June 13th, 2008
FHA Closing costs differ from conventional mortgages by the amount the lender can charge and the amount of insurance coverage homeowners are required to have. FHA mortgages are the last of the government sponsored mortgages. Fannie and Freddie started out as a government charter but privatized over a decade ago. Since FHA is government operated, there are specific safeguards which have been designed to protect borrowers from paying too much closing costs. However, as is the case with most government programs, there’s loopholes. Read the rest of this entry »
Tags: closing costs, Discussion, fha closing costs, FHA Mortgages, Mortgage Tips, typical closing costs, unnecessary closing costs
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June 12th, 2008
Unnecessary closing costs are charged to unsuspecting borrowers on almost all mortgages that close. Closing costs can be broken into three general categories, costs that the lender charges, costs that third parties charge and money that is paid on your behalf i.e. taxes and insurance. Due to the scope of this article, we are unable to go into detail in each category. However, there will be a link at the end of this article for a tutorial that does.
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Tags: closing cost, closing costs, Discussion, how do you determine closing cost, Mortgage Tips, no closing cost refinance, unnecessary closing costs
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June 12th, 2008
Today more and more people are turning to balance transfer credit cards to help save money. With mortgage companies being fickle about whom they loan money to, and gas prices at $4 bucks a gallon people’s credit card balances are stacking up. Fortunately there are still a few credit cards on the market that offer balance transfer credit cards for fair credit. We thought we would do our part and outline some of the best credit cards that are on the market for those with fair to average credit. Read the rest of this entry »
Tags: Credit Cards, credit cards for fair credit, fair credit credit cards
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June 7th, 2008
Have you ever wondered how to compare mortgages from lender to lender? What a pain! Factor in a salesperson with the “car sales” mentality and you can go crazy trying to decide which deal is really the best.
Having worked in the mortgage business for quite some time I thought I would share with you the easiest way to figure out who is really offering the best deal. This method is good for 90% of the people in the home market today. Read the rest of this entry »
Tags: credit borrowers, credit score, Mortgage Basics, Mortgage Tips
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June 7th, 2008
I just read an article that is titled “Taking a hard line on rewriting the bankruptcy code” by Edward L. Glaeser, a professor economics at Harvard University. I am in awe at how well it summed up the mortgage crisis in one short article.
I am a retired mortgage broker and a writer for several web sites about mortgage related matters and have yet to communicate with clarity the message as well as he did. If you are interested in a real strategy for ending the mortgage crisis I suggest that you Google the article title. Read the rest of this entry »
Tags: Discussion, Editorials/Articles
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