When an owner obtains a new first Mtg on his real estate, the homeowner has undergone a home Refi. Simply put, think of home Refi as trading in an old first Mtg for a new first Mtg. To Refi a home, the homeowner must apply for a new Mtg. During the application process, the subject home will undergo a new appraisal to determine its value, and the homeowner's credit file will be reviewed. The lender will also order a title report on the property to search for any other liens that may appear. Assuming all these items meet with the lender's approval, the loan will be approved. Once approved, the homeowner will meet typically at the office of the lender or title company to sign the new Mtg.

Foreclosure is the legal and professional proceeding in which a mortgage, or other lienholder, usually a lender, obtains a court ordered termination of a mortgagor's equitable right of redemption. Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the owner the right of redemption if the borrower repays the debt. When this equitable right exists, the lender cannot be sure that it can successfully repossess the property, thus the lender seeks to foreclose the equitable right of redemption. Other lienholders can and do

It’s estimated that millions of veterans and active-duty military personnel have not taken advantage of one of the most valuable benefits our government offers as a reward for service to our country: a Veterans Administration Home Loan. This is because those eligible often do not understand what the VA programs offer; and many Veterans assume that if they qualify for conventional financing they don’t need to consider VA home financing. Your VA home loan benefit is superior in many ways to what is offered by conventional conforming lenders (Fannie Mae and Freddie MAC), as well as loans insured by the Federal Housing Administration (FHA) and sub-prime or non-conforming len