News Sources wrote an interesting post today on
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Since I know all of you are dying to know such things, I’ve spent the day delving into the reasoning for lenders to require 20 percent down payment on second and vacation homes. In short, it’s all about the mortgage insurance. The less you put down on a property, the higher the risk of default. If you’re not able to put at least 20 percent down, lenders require mortgage insurance to help protect them in case of a default. As recently as the start of the year, mortgage insurance companies w

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News Sources wrote an interesting post today on
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An escrow account is established by a broker, under the provisions of law, to hold funds on behalf of two or more people until a contract or transaction has been completed. People are most familiar with escrow accounts in conjunction with their mortgage. A person’s mortgage lender sets up an escrow account to receive monthly payments from the home buyer which is usually lumped into the mortgage payment and used to pay for obligations such as homeowners’ insurance, property taxes, and assessmen

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News Sources wrote an interesting post today on
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September 30, 2009 | By Dean Munzy In Finance | by Ed LesnerAZ Home insurance is considered by many to be just one more evil necessity of home ownership. Every home owner must buy insurance if he still has a mortgage. Unlike the popular title insurance, this type of coverage handles the real estate and personal property inside.Policies also have options called “riders” where additional personal property such as jewelry, furs, high end electronics (home theater equipment), etc.In some ar

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News Sources wrote an interesting post today on
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Standard & Poor’s dropped the structured finance operations of MBIA (MBI) to junk status for the first time late Monday, bringing up its commercial real estate portfolio, but drawing a line in the sand for the traditional public finance insurance business that MBIA has tried to ring-fence from its deteriorating operations. It’s a move that raised several questions – including how it is that a ratings agency has kept at investment-grade the exposure to the collateralized debt obligation

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News Sources wrote an interesting post today on
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by Crystal Guthrie When you purchase a home, there are many other expenses involved with taking ownership than simply paying back your mortgage loan. Homeowner’s insurance and property taxes also need to be paid in addition to having to pay for routine maintenance of your home. An escrow account option provided by your mortgage lender will make the tasks of making these payments simpler. You should understand more about an escrow account and how it works before agreeing to escrow terms. In i

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