Mortgage Prepayments and Penalties for Dummies
Regular mortgage monthly payment already covers payment on interest. Any extra or additional payment refers to prepayment. Mortgagor or borrower often asks why I have to pay penalty on prepayment or refinance. Since the mortgage companies loses payment on interest, the mortgagor or borrower needs ... more...

Is the Inverse Mortgage a Scam? New Program Promises Mortgage Payoff inside of 5 Years
If a mortgage could be paid off in five years or less, without it costing homeowners an extra cent, why wouldnt every homeowner in America be doing it? Because they dont know, or because theyre too wise? Although the former may be the case for many, I certainly hope the latter is the answer for ... more...

Credit Card Purgatory - A 7 Step Comprehensive Plan to Get and Stay out of Credit Card Hell
Does this Sound like You? There are 100 shopping Days left until Christmas and your Credit Card Balance is Higher now then it was in the beginning of the year. You may have thought of using your home and getting a debt consolidation loan, A Debt Consolidation Loan without a solid Long Term ... more...

How and Why To Pay Down Your Mortgage
Lets say, for example, you add $100 to your normal monthly mortgage payment. This makes your loan balance at the end of the month $100 less than it would have been without the extra payment. In the months that follow, you save the interest on that $100 that you otherwise would have paid.Since the ... more...

Mortgage Terms Explained
When you are hunting for a mortgage, you will find that there are many different types of mortgages available. I will list some of the more common ones and their uses.15 vs 30 YearsYour mortgage term can be just about anything you choose. 15 and 30 year terms are popular these days, although 10 ... more...

Do You Need a Mortgage Refinance Loan?
Is your home loan interest rate higher than the national average? Is your home in need of some much-needed repairs or are you in need of some extra money to pay off credit cards or other bills? A mortgage refinance loan may be exactly what you need to take care of these needs and any others that ... more...

Strategies for Saving Money on Your Mortgage
We all like to save money. Why pay more for something, when you can pay less? We could all use an extra few dollars in our pockets, couldnt we? Most people dont realize that there are a number of ways to save money on their mortgage. If you were to take out a mortgage on a 25 year term, chances ... more...

Paying Rent or Pay a Mortgage? Here AreThe Benefits You Have With A Mortgage!
This is what a mortgage can do for you!AND Why you shouldn't get hung up on the interest rate!Let me show you the bottom line or the total dollar amount you will pay when paying a mortgage and paying rent and what the benefits of a mortgage are:Let's say John bought a home and has a $75,000 ... more...

Thought Fixed Rate Will Give You a Respite from the Perils of Variable Rates! Think Again
Slight increases in the interest rates raise your hackles. Tension grips your mind as to how you are going to make the extra payment. Preparations begin right then to provide for the repayment, though it requires a huge cut in the monthly expenses.Cautious is what describes your state. A fixed rate ... more...