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6
costly mortgage myths --
Think you can't get a mortgage if you have some dings on
your credit? Or that it's always best to pay off the mortgage early? If so,
it's time to dispel some myths.
In
the market for a mortgage? --
Find out what's up, what's down, what's
hot and what's not in the mortgage market.
New
credit scores target underserved consumers --
A new FICO score predicts credit risk
for individuals with little or no credit history.
Warning
signs of a bad home loan --
Borrowers in a hurry to lock in a low rate sometimes fall
prey to unscrupulous lenders. Be alert to the signals that your deal might be
suspect.
Reasons
to refi? Let us count the ways --
Fewer people are refinancing now that rates have risen, but
there are reasons to jump on the refi bandwagon before it vanishes.
Improving
your home's value
-- The author
of "101 Cost-Effective Ways to Increase the Value of Your Home" shares
his advice.
Why
would you grab an ARM now? --
Even as interest rates rise, adjustable-rate mortgages increase
in popularity for reasons both bad and good.
Know
your ARM indexes -- Don't
know COFI from LIBOR? If you're getting an adjustable mortgage, these arcane
tables of numbers will interest you since they set your monthly payments.
Closing-cost
reform movement lives on --
A move to change the federal rules on closing-cost procedures
died, but the industry is moving on its own toward guaranteeing the final cost.
Using
equity in one home to buy another --You
can leverage your first home to buy another. Just don't stretch too far.
How
to price your home -- Your
home may be priceless to you, but the market is cold-hearted. Don't let your
affection for that old house cause you to overstate its value.
Caught
between two houses ... help! -- The
secret of moving between two houses, like comedy, is timing. You could be stuck
briefly without a place to live, or with two mortgages to pay. Here's help.
When
home appraisals go bad -- What
do you do when the appraisal doesn't meet the sales price? It can happen, and
it can foul up a deal.
Peak
home-buying season looms --
The busiest time of the year is May through August. If you
want to buy or sell a house during the peak period, get ready now.
How
to finance new construction --
If you think interest rates are going up, make sure you get
a rate lock.
Commentary:
Consumer debt levels are no crisis --
Debt has risen, but most of it is good debt that has
produced record levels of homeownership, says Doug Duncan, chief economist of
the Mortgage Bankers Association.
HUD
to add new no-money-down loan --
That's good news for home buyers, but a potential challenge
for the burgeoning down-payment charity industry.
No-money-down
mortgages -- With no down payment, you can avoid mortgage insurance
using an 80-20 loan.
No-money-down
houses? Not so fast -- The rapidly growing "down-payment
assistance" charities aren't good for all cash-strapped home buyers.
Changing
circumstances? Change your mortgage --
Some lenders in the industry believe you should evaluate
your mortgage as often as you do your portfolio.
Refinancing
still makes sense for many
-- So
what if the boom is over. Refis still work for those looking to shorten their
term, get rid of PMI or grab an ARM.
Closing
costs study reveals a shell game --
Bankrate's exclusive 50-state survey of closing costs shows
why it's hard for consumers to have faith in "good faith estimates."
PLUS: Closing
costs by the numbers
Where
do you draw the (home equity) line? --
Home equity loans will become even more popular when mortgage rates rise. How
much equity debt is too much?
Financing
your home remodeling job -- You need to measure your options
as carefully as you measure your lumber.
10 questions
sellers hope you don't ask -- Sellers often operate on a "don't
ask, don't tell" system. Here are crucial queries they won't volunteer to
discuss.
6
ways to slash mortgage costs -- Before slicing off your piece
of the American pie, make sure your mortgage financing is low fat.
Preventing
energy (and money) leaks in new homes -- Without due diligence
on the part of a new-home buyer, money could literally disappear out the window.
Beating
the no-down-payment blues -- Got the rate you want but not the
cash you need? Don't despair. There are plenty of ways to find help.
PLUS: 10
down-payment tips
Extended
rate locks for construction loans -- It's tough to lock in today's
low rates if your house won't be finished for a few months.
Biweekly
payments: Do it yourself and save -- There's little need to pay
for the heavily marketed automatic debit plans when it's so easy to set one up
yourself.
A
few mortgage brokers reveal their fees -- Upfront mortgage brokers
show borrowers how much they'll pay for the brokers' services.
Pros
and cons of VA mortgages -- The no-money-down option helps, but
they're not for everyone.
As
10-year Treasuries go, so go mortgage rates -- But the size of
the move isn't as easy to anticipate.
Falling
behind? Call your mortgage lender -- If a job loss or other financial
crisis hits, don't hide from your mortgage company. They would rather work with
you than foreclose.
Why
does mortgage APR matter? -- The real estate version of annual
percentage rate has some tricky rules that it pays to know.
QUIZ:
Are you ready for a mortgage? -- Before you buy, check your understanding
on how mortgages work with this quiz.
More
mortgage stories
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Mortgage
Checkup -- Here's how to look "under the hood" of your
mortgage -- you may be able to get rid of PMI, refinance or tap your
equity.
More
mortgage Q & A
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