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A short course of lectures
«The mortgage answer book»





What are some foreclosure scams I should be aware of?What is a flexible payment adjustable rate mortgage?What is an index?What is a manufactured home?Subprime MortgagesHow can I improve my credit score?What is recasting and how will it affect my mortgage?What is a prepayment penalty?Do I have to have credit counseling before I can get a reverse mortgage?Why are junior mortgages riskier for lenders?How do I lock in the interest rate on my loan?How do I refinance?What is a margin?What is foreclosure?How do I benefit from this new knowledge?What is the Home Ownership and Equity Protection Act, and what is its purpose?Appendix B. Home Ownership and Equity Protection ActUnderwritingWhat is a start rate?How can I improve my income-to-debt ratio?RefinancingHome Equity LoansWho buys these loans?What are home equity loans?How does a reverse mortgage work?Appendix C. The Real Estate Settlement Procedures ActWhat is an adjustable rate mortgage?What is involved in getting a home equity loan?Can I prequalify myself for a loan using the Internet?Once I am prequalified or preapproved for a loan, is my prequalification or preapproval amount the price of the property that I should really be shopping for?Why is it necessary to write down a budget?What about a gift letter?What are the advantages of a home equity line of credit?How do I make a budget?What is a subprime mortgage?What are the disadvantages of a hybrid mortgage?What if I am paid on commission?What is private mortgage insurance (PMI)?What are the major FHA programs?Can I prequalify for a loan through a lender?Can VA loans only be used to buy a home?What are the disadvantages of an FHA loan?First-Time BuyersWhat is a home equity conversion mortgage?Terms of the MortgageWhat is the term of a mortgage, and how do I choose the right one for me?How does the foreclosure process work?How do I find out if I am eligible for a VA mortgage?What else should I consider before I refinance?What if I am not ready to get a mortgage right now?When should I consider bankruptcy?How do I compare fixed rate and adjustable rate loans?What is the difference between being prequalified for a loan and being preapproved for a loan?Why do we have inflation?Hard Money MortgagesWhat are biweekly payment plans?Can a seller finance the total purchase price?Reverse MortgagesCan I use a gift from a stranger to make my down payment?Why do so many people have bad credit histories?How do I choose between an annuity and a reverse mortgage?Fixed Rate LoansAppendix A. Amortization TablesPrepaymentRisk and ProfitWhy should I refinance?Can I avoid having to get a jumbo loan?What are the advantages and disadvantages of a fixed rate loan?Government LoansWill I know if my loan is sold?Are there different types of reverse mortgages?What is a piggyback loan?How do I find the right lender or mortgage broker?What is interest, and how are interest rates determined?Should I consolidate my debts?What is a hybrid mortgage?What else should I know about fixed rate loans?What are points and buydowns?What does it mean to prequalify for a loan?What is a subprime loan?Why should I not just ignore the problem if I cannot afford to make my monthly mortgage payments?What is a junior mortgage?Where can I get more information on financing a manufactured home?How can I avoid foreclosure?What is a purchase money mortgage?Reverse Mortgage Comparison WorksheetWhat is an assumable mortgage?What are the advantages of a hybrid mortgage?What should a seller know about purchase money mortgages?What are interest-extra loans?Purchase Money MortgagesWhat is a graduated payment mortgage?Can I sell the purchase money mortgage?What is a SingleFile mortgage?What about bonuses?How do I find my credit history?What are some temporary solutions for not being able to pay my mortgage?What distinguishes FHA-insured reverse mortgages from non-FHA-insured reverse mortgages?Can a real estate agent prequalify me for a loan?Facing ForeclosureCan I use a gift to pay for my down payment?What if I am self-employed?Jumbo LoansWhat is a bridge loan?When do I want a fixed interest rate loan?What are the disadvantages of a home equity line of credit?Is a longer- or shorter-term loan better for me?How can I best understand adjustable rate mortgages?What is nonjudicial foreclosure?Is poor credit the real problem with subprime mortgages?How does inflation affect mortgages?Were the 2007-08 housing problems caused by hybrids?Payment PlansWhat if I have more permanent problems that prevent me from making my monthly mortgage payments?The Effect of Inflation on MortgagesInterestWhat changes in the industry affect prepayment today?What is predatory lending, and how can I avoid falling victim to it?What is my credit history?What is the importance of knowing my spending habits?How much can I afford to pay for a home?What is a home keeper mortgage?What are balloon payment mortgages?Can a seller refuse to sell to people using FHA or VA loans?What are government loans?The Right Loan for YouAre there future problems that may arise?What is a jumbo loan?What kind of credit card user am I?Is it worth talking to a financial counselor if I am facing foreclosure?How much can I borrow with a reverse mortgage?What is a pick-a-payment loan?What payment plans are available, and how do I choose the right one?Mortgages on Manufactured HomesHow do I know which index is right for me?What are the property requirements for obtaining a reverse mortgage?The Mortgage IndustryWhy is the interest rate always a little higher for fixed rate loans?What is a VA loan?Should I consider an adjustable rate mortgage?What is an FHA loan?Do I really need to know more about prepayment?How does the property itself figure into the mortgage formula?What is a loan-to-value ratio?What is a home equity line of credit?What are the differences between A, B, and C loans?What are income-to-debt ratios?What can I do if I cannot afford my monthly mortgage payment?How do lenders use my credit score?Should I try to buy down my interest rate?Why would a primary lender sell a loan?What are the criteria for a home equity conversion mortgage?Prequalifying for a LoanHow does a home equity line of credit work?What are the financial requirements for qualifying for a reverse mortgage?What does the secondary market mean to me?Junior MortgagesWhich indexes are most often used?What are the advantages and disadvantages of judicial foreclosure?What makes a manufactured home eligible for financing?How do I use the mortgage comparison worksheet?What is an annuity?How much can be borrowed for a reverse mortgage?About the AuthorHow will a down payment affect a mortgage loan by the seller?What is a conforming loan?Hybrid MortgagesWhat is next?Are there scams a seller financing the purchase price should be aware of?What is underwriting and how does it affect my loan?What is a promissory note?What factors do I need to consider before deciding whether or not to get a hybrid mortgage?What is a reverse mortgage?What is the major advantage of an FHA loan?What is the mortgage industry?What is a hard money mortgage?How many mortgages can I have on one property?What is the other side of this exercise?How do interest rates work?How will an appraisal affect my down payment?What other information do I need before buying a house?Adjustable Rate MortgagesWhat is a deed of trust?What are back points?What is my credit score?Why would I get a home equity loan?What are the advantages and disadvantages of interest-only loans?
 
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