Guide to Mortgages

By:
Catherine Brock | Wed, 11/21/2007

  • CHAPTER: 1 Introduction to Mortgage Loans

    Would you commit to a 30-year partnership with someone you just met? Of course not, because the risks involved would be too great. Yet-and you know where this is going-many homebuyers know little about mortgage loans when they sign on that dotted line.

  • CHAPTER: 2 Mortgage Loan Documentation

    Before your lender can get down on one knee and make a proposal, he has to know all about your financial situation. He won't take your word for it-you'll have to prove your financial worth with a host of documentation.

  • CHAPTER: 3 Mortgage Loan Vocabulary

    If you're a baseball fan, you'll happily participate in a discussion of Randy Johnson's ERA. If you're not, you might wonder what that acronym stands for (earned run average) and what it has to do with Randy's pitching. Since you don't want to feel this sense of confusion when courting a lender, it's time for a brief vocabulary lesson.

  • CHAPTER: 4 Refinancing a Mortgage Loan

    If the fear of commitment is setting in, take a deep breath and relax. A mortgage loan is a serious union between you and your lender; but it isn't permanent. If you run into trouble with your payments, or the prevailing mortgage rates drop, you can always refinance your mortgage.

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