Many buyers push for the purchase of a home that they were never really sure of just because they were afraid of upsetting other parties involved in the sale. Similarly, there are sellers who reluctantly said yes to a deal they weren’t comfortable of. If you feel like you are about to make one of these decisions in the future, know that indeed, it is possible to back out from a … [Read more...] about Backing Out of a Real Estate Deal
Industry Mortgage Tips
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 executives would expect if Obama or Romney were elected … [Read more...] about Rates Always HIgher After An Election. Or Is It Lower?
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 associated documentation or picking up the phone and … [Read more...] about The Ol’ Switcheroo
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 can be created in a mortgage loan. The difference might be … [Read more...] about Your Mortgage. Um, YOURmortgage
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 then it begins to get really serious. Both on your part and … [Read more...] about Hold the Foreclosure Fone