April 29, 2011 in Estate Planning, Financial Services, Mortgages & Credit
If you are an adult with elderly parents, you may be used to getting periodic updates on the status of their physical health. When it comes to the state of their financial health, however, elderly parents may not be quite as forthcoming. Many adult children are surprised when they find that their elderly parents are ...
February 2, 2010 in Mortgages & Credit
Fixed rate loans are often the choice for homeowners, since fixed rate home equity loans do not conform to the standard market Prime Rates. Fixed rate loans give homeowners a peace of mind, since the interest on the loans does not change during the term of the loan. On the other hand, the adjustable rate ...
February 2, 2010 in Mortgages & Credit
If you are on the market searching for an equity loan, it is important to cover your grounds before agreeing to any terms. Lenders will often sell homes for the amount owed on property if the homeowner falls behind on payments. Thus, the first question you should ask is can I afford to repay a ...
January 21, 2010 in Mortgages & Credit
It used to be the first choice of most borrowers, because since the total payments are spread over a longer period of time with the interest rate set for the entire time of the mortgage. 30 year home loan rates are an industry standard but is it the right choice for you? The 30 year ...
January 21, 2010 in Mortgages & Credit
There are several reasons that people may look to refinance home loans. Probably the most common is to take advantage of lowered interest rates. Some of the other reasons people refinance home loans is to pay off high priced credit cards, make home improvements, and rebuild credit rating that has taken a turn for the ...
December 15, 2009 in Mortgages & Credit
If you think paying your bills on time is all you need to do to maintain good credit, it’s time for a quick lesson from consumer credit expert Stephen Snyder. “Fifteen years ago it didn’t matter,” Snyder writes in his book, “Do You Make These 38 Mistakes With Your Credit.” “As long as you paid ...
November 19, 2009 in Mortgages & Credit
Generally speaking if you owe a debt to someone else and they cancel that debt or they forgive that debt, the cancellation of debt becomes for tax purposes INCOME: That amount of the cancellation of debt needs to be reported as ordinary income on an appropriate tax return for that time period. HOWEVER because of ...
November 10, 2009 in Mortgages & Credit
In slower markets, some loan officers may feel pressured to close deals that aren’t in the homeowner’s best interest. In order to avoid getting into difficult and financially compromised positions with their mortgages, borrowers are well advised to be acutely aware of the signs of a responsible home loan consultant when selecting professional Real Estate ...
November 3, 2009 in Budgets & Savings, Mortgages & Credit
Do you dream of living without the burden of excessive debt hanging over your head? It’s possible, but not easy. Living debt free requires financial discipline, all the time. To become debt free and maintain a debt free life, try the following three steps: Get rid of existing debt. This is obviously your first step ...
September 11, 2009 in Mortgages & Credit
A Fixed Rate Mortgage is a loan to purchase a house just like any other mortgage, but the interest rate on repayment is fixed and does not fluctuate with the market place and interest rates in general like an adjustable rate mortgage, hence the name Fixed Rate Mortgage. Because the rate is fixed it can ...
