Brice questioned: With the average mortgage rates dropping, I am wondering if there is a minimum amount of time you have to pay on your mortgage before you can refinance? 1 year?

TAMMY O questioned: Our 2nd mortgage company is suing us for $25,000 (the balance on our 2nd after they signed off the lien for the small sale). They have submitted paperwork to attach 25% of our wages until it is paid off? Is their any legal way out of this?

Kara questioned: How do I get a late mortgage payment off of my credit report? I mean I’m really current on my mortgage now. I want this off of my report. Thanks

 Should I Refinance?When do you know that refinancing might be in your best interest? Since your home and your mortgage are your largest investments, it is very vital to stay on top of appreciation trends, market changes, and other vital issues, because unltimately your home can become the most startegic investment that you own. Let’s face it the home is the largest investment most American’s make. Should you refinance now?…

These days Loan modification is the new buzzword in the mortgage marketplace. Many real estate professionals seem to agree that loan modification could be the answer to the current mortgage crisis causing homeowners to lose their residences to bank foreclosures. Loan Modification allows a homeowner to stay in his/her home as well as keep their FICO score intact! In small, loan  modification helps homeowners avoid foreclosure on homes that cannot get…

A quitclaim deed is a document which states that the individual signing the document, has no interest in the piece of property. In other words, when you are signing a quitclaim deed you are expressing your disinterest in owning a property. For instance, if a quitclaim deed says that you don’t have any interest in the property and that needs to be transferred in the name of your spouse, the…

Small sale approval occurs when banks allow borrowers to sell their property for less than the balance due on the mortgage note. The primary goal of small sales is to minimize lenders’ financial losses and prevent the property from falling into foreclosure.Small sale approval is based on many factors and varies by lender. Unified criteria include: properties cannot be in foreclosure; borrowers owe more than the home is worth; and borrowers…

sherie questioned: My partner and I are first time home buyers. We have saved nearly 20% of the property and both have secure well paying jobs. Unfortunately we do not know much about mortgages and want to get the best deal possible. Should we see more than on broker? Should we get our own mortgage quotes as well? Do we have to pay trailing commissions?

About Jumbo Mortgage Refinance:Jumbo Mortgage Refinancing is one of the sound financial solutions to get rid of existing mortgages, loans and debts. An existing mortgage loan can be replaced by refinancing. A Jumbo Mortgage loan is that amount of sum that exceeds the standard sum set by Fannie Mae and Freddie Mac.Generally the Super Jumbo Refinance loans exceed the amount of $650,000. Since both Jumbo Mortgage loans and Super Jumbo…

When securing a loan which is in relation to the borrower’s property, this is usually called a loan mortgage. A mortgage is a document expressing the use of a borrower’s property as security or collateral for a loan. In the event that a loan shall be made, an application loan mortgage shall be taken when there is an acquisition for a new loan. The mortgage ensures that the borrower guarantees…