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What is an Underwater Mortgage?
Anytime that the amount of the mortgage is more than the current home value, it's considered an "underwater mortgage". This can happen for a variety of reasons, including home prices
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Types of Mortgages and Home Loans
There are many different types of mortgages, and it's to your benefit to educate yourself about the various types before moving forward in the mortgage process. This article will help you to obtain a
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Types of Mortgage Lenders and their Advantages
There are numerous options for mortgage lenders out there, and those new to the mortgage game might feel overwhelmed by all of the options as well as the jargon. This article will help you understand
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What are Asset-Backed and Mortgage-Backed Securities
What's an Asset-Backed Security? These securities are generated through the process of buying and bundling loans. The different loans involved in this can include residential mortgage loans,
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Difference between a Mortgage Banker/Lender and a Mortgage Broker
Going through the process of purchasing a home and obtaining a mortgage can introduce one to a whole new series of acronyms and terms special to the real estate industry. Without some background knowl
What is an Underwater Mortgage?
Anytime that the amount of the mortgage is more than the current home value, it's considered an "underwater mortgage". This can happen for a variety of reasons, including home prices falling or repairs and necessary upgrades to the house which make it too expensive for the homeowner to fix it and sell it at a costs that exceeds the remaining mortgage. The term is developed from the concept that the homeowners might feel as though they are drowning in debt. An underwater mortgage
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Types of Mortgages and Home Loans
There are many different types of mortgages, and it's to your benefit to educate yourself about the various types before moving forward in the mortgage process. This article will help you to obtain a ground-level of understanding with regards to the differences. Fixed-Rate Mortgage In a fixed-rate mortgage, the interest will remain the same for a period of time (generally between 10 and 30 years). After that period, the principal is fully paid. This appeals to people who want to know
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Types of Mortgage Lenders and their Advantages
There are numerous options for mortgage lenders out there, and those new to the mortgage game might feel overwhelmed by all of the options as well as the jargon. This article will help you understand the different kinds of mortgage lenders and the benefits of working with each particular type. Direct Lenders A direct lender is an entity that creates its own loans (and there is not a distinction between lenders that use their own funds for this process and those that use borrowed funds
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