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Is it better to go with a home mortgage of 15 years or 30 years?
There are pros and cons for each loan term. We will analyze a 30 year fixed and a 15 year fixed. A simple rule of investing, the shorter the duration of the loan (term), the lower the interest rate. This applies if all other elements are equal (loan amount, same […]
How do you choose a credit repair agency — meaning, discern the truly helpful ones from the scam ones out there?
Have you considered attempting credit repair on your own? If you hire someone, the fees charged could be quite high, normally thousands. If you had a dispute playbook, would you try it on your own? Self Credit Repair: You may think it is daunting. But, it is not. You will […]
How to Buy a Home in Costa Mesa
You did an online search of homes in Costa Mesa. A few of the homes interest you. What should you do next? Should you visit the properties? What if you do not qualify for a loan on that property? You do not want to waste time, right? Get loan approval […]
How does your credit score impact you financially?
Yes, your credit score does impact you financially. According to the US government agency, Federal Trade Commission, there are many ways you could be impacted financially. If you would like to read all the FTC details, use this link, Free Credit Reports Who may ask to run your credit report. […]
If I pay a VA 25 Year Mortgage off in 8 Years, will I have to pay a penalty? If not, will I get money back for paying it off so early?
VA loans do not have a prepay penalty. Pay off as fast as you like. You will not get money back. But, you will avoid paying interest. Another benefit, you will be able to use your full VA entitlement to purchase another owner occupied property. Maybe you like your current […]
A nearby foreclosed house was bought 10 years ago with a 400k mortgage, and now the bank has foreclosed it and says its mortgage debt is 600K+. How can this be?
Is this possible? Yes. Let’s use your example, a 400K mortgage ten years ago. Let’s assume the homeowner stopped making mortgage payments 3 years into the process. So, the last 7 years, mortgage payments were not being made. Don’t forget, there are penalties for late payment or non payment. So, […]
Are Bi-Monthly Mortgage Payments Worth It?
If you pay your mortgage monthly, you’re making 12 payments a year. Normally, the payment is due the 1st of every month. When you enroll in a bi–monthly payment program, you’re paying half your monthly amount every two weeks. There are 52 weeks in a year, so this works out to […]