Anyone who’s a homeowner has likely gotten a call from a mortgage broker raving about record lows in interest rates. The option and inclination to refinance your home is there, but is it worth it? Below are some questions you should ask yourself before you are lured with a miniscule rate. 1)     How much time  … Read more

Loan modification is one the best ways to get your life back on track. You have a lot of bad debt credit—a new car or a significant balance on that 18-months, no interest credit card you financed that big screen with—and your children need new things for school. Loan modification seems like a great idea,  … Read more

From the vantage point of 2011, many mortgages that were good deals in 2003 are not so attractive now. One way that borrowers can change their plight is with loan modifications. A loan modification is essentially changing the terms of the original deal. These come in a variety of ways including: payment term extension, principal  … Read more

Recent studies in California show that mortgage modifications are hard to get for most, even homeowners who stand to benefit from the Obama Administration’s Home Affordable Mortgage Program, popularly known as HAMP.  According to the report, of 568,630 borrowers who have requested mortgage loan modifications, 46 percent were denied immediately, 23 percent received a permanent  … Read more

When homeowners find themselves in over their head when it comes to the matter of paying off their mortgage, the first thing most people try is contacting the lender.  Often, with the right amount of negotiation, you can get the bank to either temporarily or permanently lower the interest rates you pay on your mortgage  … Read more

This problem plagues a lot of homeowners. It can happen because of unexpected financial bumps in the road, or because the homeowners have variable income. Things like sales commissions, bonuses, tips, stock market etc., can all lead to these hiccups. Forbearance Agreement One option that a homeowner may try to take advantage of is Forbearance.  … Read more