Author: Jessica
About Author: Jessica Bennet with her vast experience in the mortgage industry has been associated with the MortgageFit Community as a Mentor. Not only does she participate in the community forums to give her suggestions, but also makes her contributions through different articles on mortgage.
Published articles: 7
All the advertisements and announcements that quote the payment amount on a home mortgage loan, should also include another cardinal number, which is known as the annual percentage rate (APR). If you apply for a home mortgage loan, your lender is obliged to send you a ‘good faith estimate’ and a ‘truth in lending statement’ …
The problem of personal debts sometimes reaches such unmanageable levels that many of you are left with no other option, but to file for bankruptcy. It is to be noted that bankruptcy is the last debt elimination option available before you and it is a very hard pill to swallow. Anyways, bankruptcy laws are designed …
In the world of mortgages, refinancing play a crucial role. Through mortgage refinancing, you get the chance to revise a payment schedule. In other words, mortgage refinancing replaces the original mortgage loan with a new one with better terms and conditions. Usually, mortgage refinancing is done by reducing the mortgage rate or by extending the …
Choosing between a fixed rate mortgage (FRM) and an adjustable rate mortgage (ARM) is a tough call that the borrowers have to make. Both of these mortgages have some inherent advantages and disadvantages. Here we try to make a comparative analysis among these two broad types of mortgages. Fixed rate mortgages These are the most …
Mortgages play key role in the economic well being of a country. The deep-rooted impact of mortgage loans was evident during the sub prime mortgage crisis. Prior to the onset of the sub prime mortgage crisis, lenders in the country used to offer home mortgage loans to the borrowers without much judging their repayment capacity. …
Refinancing is a common tool used in the personal finance matters. This is nothing but the replacement of the existing debt obligation with a new one. The most common type of refinance is refinance home mortgage. A refinance loan is generally sought for by the borrower to pay of the old loan. This is sometimes …
Scenario: I have defaulted on my mortgage. My total mortgage debt amount is $90,000. I want to take out a home equity loan to resolve the issue. My friends are telling me that I can use the loan to pay my other bills also, which will be great for me. This way I will be …