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29 October 2009
Consider this: right now, you can purchase a home with a 15-year mortgage and end up with a monthly payment that is far less than you would have paid for the same property under a 30-year loan only three years ago.Sound interesting? Read on.
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26 October 2009
A government program designed to help at-risk homeowners refinance their mortgages is struggling, even as conventional mortgage refinances have surged in response to historically low interest rates.
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19 October 2009
How much will you need to spend on home maintenance? It's a crucial thing to know when figuring out what you can afford when taking out a mortgage to buy a house, but one that many potential homeowners pay shockingly little attention to.
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14 October 2009
Thinking about buying a home but nervous about doing so in today's economy? Do you already own a home and are worried about what would happen if you lose your job? You may want to consider unemployment mortgage insurance.
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9 October 2009
Mortgage interest rates are unusually low right now, close to all-time lows for a 30-year fixed rate loan.So with rates already so low, is it worth paying points to try to get the rate even lower?.
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7 October 2009
Mortgage rates are low, low, low right now - close to all-time minimums.But those low rates can still cost you an awful lot of money if you're not careful to avoid some of the serious mistakes people make on home loans when buying a home or refinancing.
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5 October 2009
Black and Hispanic mortgage loan applicants in the United States continued to face higher rejection rates on than whites and Asians last year, according to data released by the Federal Reserve last week.
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2 October 2009
If you're thinking about buying a home, chances are you're not planning to do it by yourself.
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30 September 2009
What will your mortgage or refinance actually cost you? Many borrowers focus only on the interest rate, because that's the main thing that determines what you're going to pay.
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16 September 2009
Coming up with the down payment for a mortgage can be the single biggest obstacle to home ownership for many aspiring homeowners.For some, tapping into their Roth IRA can provide the necessary funds.The question is, do you really want to break that particular piggy bank?.
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4 September 2009
The IRS will likely start taking a closer look at mortgage interest deductions and payments in an effort to identify tax cheats who are underreporting their income or not filing at all.
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4 September 2009
A bi-weekly mortgage is often touted as a fairly painless way for a homeowner to pay off their mortgage faster and save tens of thousands of dollars in the process.But is it really such a good idea?.
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1 September 2009
Buying a home, unlike most purchases Americans make, involves negotiation.And to negotiate successfully, you have to know what's on the market.But prices may not always follow the classic rules of supply and demand.
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28 August 2009
Despite the current combination of low interest rates and housing prices, many would-be homebuyers are still leery of jumping into the market at this point.Fearful that home prices may yet drop further, they're holding out for stronger signs of an economic recovery and a bottomed-out housing market.
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19 August 2009
Finding a good deal on a mortgage loan used to be challenging.If you wanted to find refinancing quotes[[sitetree_link,id=13]] or mortgage quotes, you'd need to play phone tag with bank after bank, or comb the financial pages of your local newspaper for more leads.
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19 August 2009
"Residential mortgage loans" is a more formal term for home loans.It's generally used to distinguish a home loan from a commercial mortgage loan used to finance property for business purposes.
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19 August 2009
Low monthly loan payments may be attractive, but you should have a look at the details to fully understand the cost over time.This type of mortgage product has been on the market for some time, and the need for it is legitimate.
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19 August 2009
Balloon mortgages are so named because the entire balance becomes due in full at a predetermined date.At that time, the payment on the note suddenly expands or balloons.This can be a disadvantage if you don't have the funds available, or can't refinance the mortgage.
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11 August 2009
There's a new tax credit for first-time homebuyers in New York state that allows them to deduct 20 percent of their mortgage interest payments from their federal income taxes.Better yet, it allows them to do it for the life of the loan.
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23 July 2009
For a retiree with a mortgage, what's the best option? Use your accumulated savings and investments to pay off the mortgage and live debt-free? Or to hang onto those savings and investments to provide liquidity and earnings, while continuing to pay down the mortgage as usual?.
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