Mortgage Refinance

A construction lien, otherwise known as a mechanic’s lien, is a claim that is made against a property by a contractor, subcontractor, or other professional party involved in a construction project. These liens exist to protect construction professionals from non-payment for materials or services rendered. If you are withholding payment to a contractor for a
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You want to know exactly what you are getting when you make any large purchase, especially when you are buying a home – the largest purchase that many Americans will ever make in their life. That’s why a real estate disclosure statement is a fundamental part of any real estate transaction. By law, home sellers
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If it sounds too good to be true, it probably is. That’s sound advice for almost all aspects of life, including the search for mortgage relief services. Distressed homeowners don’t have to resort to third-party mortgage services. Free counseling is available at the Department of Housing and Urban Development (HUD). HUD programs such as the
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Veteran’s Administration (VA) loans are invaluable for homebuyers. Their advantages include little or no money down, qualifying with a lower credit score, competitive interest rates, potentially lower closing and auxiliary costs, and no private mortgage insurance requirements. VA loans are administered through approved lending institutions, and backed through an entitlement of up to $36,000. This
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The Home Affordable Refinance Program (HARP) was established in 2009 as a way to help struggling homeowners refinance in the aftermath of the housing crisis. Because of lower down payments and the sharp decline in home values, many homeowners were left with very high loan-to-value (LTV) ratios that left them ineligible for refinancing under Fannie
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Electronic closing of a mortgage loan has been around for years – in a manner of speaking. Generally, some element of the transaction still requires traditional methods such as the physical presence of a notary public or signing of original documents in ink. Most, if not all, of the parties involved are still in the
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When you are shopping for a home mortgage, you will probably be given the opportunity to “lock in” an interest rate when you are initially approved for your loan. This enables you to fix the interest rate you’re quoted upon loan approval for a limited period of time. Mortgage interest rates can be volatile, changing
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The era of historically low mortgage interest rates may be coming to an end, but it doesn’t appear to be winding up anytime soon. As of this writing, interest rates on a 30-year fixed mortgage have once again dropped to 4%, despite the Federal Reserve’s interest rate increases. Low rates present an excellent opportunity to
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You’ve decided to pass your home on to your children, but you haven’t settled on the best method to transfer ownership. You are also questioning whether you want to stay in the home or downsize to a smaller place. What factors should you be considering as you make your decision? Start by reviewing the typical
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For most homeowners, mortgage costs are the largest regular expense in the family budget. How can you manage those costs in the most efficient way? We offer a few suggestions for reducing either short- or long-term mortgage expenses to fit your needs. 1. Refinancing – According to Casey Fleming, Mortgage Advisor at C2 Financial and
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The housing market has shown signs of strength recently, but momentum remains elusive. Will this be the year that housing breaks out? Expert opinions vary, but most see a moderating market that will continue to pose a challenge for new homebuyers. Mortgage rates – Most estimates for mortgage rates suggest the post-election trend of sharply
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You have agreed to terms with the seller for your new home, and are now preparing to enter the closing phase. Unfortunately, closing on a house is considerably more complicated than buying a new appliance, or even a car. The closing process typically takes 30-45 days and requires several preliminary steps before the actual closing
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The U.S. Securities and Exchange Commission oversees cases involving mortgages, but the Federal Trade Commission (FTC) has recently stepped in to ban several companies from operating in the mortgage industry after finding them guilty of making false claims to homeowners. The companies, Redstone Law Group and Surety Law Group, voluntarily agreed to the ban in
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Although government bond yields dropped in the past week, lenders have continued to hold mortgage interest rates steady. On Thursday, the 10-year yield on bonds dropped to 1.387 percent, while the average interest rate for a 30-year fixed mortgage was 3.41 percent. The difference of 2.02 percent is higher than it has been since the
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Mortgage relief scams have become more common as of late, but a number of homeowners are unaware of these fraudulent activities and their consequences. These scams begin when the scammer calls a homeowner and claims they can help the consumer negotiate a loan modification or some other type of foreclosure relief with the homeowner’s mortgage
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At various times in life, your mortgage can seem overwhelming – either from the size of the monthly payments or the overall amount of interest you will pay. If you are looking for methods to save either way, here are a few suggestions: Consider Refinancing – Fixed interest rates are going up again, but they
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As the tax filing deadline looms, many Americans continue to prepare and file their annual income taxes. For the 86 million taxpayers who own their homes and have a mortgage, there are several different tax deductions they can take advantage of, including deducting their mortgage interest and the insurance premiums of any private mortgage insurance.
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“Operation Mis-Modification” may sound like a bad TV sitcom or a strange new form of pageant, but it is actually a joint effort from the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC) and officials from fifteen states, designed to crack down on mortgage-relief scammers. During the mortgage crisis, desperate homeowners sought help
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APR and APY – are they new texting acronyms? IDK, you say – or rather, you text? (For the benefit of the textually-challenged, IDK means “I don’t know.”) If you think they are texting acronyms, or just “DK” what they are, it’s time to learn. APR and APY are financial acronyms, short for Annual Percentage
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