03 Sep 2014
By Mark Feder

Applying for a Mortgage? Three Questions Your Lender Will Ask You – and How to Prepare Your Answers

Home Mortgage Tips
Before approving a mortgage, your lender is going to have to do his due diligence to ensure that you can afford a loan large enough to pay for a house. That means your lender will be asking you several questions about whether or not you can afford a mortgage. Here's how you can prepare to answer these questions in a way that will increase your likelihood of approval. How Stable Is Your Income? Your lender is going to want to know that your income is going to be stable over the life of the loan. This means that you should…
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27 Aug 2014
By Mark Feder

Refi or Wait? How to Choose Between Refinancing Your Mortgage Now or Waiting Until You Need the Money

Home Mortgage Tips
Refinancing your existing mortgage may provide you with the opportunity to lower your interest rate, reduce your mortgage payment and adjust your loan term. For those homeowners who have lived in their home for more than a few years, pulling equity out of the property for everything from a luxurious vacation to making home improvements is a tempting potential benefit. However, with property values and interest rates adjusting frequently, you may wonder if now is the best time to refinance your mortgage. Using Equity From Your Refinance One factor to consider when debating between refinancing now and waiting relates to…
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21 Aug 2014
By Mark Feder

Separation Anxiety: How to Deal with a Joint Mortgage Loan in the Event of a Divorce

Home Mortgage Tips
During the course of a marriage, it is common for the couple to acquire property together. This is what is referred to as joint or community property. When a couple divorces, it is up to the parties involved to determine what happens to this joint property or let a judge use applicable law to determine how property is to be split. What Happens To The House? A couple of options are available when deciding what to do with a house where both partners are listed on the mortgage. First, the couple may decide to simply sell the home and split…
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19 Aug 2014
By Mark Feder

Scam Alert! Three Mortgage Modification Scams to Watch out for (And How to Avoid Them)

Home Mortgage Tips
As if homeowners who are facing foreclosure don't have enough to worry about, a multitude of loan modification scam artists have invaded the internet, public files and even foreclosure notices in newspapers in hopes of targeting their next victim. By identifying the top three modification scams and learning how to avoid them, at-risk homeowners can protect themselves (and their homes). Never Pay For Mortgage Modification Assistance Many desperate homeowners fall victim to scam artists who offer to provide them with assistance in the loan modification process for an exorbitant fee. Many times the scam artist who promises to provide assistance…
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