Thursday, July 05, 2007

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An Introduction to Mortgage What Is the Big Fuss about It

A lot of people talk about mortgage all the time, but not all people really know what it is. If you are one of those who do not really understand all the things about mortgage but are afraid to ask, do not be afraid. Mortgage is simply a way of borrowing money, however, you use property as a security for payment of the loan. It may sound a complicated matter, and it is indeed a serious issue, but it really takes just some time to understand what mortgage is.

The word mortgage stems from French Law. It literally means death vow because a borrower supposedly puts something very personal or important at stake for the sake of the loan. Originally, the term refers to the process of securing a loan with property as collateral but nowadays it has become the shortcut for the loan itself the mortgage loan... View the rest of this article by visiting BuyerBeWhere.com at the link above...


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Refinancing Your Home Typical Closing Costs

When refinancing an existing mortgage, homeowners must be prepared to pay new closing costs, just as they did when they initially purchased their property. There is little difference between the costs associated with a refinance loan and those of an initial purchase loan, so experienced borrowers should not be surprised.

Following are the major costs one can expect upon settlement of a refinance loan.... View the rest of this article by visiting BuyerBeWhere.com at the link above...

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Closing Costs and other Hidden Home Buying Costs
things first time home buyers might not be aware of in the purchase of a new home....closingcost buydown points prepayments escrow accounts motgage loan



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