Melody Aguilera's (melodymilak) Blog

Information posted on my blog comes from www.mortgageguide101.com 

There are a variety of mortgage insurance products on the market. Some of these products claim to help you to save for a home. Some of these products are geared to make your payments in the case of disability, ill health or death. In most cases, if your lender offers you mortgage insurance, it wi...

A mortgage quote is pretty much exactly what you would expect. It's a quote from a lender for your mortgage, which provides you with an interest rate and term for the mortgage. You can get a quote on any type of mortgage, from a fixed rate mortgage to an adjustable rate mortgage to a variable rat...

The right time to refinance is when it will save you money. It's as simple as that.However, it normally saves you money in the long run. In the short run, it's likely going to cost you money. Your costs could be penalties for refinancing, including points, fees, a new property appraisal (if requi...

Yahoo! The rates are dropping! But you've still got 3 years on your mortgage and you're paying a couple percentage points more than the going rate.What to do?Your best option is to approach your current lender and try to get an 'early renewal' on your mortgage. Some lenders will charge a penalty ...

With the cost of homes, it's often better to buy what you can afford and remodel later!Once you are ready to remodel, particularly if you've lived in the house for a few years or have some equity built up, you may find that your best option is to refinance. Most lenders are willing to discuss ref...

Your mortgage is up for renewal. Your lender has called you, and suggested they can handle your business, you've been a good customer. Why don't you just come in and sign some papers? So, you make an appointment, and you go in, without another thought. Is this the right approach? Nope.When your m...

For many people, refinancing their mortgage is another way of saying 'renewal'. Their bank or lender calls them up and says, "It's time to renew your mortgage." They have a short discussion on the phone, which results in the signing of new papers for another term, without too much thought. Howeve...

However, you have to be careful. The shorter the amortization, the higher the payment. So, while you save money over the long run because you pay less in interest charges for your loan, you have to be able to afford the payment in the short term. One option which reduces your risk and still lets ...

An important aspect of your home mortgage is the interest rate. This rate is negotiated for a period of time - from 6 months to as long as 10 years. This time period is the period over which you will pay the agreed interest rate. The lower your interest rate, the less you pay in interest costs ov...