We believe that most people should lock their rate as soon as possible. Although there are special situations when "floating" (being unlocked) makes sense, it is a risky bet-- generally with more downside than upside.

One can hardly listen to a news report today without hearing about a national epidemic of declining property values and adjustable rate mortgages (ARMs) re-setting at alarmingly higher rates.

One can hardly listen to a news report today without hearing about a national epidemic of declining property values and adjustable rate mortgages (ARMs) re-setting at alarmingly higher rates. Over 1.26 million Americans went into foreclosure last year, and the number has risen sharply. In the present housing climate, home owners need to be vigilant in protecting themselves against foreclosure on existing mortgages.

Under Federal law, Private Mortgage Insurance, or PMI, is automatically canceled when your loan balance is 78% of the home.s value. Technically, you don't have to do anything, but we suggest you follow-up with your lender and make sure the PMI has in fact been canceled.

Most mortgage lenders don't allow you to actually skip payments...

There are a few instances when early pay-off is a good investment: if you'll be in the house long-term, if higher interest debts have already been paid off, or if early pay-off will yield a higher return on investment.

You may have recourse, but it depends on whether you can prove anything. The hardest part about proving that you didn't receive an accurate Good Faith Estimate (GFE) is finding evidence that your lender intentionally withheld information.

Oftentimes, once a mortgage loan is closed, the servicing of the loan is sold to a different financial institution. Servicing agents provide account statements, receive the mortgage payments, impose late fees and often pay the property taxes and insurance out of the borrower's escrow fund.

Have you made the decision that a reverse mortgage loan is right for you? If so, then you will now need to find the right lender for this type of mortgage program. With so many to choose from, how do you find your best one? Here's a look at a few great tips to help you find the right reverse mortgage lender.

It can save you money if you are cautious when you choose a debt consolidation loan company. A debt consolidation loan company may say that it can offer the best terms and lowest interest rates but if you take a close look at the terms or interest rates for your situation, it could be a different story. Besides the money, you also need reliability and quality service from your lender.