Posts tagged as:

Refinancing

New Jersey Mortgage Applicants: What NOT To Do While Your Loan Application is Being Processed

April 25, 2010

To insure mortgage approval and closing, the most important step you can take as a New Jersey mortgage loan applicant is to NOT make any changes to your job or financial picture until your mortgage loan has closed and the keys to the home are in your possession.  I have written about this before, but it [...]

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Why New Jersey Borrowers Might NOT Get That Low Advertised Mortgage Rate

February 4, 2010

Okay.  So you’re thinking to yourself, “I called that lender because they advertised rates that were so low, but I didn’t get the rate.”  Why not? The answer is relatively simple though some lenders don’t take the time to thoroughly explain it.  Mortgage rates are low, but only if the borrower “qualifies” for that low [...]

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New Jersey Property Taxes: Why Must I Pay My Arm AND My Leg?

January 15, 2010

New Jersey property taxes are a big monster in local communities that is preying on homeowners.  Local governments and schools in New Jersey collected $23 billion in taxes last year from property owners.  New Jersey’s 2008 median real estate tax bill was $6,320 (as estimated by the 2008 American Community Survey).
Why are they so high?  What [...]

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How to Use Obama’s Stimulus Plan to Refinance an Upside Down Mortgage

September 24, 2009

Regardless how much talk and information there is about refinance options under the Obama program, confusion about what to do and what can be done still exists – on a large scale. President Obama’s goal is to help people stay in their homes. Those who understand how to use Obama’s Stimulus Plan to refinance an [...]

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Do You Want to Take Advantage of Low Rates, But Will Be Moving in 4 to 7 Years?

July 22, 2009

Most borrowers have always been accustomed to getting 30-year fixed mortgage loans. Even when not practical, many still want the 30-year fixed rate.
But for anyone moving/selling within 4 to 7 years, some thought should be given to a more short-term mortgage such as the 5/1 ARM or the 7/1 ARM.
What is the 5/1 ARM?

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5 Reasons Why New Jersey FHA Streamline is the Best Darn Mortgage Refinance Program

May 25, 2009

Let’s begin with the easy part.  What is the FHA Streamline Refinance?
It is a refinance program that allows a New Jersey borrower who currently has an FHA mortgage to quickly refinance with much fewer requirements than the usual refinance.   The new loan will also be FHA.
The program is NOT designed for cash back purposes.  It only [...]

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Why Does it Seem Everybody Gets a Different Interest Rate – AND Why Didn’t I Get That Dreamy Low “Advertised” Rate?

May 13, 2009

When this subject comes up, I have to mention the car sales business.  I know the two businesses seem very opposite, but they are oh so similar.
Have you ever seen the ads for new cars where you supposedly can get ZERO percent interest?  Yep, we all have.   Have you ever read the fine print?  How [...]

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Millions of Americans Could Save Thousands Each Year by Refinancing Their Mortgages

May 13, 2009

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I Just Didn’t Have the Time to Refinance My New Jersey Mortgage

May 8, 2009

This is a good topic for any mortgage blog because “Larry” was even more angry at himself because he never made the time to stop and refinance his mortgage loan. He said his rate was 6.75%. He was planning on getting to it, but kept putting it off and putting it off.

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Obama’s “Making Home Affordable”

April 8, 2009

On February 18, 2009, President Obama announced a $75 billion plan that would allow many homeowners to refinance their mortgages and allow others to save their home from foreclosure using a special Loan Modification program. It’s part of a massive plan to get the housing market back on track.

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