Mortgage Prepayment Penalty
Mortgage contracts often come with prepayment penalties. The contract states that if the homeowner pays off the loan before the term expires, a penalty will be paid. Many prepayment penalties expire after five years; however, predatory lenders hide them in their contracts with no expiration.The ... more...

Understanding Prepayment Penalties on Home Loans
Mortgage lenders prefer certainty to chaos. Some lenders take this concept to its logical conclusion in mortgages by inserting prepayment penalty clauses.Understanding Prepayment Penalties on Home LoansWhen a mortgage lender evaluates a loan application, it performs a number of analyses to ... more...

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...

Mortgage Refinancing Where to Start
Refinancing a home mortgage can be an intimidating task. With so many choices how do you know which loan is right for you? How do you protect yourself from predatory lending practices? Doing you homework before applying is the answer; here is what you need to know about refinancing your mortgage ... more...

Mortgage Company Quizzing Here are the Questions You Need to Ask
If you process of finding a mortgage there are three important questions you need answered. Here are the questions you need to quiz your lender on.Mortgages can be the most intimidating aspect of home ownership. As a homeowner it is easy to second guess your decisions; part of choosing the right ... more...

Mortgage Loan Your Mortgage Lender and Their Dirty Little Secrets
If you are in the market for a mortgage or a home equity loan, you need to do your homework before signing on the dotted line. There are a number of common mortgage mistakes that can cost you thousands. Many mortgage lenders rely on you making mistakes so they can charge you more. There are a ... more...

Mortgages - Don't Get Pounded By Prepayment Penalties
Many people make a major mistake when applying for a mortgage. They are so relieved to get the loan that they fail to pay attention to prepayment penalties in the loan documents.Prepayment PenaltiesWith the refinance craze of the last few years, many borrowers have been surprised to find they are ... more...

Tucson Mortgage Refinance How to Mortgage Comparison Shop
Before you sign a mortgage contract you need to read the entire document and pay attention to several key elements. Here is what you need to look for.Has the lender included a prepayment penalty in the contract? This is one of the first things you should look for. Lenders charge prepayment ... more...

Mortgage Loan Find The Perfect Lender Online
When shopping for a mortgage you have a variety of choices when it comes to lenders. There are traditional banks and credit unions, brick and mortar mortgage companies, and online lenders. All have their advantages; however, how do you know which is right for you? Here is why the Internet will ... more...