Home & Garden

Shorter term mortgages, such as 15 years instead of a 30-year mortgage, usually offer lower interest rates so ultimately you will pay less for your house. The downside is that your monthly payments are higher, you just make fewer of them. This is not the same as an ARM which … [Read more...] about Shorter mortgages can cost you 30% less on your home

You already know to compare prices before you buy electronics or airfare. Given the much higher cost of buying a home, you can imagine how much higher the savings can be from shopping around. Rates are at historically low levels, making it a great time to consider refinancing. … [Read more...] about Shop around for your mortgage, it could save you thousands of dollars

You will often hear about buying "foreclosed" properties but often the best bargains can be post-foreclosure REOs. Search inventory from lenders in your area here or try the Fannie Mae and Freddie Mac sites.A LOZO expert posted this tip. … [Read more...] about Check out local REOs (Real Estate-Owned) for potential home bargains

The U.S. Department of Housing and Urban Development offers free Foreclosure prevention counseling and homeless counseling services. They also link to approved agencies that will provide other counseling services for a fee, or at no charge "to persons who demonstrate they cannot … [Read more...] about Get free counseling from the U.S. Department of Housing and Urban Development if you qualify

If you can afford a larger down payment than the 5-20% that most lenders will require, ask your lender to calculate what your monthly and total payments will be if you put more down up front. Consider what else you could do with that money, such as payoff higher credit card … [Read more...] about Consider paying more now, less later