Happy New Year, welcome to 2013. Many people may have a New Year’s resolution to become a homeowner in 2013. Well, Property Guiding would love to help you make this a realty. I want to start again with the basic information to get things going: Read the rest of this entry
Continued from last week.
Downfalls of mortgage escrow accounts
There are several downfalls to escrow accounts. Basically, you are paying someone to do something you could do yourself (make payments on a schedule). Other downfalls occur when escrow accounts don’t work properly, when there is an overage or shortage, and due to missed opportunity cost. Read the rest of this entry
As we come to the end of another year, you are probably like me. You start reviewing your statements for tax purposes. Ever year I examine my mortgage statement and review my escrow account. Doing this made me think about “Escrow Accounts” the pro’s and con’s of them. I found a great article I wanted to share in two parts. This week we’ll focus on the Pro’s of Escrow and next week we’ll focus on the con’s. Read the rest of this entry
An interest rate is the price of money, and a mortgage interest rate is the price of money loaned against the security of a specific property. The interest rate is used to calculate the interest payment the borrower owes the lender. Read the rest of this entry
Many times in the process of the loan application we forget to answer the most basic questions, and many times the simple answer’s help to understand the process a little better. For example: Mortgage payment? How is the payment separated out, when is it due, and how do they decide who has to have mortgage insurance and who doesn’t. Below are just a few interesting facts about the “mortgage payment”. Read the rest of this entry