Should You Be a Homeowner?

Before you become a first time homebuyer, it's a good idea to stop and ask yourself a few questions. Depending on your circumstances, renting for a few more years may be the sound financial move to make. How Long Do You Plan to Stay in the Home? If … [Read More...]

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Refinance Mortgage

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When is the Right Time to Refinance My Mortgage?

With interest rates at all time lows, many homeowners are attempting to refinance their mortgage, and with the economy in a spiral it makes perfect sense to refinance or seek a home loan. ItÕs also important to remember the many factors that go … [Read More...]

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Mortgage Calculators

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How to Shop for the Best Mortgage

Most people who are in the market for a new car would never dream of going to only one dealership, yet those same people often neglect to shop around to find the home loan that works best for them. If you are in the market for a new home loan, try … [Read More...]

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