The amount the borrower promises to repay, as set forth in the loan contract.
The loan amount may exceed the original amount requested by the borrower if he or she elects to
include points and other upfront costs in the loan.
Often referred to as a “second mortgage”, a home equity loan is a type of loan where the borrower disposes to the lender its equity to the home as collateral.
To ...
A borrower who submits applications through two loan providers, usually mortgage brokers, without their knowledge. Home purchasers sometimes submit more than one loan application as a way ...
A mortgage on which all settlement costs except per diem interest and escrows
are paid by the lender and/or the home seller. A no-cost mortgage should be distinguished from a ...
Someone authorized by the original credit card holder to use the holder's card. While authorized users are not responsible for paying any charges, including their own, they are sometimes ...
Wondering what is the effect of paying extra principal on a mortgage – if there’s any?
Well, it actually does have a big effect and – if you do have available funds to do ...
You saw a property you love and want to buy it, but you have no money to do that. So you ask us how do you buy a house with no money.
Well, that’s a funny question… if you ...
To understand what is a subprime mortgage, we need to talk about the subprime definition. Subprime means something that is not in the best conditions and, in this scenario, it refers to a ...
Paying points for a lower interest rate is a trade off between paying money now versus paying money later. A point - equaling 1% of the total loan amount - is an upfront fee that reduces ...
Are you like “OMG! I forgot my mortgage payment! What happens now? Will I have to pay double the value I had to pay?! Are the cops coming to get my house?!”
Calm down. ...
All foreclosures have the same cause - missed payments. Financial difficulties come without notice. You may lose your job overnight, your business may no longer fight with the competition, ...
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