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General-information Articles

Posted on February 13   By MLP Blog
It's hard to turn down a bargain. You've seen it on television: order in the next five minutes and get a free gift. Maybe you won't buy the latest gadget for $19.95, but if they throw in two gadgets, then how can you resist? The mortgage industry is exactly the same, with one catch: the money involved is a lot more serious. After all, if you can really find a "no-cost" mortgage, you could save thousands. Especially with Internet-based lenders like Popular‘s (Nasdaq: BPOP) E-Loan and GM.... Read More...
Posted on February 13   By MLP Blog
Although many of the 'pre-approval' letters you get through the post are worthless, there are types of pre-approval from lenders that can help you greatly when buying a house. If you can get pre-approval on your mortgage loan, then you will find it much easier to get the house you want quickly. If you want to know more about pre-approval for mortgage loans, then here are some facts to help you out. Apply before you buy Although many people used to look at homes before applying for a mortgage loa.... Read More...
Posted on February 13   By MLP Blog
The recent trouble in the sub-prime mortgage industry has made many people take pause. So it begs the question: what should you do if you’re a first-time home buyer and have bruised credit? Is a mortgage even possible? If you have less-than-perfect credit, don’t think you’re excluded from getting a mortgage–it still may be available to you. Lenders use four different factors to qualify you for a loan–credit is just one. The others include your assets, how much incom.... Read More...
Posted on February 13   By MLP Blog
As many homeowners dip into their home equity, a small but growing number are doing the opposite – paying off their mortgages quicker than lenders require. But is ending a mortgage sooner than necessary a wise move? There’s no simple answer. Financial advisers disagree sharply about whether, and when, such an approach makes sense. “I talk with clients about this every day, probably five, six times a day,” said Jonathan Satovsky, an investment adviser in Manhattan with Ame.... Read More...
Posted on February 13   By MLP Blog
Editor’s Note: First time home buyers can be confused by the process. There is the loan process, pre-qualification, looking for a home, documents for title, loans, insurance taxes etc. Here is an article on the subject: When it comes to lifetime markers getting a first mortgage is a major event. With a mortgage you”re magically transformed from occupant to owner and from tenant to titleholder. Applying for a mortgage used to be seen as a battle of sorts, a competition where the only .... Read More...
Posted on February 13   By MLP Blog
10 Critical Mistakes Most People Make When Applying for a Mortgage Mistake #1 – Becoming a ‘Rate Shopper’ Lenders love to run ads on TV and radio bragging about their super-low rates. Unfortunately, these rates aren’t all they’re cracked up to be. The rates you see in these advertisements are usually based on the best-case scenario. They require that you pay additional up-front fees and that you possess a perfect credit history in most cases. This is why we refuse t.... Read More...
Posted on February 13   By MLP Blog
Consumers interested in purchasing or refinancing a home will pay an interest rate based on current market conditions and their ability to pay back the loan. The borrower’s income and debt ratios are taken into consideration by the lender, as well as the predictability factor provided by credit scoring. It’s important to have a mortgage professional in your corner who has a keen eye for solutions to improving credit scores in an effort to get the best interest rate possible. Interest.... Read More...
Posted on February 13   By MLP Blog
This article was written to address what I consider the really "big ticket" items that simply cannot be ignored when buying or selling a home. These are things that, in my opinion, must be done to start the process of putting a house on the market to sell or to initiate the purchase of a home. For most of us our homes are the biggest asset we will ever have. Increasingly, it is the one asset by which we have accumulated equity or "wealth" of any significance and by which we can borrow against to.... Read More...
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