Questions from readers about why and how to pay off a mortgage early outnumber those I receive on any other topic, including loan origination. Borrowers typically spend only a few weeks, at most a few months in acquiring a mortgage, but they usually have the mortgage for many years.
A home loan is the largest loan that most of us will ever take out. A home purchase represents the biggest purchase that a person can make. Most home loans are either 30 or 15 years. But the average is about 30 years on a fixed rate. After a few years have gone by, it makes sense to wonder how you can pay off your loan faster. These tips can help you get ahead.
Buying a home is so much more than finding the perfect place, applying for a home loan and budgeting for a monthly mortgage payment -- it's thousands of dollars more than many homeowners expect.
Providing small mortgage loans at non-subsidized prices affordable to the borrower has always been a challenge. The core problem is that the high cost of originating and servicing a mortgage loan is no smaller for a small loan than for a large one, but there's more to it.
It's the American dream - having your own home. No longer having the need to pay the landlord. Living on your own terms and decorate it anyway you wish. Have family and friends come over for the holidays and cook outs, or anytime you want.
Over the last decade, reverse mortgages have been aggressively pitched in TV ads as an easy way for seniors to cash in their home equity to pay for living expenses. However, for many, improper use of the product -- such as pulling all their cash out at one time -- has led to significant financial problems later, including foreclosure.
"When borrowers first see how little of their monthly mortgage payment is applied to paying down the principle in those first
The American Dream of owning your own home is becoming more distant for many millennials. From 2006 to 2011, consumers between the ages of 25 and 34 experienced the largest decline in homeownership of any age group, according to Census Bureau data.
As a general rule, it's wise to take 20 percent less than what the bank will lend you.
Six digits of debt are intimidating, especially when you're a single homeowner. But at 29 years old and just 15 months after buying my house, I've already paid $100,000 off my mortgage.. and I plan to pay the other $155,000 off before I turn 31.
Jumbo loans - high dollar loans typically starting at $417,000 in most areas or as high as $625,501 in higher-cost markets - will see a lot of changes in 2014.
Drones As one real estate professional predicted recently for 2014, a drone accident masterminded by a maverick real estate