Mortgage | refinancing

Reno, Nevada (CNN) – It’s not every day the President of the United States shows up on your doorstep. But that was the case for Paul and Val Keller at their Reno, Nevada, home on Friday.The reason    .. more …

Moments earlier, Keller and her husband, Paul, stood in their driveway next to the president as he told about 100 of their neighbors that his bill to expand the mortgage refinancing program that helped them would improve the economy for everybody.”More homeowners could refinance their homes at today’s low rates,” he said. “A lot of folks could save $3,000 a year. It is a huge boost for the    .. more …

If you are age 55 or older and plan to retire in a decade or so, you need to evaluate your retirement funds and your desire to pay off your mortgage before signing that refinance application.Financial planners have mixed feelings about whether homeowners should retire their mortgages before retirement.”First, you need to think realistically about what you want your lifestyle to be in retirement,”    .. more …

President Obamas $75 billion Home Mortgage Refinance plan will allow millions of homeowners a chance to refinance their home loan into a fixed rate 2% mortgage. Homeowners can easily save hundreds per month using this “Making Home Affordable” plan. Here is who qualifies:- Homeowners who have made every mortgage payment on time and in full for the past 12 months. If you have any late fees or were    .. more …

Credit unions around the country have been using a mixture of increased borrower education, a wide variety of mortgage loan products and different loan strategies to help their members qualify for mortgages, industry executives explained.One example of this trend is the 162,000-member, $1.41 million UW Credit Union, headquartered in Madison, Wis.Having a wider variety of mortgage products helps    .. more …

Before you apply for that all-important mortgage, you want to check your mortgage credit score at least 3-6 months in advance. Legitimate lenders aren’t exactly out to take you for all you’re worth, but they want to make sure they get their money back and make a profit. You, on the other hand, want to secure the lowest interest rates and payments possible. You can make sure you’re getting the best    .. more …

Mortgage Loan Calculator (PITI)Use this calculator to determine your monthly mortgage principal, interest, taxes and insurance payment (PITI) and amortization schedule. With mortgage loan rates so low right now, the use of a mortgage loan calculator will help you to know what you need to spend each month and will show you that there has never been a better time to get a first mortgage loan.    .. more …

This post comes from Marilyn Lewis of MSN Money. Interest rates on fixed-rate mortgages broke all-time record lows, Freddie Mac said today, announcing the results of its weekly mortgage survey. 30-year fixed-rate mortgages : The average 30-year home loan was 3.84%. Borrowers paid an average 0.8 point (a point is 1% of the loan amount). That’s down by 0.04 of a percentage point from last week.    .. more …

Mortgage processing is a tedious activity that involves bulky paperwork. Nowadays lenders are doing business on the internet hence they are piling more electronic documents than actual paperwork. Even though the electronic system is a big help, it attracts many loan applications that most lending institutions are not able to process quickly and accurately. This is why the contract mortgage    .. more …

Know Who You Are Talking ToWe do not talk to our brothers and sisters the same way we talk to our bosses. “Code-switching” is the fancy term for how we talk to different people, using different lingo. Regardless of whether we are talking in person, over the phone, or through e-mail, we must always remember who we are talking to. While it is wise to use the terms “sir” and “ma’am” in interviews    .. more …