WBUR, You Disappoint Me

Here we are in the middle of a pandemic and in the hot a humid part of the summer. What does WBUR do? It publishes a “scare the buyers into giving up their rights” article. It is seller propaganda. It is not helpful to buyers. The advice “for buyers” mostly serves the seller’s needs. What’s

Are you Making a Mistake by Refinancing?

Given the historic lows for interest rates, it’s a good time for homeowners to review their mortgage information.  It’s easy to get excited by low rates, but everyone should evaluate a new loan based on their current financial situation as well as their long-term goals. Do the math to make a better decision on refinancing

By |2020-10-14T10:50:03-04:00October 21st, 2020|Categories: Money and finance, Mortgage matters|Tags: , , , , , |

Portfolio Lenders and Recasting Mortgages

Portfolio vs. conventional lenders A Portfolio Bank is a bank that lends their own funds into mortgages. They keep the mortgages in the bank and service the loans, which is a real advantage to homeowners. Portfolio lenders tend to be local banks and credit unions. A portfolio lender is able to make their own rules

Higher interest rates

Do you know what it will cost you to borrow at a higher interest rate? If your rate changed from 3.5 percent to 3.75 percent, the cost would be an additional $14 per month, per $100,000 of principal. This increases slowly to $15 per month, per $100,000 when the interest rate changes from 4.5 to

Mortgages. The paper trail you will follow.

If you have a new year’s resolution to buy a house in 2015, here are some things you can do to smooth the path to getting a mortgage. The paperwork does not have to be overwhelming, if you are prepared. Avoid – unless absolutely necessary • Don’t transfer funds between accounts within 30 days of

Applying for a mortgage? What matters?

There are things about you and your finances that are going to be studied, legitimately, before a lender will give you a mortgage. That makes sense; they are lending you a large sum of money. But, there are some things that are none of their business, literally! Who you are – in terms of race,

By |2016-12-28T14:01:09-05:00October 1st, 2014|Categories: Mortgage matters|Tags: , , , , , |

Can I be on the Deed, but not on the mortgage?

Sometimes a couple will qualify for a mortgage with one partner’s income, but won’t qualify with their combined income and debt. Think new lawyer with $200,000 in student loans. Think recently divorced and remarried person still carrying the bad credit from his/her ex. You would think that lenders wouldn’t allow only one person to be

By |2016-12-28T14:01:11-05:00September 3rd, 2014|Categories: House Hunting, Legal questions, Money and finance, Mortgage matters|Tags: , |