Know The Loans

STAYING ON TOP OF YOUR PAYMENTS - TIPS FROM THE PROS We all have our own monthly obligations and expenses we must consider each month. Many of our expenses are mandatory while others are by choice. We need to pay our mortgage each month. The electricity bill. Mobile phone. Insurance. Car payment. These are just a few of the monthly bills we have to pay but when we add in additional discretionary spending, especially just after the holidays when we might have spent more than we had planned, making monthly payment on time can be a bit confusing even overbearing at times. At other times of the year, expenses are more easily handled and bills paid on time when discretionary spending is lower. Yet keeping track of all these bills and making sure there are no payments made after the due dates can be a challenge sometimes. Here are a few tips to keep you on track. Set Up Auto-Pay This is the most convenient way to make sure your payments are made on the due dates. Remember, even though credit...

WHY CHOOSE AN FHA MORTGAGE LOAN? As consumers who really don�t get a mortgage but just a few times in their entire lives, the differences between mortgage programs really may not seem that big of a deal. But there is a reason why there are different mortgage types and historically they provide financing solutions based upon an individual�s personal situation. That�s where an FHA mortgage loan comes into play. The FHA mortgage was first introduced in 1934 as Congress tried to bring some sense of normalcy when financing a home. Back then, banks could require a down payment as high as 30, 40 or even 50 percent and offer short term financing for just a few years which means the borrowers would have to either pay off the entire loan when it came due or refinance all over again. The Federal Housing Administration changed all that with universal guidelines that lenders could follow, not matter where the property was located. FHA is not a mortgage lender but instead is more of an insurance com...