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Will Rate Hikes Tank the Market?

Posted On: 12/02/2015
Question: The Federal Reserve is expected to hike interest rates in December. If that happens will it sink the real estate market? Answer: Several times during the past year many predicted that the Federal Reserve would raise rates and nothing happened. As this is written before the...

Are Piggies Still in The Market?

Posted On: 11/25/2015
Question: There used to be piggyback loans. Is such financing still available and, if so, is it safe for borrowers? Answer: In basic terms, a piggyback loan is a form of financing – really two loans – that are used to avoid private mortgage insurance. The way it...

Mortgages: Easier to come by today?

Posted On: 11/18/2015
QUESTION: Is it easier to get a mortgage today? I hear all kinds of scary stories and would simply like a straight answer. ANSWER: You’ve come to the right place. Let’s look at some numbers. Interest rates for much of the year have been around 4 percent. That compares...

Should We Take On A New Mortgage?

Posted On: 11/11/2015
QUESTION: We have a home that is mortgage-free but are thinking of a new loan. Mortgage rates today are low, and there is little room for them to go anywhere but up, so if we borrow now we will have cash when rates are higher and thus an ability to buy more real estate when rates rise....

Should I Go Big With My Down Payment?

Posted On: 11/04/2015
Question: I’m considering an ARM and have the ability to borrow with either 10 percent or 20 percent down. I am fully aware of the danger that my ARM loan rate may go far above the original interest level, but what I’m really concerned about is that with the smaller down payment...

Is Assuming A Loan A Good Idea?

Posted On: 10/28/2015
Question: We’re looking at a home where the owner has told us if we buy we can assume the mortgage. Is this a good strategy in today’s market? Answer: There was a time when mortgages were “freely” assumable, an expression that means that a new borrower can come...

Must They See Our Tax Return?

Posted On: 10/21/2015
QUESTION: We have an opportunity to get a mortgage with 20 percent down, however for reasons of privacy we would like to get a loan without providing our tax returns. Is this allowed? ANSWER: Most residential mortgages must now conform to what is called the...

Will A Short Term Reduce Costs?

Posted On: 10/14/2015
Question: With mortgage rates around 4 percent we are thinking of refinancing with a 15-year mortgage. Is this a good way to cut interest costs? Answer: Let’s divide your question into two parts: First, Do you really need to refinance? Second, would you be better off with a 15-year...

Is Reverse Right for Us?

Posted On: 10/07/2015
Question: We’re thinking of getting a reverse mortgage so we can end monthly loan payments. Our home is worth $220,000 and we have $45,000 remaining on our current mortgage. Does a reverse mortgage make sense for us? Answer: Reverse mortgages are designed for individuals aged 62 and...

More Mortgages Or Less?

Posted On: 09/30/2015
Question: Several years ago we lost our home to foreclosure. We were told that it would be at least seven years before we could apply for a mortgage. Is that information still correct? Answer: Since the end of the Great Depression there were very few foreclosures in the U.S., one reason...
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