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mortgage : Insurance

Can a Married Couple Deduct Mortgage Interest on Two Homes?

The mortgage interest income tax deduction allows taxpayers, including married couples, to write off the interest paid on mortgages on the first home and a second home as long as the second home meets the qualifications.

Are All Forclosures Cash Sales?

The goal of a foreclosure is to recover the money owed to the lender. When borrowers first take out a mortgage, they sign a contract that gives the lender the ability to seize the house through legal action if the borrower stops making payments for an extended period of time. Foreclosures are typica

What Can HELOC Loans Do

Home equity line of credit works in a similar fashion as a credit card, except that it is secured and protected by the equity in your home. Here the term equity is clearly defined as the equation - Ma

How to Avoid a Scam

No one wants to fall for a scam. Scams can come in the form of emails requesting to use your bank account, false lottery winnings, work at home ventures, or any other number of ways. While some scams are pretty obvious, others may be more difficult to recognize. It is particularly tricky to avoid a

What Is a Fair Rate for Mortgage Insurance?

Most people use a mortgage loan for the purchase of a home. Often, people are able to make a monthly mortgage payment, but have not saved enough money for a down payment. When this situation occurs, the mortgage lender may require the borrowers to pay private mortgage insurance to protect them in th

Mortgage Protection Act

The Mortgage Protection Act was enacted in 2002 by the state of Michigan. The act prohibits certain lending practices and requires lenders to provide specific information to customers. This information includes facts on home loans, duties and obligations of lenders in a mortgage. The act also descri

Summary Consumer Mortgage Disclosure Notices and Laws

Federal laws require lenders to disclose terms and conditions to applicants.paperwork 2 image by chrisharvey from Fotolia.comFull disclosure is an important principle in real estate. Mortgage loans generally involve disclosures that the borrower must acknowledge before obtaining the...

Obama's College Grants & Scholarships For Moms

Mothers who want to continue their education step back only because of lack of sufficient money. But President Obama has found a solution for this problem and those who genuinely want to improve their

Comparisons on Lowest Mortgage 30 Year Fixed Refinance Rates

When shopping for an interest rate on a home refinancing, of course you want the best deal. However, many homeowners rush to refinance when interest rates decline and make the mistake of shopping for rate alone, which may not always add up to the best value. Shoppers should also be on the lookout fo

Is It Worth It to Refinance My Home?

When mortgage rates begin to drop, many homeowners begin wondering whether they should refinance their home mortgages in order to have a lower monthly payment. Before you decide whether you should refinance, make sure you qualify. This means that you should be employed and have a credit score of 720

Removal of a Name From a Mortgage

Getting your name off a mortgage is not an easy task. When it comes down to it, there are only two ways to get it done: The home either has to be refinanced or it must be sold. When you put your signature on the mortgage papers, you legally promise to pay back the money you borrowed to buy the hous

What Is the Home Affordable Modification Program?

The Home Affordable Modification Program—also called HAMP—is one of a suite of programs that President Obama introduced to stabilize the housing market and improve the economy. HAMP is designed to help struggling homeowners reduce their monthly mortgage payments and avoid foreclosure. Un

A Closer Look at the Reverse Mortgage Purchase Program

Before early 2009, seniors were selling their homes, purchasing new properties, and then taking reverse mortgages. This was a long and often expensive process. To accomplish this, seniors were forced to get two separate loans. ...

How to Choose a Home Loan

For most people, getting a home would be the most expensive investment ever made in one's lifetime. That's simple because of the long term financing required. A home loan (or mortgage loan) is considered a ...

How Are Mortgage Structured?

Mortgages are constructed of various components, the biggest components that most people have heard of, whether they have done a mortgage or not, are the principal, interest, taxes, and insurance, AKA