http://blog.mortgage101.com Tue, 06 May 2008 23:36:31 +0000 http://backend.userland.com/rss092 en When something as important as your home mortgage is concerned, it is especially important to recognize and avoid scams. A variety of fraudulent schemes have deceived home owners into turning over their deed and still owing money on the mortgage, exposing sensitive financial information, and/or having to pay excessive fees. ... http://blog.mortgage101.com/2008/05/06/how-to-recognize-mortgage-scams/ Last month HUD, the federal Housing and Urban Development agency, proposed an overhaul of the process for obtaining a mortgage. This overhaul would require mortgage brokers and lenders to supply borrowers with a "Good Faith Estimate" and more specific information about the mortgage or refinancing option they are applying for. According ... http://blog.mortgage101.com/2008/04/30/hud-and-the-mortgage-overhaul/ With the recent mortgage crisis, adjustable-rate mortgages are starting to get a bad reputation. However, ARMs still have some positive aspects. Most adjustable-rate mortgages have interest rates that change every month, quarter, year or 5 years. These time periods between rate changes are called the adjustment period. If you are ... http://blog.mortgage101.com/2008/04/28/using-adjustable-rate-mortgages-smartly/ The FICO score is a kind of credit score assigned to American individuals with a credit history. Its name refers to the Fair Isaac COrporation, which created this scoring system. Differences in a person's FICO can impact what sort of interest rates they qualify for on home mortgages, credit cards, ... http://blog.mortgage101.com/2008/04/25/what-is-a-fico-score/ It can be more difficult for single parents to attain homeownership because it is harder to save for a down payment and make monthly mortgage payments with a single income, along with the additional living expenses of children to afford. A variety of homeownership programs are offered by the government and ... http://blog.mortgage101.com/2008/04/23/homeownership-programs-for-single-parents/ Although there are two different types of points in mortgages, most of the time people are referring to a discount point. Discount points are money you pay as a percentage of your loan. It’s basically prepaying interest in exchange for a lower interest rate over the life of your loan. ... http://blog.mortgage101.com/2008/04/21/how-many-points-should-you-pay-on-a-mortgage/ When you or a hired contractor carries out home improvement work, a permit may be necessary. You will need to determine who is responsible for obtaining it, whether or not the improvement in question requires it, and how large a fee must be paid. Here are some details on successfully ... http://blog.mortgage101.com/2008/04/18/getting-a-home-improvement-permit/ Attending an auction when buying a home can potentially save the buyer money, but there are some additional aspects to take into consideration which don't apply with regard to typical real estate sales. Here are some details on how and where buying a home at auction is possible: Various national government ... http://blog.mortgage101.com/2008/04/16/buying-a-home-at-an-auction/ Selling your home by yourself, without the help of a realtor, has several pros and cons. The greatest advantage is with regard to overall cost, but there are some drawbacks in the areas of convenience and initial expense. Here is a full list of pros and cons involved in selling ... http://blog.mortgage101.com/2008/04/14/pros-and-cons-of-selling-your-home-yourself/ Several factors should be taken into consideration when you are looking to find the right real estate agent. This will provide a better idea of the agent's effectiveness and the convenience of working with him or her. Here are some tips on how to find the best real estate agent ... http://blog.mortgage101.com/2008/04/11/tips-for-finding-a-real-estate-agent/