13 Mar 2019
By Mark Feder

6 Ways to Fight Foreclosure

Mortgage
Sometimes, things don't go as planned. Despite the best intentions, there are times when it's impossible for homeowners to fulfill their mortgage obligations. When your misfortune turns into a foreclosure notice, these tips will help you control the situation and realize the best outcome. Work With Your Lender Open the lines of communication with your lender to stall the foreclosure process. Call your lender and explain your predicament. Give them specific details about the nature and estimated length of your circumstances. Many lenders are willing to temporarily modify payment terms to temporarily accommodate certain hardships. Apply for a loan modification.…
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12 Mar 2019
By Mark Feder

Is Now a Good Time to Cash Out Your Home Equity?

Mortgage
For many Americans, their home is their primary investment. The equity stored in your residence can be a source of available cash for home repairs, upgrades, or for financing the purchase of investment properties. However, few homeowners really understand the process that results in home equity.  What Is Home Equity? Your monthly mortgage payment goes towards two different amounts. The first is the interest that you pay for the loan. The other is your principal payment or the amount that counts against the initial amount that you borrowed for the purchase. Depending on the details of your loan contract, each…
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13 Aug 2014
By Mark Feder

Mortgage Terms 101: Understanding ‘Cash-Out Refinancing’ and How to Determine if It’s Worth It

Home Mortgage Tips
With interest rates remaining near historic lows for the past several years, many of your friends and neighbors may have already told you that they have refinanced their home mortgages once or even a couple of times. A cash-out refinance can provide you with several important benefits, but it is not the best option for all homeowners. By learning more about what a cash-out refinance is and what the pros and cons of this type of refinance loan are, you can make a decision that is best for your current and future plans. What Is a Cash-Out Refinance? When you…
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17 Jul 2014
By Mark Feder

An Insider’s Guide to Reducing Your Remaining Mortgage Years Through a Smart Refinance

Home Mortgage Tips
Is it always the best idea to pay off a mortgage over 30 years? While it may help a homeowner lower his or her monthly payment, it can mean paying more in interest and waiting several more years to build sufficient equity in the home. The question is...how can a homeowner reduce the amount of time it takes to pay off a mortgage by refinancing his or her loan? A few methods for reducing your mortgage term are explained below. Refinance From A 30-Year Mortgage To A 15-Year Mortgage For those who don't want to wait any longer than necessary…
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