How to Pay Off a Second Mortgage Early

( – Even with bad credit conditions still roaring, borrowers are still getting qualified to take out a second mortgage. Some homeowners choose to take out a home equity loan for some extra cash, while others are forced to do so based on financial obligations or needed home repairs. Whatever the reason may be, it’s always wise to determine exactly how the loan will be paid off, and some may even consider paying the loan off early. Eliminating your second mortgage faster will allow you to be free of an additional financial burden. There may be several ways to go about doing this. (more…)

How to Get a Loan Modification in 2013

( – 2013 is becoming a great year to purchase a home and refinance loans, as interest rates at record lows and home prices still very low in many areas. But is it a good year to get a loan modification? (more…)

10 Tips to Short Sale Your Home Fast

( – Nobody looks forward to short selling their home (a short sale means a homeowner, because of poor financial situation, sells their property for less than the amount due on the mortgage(s), with all the proceeds going to the lender). Each short sale processed is dependent upon the seller’s lender(s) approval to release the lien in exchange for less than the amount owed on the debt. (more…)

What Is a Mortgage Interest Rate?

( –You generally can’t get something for nothing, and this is especially true when it comes to borrowing money. The interest rate associated with a home mortgage might seem overwhelming when there are commercials, billboards, and advertisements by lenders all promising the “lowest rate” and largest savings. The truth is that actual lenders don’t have a lot of say about general interest rates, especially when it comes to conventional home loans. (more…)