http://www.borrowisely.com The Mortgage HelpBook Sat, 26 Sep 2009 23:32:40 +0000 http://backend.userland.com/rss092 en Homeowners Insurance is not only an essential support for you as a homeowner, it is also an unavoidable part of a mortgaging process. You are required to have homeowners insurance on the property you are mortgaging, no mortgage will close without it. The lenders' concern is obvious - your property ... http://www.borrowisely.com/homeowners-insurance/ I have always been wondering why we have two different disclosures (TIL and GFE) to serve one and the same purpose... Why can't it be just one form with all a borrower has to know? The funniest thing, though, is the fact that both The Department of Housing and Urban ... http://www.borrowisely.com/truth-in-lending-disclosure/ The recently introduced new Good Faith Estimate (GFE) form triggered certain changes in the settlement documentation chain. Its long-time associate the Housing & Urban Development Settlement Statement (HUD-1) form has undergone a makeover, too. The guidelines for the usage of both documents went into effect on January 16, 2009, but ... http://www.borrowisely.com/settlement-statement-hud-1/ What good is the Good Faith Estimate you received from your potential lender? Let's see... At first sight, the information provided seems gold - origination fees, appraisal fees, credit report... you name it! And then you get several Estimates from different lenders, and compare, and think that you have made a ... http://www.borrowisely.com/the-good-faith-estimate/ As many other borrowers, you probably got deceived by the APR’s apparent similarity to the interest rate and assumed that “locking the rate” means locking all the rates involved. Unfortunately for borrowers, that is not the case. The APR does not only include the interest rate and the points, which ... http://www.borrowisely.com/apr-never-gets-locked/