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| My Mortgage Docs to be Reviewed by an Expert (Photo credit: Casey Serin) |
With mortgage interest rates dropping, we shouldn't be
surprised to see a huge surge in refinancing. Yes, it is what got this great nation of ours in trouble a few years ago, but there are much better restrictions and regulations in place to help avoid the same pothole we hit before.
As of today, 30 year mortgage
rates are sitting at just over 5%! Not bad, but don't jump in just yet. A lot of
families have been scammed by fraudulent lenders. I was browsing the web the
other day looking for information on loan scams, looking for information that
would help protect me as a home buyer. I came across quite a few obvious scams, so make sure you get some help before you make the big decision and don't fall into a predatory mortgage lending scam!
Here are a few big things you should know before you dive into any mortgage loan commitment:
1. What is qualified residence interest?
2. Definition of acquisition indebtedness.
3. Amount of home acquisition debt.
Here are a few big things you should know before you dive into any mortgage loan commitment:
1. What is qualified residence interest?
2. Definition of acquisition indebtedness.
3. Amount of home acquisition debt.
