The Story:
In 2007, Sally was having trouble keeping up with her mortgage payments, and by September, she received a foreclosure notice in the mail. A few days later, she was called by a man who said he could help. He said she could have a check for $40,000 to help pay her bills, and she...
If you are sued in court and lose, the person who sued you may try to force the sale of your home to collect their money. A homestead makes it harder for them to do this.
A homestead protects some of the equity in your home. If your home is worth more money than you owe on it, you have...
The CML (Council of Mortgage Lenders) show that nearly 6 Million people have received mortgages that are interest only. Interest only mortgages means that your monthly payments are applied only to the interest accrued on the debt and not the actual debt itself. Additionally, the CML has found...
A home loan that you do not have to pay back for as long as youre alive or for as long as you live there? That sounds too good to be true, but thats what reverse mortgages do.
A reverse mortgage is a loan that you make where you do not have to pay back anything for as long as you still...
What Is A Reverse Mortgage And Should You Get One?
Who qualifies for a reverse mortgage?
You must be at least 62 years old and have equity in your home.
You have equity in your home if your home is worth more than you owe on it.
Heres how it...
Reverse mortgages are becoming popular among the senior citizens. They give seniors easy money in lieu of the part ownership of their home.
If you want to go for a reverse mortgage, the information below will help you:
What is reverse mortgage?
For senior citizens above 62...
Reverse mortgage is a new kind of loan against your home that you need not pay back as long as you live in that house. With reverse mortgage you can mortgage the value of your home in cash without repaying the loan every month and as well as without moving out of the house, and this cash can be...
What Is A No Doc Or Low Doc Home Loan?
A “Lo Doc” or sometimes call “Lo Doc Home loan” are mortgage or home loans where documentation for verification of your income is not required. However, all other documentation is.
These loans are ideally suited to...
A mortgage calculator is a wonderful tool that you should use anytime you are considering the purchase of a home. Because a home is likely to be the largest and most costly of investments that you make, it is ideal for you to insure that you get the best outcome for your home loan. You should...
Things such as County Court Judgements (CCJ’s) or a poor credit history can scupper the chances of you getting a personal mortgage because mortgage companies deem you a high risk.
If you are self-employed, and even have a pristine credit history, you may find it just as difficult to...
Insurance – we need it for our life, our car, our house, our health and yes, in some cases, even for our mortgage. Private Mortgage Insurance (PMI) is the mortgage industry term used to describe insurance that protects the lender of your mortgage against any type of default. It’s...
What documents do I need in order to deduct mortgage interest?
Many people are aware of how difficult it can be to perform normal tax processes when April comes around each year. On top of this, the more physical properties or complications an individual has in their life, the less...