How Large Prepayments Impact Mortgage Payments
On home mortgages, a large payment to principal reduces the loan balance and with it the fully-amortizing monthly payment, or FAMP.
Rent v Own 2.0
Ah, the momentous choices. It seems that American citizens through history are always being asked to pick sides.
Reverse Mortgages on High-Priced Homes
As a federally insured reverse mortgage program under the Federal Housing Administration, the home-equity conversion mortgage program is not designed to help the wealthy.
Trouble Qualifying for a Mortgage? Try Again Later
Consumers whose credit scores are not among the highest might want to wait until early next year before financing a home purchase or refinancing.
The Business of Credit Scores
Joseph is 43, owns a house outside Los Angeles and works in the entertainment industry.
Big Benefits to 15-Year Mortgage
The 15-year fixed-rate home mortgage is far and away the best option for consumers because of the low interest rate.
Prepaying Your Home Loan
Many mortgage borrowers at some point consider making extra payments or refinancing but are confused as to which would serve them better.
Understanding the Impact of Bad Credit Scores
Most Americans know that a good credit score is essential to the health of their personal finances.
Seller Paid Closing Costs on Home Purchase
Question: In an effort to sell my house, I agreed to pay up to $8,000 of the buyer's closing costs.
Overcoming the Gotcha Reverse Mortgage Market
Last week's article indicated that the market for home equity conversion mortgages -- the federal government's reverse mortgage program -- is not a shoppers market because the product is not well-defined, the prices charged are obscure, and borrowers have no reason to be confident that the product selected will be delivered at the agreed-upon price.