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A short course of lectures
«The mortgage answer book»





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