Q: Will I save money if I make my regular monthly payment early? A: No, paying early merely allows the firm servicing your loan to earn interest on your money until the payment due date. This is not the case, however, if you have a simple interest mortgage (SIM). Because it accrues interest daily, the …
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According to an article by DSNews.com, and amount of mortgage borrowers who are delinquent in their payments has dropped to 6.19 percent (an amount they sourced to TransUnion). This percentage is allotted to the end of the first quarter of 2011, and is down from the 6.41 percent at the end of last year. The …
Homeowners, be forewarned: data from Interthinx shows that mortgage- and foreclosure-fraud is on the rise. Read the following article from DSNews.com for further information: “Data released Monday shows an increase in mortgage related fraud in areas with high rates of foreclosure activities and underwater borrowers. Risk analytics firm Interthinx released its annual Mortgage Fraud Risk …
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For the first time since 2009, Fannie Mae and Freddie Mac are raising risk fees charged to lenders on loans they buy for resale to investors. Fannie and Freddie also are adding risk fees to more loans offered to borrowers with exemplary credit. Although lenders could absorb the cost, most are expected to add the …