Can Your Bank Sell Your Mortgage & Change Its Terms?
Wednesday, 12 June 2013
Question: “I just got a notice that my home loan has been sold to some bank I’ve never heard of. Can they do this? And can they change any terms of my loan?” Answer: Yes, and no. Yes, banks have the legal right to sell your mortgage. And no, they cannot change any terms of
- Published in Q&A - Home Financing Questions
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The One Loan Document You MUST Read
Wednesday, 29 May 2013
Question: “Hi Gary. The last time I got a loan, I didn’t read the papers because there was just too much to read. Are there certain documents in the big stack of papers you recommend I be sure to read?” Answer: You should read every single loan document you sign. But who really reads a
- Published in Q&A - Home Financing Questions
Where to Look for a Lender for Your San Diego Home
Wednesday, 08 May 2013
Question: “Where do you suggest I start looking for a lender to get approved for a home loan?” Answer: I would avoid some of the common sources, such as going online or looking at newspaper ads. The best source is to ask a good, reputable, experienced agent. He or she will know a handful of
- Published in Q&A - Home Financing Questions, Real Estate Tips
Is It Easy to Get a Loan for a San Diego Home?
Wednesday, 13 February 2013
Question: “I’ve heard conflicting stories about how easy or hard it is to get a home loan. What’s your take on it?” Answer: There are two competing forces impacting people’s ability to get a home loan. On the plus side, today’s ridiculously low mortgage rates and resulting low payments make it much easier to qualify
- Published in Q&A - Home Financing Questions
What Interest Rate Can You Get for a Home Loan?
Wednesday, 06 February 2013
Question: “What interest rate can I get for a home loan?” Answer: Years ago, that was a simple question with a simple answer. But today, you have to answer these questions first: Owner occupied or investment property? For single family, 2 units/duplex, or 3-4 units? Fixed or adjustable? If fixed, fixed for 3, 5, 7,
- Published in Q&A - Home Financing Questions
Paying Off the Loan if the Owner Dies
Wednesday, 05 December 2012
Question: “My father passed away and left his house to me and my sister. She wants to move in and keep the house. But isn’t there some rule where you have to pay off the loan when the owner dies or moves out?” Answer: If available, you should read the loan documents and/or call the
- Published in Q&A - Home Financing Questions
Why You Pay More Interest Than Principal on Your Mortgage
Wednesday, 17 October 2012
Question: “Hi Gary, Thank you for your email. Question: Why do we pay more towards our interest than principal in our monthly mortgage payments for the first several years? Shouldn’t your payments spread evenly between interest and principal so that you can pay down your principal quicker?” Answer: Thanks for the question. A banker may
- Published in Q&A - Home Financing Questions
Is It Hard to Get a Loan for a San Diego Home?
Wednesday, 26 September 2012
Question: “I’ve heard that banks aren’t lending. Is it still hard to get a home loan?” Answer: Short question, long answer… Banks lost billions of dollars in the foreclosure crisis. They’re under the microscope by the press, political groups, and politicians for any possible misdeed or mistake, big or small, accidental or intentional. And regulations
- Published in Q&A - Home Financing Questions