All Posts Tagged With: "charges"
Should I Pay More Points For A Lower Mortgage Rate?
The answer most often given no doubt looks at current mortgage rates and while interest is a big part of the answer, it’s not the only cost paid by borrowers. There is also an origination fee and, often, also one or more points. The origination fee is a charge to compensate the lender for his [...]
6Jun2011 | Peter G. Miller | 0 comments | Continued
How To Get A Successful Loan Modification (With Obama Update)
Is it possible to get a mortgage modification without being foreclosed or behind on your payments? For an increasing number of borrowers the answer is “yes” because recent changes in the mortgage industry now make loan modifications more likely than at any point since the financial meltdown began. For much of human history mortgage lenders [...]
22Jan2009 | Peter G. Miller | 8 comments | Continued
Real Estate Settlements: Public Cheated Out Of $10 Billion — Per Year!
It was in 2002 when HUD Secretary Mel Martinez told the world that consumers could save as much as $10 billion a year by making the settlement process more competitive. Martinez — now a Republican senator from Florida — offered a simple proposal: Instead of buyers and sellers purchasing settlement services one transaction at a [...]
19Sep2008 | Peter G. Miller | 1 comment | Continued
How Do Condo And Co-op Fees Differ?
A “co-op fee” typically includes an underlying mortgage and property taxes. Mortgage interest and property taxes are typically deductible, thus much of a co-op fee is usually deductible. The precise percentage you can deduct will vary according to your particular co-op. See the co-op treasurer and your tax professional for details. A “condo fee” typically [...]
29Aug2008 | Peter G. Miller | 0 comments | Continued
What happens if a foreclosed home sells for more than the mortgage balance?
If there is a surplus from the sale it will go back to the owner — but don’t forget that the lender will want not only the remaining loan balance but also the fees and costs associated with the foreclosure. Please see an attorney immediately to determine your rights and leverage if you face foreclosure. [...]
28Aug2008 | Peter G. Miller | 1 comment | Continued
Isn’t It Time For Portable Mortgages?
Each year about 40 percent of all home sales involve first-time buyers, which means that 60 percent of all transactions involve people who have bought and financed before. Surely buyers, sellers, and brokers must wonder why it is that with each home sale buyers must be repeatedly qualified and why debt from one home cannot [...]
7Aug2008 | Peter G. Miller | 0 comments | Continued
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