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mortgage : Insurance
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.
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
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
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
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
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...
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
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
Did you know that first time home buyers can get up to an $8,000 tax credit from the federal government towards the purchase of a new home? Did you also know that the deadline for qualifying was recen
A reverse mortgage is a unique type of loan that actually pays the borrower. These loans allow borrowers to access a portion of the equity in their home, which they will receive as a lump sum, in inst
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
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
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. ...
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Mortgage means a conveyance of property to a creditor kept as security for the debt being given. Loans taken for purchasing one's own house is referred to as home mortgage loans. They are usu