Mortgage News, Tips and Tools - Page 15

Pay off Your Mortgage Early?
  • Posted by Jeremy Bachmann
  • 09/06/2012
  • payoff
 Pay off Your Mortgage Early?

For the oldest among the Boomer generation and their parents, paying off the mortgage early was a dream achievement. That generation would host mortgage burning parties to celebrate paying off their loans early and owning their homes debt free. Boy have times changed. Younger Boomers’ financial lives have become more complex than the previous generations’. And, most people from the 1960s or later grew up being comfortable with debt. As a result, there are a lot of conflicting ideas on whether paying off your mortgage early should be a top priority or not. So, what’s the right move today – pay off your mortgage early or don’t worry about it?


Short Sales - The Long and the Short  Short Sales - The Long and the Short

Hey, it happens. You made a good plan, bought a good house and had a good job. But life has a way of disrupting our plans sometimes. You’re not alone though. Did you know that according to CoreLogic 11.1 million homeowners are also struggling to meet their monthly mortgage payments?


Ten Ways to Protect Your Credit Score for Mortgage Application  Ten Ways to Protect Your Credit Score for Mortgage Application

So you have good credit and you've applied for a mortgage – congratulations! Did you know that lenders are now required to check borrowers' credit twice during the loan application process - once during pre-approval and once just prior to closing? This second check can really trip up your mortgage application because changes to your credit score could mean your application might be denied!


Is a 15-Year Fixed Rate Mortgage Right for You?  Is a 15-Year Fixed Rate Mortgage Right for You?

With interest rates at historic lows, many homeowners or buyers may be tempted to choose a 15-year fixed rate mortgage over the more typical 30-year mortgage. The 15-year enables you to pay off your loan faster and likely lock in a lower interest rate, but will come with higher payments. To make a smart decision, you need to determine what’s most important to you: financial flexibility or paying off your mortgage faster.