Mortgage Debt Advice Archives

How To Get A Home Loan With Bad Credit – Follow These Easy Steps

How To Get A Home Loan With Bad Credit Bad credit. A phrase that feels like a four-lettered curse word when used to personally describe our financial status. A late bill here and there. An accidentally missed payment one month that goes unnoticed. A few life situations that lead to overextending ourselves. A job situation that doesn’t quite go as planned. So, one has to wonder what strategies exist on how to get a home loan with bad credit when I have all of these negative hits to my history. These situations are becoming more and more common as our Read More…

Pay A Mortgage Off Early – The Tax Benefit Myth Dismissed

Pay A Mortgage Off Early Millions of homeowners in America are lead to believe that having a mortgage is a good thing. Mortgage brokers, bankers, and real estate professionals push the tax deduct-ability narrative. The story-line suggests that using mortgage interest payments as a deduction is smart. This costs homeowner’s tens of thousands of dollars in unnecessary interest payments. Either the adviser doesn’t know or they intentionally hype the benefit. In fact, these specialists have a vested interest in keeping you bound to a mortgage as long as possible. And they will do whatever they can to convince you not Read More…

How to Live Mortgage Free – Prevent These Bigger Mortgage Mistakes

How to Live Mortgage Free – Prevent These Bigger Mortgage Mistakes Don’t Mistake Interest Rate with APR Many Home buyers shop for mortgage financing not knowing the interest rate they will be pay. The offered rate is usually less than the annual percentage rate (APR), due to fees added to the loan. Most Mortgage lenders charge fees as administrative costs when closing your loan. To learn how to live mortgage free you must be aware that rate and APR are different things. For most borrowers, the rate they end up paying is much higher than the rate quoted. Understanding this is important, as it will affect what you pay over the long-term. Although there are many principled loan officers, there Read More…

Mortgage Debt Free Life – Avoid These Big Mortgage Mistakes

Mortgage Debt Free Life – Avoid These Big Mortgage Mistakes Relying on Rate as the Only Factor Once an individual obtains financing their focus over the life of the loan moves to rate reduction, first when starting out, when rates are high and dropping. Many mortgage borrowers believe they have managed their mortgage financing extremely well. They believe they have realized a large amount of interest savings over many rate reductions. However, few are aware they have only extended the term of their mortgage. In addition, paid more in interest and fees, but are no closer to a mortgage debt free life. Unfortunately, many refinancers have lost several hundreds of thousands of dollars in interest without even realizing it. In Read More…