Saving On Your Mortgage: Considering Your Refinance Options

Economic fluctuations have made regular home loan “health checks” a good idea for homeowners.  While property market trends change, there is a chance that your mortgage rate is no longer living up to your expectations. Your needs also change, which means new mortgage products often emerge to satisfy the ever growing mortgage demands. If you find out that your mortgage rate is no longer comparable to current rates, the first thing to do is to consider your options.  You can consult with a lender to find out whether refinancing  would be the best solution to your situation. Refinancing serves a number of purposes.  Some of the main reasons home owners choose to refinance are: More Affordable Mortgage Rates People refinance to take advantage of...

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Home Energy Savers At No Cost To You!

Home Energy Savers At No Cost To You! We have learned from our teachers that energy is neither created nor destroyed. But, this doesn’t mean that it is free! It’s never a bad time to learn how to conserve energy, which will in turn save you some money. There are many things you can do to lower your electric bill; here are few:  Turn off the stereo, television, lights and such when you leave the room or if they are not in use.  Turn off computer monitor or shut down your computer when not in use.  Just like your television, your computer monitor consumes energy. Also, most tv’s and monitor’s have an energy savings mode that can save you money as well.  Maximize the use of your dishwasher by fully loading them. You actually consume...

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203K Mortgages – A Real Story About Real People

With a growing family, Rob and Megan wanted to find a larger home in their current neighborhood. But four-bedroom homes under $200,000 were hard to come by in their area, this year, because fewer properties are for sale. When they saw a 2,100-square-foot home that needed cosmetic repairs this fall, it was an opportunity the family could not pass up. So they worked with their real estate agent and lender to secure a FHA 203k loan. The FHA 203K loan is a rehabilitation loan that enables a home buyer to finance the purchase of a house and the cost to rehabilitate it through a single mortgage. The loan can be used for minor repairs or a near reconstruction, as long as the foundation remains in place. Rob and Megan knew they were not handy people. Plus, they both work...

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Tips on House Hunting in Indiana

The real estate market can be confusing.  With some basic knowledge, it can be a little less intimidating.  Following are some tips on house hunting in Indiana that we hope you will find helpful in the home buying process. Before you begin house hunting, talk to a mortgage adviser about getting pre-qualified first. click here to see if you’re eligible for pre-qualification If you are not planning on staying long term, don’t buy a home that backs or faces a busy road.  Although you may not mind the noise in this location, you could potentially have a hard time reselling the house in the future. When you are trying to make a deal on real estate, do it moderately. Often, people who are too aggressive about trying to make the best possible deal...

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Aid Now Available For Unemployed Homeowners in Indiana!

The Indiana Foreclosure Prevention Network (IFPN), a statewide multi agency collaboration, committed to actively addressing Indiana’s foreclosure crisis through a variety of methods, is offering another tool for troubled homeowners throughout Indiana. The U.S. Department of the Treasury established the Housing Finance Agency Innovation Fund for the Hardest-Hit Markets (Hardest Hit Fund) to provide financial assistance to families in the states most impacted by the downturn of the housing market. Indiana was awarded over $221 Million to help unemployed homeowners pay a portion of their mortgage. Under the Hardest Hit Fund Unemployment Bridge Loan Program, Building the Bridge to Recovery, IFPN is targeting low-to moderate-income homeowners whose primary residence...

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