Mark R. Chaffee's Blog

Many people hate their mortgage because they know over the life of the 30 year loan, they will spend more in interest than the house cost in the first place. To save money it becomes very tempting to make a bigger down payment or make extra principal payments. Unfortunately, saving money is not t...

The Benefits of Higher Education  According to the Federal Reserve, the income disparity between college grads and non-grads is growing every year. In 1979, college grads earned 38% more than those with only a high school diploma. But, today, college grads earn 75% more than those without degrees...

Many borrowers wonder, "when is the right time to refinance"? A simple answer to this question is to take the total cost of the refinance and divide it by the monthly savings. For example if the total cost to refinance is $2000 and the monthly savings is $100 the break even is 20 months or nearly...

       In today's sophisticated marketplace it is not uncommon for a prospective buyer to shop around for a mortgage loan. In fact, with so many companies and options available, it is important to shop for the best overall fit. Always begin by making sure you are working with an experienced, prof...

It is always a challenge for homebuyers to select a suitable loan program that comes with a great interest rate. Rising real estate prices, a national shortage of housing and climbing interest rates has increased the pressure to make a quick decision about mortgage financing. But buyers who want ...

Title insurance companies ensure that sellers have clear title tothe property they are selling. The title insurance company's agent performsa thorough search of the public records and certifies that the properparties signed the paper work, paid the taxes and discharged all liens eachtime the hous...

Credit scores still confuse and frustrate many consumers, according to a study by the Consumer Federation of America.  "Despite all the news coverage about credit scores over the past year or so, many consumers still do not understand important facts about these increasingly influential numbers,"...

When a marriage ends in divorce, the lives of those involved are changed forever. During this time of upheaval, one thing that shouldn't have to change is the credit status you've worked so hard to achieve. Unfortunately, for many, the experience is the exact opposite. Unfulfilled promises to pay...

Finally some good news among the endless news stories about the Financial Crisis. Conventional fixed rates dropped sharply after the Fed announced plans to purchase up to $600 billion of debt backed by Fannie Mae and others. This news caused mortgage rates to drop around .75% for a 30-year fixed ...

If you are saving for a new home, you may feel that it will take youforever to come up with the cash necessary for the down payment and closing costs. Before you delay your purchase any longer, make sure you check into the latest low down and no down mortgage products. You may find that your drea...