What Is A Mortgage Insurance Premium (MIP)?

If you’re looking into relocating in the Sunshine State, why not go a step further and move in Sunshine City. Also known as St. Pete or The Burg - depends whether you’re talking ...

When it comes to whether a place is good for retirees or not, many people look at how peaceful it is and how affordable it is. Usually, a fast-growing and affluent town doesn’t match ...

When you hear about tiny homes or the tiny house movement, you’re probably already getting the gist of it. At least when it comes to the size of the house. The major difference ...

The city of Bowie, Maryland is today the largest municipality in Prince George’s County and it all started with a small railroad stop. With a population of about  60,000 people, ...

Finding the right place to live can be quite a struggle since you have many options, but how can you know what a city has in store for you. We would like to assure you that if you are ...

Severna Park is a census-designated place(CDP) located in the beautiful state of Maryland. More specifically, the city is located in Anne Arundel County and it is a short drive away from ...

The Miami metropolitan area has been one of the most popular tourist destinations in Florida. Amongst the coastline cities that populate the metro area, you can find the upscale city of ...

The city of Foley, Alabama, is located in the southernmost part of the state, only a short drive away from the Gulf of Mexico. The relatively small city has a population of approximately ...

A facility offered by some lenders to mortgage brokers where de jure the brokers become employees of the lender but de facto they retain their independence as brokers. One of the ...

Charging unwary borrowers interest rates and/or fees that are excessive relative to what the same borrowers could have found had they shopped the market. ...

A document that evidences a debt and a promise to repay. A mortgage loan transaction always includes a note evidencing the debt, and a mortgage evidencing the lien on the property. ...

A rate lock, plus an option to reduce the rate if market interest rates decline during the lock period. ...

A transaction in which interest is not paid on interest there is no compounding. For example, if you deposit $1,000 in an account that pays 5% a year simple interest, you would receive ...

An agreement by the lender not to exercise the legal right to foreclose in exchange for an agreement by the borrower to a payment plan that will cure the borrowers delinquency. ...

A documentation requirement where the applicant's assets are not disclosed. ...

Fees assessed by lenders when payments are late. Late fees are usually 4% or 5% of the payment. A borrower with a 6% mortgage for 30 years who pays a 5% late charge every month raises his ...