You own your own home and somehow you are able to make ends meet. The car payments, the credit cards, the store credit, and especially the mortgage -you juggle the bills and try to stay ahead. But despite your best efforts you have missed some payments and you know that you have a bad credit rating. Still, you wonder about your home mortgage. Are you paying too high an interest rate? Could you refinance and save money? But most of all, can you...more
From Country Wide and Wells Fargo to other banks, almost all lending institutions are offering home loan modification as a means for dealing with the subprime crisis and other factors marring the American economy.These mortgage modification programs are designed to assist homeowners who cannot meet the high monthly payments. Foreclosure is certainly not an option for lenders anymore with no buyers in the market. So it simply makes more sense for...more
There are many reasons to get a mortgage refinance. Due to the long terms of most mortgages, chances are good that your original terms no longer suit you. Whether you want to pay off the loan faster, stretch it out, pay lower interest rates or wring more money out of your home, a mortgage refinance is the best way to get it done.Changing interest rates are often the driving force behind the urge to get a mortgage refinance. Over the last several years, interest rates have dropped tremendously thanks to the housing market crash and accompanying economic distress. Cash in by getting a mortgage refinance that provides you with the new, lower interest rates.The desire to change the duration of the mortgage is another motivator for getting a mortgage refinance. If you find yourself doing well, you may also realize that you can get rid of your mortgage faster by making larger payments. Sometimes, you can simply pay your current lender more each month, but not all banks allow this. If your bank gives you trouble, getting a mortgage refinance will let you dump that bank in favor of one thats more flexible.Lengthening the term of a mortgage is another goal of mortgage refinance. If you have...more
Historically low interest rates have many people tempted to repeatedly refinance their mortgage. Before you turn into an interest rate-chasing junkie, lets talk about when refinancing makes sense and when it can cost too much. First, keep in mind that refinancing merely restructures your existing debt; it doesnt make it go away. When thinking of...more
A good home loan modification letter should include three crucial elements. These three crucial points will help you to arrange your mortgage modification hardship letter in such a way that it will include all the necessary information and get you the desired results. So when you are drafting a home loan modification hardship letter include the...more
No matter whatever the life brings in its path, mortgage life insurance helps you make sure your family is covered by essential protection and their future is safe and secure. The type of mortgage life insurance policy to choose from will depend on the type of mortgage you have. Mainly mortgage life insurance is categorised into two main types: Decreasing Term Insurance Level term InsuranceDecreasing term insuranceDecreasing term insurance is the type of mortgage life insurance that is intended for people who are looking for a mortgage repayment option. In this insurance policy, the total amount of policy coverage grows smaller over time but the premiums remain same throughout the life of the mortgage policy. This type of term life insurance can be especially desirable for families with a mortgage. If your primary objective to buy mortgage insurance is your concern about your spouse's ability to pay off your mortgage, then decreasing term mortgage insurance is be right choice for you. Opting this mortgage insurance policy may not relive you from financial concerns relating to education, medical, vacations or your retirement, but your mortgage will be paid off...more
Wouldn't you love to find an instant wealth building system? Everyone dreams of starting a business and then instantly finding success and riches, right? Understand, though, that it takes a bit longer for most people to really find true business...more
Wealth is something most people spend a life time trying to achieve and often times never do. There are a few shortcuts to achieving wealth that most people aren't aware of, but the question is what is wealthy enough for you? No...more
There are many people that have purchased a home of their own, but then they find themselves in need of more help financially. The best way to get the help you need is with mortgage refinance rates and there are some vital tips to help you select the...more
Every year, we greet our loved ones with have a prosperous new year. We dont mind it at all and just hears it as a New Year greeting without any meaning to it. How weird it is when in fact, it has always been what we long for every time the year...more
As a whole of market broker we constantly monitor the number of mortgage products available to our clients. It is therefore pleasing to have seen a steady increase over the last few months with the figure currently exceeding 2500 –...more
Millions of people wish to immigrate to Canada. This country is economically advanced and its geographical location makes the climate ideal and cool to dwell. Settling in Canada by purchasing your own dream home in one of the popular...more