All Posts Tagged With: "penalty"
Mortgage Modification or Refinance — What’s The Difference?
Is it better to modify a mortgage or to refinance? While both result in new loan terms, the two choices are very different.
When you refinance a mortgage you replace an existing loan with a new one. There’s no need to negotiate with the old lender because his mortgage claim will be extinguished. However, borrowers with [...]
How To Read The New Good Faith Estimate Forms
Starting January 1, 2010 HUD will require lenders to use a new Good Faith Estimate form or GFE. This is important because whether you buy a mansion or a cottage, you want to know how much your mortgage is going to cost — not just the interest rate but all the fees and charges you’ll [...]
2Nov2009 | Peter G. Miller | 1 comment | Continued
The Case For Flexible Real Estate Commissions
Isn’t it time to change real estate agreements — to make them better for buyers, sellers and brokers? Syndicated columnist Peter G. Miller explains.
17Feb2009 | Peter G. Miller | 0 comments | Continued
Can We Get Back Our Deposit?
Question: We purchased a parcel of land on Friday. Two days later we decided to cancel the transaction. (buyers’ remorse). Can we get our deposit back?
Answer: Maybe. You need to ask several questions. For instance:
First, what does the agreement say? Does it have a rescission or cancellation period during which time you can change [...]
Are Late Mortgage Payments Ever Okay?
Question: We have paid our mortgage several days after the due date but before the lender charges a late fee. Does this lower our credit score?
Answer: You need to look at this very carefully. A mortgage is a contract. It has certain terms and conditions. You want to honor all conditions.
In the usual case [...]
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