Mortgages

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Mortgage Loan Refinancing May Be Winding Down

  The interest rate for 30-year fixed-rate mortgages has steadily rose over the past few weeks, reaching %4 for the first time in a year. As the rates continue to climb, many people are scrambling to refinance their mortgage before rates climb even higher. Since the subprime mortgage crisis is nearly over and the housing market is rebounding, it’s easier for people to refinance because their homes are worth more. Many are refinancing away from adjustable-rate mortgages and into fix-rate mortgages. People worrying about inflation is the most common reason for the switch. When it comes time to refinancing your mortgage in the greater Boca Raton area, your first stop should be the mortgage loan professionals at Ace Mortgage Loan Corporation. Refinancing a mortgage isn’t rocket science, but having the…
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Watch Out For Mortgage Loan Scams

Those looking for a mortgage in Coral Springs, FL are interested in finding a responsible lender who isn’t trying to scam them out of their hard earned dollars. One of the biggest problems with the mortgage loan industry is that everything is pretty confusing for the average person. This opens the door for swindlers and all other manner of low-lives who actively scam people looking for mortgage loans. With foreclosure an all too common occurrence, it seems like these con artists are preying on those who are desperate to make their house payments. The Federal Trade Commission was established to help protect the American people from dishonest mortgage practices. Through the implementation of the Mortgage Assistance Relief Services (MARS) Rule in 2010, the FTC changed the way mortgage and foreclosure…
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Understanding the FHA in Coral Springs, FL

If you attended any sort of United States history class while in high school, then you’ve probably heard of the New Deal. A collection of executive orders enacted between 1933 and 1936, the New Deal was President Franklin Delano Roosevelt’s panacea for the Great Depression. The New Deal was known for creating many government programs and new agencies which are still in effect today. Social Security was one of the biggest programs along with the Federal Deposit Insurance Corporation (FDIC). One aspect of the New Deal which is often forgotten is that the National Housing Act of 1934 created a vital government agency still in effect today, the Federal Housing Administration. The purpose of the FHA was to insure loans given by banks and other lenders to homebuyers. It also…
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Prospective Homebuyers Guide to Purchasing in 2013

  Everybody needs a place to live, right? For those looking to make their first home purchase in Coral Springs, FL, there is a whole lot that needs to be considered before you even start looking for a home. Buying a home is without a doubt one of the most expensive investments a person can make. With homes costing considerably more than they did in the past, particularly in certain areas of the country, many people go to a mortgage lender like Ace Mortgage Loan Corp. right away for help with the whole process. For those looking to buy a house, here are a few tips to get you started in the right direction. The first thing to do is a complete analysis of your own personal finances. You’ll need…
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Reverse Mortgages Coral Springs, FL; What is a Reverse Mortgage?

The term reverse mortgage has been thrown around a lot lately and it has a ton of people confused. Upon first glance, the phrase reverse mortgage sounds kind of like instead of you paying a mortgage, a mortgage company pays you! This obviously isn’t the case, but hey we can dream right? A reverse mortgage is used by people over the age of 62 who, to put it as nicely as possible, have one foot in the grave. Basically a reverse mortgage is a just an equity loan for a home which is created in such a way that the usual interest is deferred. Traditional mortgages involve a homeowner making payments to a lender every month. Those with a reverse mortgage are not required to make monthly payments and there…
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Home Loans Coral Springs, FL: Shop Around for the Right Lender for You.

  It’s an exciting time for those looking to become first time home owners. Before you jump right into house hunting you should take the time to consider a few things first. The biggest component to home buying is financing your mortgage. The process is fairly standard no matter where you are. You will have to meet with brokers, bankers, and lenders throughout your home buying experience. All of these people, regardless of your location, operate under the same federal laws which govern mortgages. While professionals will be able to help as they are well versed in lending laws, doing your own work on the side is a very important step towards making good financial decisions. Companies such as Ace Mortgage Loan Corp., located in Coral Springs, can serve as…
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Home Financing Coral Springs, FL: Why Mortgage Brokers can assure your Financial Survival

When attempting to purchase a new home, there are several different factors involved. There are the buyer’s personal lives and other investments, there are the seller’s intentions and preferences, and of course, planning for the future is critical. So a couple will have different needs than a single homeowner, and a home owner with plans on leaving their home after only a few years will have different needs than a home owner with plans to stay for very long periods of time. Commonly, people switching from one status to another do know how to compensate for the change and may end up hurting themselves in the long run.     It is important to make some decisions. You should think about how long you desire to live in your new…

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