Oftentimes a subject of some debate is the reality of what is a renovation or “rehab” loan.  Simply put, a rehab loan is a specialty loan program that allows the borrower to purchase a run-down home and to finance an additional amount of m......

There has been a lot of talk in recent months about the number of people in this country who are now losing their homes to foreclosure. These home owners usually have some sort of "short term Fixed ARM" (these are adjustable rate mortgages where the starting interest rate is fixed for the first 2, 3, 5, o......

In the previous two posts, we've been discussing the first five sections of the universal loan application. Today we'll cover the last five sections.

The Fannie Mae Form 1003, the Universal Loan Application. This form, known more commonly around the mortgage industry as simply a "1003" (ten-o-3), is perhaps one of the intimidating forms a home buyer can face. While much of this form is pretty self explanatory, many people do not fully ......

What is a mortgage? It seems like a simple enough question, but oftentimes many people seem to be ignorant as to what they are actually agreeing to when accepting a mortgage. Webster’s Dictionary defines a mortgage as “a conveyance of or lien against property (as for securing a loan)......

Education is the key to getting the most out of your home mortgage experience. Knowing how the mortgage industry works and what is available for you is the difference between getting the right mortgage for you and getting stuck in a mortgage that you ca......