Ever wonder what the tricks and scams are in the mortgage finance industry? Federal Mortgage Services lays it all out for you in the below article. Don't get caught up in a mortgage scam by being unprepared.

The current real estate market has created an environment where mortgage fraud has proliferated accelerated by technology and an industry that has been overburdened by confusing and contradictory regulations. Add to this the number of new home buyers that are willing to enter into a home loan agreement with little to no knowledge of how the process works or the faintest idea of what's legal and what's not.

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Federal Mortgage Services provides you the tools you need to get financing for your home. One of those tools is a mortgage calculator, which can help you calculate your monthly payments and interest rates. The below article goes into further detail.

Buying a home is a fairly complicated matter for the shear magnitude of the costs involved. With figures in the hundreds of thousands of dollars, it's easy to become overwhelmed by the math that goes into determining the costs that go into applying for a home loan. An apprehension recognized by many lending professionals, an easy method for streamlining the math into a user-friendly process has been developed into an online application – the Mortgage Calculator.

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There are more costs involved in getting a home loan besides the straight-up cost of your monthly payments. The below article discusses the various fees and rates that come along with your loan.

You should only buy a home when you can afford it – which is a painfully obvious statement. But, when can you afford a home? Does that mean you should only buy home when you can afford to pay the entire cost with one big sack of money? That's hardly realistic when hundreds of thousands of dollars are involved which is why there's an entire industry devoted to lending money to people who don't, generally, walk around with gigantic sacks of money. A home loan is how most folks deal with the expense of purchasing a new home giving them an opportunity to become a homeowner through a program of manageable payments over a specified numbers of years. So, with the possibility of a home loan, affordability takes on a new standard based on what you can afford on a monthly basis. But, there are a few more things involved here that can really screw you up.

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Are you and your finances ready to take on the responsibility of a home loan? The below article discusses how big a responsibility a home loan is, and whether you have the finances and credit to back it up?

The home mortgage market is an industry that has been in existence for about 2,000 years and was born of the medieval practice of a landowner selling a parcel of unused land to a prospective landowner who might not have been able to pay the entire cost up front. The lending landowner would enter into such an agreement based on his knowledge of the borrower as a person, his ability to pay, and his ability to make the unused land productive. In short, the mortgage was agreed to based up the borrower's ability to prosper and, thus, minimize risk to the lender. The basic elements of a modern mortgage remains the same as its ancient ancestor. There is a principal sum of money borrowed, a term agreed to by both parties as to when it must be paid back, and a rate of interest charged on the principal over the term of the loan.


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What risks are you taking when you sign on the dotted line of your new home loan contract? The below article lays it all on the table for you to read.

The mortgage loan has been around for almost 2,000 years, rather amazing when you think about how little the process has changed over the centuries. The debtor borrows a sum of money, known as the principal, to purchase land and pays the creditor back over an agreed upon time, known as the term, with interest to remunerate the creditor for the use of the money and the land. In ancient times, this was a brilliant way to make unused lands productive – and profitable – by placing them in the hands of people who couldn't afford the entire cost up front, but were likely to prosper as a result of the agreement.

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Are you experiencing a financial hardship? Are you having trouble making your monthly loan payments? The below article talks about what you should do in such a situation.

Entering into a mortgage is a commitment that will typically last 10 - 15 years. In a strange way, this offers a certain sense of stability since you know ahead of time that you'll be paying a specific amount of dollars per month over a specified term. But, no one can plan for the unforeseen. What happens if you lose your job somewhere along the way or suffer a major financial disaster? This can severely impact your ability to meet the obligations of your mortgage.


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If you can afford it, making a big down payment on a house can help you in the long term. Your payments and interest rates won't be as high. The below article goes into further detail about how a big down payment can help your loan.

You're earning a good living and the time seems right for you to buy a house and assume the responsibility for a home loan. But, are you really ready to dive into home ownership? This will likely be your biggest investment in entire life and one that will impact your finances for many years. This means you have to able to count on your current income for at least a decade and that you have a sizable amount of savings accumulated to make a down payment and meet the other costs that come with buying a house.

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Having a hard time making your payments on time? You can defer your payments, but it may cost you. The below article explains how deferring your payment may not be the best move.

In a down economy, it's possible that you'll find yourself struggling to make monthly mortgage payments. Your lender might suggest to you that skipping a couple of payments would help get you back on financial track. It may sound odd that your lender is encouraging delinquency, but what it's actually doing is allowing to defer a payment or two without negatively impacting your credit. The thing to remember is that those payments don't miraculously disappear. They get rolled into your home loan and you'll wind paying interest on that money over the term of the loan.

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Want to learn a little about the history of home loans? The below article is a quick guide to learning about the market.

A home is the biggest single investment in most people's lives involving hundreds of thousands of dollars in the purchase. Enter the mortgage loan agreement (which is a rather formal way of referring to it). The mortgage loan or, just plain mortgage, was invented around 1190 A.D. as a means for more people to own land without having to pay the entire amount up front. This created the debtor/creditor relationship which still exists today in such large purchases.


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Need help figuring out the steps to getting financing for your new home? The below article outlines the process of getting your new home loan.

In spite of the fact that we're moving towards a paperless world given the ease with which we can purchase computers, get Internet access and maintain business records on our hard drives, we still need to wade through a river of paper documents to obtain a home loan. Though it seems a daunting task, applying for a mortgage is a fairly straight-forward process for the first-time home buyer. The process is heavily regulated by the states and the federal government to protect the potential homeowner, but only if you know your rights in the mortgage application process.

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Understanding a mortgage isn't as hard as you might think. The below article talks about the details involved in getting a mortgage, so you can understand the intricacies of your mortgage contract.

Possibly the biggest investment in your life will be the purchase of a home. Since most incomes preclude making such an investment in one easy payment, most prospective homeowners will take out a loan from their bank, or other lending institution. This is what's known to almost every adult in America as a mortgage. Though mortgages have been available almost as long as there has been a real estate market, the home loan system we're all familiar didn't come into being until the great depression. This system greatly reduced the amount of cash needed for a down payment and put home ownership within reach to many people who would never have considered buying a home. But, that home loan adds some new factors you need to consider before you make that BIG decision.

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It's always important to fully read over your home loan contract and obligations. The below article explains how not doing so can cost you buckets of money in the long run.

Maybe you haven't had the best record in meeting all of your financial obligations with a few late payments here, a missed payment there. But, you managed to keep the lights on, kids fed, and put away enough savings to consider buying a home. As a result, you might not have the best credit score. And, it's that bit of red ink you dropped in the financial waters that has some sharks circling to make you a mortgage deal that you'll believe you can't pass up. Don’t get baited into making a bad home loan that can cost you!

Refinancing a home is never an easy decision or process. The below article highlights things you should know about the refinancing process.

With a down economy, homeowners are looking for the best way to reign in expenses. Many have looked into refinancing their home loans to reduce the terms and rates they are currently paying. While interest rates have fallen in recent months, the mortgage refinancing process has become more complicated due to the increased number of people who have defaulted on their home loans. You, however, may still see this as being a very economical thing to do as long as you don't lose your grip on reality in the process.

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