BAD CREDIT MORTGAGE is designed for homeowners having bad credit record. If you have a bad credit record and looking for first time buyer mortgage, you can get it at competitive rates. Time has changed now, lenders also offer bad credit mortgage without being reluctant. They are aware of the general causes of bad credit.
There were times when lenders used to avoid offering loans to the borrowers (more…)
Before we talk about what happened with mortgage rates this week lets do a quick recap of what happened last week. Last week mortgage interest rates made a sudden jump over the previous week.
For the entire month of June and July 30 year mortgage interest rates only fluctuated from 6.09 to 6.45. Then last week 30 year mortgage rates suddenly jumped from 6.26 to 6.63. At the time we predicted (more…)
The Financial Crisis created by sub prime mortgages which affected nearly every bank and financial institution around the world, began towards the end of 1999 but stayed under the radar until 2006 when it became apparent that a horrific problem was at hand.
The word “mortgage” comes from Old French and translates to “dead pledge” meaning that an obligation dies when an agreement (more…)
Thousands of home owners have been insured by the FHA. The loans they have taken are protected by the government through the FHA and in the event of their default will be covered. When you have FHA mortgage insurance, you cannot remove it from a loan although PMI can be removed. The latter is a kind of insurance policy designed to protect lenders from borrowers who are very (more…)
Finding a reputable and competent mortgage lender when you are in the need of a mortgage with bad credit is easier in today’s market since there are more lenders and there are more lenders who are willing to specialize in loans for people with bad credit. No matter what the reason for your bad credit record, if you look for the best possible lender, you are less likely to be ripped (more…)
Purchasing your first home will be an exciting, albeit stressful experience. Much of the emotions first time home buyers experience is a direct result of the sheer amount of planning, preparation and the final stages where they are buried under documents, legalities and paperwork. For these reasons and so that you can walk into your new home somewhat unscathed, knowing a few things (more…)
A mortgage is a practice by which the ownership of the property is passed from the mortgagor, to the mortgagee, in return for the loan of the money, the mortgagee is the lender and the mortgagor is the borrower. The mortgagee has limited rights on the property until the loan is paid off. Most probably the mortgage loan is taken for home improvements, or financing college education. The interest rate for mortgage (more…)