Blog

  • Wed, 08 Feb 2012 9:11:26

    Tips On Getting Your Underwater Home Sold

    There’s no doubt about it, since the burst of the housing bubble homeowners looking to sell their properties have faced a constant struggle. With prices at an all-time low, it is estimated that nearly one out of five American homes is underwater. Here are some tips to get above water and quickly sell your home at the best possible price 1.   Appraise the home The first thing you should do before putting your home on the market is to have its value determined by an appraiser. By having the home appraised, sellers can get a realistic idea of what price a bank would value the home at befo

  • Thu, 02 Feb 2012 7:30:50

    How Does A Mortgage Modification Work?

    It’s no surprise that a majority of Americans have gone through ups and downs when it comes to their financial situation. Some have lost jobs. Some have suffered depressed home values, an unplanned medical expense, even an unfortunate death of a spouse that could have left an unpaid mortgage. Fortunately in the United States struggling homeowners may qualify for one of the several mortgage modification programs available to help them pay off their mortgage and save their home. So if you can demonstrate the factors (detailed below) and continue to stay current on your loan, your lender cou

  • Wed, 18 Jan 2012 6:44:45

    Mortgage Myths

    In today’s housing market it can be very difficult to tell fact from fiction when it comes to understanding the market’s rules and regulations. For homeowners, misinformation can be the difference between qualifying for a home loan and being denied. Knowledge is foreclosure prevention. So let’s correct some common mortgage misconceptions.  Myth One: You have to be in default on your mortgage to meet the requirements for help • This is 100% NOT true. Purposefully falling behind on your mortgage payments can flop on you for two reasons. First off, if you fail to pay 60 days past d

  • Thu, 12 Jan 2012 4:47:51

    A Few Tips on How to Save on Closing Costs

          When purchasing big-ticket items such as houses and cars, it is natural to do research and shop around for the best deal. However, many Americans tend to forget to use that same mentality when it comes to purchasing a mortgage loan.   The attorneys at The Mortgage Law Group want to remind consumers that entering into a mortgage agreement is one of the most important, if not the most important, part of buying a home. Consumers who take the process too lightly and go with the first lender they talk to can end up over paying thousands of dollars in unnecessary and/or hidden c

  • Tue, 03 Jan 2012 6:17:32

    Short Sales And Their Benefits

    While delinquencies on mortgages are on the rise nationally, many homeowners have been watching their property values decline to the point that they are now “underwater,” that is, their home’s value is less than their mortgage debt. An option that is becoming more attractive to both homeowners and lenders for these underwater properties is a “short sale.” A “short sale” allows the underwater homeowner to sell their property for a price that is less than the amount needed to pay mortgage and other liens, encumbrances (e.g., property taxes, tax liens, etc.) and closing costs (in