Wikipedia defines mortgage as: "While a mortgage in itself is not a debt, it is the lender's security for a debt." However it is considered good debt for consumers. When handled correctly, it can be and usually is your livelihood.

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Mortgage Lenders Profit From Foreclosure Not Modification

Monday, December 28, 2009, 6:33 AM | 3 Comments

The Federal Government initiated a program a while back called the Home Affordable Modification Program (HAMP). The basic logic behind it was to make loan modification easier and perhaps simpler for the consumers so that they would avoid foreclosure on their homes. But guess what? The lending institutions – perhaps your neighborhood bank as well, […]



Have more control over your homeownership future

Monday, September 21, 2009, 12:28 AM | Leave Comment

Have you fallen behind on your mortgage payments? If you have, don’t despair. Don’t think about defaulting on your mortgage loan. By following these steps, you can have more control over your home-ownership future than you think. So then, how to find the money you need You don’t necessarily have to have a checking account […]



Have A Specific Goal In Mind When You Apply For Loan

Sunday, August 30, 2009, 8:38 AM | 1 Comment

You gotta have a goal, a specific plan when you go to a lending institution and apply for a loan. Most folks do and they get a loan to spend on something that can potentially give them a return. There are, unfortunately, some who get a loan, at least when the credit was available in […]



The negative equity in your home is shrinking

Saturday, August 15, 2009, 7:47 AM | Leave Comment

What the heck is negative equity? If you have heard of mortgage underwater, then negative equity means almost the same, for us ordinary folks. I don’t know if there is a difference in technical definition. Let’s say your home is worth $200,000 and you owe $250,000 in mortgage, then you have negative equity of $50,000 […]



Calculators for mortgages

Thursday, July 9, 2009, 7:44 AM | 1 Comment

Whenever interest rates drop, the appeal of refinancing your mortgage grows. But it’s important to know the real costs – and potential savings – before making a move. Homeowners can see how their existing mortgage payments might change if they were to refinance, and, just as important, how long it would take to recover any […]



Short Sale Is Definitely Better Deal If You Have The Money

Thursday, March 12, 2009, 7:38 AM | 1 Comment

In this lousy market, there is a phenomenon known as underwater mortgages. That means the house is worth less than the mortgage loan still remaining to be paid on the property. If you sold the house in this kind of situation, the money you get from the sale will not be enough to pay off […]



Is REO a better deal if you have the money

Wednesday, March 11, 2009, 7:08 AM | Leave Comment

Doing some research via my favorite search engine, I came across a phenomenon called Real Estate Owned property, or REO. Simply stated, these properties belong to mortgage lenders, mostly banks. They outright own the property. REO kicks in as follows: Foreclosure begins with a homeowner’s failure to make a mortgage payment and ends on the […]



Tips To Consider Before You Decide To Refinance

Saturday, March 7, 2009, 12:08 AM | Leave Comment

Refinancing a mortgage means paying off an existing loan and replacing it with a new one. There can be many reasons why homeowners will want to refinance. Some of them might be: The opportunity to obtain a lower interest rate The chance to shorten the term of your mortgage To convert from an adjustable-rate mortgage […]



Tips When You Can’t Make Mortage Payments

Monday, February 16, 2009, 12:24 AM | Leave Comment

In most people’s cases, housing is their biggest expense. If you are having trouble making mortgage payments, you have some potential options to think about for modifying your housing cost. As home prices continue to fall and more borrowers find themselves in need of a modification, correctly dotting the i’s and crossing the t’s has […]



Refinance Calculator

Tuesday, January 6, 2009, 6:00 AM | 1 Comment

Are you looking to crunch some numbers? We’ll help. Calculate your monthly mortgage payment. Read more…