by Blown Mortgage
on November 2, 2012
Mortgage rate myths seem to come and go. Rates are higher if there’s a Democrat elected. Rates are higher if the American League wins the World Series, and so on. Will there be a mortgage rate reaction this next Wednesday morning? An article in today’s Wall Street Journal provided a punch list of what business [...]
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by Blown Mortgage
on October 2, 2012
Did your mortgage company make you mad? Did your loan officer make all sorts of promises and didn’t keep one of them? Thinking about changing mortgage lenders midstream before your escrow closes? Such a switch is, to put it mildly, cumbersome. It’s not a situation where you can transfer your loan application and all the [...]
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by Blown Mortgage
on September 27, 2012
Recent ads on TV, radio and online promote a particular mortgage lender that offers to create a special mortgage with a payoff period designed specifically for you. That’s actually a good thing. Most consumers think there are two mortgage terms, a 30 year mortgage and a 15 year mortgage. Yet in reality most any term [...]
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by Blown Mortgage
on September 24, 2012
Okay, I get this. You missed a mortgage payment. Then you missed another. Then you got a certified letter from your lender reminding you (as if you didn’t know) that you missed two payments. Officially, that’s called a Notice of Default, or an NOD, the precursor of the ForeclosureBot. When you miss your next payment [...]
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by Blown Mortgage
on September 11, 2012
When applying for a loan modification, there really are more choices than you might think. There are of course the government-sponsored initiatives with their inherent acronyms such as HAMP or HARP. And individual banks can also have their own internal loan modification loan programs approved to their own internal guidelines. These modification requests can range [...]
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