Search Results for cost of money tag:searchlightcrusade.net,2021:/mt//feed/cost of money 2021-04-17T20:00:29Z Movable Type 4.21-en 128 1 128 Why You Should Not Refinance Just to Lower Your Payment tag:www.searchlightcrusade.net,2008://3.4366 2021-04-17T14:00:00Z 2021-04-17T12:53:22Z Dan Melson http://www.searchlightcrusade.net/ I keep talking with people who don't understand that a higher interest rate on a refinance can result in a lower payment even though the cost of money goes up. In fact, they don't understand why refinancing tends to lower... APR vs APY: What The Difference Between Note Rate and APR Tells You tag:www.searchlightcrusade.net,2010://3.4961 2021-04-11T14:00:00Z 2021-04-11T14:54:12Z Dan Melson http://www.searchlightcrusade.net/ I have in the past told people to ignore APR. APR should not be used to compare between loans. Not only is it a one dimensional number used to measure what is fundamentally a two-dimensional trade-off between rate and... Why You Should Ignore APR tag:gockel.hmdnsgroup.com,2007:/~searchli//3.2716 2021-04-07T14:00:00Z 2021-04-07T12:26:54Z Dan Melson http://www.searchlightcrusade.net/ One of the things you get with every mortgage loan quote is an APR, or Annual Percentage Rate. There is even its own special form, the federal Truth-In-Lending (TILA) form, required at application for every loan. This was mandated by... Biweekly Mortgage Spam tag:gockel.hmdnsgroup.com,2007:/~searchli//3.2713 2021-04-05T14:00:00Z 2021-04-05T14:00:46Z Dan Melson http://www.searchlightcrusade.net/ Sometimes spam makes writing an article all too easy. Here is a piece of spam I got, probably because my email at work contains "realestate.com", with identifying information taken out. This goes to show that the financial ignorance of most... How Can A Temporary Buydown Help Realtors and Agents? tag:www.searchlightcrusade.net,2008://3.4340 2021-04-01T14:00:00Z 2021-04-01T13:17:06Z Dan Melson http://www.searchlightcrusade.net/ That was a question I got. The answer is that it doesn't make a difference, but it used to be one more way you could be conned or cozened into buying a more expensive property than you could really afford.... Should You Pay Off Your Mortgage Faster? tag:www.searchlightcrusade.net,2008://3.4324 2021-03-27T14:00:00Z 2021-03-27T10:46:10Z Dan Melson http://www.searchlightcrusade.net/ I have to admit to being conflicted. The numbers say no. The psychology says yes. Let's examine both. Most first mortgages out there are between six and seven percent, and tax deductible at a marginal rate of about 28%. If... Mortgage Accelerators, Money Merge, and Paying Your Mortgage Down tag:www.searchlightcrusade.net,2010://3.4954 2021-03-15T14:00:00Z 2021-03-15T12:16:41Z Dan Melson http://www.searchlightcrusade.net/ My article Debunking the Money Merge Account Scam has been getting a lot of attention and a large amount of hate mail lately. The scamsters that sell these things love to send me hate mail for exposing the fact that... Magical Thinking About Mortgage Loans tag:www.searchlightcrusade.net,2008://3.4244 2021-03-03T15:00:00Z 2021-03-03T14:15:20Z Dan Melson http://www.searchlightcrusade.net/ (This is an updated reprint of an article written in February 2007. The Era of Make Believe Loans that made it easier to qualify people for inflated loan amounts ended abruptly a few days later, but the sort of thinking... What If You Cannot Refinance Later? tag:www.searchlightcrusade.net,2010://3.4946 2021-02-28T15:00:00Z 2021-02-28T11:27:54Z Dan Melson http://www.searchlightcrusade.net/ People always assume they'll be able to refinance later. Even most of my articles have it as an implicit assumption. But what if you can't refinance later? There are situations where it happens. Many situations, as millions of people... Can They Force You To Pay Off Your Car or Other Debts In Order To Get A Loan? tag:www.searchlightcrusade.net,2011://3.4885 2021-02-22T15:00:00Z 2021-02-22T14:05:36Z Dan Melson http://www.searchlightcrusade.net/ The short answer is not only "yes" but "damned straight" I refinanced my house, and the lender put as one of my payoffs my Acura lease that I have 3 years left, whick equals about $19,000. I told him that... Games Lenders Play, Part VII - Selling Mortgage Accelerator Programs tag:www.searchlightcrusade.net,2008://3.4201 2021-02-10T15:00:00Z 2021-02-10T14:37:19Z Dan Melson http://www.searchlightcrusade.net/ I thought I'd share this with you as an example of the sort of mind set to beware. This is a real email I received, with identifying information redacted. I found you through the DELETED web site and I thought... The Lure and the Trap of Debt Consolidation - Payment Versus Cost of Interest tag:www.searchlightcrusade.net,2008://3.4158 2021-01-23T15:00:00Z 2021-01-23T15:01:48Z Dan Melson http://www.searchlightcrusade.net/ A while ago I did an article entitled Debt Consolidation Refinance - Doing it Wrong vs. Doing it Right. It's a good article, if I do say so myself. Nonetheless, I think there's more to say on the subject, not... Virtues of the US Real Estate Loan Market tag:gockel.hmdnsgroup.com,2007:/~searchli//3.2625 2021-01-19T15:00:00Z 2021-01-19T14:21:56Z Dan Melson http://www.searchlightcrusade.net/ The scope of the problems that exist in the United States consumer mortgage market are huge. Enormously, mind-bogglingly, "How Big Is Space?" type huge. Yet, the problems are almost entirely on a retail level, when one provider works with one... Buying Your Final Home: Payment versus the Rate/Cost Tradeoff tag:www.searchlightcrusade.net,2010://3.4930 2021-01-12T15:00:00Z 2021-01-12T16:29:38Z Dan Melson http://www.searchlightcrusade.net/ Hello, Mr. Melson, I am one of your legion of fans of your www.searchlightcrusade.net website, having lucked into stumbling upon it by hyperlinking from another site. It is my goal to read EVERY ONE of your archived articles before I... Being Realistic Saves Money on your Mortgage tag:gockel.hmdnsgroup.com,2007:/~searchli//3.2604 2021-01-02T15:00:00Z 2021-01-02T13:55:10Z Dan Melson http://www.searchlightcrusade.net/ If you haven't heard about the thirty year fixed rate mortgage, welcome to planet Earth and I hope we can be friends. The thirty year fixed rate loan seems to be the holy grail of all mortgages. It's what everyone... One Loan Versus Two Loans tag:gockel.hmdnsgroup.com,2007:/~searchli//3.2598 2020-12-27T15:00:00Z 2020-12-27T15:35:38Z Dan Melson http://www.searchlightcrusade.net/ One of the questions we ask all the time is whether to do your financing as one loan or two loans. Until comparatively recently, one loan was the default option, but people have been learning that splitting their home financing... How Can I Lower The Down Payment Requirements So I Can Buy Real Estate? tag:www.searchlightcrusade.net,2010://3.4923 2020-12-24T15:00:00Z 2020-12-24T17:03:30Z Dan Melson http://www.searchlightcrusade.net/ With a few lenders starting to loosen their requirements slightly in San Diego, it's becoming increasingly obvious that the bottom is behind us. However, the issue has now become, "I don't have much of a down payment. How do... Don't Let Cash Distract You From Cost In Real Estate tag:www.searchlightcrusade.net,2008://3.4103 2020-12-20T15:00:00Z 2020-12-20T18:02:52Z Dan Melson http://www.searchlightcrusade.net/ There are many ways of suckering real estate consumers, and cash as an inducement to get people to swallow a raw deal is one of the most common. From sellers (usually developers), "free" upgrades are one of the most common.... Prepaid Interest and Why You Never Really Skip a Mortgage Payment tag:www.searchlightcrusade.net,2010://3.4916 2020-12-10T15:00:00Z 2020-12-10T13:36:53Z Dan Melson http://www.searchlightcrusade.net/ Many people think that mortgage interest works like rent: paid in advance before you live in the property for the month. This is not the case. Mortgage interest is paid in arrears. As you begin the month, interest begins... Unsustainable Loans You Should Not Use to Purchase a Property tag:www.searchlightcrusade.net,2008://3.4065 2020-12-09T15:00:00Z 2020-12-09T13:24:44Z Dan Melson http://www.searchlightcrusade.net/ You've probably heard the horror stories, and I've mentioned the possibility more than once. Some unsuspecting person is looking at properties beyond their price range, and it therefore has all kinds of attractive features that properties which are in their...