Mortgages

More in Mortgages

Are Surviving Children Responsible for Mortgages?

In most cases, children are not obligated to pay a deceased parent's debt. However, if the child wishes to keep a home with a mortgage, the child may be responsible for making the payment. Even if the child isn't directly responsible, the estate is often required to satisfy ...

Pre-Approved vs. Pre-Qualified

If you are shopping for a mortgage, you have probably seen "pre-approval" and "pre-qualification" application opportunities, but the two terms don't mean the same thing. A pre-qualification gives you an idea of what size of loan you might qualify for based on data you supply ...

How Treasury Yields Affect Mortgage Interest Rates

Treasury yields are related directly to mortgage interest rates, which affect home buying and refinancing decisions. Yield is the ratio of annual interest payments to current market price, expressed as a percentage. Treasury yields are a function of monetary policy and general ...

Underwriter Requirements for a Home Refinance

The bursting real estate bubble that started in 2008, followed by the large number of mortgage loan defaults, made lenders rethink the way they made mortgage loans. Underwriting guidelines became more stringent because of these defaults and the subsequent losses. Even though ...

What Happens to My Homestead Exemption If I'm Not on a Loan?

Your homestead exemption generally protects a portion of your interest in your home from some creditors. In some states, filing a homestead exemption may also slightly reduce your property taxes. Those two benefits accrue to you whether you owe a lot on your house, a little or ...

When Is a Broker Mortgage Loan Origination Agreement Required?

When buying a home, most people do not pay in cash. Instead, they finance the bulk of the property purchase with a mortgage. They may choose to go directly to a bank or mortgage lender for a mortgage or use a mortgage broker to shop interest rates and loan products. To prevent ...

House Remortgage Vs. Home Equity

As a homeowner, you make mortgage payments to pay off a debt you took on to purchase your home. From a strictly financial standpoint, you’re placing money into an asset -- your home -- that you can leverage in the future. If you need money for a large purchase or to help pay ...

How to Transfer Mortgage Ownership

Transferring mortgage ownership is the same as the process for assuming a loan. The transaction doesn’t change the terms or length of the loan but removes the original owner from any legal and financial responsibility for the debt and adds a third party who becomes legally ...

How Much Do I Qualify for With a Mortgage Loan?

You can use a mortgage to purchase a new home, an investment property or to take equity from your existing home. Loan products vary greatly between lenders. Your ability to obtain a mortgage depends on a variety of factors that include your income, credit history and your cash ...

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