Article Archive January, 2008

Home Equity Loan: Beware of Mortgage Tax

By:

Catherine Brock - MortgageLoan.com | January 31, 2008

When taking out a home equity loan, several states require that you pay a mortgage recording tax. Don't get caught off-guard by this tax. Here's an example of how it works in New York City.

Refinancing and Interest Rate Lock-ins

By:

Tom Kerr - MortgageLoan.com | January 30, 2008

To lock or not is a question that plagues many consumers when they decide to refinance a loan. The rate might be yours for years, so it's advised that you make an informed and savvy decision.

Down Payment Considerations and Potential Hazards

By:

Tom Kerr - MortgageLoan.com | January 29, 2008

Coming up with a down payment is only half the challenge for homebuyers. Deciding how much to pay can be just as difficult, because of the significant financial consequences.

Four Questions to Ask Your Auto Loan Lender

By:

Greg Mischio - MortgageLoan.com | January 28, 2008

When you're making a big purchase like a car, take time to play 20 questions. It's important that you understand a deal from top to bottom. The following four questions cover some critical areas.

Using Your Home's Equity to Finance the Big Wedding Day

By:

Amelia R. Frost - MortgageLoan.com | January 27, 2008

When saving for the future, many people forget that their children's weddings will be another huge expense. Home equity loans or home equity lines of credit are viable, fast, and easy financial options that can help make it a very special day.

Choosing the Right Mortgage to Remodel

By:

Tom Kerr - MortgageLoan.com | January 26, 2008

Paying for a remodeling project with a home loan is usually a good idea. But choosing exactly the right type of mortgage instrument may require some planning and calculation.

Leveraging Your Mortgage: Why it Pays

By:

Tom Kerr - MortgageLoan.com | January 25, 2008

Maintaining mortgage debt is sometimes a faster path to wealth than paying off your house entirely and being totally debt free. With a mortgage, you can leverage a huge amount of money with a relatively small monthly payment, and enjoy substantial perks along the way.

Unusual Techniques for Selling Your Home

By:

Greg Mischio - MortgageLoan.com | January 24, 2008

If you look at the unconventional techniques being used in the real estate business, you might think that "desperate times call for desperate measures." Some of these more unorthodox real estate techniques are actually working.

Investing With A Conscience: Socially Responsible Mutual Funds

By:

Anders Bylund - MortgageLoan.com | January 23, 2008

With socially responsible mutual funds, you can make money and still sleep at night. Are they right for your portfolio?

Is Escrow Right for Your Refinance?

By:

Amelia R. Frost - MortgageLoan.com | January 22, 2008

When refinancing a home loan, one of the many decisions that you'll have to make is whether or not to escrow your homeowner's insurance and property taxes. Some say yes, others no. Which option is right for you?

Five Financial Aid Tips

By:

Greg Mischio - MortgageLoan.com | January 21, 2008

A rite of passage for any college student involves learning how to manage finances. Not only does this apply credit cards, but also to a huge source of concern: financial aid.

Three Typical Debt Consolidation Mistakes

By:

Greg Mischio - MortgageLoan.com | January 20, 2008

Hindsight is 20/20. When it comes to debt consolidation, it can also be expensive. To avoid costing yourself big money, learn about some common debt consolidation mistakes before they happen.

Identity Theft Victims: Use Credit Freeze

By:

Greg Mischio - MortgageLoan.com | January 19, 2008

Identity theft is one of the fastest growing crimes in the world, and the need to protect your personal information is growing more and more critical. It's a hot topic, but a "credit freeze" may provide a cool solution.

Women and Car Loans

By:

Catherine Brock - MortgageLoan.com | January 18, 2008

An Internet connection can be a woman's best friend when it comes to buying and financing a car.

Refinancing in a Tightening Market

By:

Greg Mischio - MortgageLoan.com | January 17, 2008

Just because times are tough for lenders doesn't mean that you should be shy about pursuing a mortgage refinance. For a variety of reasons, many lenders will welcome your business with open arms, even if your credit is less than perfect.

Don't Get Tripped by Home Equity Loans

By:

Greg Mischio - MortgageLoan.com | January 16, 2008

In the famed Star Wars series, villains drew much of their power from the "dark side of the Force." In the world of home equity loans, there's also a dark side. Make sure that you understand it fully before you take out a big loan.

Be Your Own Debt Consolidator

By:

Greg Mischio - MortgageLoan.com | January 15, 2008

People don't have a problem doing their own home improvement projects, especially if they know they can save money by handling the job themselves. You can realize the same kind of savings when you handle your own debt consolidation.

Try a Savings Bank for a HELOC

By:

Catherine Brock - MortgageLoan.com | January 14, 2008

While mortgage brokers are running in circles trying to find lenders for their customers, savings banks are quietly reaching out to provide mortgages and HELOCs to good credit borrowers.

Five Factors for Refinancing

By:

Greg Mischio - MortgageLoan.com | January 13, 2008

Knowledge is power, especially when it comes to a mortgage refinance. The more details you know about your current mortgage, the easier it will be for you to decide if it's the right time to refinance that loan.

Solar Home Financing: Alternative to Second Mortgages

By:

Catherine Brock - MortgageLoan.com | January 12, 2008

Homeowners in Berkeley, Calif., may soon have access to low-cost financing for energy efficient home upgrades. A proposed city program would allow Berkeley homeowners to pay for the installation of solar panels and solar hot water heaters through their property tax bill.

Prepare for Debt Counseling

By:

Greg Mischio - MortgageLoan.com | January 11, 2008

In Hollywood, the best movies are made when a director knows exactly what he wants to shoot before the filming even starts. You can make your first meeting with a debt counselor just as productive if you bring in all the right materials.

Brokers and IRA Withdrawals

By:

Catherine Brock - MortgageLoan.com | January 10, 2008

Unsuspecting IRA savers have recently suffered some big losses by following the advice of their brokers. Avoid the same fate by knowing the rules about early IRA withdrawals.

How to Survive the Mortgage Crisis

By:

Tom Kerr - MortgageLoan.com | January 09, 2008

The current mortgage crisis is creating some horrific history; but you don't have to become one of the depressing statistics. Protect yourself from financial calamity by understanding your mortgage, being honest with your lender, and respecting your budgetary limitations.

Investing in a Second Home

By:

Amelia R. Frost - MortgageLoan.com | January 08, 2008

While some homeowners despair as the housing market slumps, some buyers see it as an opportunity to make an investment. Real estate can be a better long-term investment than CD or money markets, because it offers more potential for profits.

Tips for Finding Bad Credit Mortgages Online

By:

Greg Mischio - MortgageLoan.com | January 07, 2008

A good attitude can move mountains. It can also help you overcome bad credit. If you've experienced some rough times, but believe you can repair your credit, you will. One way to do it is to do your mortgage shopping online.

A New World for Home Equity Loans

By:

Catherine Brock - MortgageLoan.com | January 06, 2008

Rising default rates are prompting lenders to change their underwriting guidelines, making it more difficult for many to obtain home equity loans and other types of mortgage financing.

Three Reasons Not to Refinance

By:

Greg Mischio - MortgageLoan.com | January 05, 2008

When a doctor taps your knee with a rubber hammer, your body's natural reaction is to kick. Similar knee-jerk reactions occur when you examine the monthly savings of a mortgage refinance. But if you close on a loan without knowing some of the reasons not to refinance, you may wind up kicking yourself.

Avoid These Down Market Buyer Mistakes

By:

Greg Mischio - MortgageLoan.com | January 04, 2008

The real estate market has experienced its most significant slide in years, and homeowners are unloading property at rock-bottom prices. Now might be the time to buy, provided you can avoid some common mistakes.

Proactive and Tax Savvy for the New Year

By:

Catherine Brock - MortgageLoan.com | January 03, 2008

Start organizing your tax documents now, and have one less thing to worry about when spring fever sets in.

For Investors: Four Tips for Short Sale Purchase

By:

Tom Kerr - MortgageLoan.com | January 02, 2008

With the nation in a mortgage crisis and many homes headed for foreclosure, the so-called "short sale" has gained popularity. You can benefit from a short sale by getting a discounted price on a home. Here are four tips to minimize risk.

2008: The Year of Credit Card Green

By:

Amelia R. Frost - MortgageLoan.com | January 01, 2008

Credit card companies are offering ways for you to donate to environmentally friendly causes and charities.