Five things to know when making extra loan payments

This is a good time to pay down your mortgage: One of the vexing features of the post-crisis financial system is the dearth of riskless investments paying a decent return. The rates on federal government securities and insured certificates of deposit (CDs) are not much greater than zero. Yet every homeowner with a mortgage has …

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The advantages of preapproval

The housing market is warming up in many areas, with multiple offers becoming more commonplace. Buyers who want an advantage in the bidding process will need more than a mortgage prequalification – they will need a preapproval. The differences between mortgage prequalification and preapproval are significant. Prequalifying for a mortgage is based solely on what …

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8 scenarios that hurt mortgage qualification

“8 scenarios that hurt mortgage qualification What you should know if you’re divorced or have student loan debt Do I jeopardize my mortgage application by changing jobs before the loan closes? Yes. The underwriter approved your application based on your documented income covering two years or longer, from one source. At closing you must certify …

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Real estate tips to guard against losing your home

Real estate tips to guard against losing your home Time and time again, home-buyer wannabes state that the reason they are still fence-sitting is that they don’t want to end up in the same trouble the last generation of homeowners did. Well, there’s a very slim chance of that happening, given the changes in the …

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