February 2010
You are browsing the archive for February 2010.
What Is A Reverse Mortgage Calculator?
If you are considering a reverse mortgage, at some point in time you will be using a reverse mortgage calculator. Before we get into the reverse mortgage calculator, an over view of a reverse mortgage is necessary.
Reverse mortgages have actually been around for a while, but have grown in popularity in recent years. This is [...]
Steps to Getting a Reverse Mortgage
Here are a few of the steps you’ll want to go through to get started with a reverse mortgage. Keep in mind that these types of loans are not necessarily for everybody, but they can be a great source of funding when seniors are in need of additional income.
1. Becoming Aware: Because reverse mortgages are [...]
The Many Misconceptions About Mortgages
There are many misconceptions about mortgages which I hope this article will put right. Often referred to as a mortgage home loan, they are not a loan in the traditional meaning of the word. There are three terms that you need to learn that are used: the first is mortgagor (the property owner), the mortgagee [...]
Mortgage Interest Rates Move Down
Mortgage interest rates moved down this week. 30 Year rates feel back below 6 dropping from 6.10 last week to 5.94. 15 Year rates all fell quite a bit going from 5.78 last week to 5.63 this week. Below are rates for the major mortgage products for the last few weeks.
October 9, [...]
Canada Interest Only Mortgage
An interest-only loan is a loan in which for a set term the borrower pays only the interest on the principal balance, with the principal balance unchanged. At the end of the interest-only term the borrower may enter an interest-only mortgage, pay the principal, or (with some lenders) convert the loan to a principal and [...]
Why To Opt For Second Mortgage
A second mortgage typically refers to a secured loan (or mortgage) that is subordinate to another loan against the same property. In real estate, a property can have multiple loans or liens against it. The loan which is registered with county or city registry first is called the first mortgage or first position trust deed. [...]