Understanding An Amortization Schedule
March 28, 2010 by Mark Madsen · Leave a Comment
By committing to a mortgage loan, the borrower is entering into a financial agreement with a lender to pay back the mortgage money, with interest, over a set period of time. The borrower’s monthly mortgage payment may change over time depending on the type of loan program, however, we’re going to address the typical 30 […]
Do I Have To Continue Making My Mortgage Payment If My Lender Goes Bankrupt?
March 28, 2010 by Mark Madsen · Leave a Comment
When mortgage banks go out of business and are essentially taken over by the FDIC, homeowners are left wondering if they still need to make a monthly payment. Great thought, and a very common questions for many borrowers in 2009 and 2010. The short answer is YES, you still have to continue making mortgage payments […]
Who Owns My Home If I Have A Mortgage?
March 22, 2010 by Mark Madsen · Leave a Comment
Many borrowers believe that when they purchases a property by obtaining mortgage financing, they also own their home. Technically speaking, full ownership on a property is only happens once the mortgage loan amount has been paid in full. To break this down in more detail, there are a few components of a mortgage: A Promissory […]
