What Is Predatory Lending?

Vault’s Viewpoint on Predatory Lending · What is Predatory Lending? · 7 Types of Predatory Mortgage Lending Practices · Excessive Fees · Steep Prepayment Penalties · High Mortgage Rates · Loan Flipping · Balloon Payments · Loan Packing · Equity Stripping · Steps You Can Take to Avoid Predatory Mortgage Lending

Mortgagee: What They Do, and Role in Homebuying

A mortgagee is an entity that lends money to a borrower for the purpose of purchasing real estate. In a mortgage lending deal, the lender serves as the mortgagee.

What Size House Can You Afford? Mortgage Pre-Approval Handbook

What exactly is Mortgage Pre-Approval? Mortgage pre-approval is the procedure through which a lender evaluates your financial status and determines how much money they are willing to offer...

What Is a Mortgage Co-Signer and How Does It Work?

Ever wondered what a mortgage co-signer is? Find out all you need to know about the role and responsibilities of a mortgage co-signer in this article.

How Much Mortgage Can I Afford?

However, the specific amount you can afford to borrow depends on several factors, not just what a mortgage lender is willing to lend you. You need to evaluate your finances, preferences...

Deed of Trust: What It Is and How It Works

Vault’s Viewpoint ; Both a deed of trust and a mortgage enable a borrower to purchase property. ; In some states, a deed of trust can substitute for a mortgage. ; In most cases, a foreclosure under a deed of trust does not require a judge’s approval, but a foreclosure under a mortgage does.

How to spot discrimination in mortgage lending, and what you can do about it

Explore mortgage lending discrimination, its types, how it affects borrowers, and what you can do if you suspect discrimination. Learn about your rights.

Primary Mortgage Market: What It Is, How It Works

What Is the Primary Mortgage Market? The primary mortgage market is where borrowers can... Banks have lending limits, meaning they have caps as to how much of their deposit base they can...

Predatory Lending: What It Is And How To Avoid It

Key takeaways ; Predatory lending refers to any unfair practice that benefits the lender and makes it difficult for a borrower to repay debt. ; The signs of a predatory loan include language like 'guaranteed' approval, an inflated interest rate and hidden fees and tacked-on financial products you didn't ask for. ; Be sure to read and understand all of the details in every loan document before signing it.

What is a Mortgage in Principle (MIP)?

A Mortgage in Principle (MIP), also known as an Agreement in Principle (AIP), a Decision in Principle (DIP), or a Mortgage Promise, is a statement from a lender indicating how much they might lend you to buy a property. It’s the first step in the home-buying process, giving you a clearer picture of what you can afford. The Reliability of a Mortgage in Principle · While an MIP is not a guaranteed mortgage offer, it is a valuable tool in your property search. It shows sellers that you are a se...