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Category | Mortgage Resources

Homeowners Associations: Benefits of Membership

Homeowners Associations have grown up all over the USA over the past few years. What are the benefits of membership, and is there a downside to membership of an HOA? Opinion is mixed between those who like living in a well organized housing development and those that feel it to be too restrictive. The prime […]

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Estate Planning and Mortgage Loans: Protecting Your Heirs

What do you do about your outstanding mortgage loans in estate planning? At one time it was everyone’s goal to clear their mortgage and for their property to be owned outright with no payment burden on their heirs. Today, however, this is not always possible due to high property and land prices, and various mortgage […]

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Title Insurance: Is it Necessary and Why?

Title insurance protects you from problems relating to the title or ownership of your home. Most properties have passed through many different hands, involving many different contractual agreements. It only takes one of these to have been sloppily researched for somebody to lay claim to your home because their great-grandparents were cheated out of it […]

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Buying Distressed Properties: Is it Worthwhile?

Buying distressed properties is not the route to profit it once was, although you may still be able get some great bargains if you know what to look for. Foreclosures are still quite common, although many are in a state of disrepair. If the owners were able to maintain their homes, they would likely have […]

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Real Estate Offers: What to Offer When Buying a House

When making an offer on a home, it is important to make sure you are making an educated offer. You know what the seller is asking, but you should never just offer that asking price. You must first fully understand what you would be buying, and whether or not that price was fair before making any […]

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Mortgage Amortization and Mortgage Repayments

Mortgage amortization is designed to allow you to pay the same monthly mortgage repayments for the entire term of your mortgage loan. The interest on a mortgage is a large part of your monthly repayment. However, it reduces each month – why is that when your payment remains the same? Briefly, the relative amounts you […]

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Joint Mortgage and Joint Ownership: Which is the Better?

A joint mortgage means nothing more than that two people are sharing the responsibility for paying the mortgage loan. Both names are included on the loan agreement, and both are equally responsible for ensuring that the mortgage loan is repaid as contracted.  It does not infer that each has a share in the ownership of […]

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IMN Loan Programs: HomeStyle Renovation Loans

A HomeStyle renovation loan combines home purchase or refinance with home improvement financing in one loan with one closing. The HomeStyle renovation mortgage provides a convenient way for borrowers to make renovations, repairs, or improvements totaling up to 50 percent of the as-completed value of the property with a first mortgage, rather than a second […]

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Mortgage Qualification: What is a Qualified Mortgage?

Mortgage qualification is a process carried out by lenders to ensure that the borrowers can meet the monthly repayments. Lenders have traditionally used the term in an informal way. However, a ‘Qualified Mortgage’ has now become a defined term.  A requirement of the 2010 Dodd-Frank Act, a qualified mortgage is fundamentally one that the borrower […]

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Loan Modifications: Their Purpose and Eligibility

Loan modifications often become necessary when borrowers are unable to maintain the terms of their mortgage loan. It is also referred to as a mortgage loan modification or restructuring. A loan modification would typically be offered if a borrower’s mortgage payments were in excess of 38% of their income and they had missed 3 monthly […]

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