Finance Globe Blog

U.S. financial and economic topics from several writers.

4 Signs You Aren't Ready for a Mortgage

4 Signs You Aren't Ready for a Mortgage
Purchasing a home has long been considered an essential part of the American Dream. That dream can turn into a nightmare in a matter of weeks if you purchase a home before you’re ready. Wondering whether you’re ready for a mortgage? Here are some signs you’re not. Your credit isn’t in great shape. Not only does your credit score influence whether you can get approved for a mortgage, it also plays a big role in the cost of......
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Want a Mortgage Loan Modification? Do These Things

Want a Mortgage Loan Modification? Do These Things
Are you facing challenges when it comes to making your mortgage payment in full and on time every month? Are you ready to make a change for the better? If you’re interested in remaining in your home, it may be time to discuss a mortgage loan modification with your lender. This may sound like a long shot, but remember this: your lender doesn’t want you to face financial struggles. Instead, they would much rather you make you......
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Frank
My family had to go through this. I would recommend to be very patient, this process takes a long time. I know you may want an ans... Read More
Tuesday, 24 January 2017 17:26
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Ask a Mortgage Broker These Questions

Ask a Mortgage Broker These Questions
When shopping for a home, there will soon come a time when you turn your attention to the mortgage process. In other words, you’ll need to answer this question: which lender can provide you with the best loan product? Rather than beat yourself up, rather than worry that you’ll never make the right decision, it’s best to use a mortgage broker. In short, this person is staffed with the responsibility of shopping around on your behalf. In th......
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Frank
If you are going to use a mortgage broker, I highly recommend to speaking and interviewing atleast 3. These are usually very sales... Read More
Monday, 21 November 2016 18:20
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What is Mortgage Protection Insurance?

What is Mortgage Protection Insurance?
There is no denying the fact that your home is one of the biggest investments you will ever make. For this reason, you want to ensure that it is kept safe in the event of your death. This is why so many people opt to purchase mortgage protection insurance. With this policy in place, your family is guaranteed a tax-free payout if you pass on. This money can then be used to make mortgage payments. Here......
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Frank
Not many people think of this, but I think it is a great idea, especially for people who have families.
Wednesday, 22 June 2016 18:56
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A Mortgage Broker can Answer Many Questions

A Mortgage Broker can Answer Many Questions
As you search the market for your next home, don’t forget to spend an equal amount of time on the process of securing a mortgage. Without this, you may find it impossible to move forward with a purchase. Generally speaking, there are two ways to secure a mortgage: •    Work with a broker.•    Search and compare lenders and loan products on your own.There are pros and cons of both, but for the sake of this article we ar......
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Frank
Chris, any recommendations on where to look to find a reliable mortgage broker?
Friday, 17 June 2016 13:04
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Can You No Longer Afford Your Mortgage?

Can You No Longer Afford Your Mortgage?
If you find yourself unable to make your mortgage payment, it’s not time to give up your home just yet. There are steps you can take to remain in your home, all without putting your finances in jeopardy. Conversely, it may be time to leave your home in the past and start fresh. It all depends on your situation and what you hope to accomplish. Here are several ideas to consider: 1. Loan Modification When your m......
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Frank
As Chris said, definitely exhaust #1 and #2 before you do a short sale. This situation can create a lot of problems.
Sunday, 22 May 2016 18:02
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7 Mortgage Questions for First Time Homebuyers

7 Mortgage Questions for First Time Homebuyers
If you are buying a home for the first time, the process can be overwhelming (to say the least). Not only do you need to find the right home, but it’s likely that you will require a mortgage to complete the purchase. Nobody wants to choose the wrong type of loan. Furthermore, nobody wants to get hooked up with a mortgage lender that doesn’t have their best interests in mind. That being said, here are seven of ......
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Frank
On number 7, I would recommend getting quotes from at least 5 lenders. This is a big decision and a lot of money over time. You sh... Read More
Sunday, 22 May 2016 17:40
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A Few Things to Know About FHA Loans

A Few Things to Know About FHA Loans
If you are interested in an FHA loan, you are not alone. But before you can apply for and take advantage of this type of loan, there are a few things you need to know.Here is how Zillow defines an FHA loan: “An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). Nowadays, FHA loans are very popular, especially with first-time home buyers because the requirements are less strict than c......
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Frank
If you think you are eligible, I would definitely recommend to research further. The benefits are excellent and can really help a ... Read More
Sunday, 22 May 2016 17:39
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Mortgage Refinance Questions you need to Answer

Mortgage Refinance Questions you need to Answer
Do you have a mortgage? Are you interested in a possible refinance? If so, you won’t have to look far to find a few lenders that are willing to help you out. Before you decide for or against a mortgage refinance, it is important to answer several key questions. The answers you collect will help you decide which steps to take next. Below are five mortgage refinance questions you need to answer right now: Will you b......
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Answer these Mortgage Rate Lock Questions

Answer these Mortgage Rate Lock Questions
Are you confused by how a mortgage rate lock works? Are you wondering if this is something you should even consider? When buying a home, you want to take as much guess work out of the process as possible. By locking your rate at the appropriate time, you can gain peace of mind in knowing that it will not increase before your closing date. As you work with your lender, be sure to ask these five......
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