Insurance Requirements for Mortgage Borrowers
Exactly what kind of property insurance is required by law if I have a mortgage? Every year or two, the requirements and costs seem to go up, and now the amount of coverage my lender wants is out of line with the value of my home. Also, can the lender force me to include the insurance payment with my monthly mortgage payment?
Deciding On New Mortgage Options
Mortgage borrowers choosing between different types of mortgages face a puzzle, and that puzzle may be particularly perplexing today.
Contemplating Reverse Mortgage Products
Home equity conversion mortgages, the only type of reverse mortgage insured by the U.S. federal government, reputed to carry high upfront fees, which raises two questions.
Understanding Credit Lines Secured by Your Home
You recently pointed out a slew of problems now faced by borrowers who took out home equity line of credit-style loans, or HELOCs, before the financial crisis. Their timing was terrible, but that's water over the dam. Are conditions now more favorable to borrowers taking out HELOCs?
Many Can Benefit from Government Refinance Program
Many homeowners have heard of HARP, the Home Affordable Refinance Program, which was introduced a few years ago to help homeowners who were "upside down" on their mortgages to refinance and take advantage of decreasing interest rates.
Understanding Mortgage Closing Dates
When buying a home, there is no financial advantage to closing a mortgage on any particular day of the month. When refinancing, however, it's not a good idea to close on a Friday.
When to Accelerate Mortgage Paydown
We are allocating $600 a month to savings. Should we pay down our 4 percent mortgage or put the savings into our retirement account?
Understanding Reverse Mortgage Options
As you near retirement, you may foresee a need for more money in the golden years than your savings can handle.
International Concerns Pull Down US Mortgage Rates
Worries over the Greek debt crisis and the swooning Chinese stock market made it a bit cheaper to get a mortgage this week.
Homebuyers Jump to Action as Rates Rise
After renting a two-bedroom unit for four years in a Pittsburgh suburb, Andy and Sarah Hadad decided the time had come to invest in a home where they could raise their 3-year-old daughter and build equity for their future.