Blue room

The Importance Of Your Median Credit Score

Credit scores are becoming more and more important every day. Lenders love them because it allows for the lending decision process to be greatly speeded up. Applications can be quickly and automatically screened by credit scores which mean analysts do not have to spend time weighing up candidates that have no hope of approval. It also means that less skilled personnel are required which in turn leads to cost savings.

Other industries are now using the same model to streamline

Time To Sell: Finding The Perfect Sales Price

The right price for the things that you are selling is something that you have to figure out for yourself. It is not always easy to figure out what that right price really should be. There are plenty of people who do not have their products at the right price, and that means that they are not making enough money, or they are not getting enough customers. When one of those two situations comes up, the business cannot survive. The efforts put in

What Is The Outlook For The Housing Market

Selling a house in this market can be incredibly scary. You might notice that your home stays up for sale for months or even years before it actually sells. This can be scary for someone who is stuck with an expensive mortgage and is on the verge of losing their home to foreclosure. One thing you need to remember about the housing market is that it will always have its ups and downs. You cannot avoid selling your house just because the market fluctuates a lot. If you’re

What Is Negative Equity In My Home

Negative equity in your home is defined as the value of your home is far less than the original principal balance. You have negative equity in your home primarily when the housing market is hit hard and the prices of homes tumble. It also occurs when you overextend yourself on a mortgage that you cannot afford and the housing market is suffering a crisis. The years 2007-2102 were a perfect example of borrowers who accepted a loan they could not afford and subsequently the housing bubble bursts. From there, the house is now

When Should I Refinance My Current Mortgage

If you are a home owner, then it is likely that you are paying down a home mortgage on a monthly basis. Have you ever felt as though your monthly payments were a bit high? If so, then the good news is that you may actually be able to get these lowered by refinancing your current mortgage. This is a process that involves taking out a lower rate mortgage with another lender to replace your

How Do I lock In an Interest Rate

Whether you are refinancing your mortgage or buying a new home, waiting to see what the interest rate is at the time of closing can cause your stress level to rise to unbearable levels. You can reduce your stress and save thousands of dollars over the life of the loan by locking in your interest rate. This guarantees that the rate you lock in at will be the rate at which you close the loan. The

Breaking Down An Adjustable Rate Mortgage

An adjustable rate mortgage carries an adjustable interest rate after the first 1-3 years of the loan. The interest rate is linked to an index and adjusts after a certain amount of time based on the index. There are multiple ARM’s available on the mortgage market today, so it is up to you to choose which one best suits your budget.

The Index and Your Interest Rate
Your ARM is tied to various indexes. The most common indexes include the LIBOR (London Interbank Offered