Brian Lawrence's (ervaztec) Blog

FHA just came out with a program to help borrowers who have recently experienced a rate reset that caused their mortgage to become delinquent. It's a 30 year fixed rate around 6% with no prepayment penalties and is available for loan amounts up to $362,000.00. To qualify you must meet all the fol...

  If what you always thought to be true turned out not to be true, when would you want to know? Most of what we believe about mortgages and home equity is outdated. We have been taught to make a big down payment, get a fixed rate mortgage and make extra principal payments in order to pay off our...

If your down payment on a home is less than 20 percent of the appraised value or sale price, you must obtain private mortgage insurance (PMI) with your lender.  PMI protects your mortgage lender against any default on the home loan. Because of this protection you are able to purchase a home with...