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Second Mortgage Versus Home Equity Loan
June 9, 2003, revised August 30, 2003 "What are the differences between a second mortgage and a home equity loan?" The terminology is confusing. A second mortgage is any loan that involves a second lien on the property. Some second mortgages are for a fixed dollar ... more...

HUD's Proposals For Reform
October 19, 2002 On July 29, 2002, HUD released a set of proposals to substantially change the ways in which home loans are originated in the US.  As usual, the proposals were open for comment, and many thousands of them were received.  Mine was among them, and is shown ... more...

first home related definitions

American Dream Downpayment Initiative
American Dream Downpayment Initiative The American Dream Downpayment Initiative (ADDI) aims to increase the homeownership rate, especially among lower income and minority households. ADDI help first-time homebuyers with downpayment and closing costs. The program assists low-income ... more...

Buy-Down
Buy-Down When the lender and/or the home builder subsidized the mortgage by lowering the interest rate during the first few years of the loan. While the payments are initially low, they will increase when the subsidy expires. ... more...

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Easing Your Way Into Homeownership: A Guide To Low Down Payment Mortgage Programs
Theres no question about it: Buying a first home is a big financial commitment. In most cases, a home is the largest single purchase an individual or family will make in a lifetime. However, because of the tax advantages afforded to homeowners, buying a home also can be one of the best financial ... more...

Bad Credit First Time Home Buyers
If you have a poor credit rating and want to buy your own home then you are one of thousands of people who are classed as bad credit first time home buyers. Fortunately, you are not alone as many people have acquired a bad credit rating through life circumstances and it is happening to more and ... more...

Tips For First Home Buyers On Getting Home Loans
Buying your first home will likely be the biggest and most important purchase you will ever make. It can be a very stressful and may even leave you sleepless for nights on end wondering whether you are making the right decision especially where choosing the right home loan is concerned.With all ... more...

Fear Plays Role in First Time Home Purchase
There are so many emotions connected with buying your first house: stress, anxiety, anticipation, doubt, joy and fear.Not only are first time buyers nervous about the process of buying a home, they are especially worried about being rejected for their mortgage. Many will continue to rent a home, ... more...

First Time Home Buyer Loans - Home Buying Advice for First Timers
Purchasing your first home is an exciting and scary time. For the most part, new homebuyers are unfamiliar with the home buying process. Before accepting a mortgage loan, it is important to educate yourself on various loan programs. Furthermore, first time home buyers should be aware of ... more...

Refinancing First and Second Mortgage into a Single Loan
If you have a home loan, perhaps you have considered refinancing your loan. Homeowners may refinance their home loan to cash-out and pay outstanding credit card balances and consumer loans. In addition, refinancing a home loan is ideal if you have two mortgages. Combining a first and second ... more...

Gun Defense Questions and Answers. Why have a gun in the first place?
I have been called, e-mailed and stopped on the street, questioned in my office, at a couple of places where I shop, and at the post office. I do radio ads for Steele's Gun Shop and I'm known to be familiar with firearms to some degree. I have been asked about what kind of gun or ammo to purchase ... more...

Exotic Mortgage
With real estate prices ever on the rise, first-time home buyers are facing more difficulties in buying a home. Who ever thought they'd buy a $500,000 starter home?Mortgage lenders have acknowledged the problem by creating new and innovative mortgage products, mostly designed to lower the ... more...

Buying Country Acreage and Rural Properties, To Buy or Not To Buy
Almost anyone can become a rural property owner; if you are willing to set goals, establish what your purposes are, plan ahead and set targets that are all aligned toward the same result. And, if you can be patient instead of requiring instant gratification.There is no more $50-an-acre land; unless ... more...

Making it affordable: Nine tips for first time home buyers
It seems that everyone loves a good real estate story. The media is filled with reports about soaring property values and home owners of modest means becoming instant millionaires when they sell. As a result, many first time home buyers, afraid of missing out, will rush into buying decisions and ... more...

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