Tag Archives: mortgage book

Fannie, Freddie In Trouble

NEW YORK – U.S. mortgage market giants may report further downgrades to their forecasts for credit losses in their upcoming second-quarter results, starting next week. (Reuters) In the market’s view, Fannie Mae and Freddie Mac may not have enough capital … Continue reading

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What Is A Mortgage?

Dale Mayer writes in The Home Mortgage Book: A mortgage is two documents that allow you to buy a house when you can’t pay the price up front. The first document is the promissory note. That is the negotiable instrument … Continue reading

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PMI Abuse

Dale Mayer writes in The Home Mortgage Book: PMI is also a hot issue that has been addressed through litigation because it was often abused by unscrupulous lenders. Today a lender must explain to you at closing how to cancel … Continue reading

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Private Mortgage Insurance

Dale Mayer writes in The Home Mortgage Book: PMI is insurance taken out on a loan to protect the lender from losing money in the transaction. It is common knowledge in the mortgage industry…that people who cannot afford to put … Continue reading

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Should You Hire An Attorney When You Buy A Home?

Dale Mayer writes in The Home Mortgage Book: The Real Estate Bar will tell you that brokers and lenders do not want attorneys coming in and destroying their well-crafted deals. That dealys their paydays by weeks and months. Your broker … Continue reading

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What You Need For A Good Purchase Agreement

Dale Mayer writes in The Home Mortgage Book: You need assurance of good title. Are you dealing with the real owner? Subject to financing: If you cannot get the financing that you are hoping for, you can get out off … Continue reading

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The Home Mortgage Book: Insider Information Your Banker & Broker Don’t Want You to Know by Dale Mayer

Dale writes: Lenders also appreciate prequalification because they no longer need to depend on real estate agents for referrals. Lenders can advertise that they offer prequalification letters… There is nothing more important in your financial life than your credit score. … Continue reading

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The Case For Renting

From Dale Mayer’s The Home Mortgage Book: * Renting allows you more geographic flexibility. A rental lease is shorter and more finite than a mortgage. * When you rent, you usually don’t have to worry about maintenance. * You don’t … Continue reading

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Mortgage Providers Face Collapse

From the Independent of London: America’s regulators were last night shoring up the country’s financial defences, after one of the biggest bank failures in US history sparked fears about the viability of the world’s largest mortgage providers. The Northern Rock-style … Continue reading

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Mortgages For Delinquent Borrowers

From the Wall Street Journal: The Chicago Tribune today takes an interesting look today at how HSBC is handling mortgage modifications for delinquent borrowers. Modifications and restructurings, or a permanent redo of the mortgage contract, now represent represent 22% of … Continue reading

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