Understanding Mortgages & The Major Players in a Foreclosure

Mortgages: What You Need to Know

If you’re shopping for a home, learn what you need to know about mortgage loans.

How Do Mortgage Points Work and Are They Worth Buying?

Buying mortgage discount points will reduce your loan’s interest rate and monthly payment. But are they worth it?

What's the Difference Between a Mortgage and Deed of Trust?

Whether you have a mortgage or deed of trust makes a difference when it comes to foreclosure. Learn the difference between the two.

What's the Difference Between a Mortgage and a Promissory Note?

Learn the difference between a promissory note and a mortgage or deed of trust on your home.

What's an Underwater Mortgage?

Here's the definition of an underwater mortgage, and the problems that these mortgages pose for homeowners.

What Is a Subordination Agreement in Real Estate?

You might need a subordination agreement if you refinance your home and have more than one mortgage.

Investment Property vs. Second Home: What Is the Difference?

Learn the difference between a second home and investment property. It can affect the type of loan you get.

What is a notice of servicing transfer?

When a second mortgage lender sends you a “notice of servicing transfer” after foreclosure, it means your lender transferred your loan to another company.

What's a Reverse Mortgage?

Learn about reverse mortgages, including the upsides—and many downsides—to getting one.

Mortgage Rules on "Ability to Repay"

The CFPB's ability to pay rule requires mortgage lenders to make sure a borrower can afford a mortgage before issuing the loan.

Protections for High-Cost Mortgages

HOEPA imposes additional requirements on lenders and gives consumers specific remedies for violations.

The Periodic Statement Rule: Monthly Mortgage Statement Requirements

The federal periodic statement rule requires mortgage lenders and servicers to provide homeowners with prompt, regular, and accurate information about their mortgage loans.

When Are Prepayment Penalties Allowed in New Mortgages?

Federal law prohibits some mortgages from having prepayment penalties, which are charges for paying off the loan early.

Federal Laws That Cover Force-Placed (Lender-Placed) Insurance

Federal law restricts when and how a mortgage servicer can require you to pay for expensive insurance coverage that it buys on your behalf, called force-placed insurance.

What Happens to a Mortgage When One Spouse Dies?

Federal law can help you keep a mortgaged home you inherit.

What Is a Mortgage Escrow Account?

What you need to know about mortgage escrow accounts.

How to Get Rid of Your Mortgage Escrow Account

You might be able to cancel your mortgage escrow account and pay property taxes and insurance on your own.

What's the Difference Between a Conventional, FHA, and VA Loan?

If you're looking for a home mortgage, be sure to understand the difference between a conventional, FHA-insured, and VA-guaranteed loan.

How and when will my mortgage lender notify me if it transfers my loan?

Learn about mortgage lender and servicer obligations to notify you if your mortgage loan is transferred to another lender or servicer.

How Do I Find Out Who Holds My Mortgage?

Here's how to find out who owns your mortgage and who services it.

How and when must the mortgage servicer notify me of payment changes on my adjustable rate mortgage?

Learn about notification rules for payment amount changes on adjustable rate mortgages.

What happens if my mortgage servicer doesn't pay the insurance or property taxes on time?

If your loan is escrowed, the servicer must make timely property taxes and homeowners' insurance payments.

If I'm Late on Mortgage Payments, What Fees Can the Lender Charge?

If you're behind on your mortgage payments, the loan servicer (on behalf of the lender) can charge various fees and costs. Learn about them.

Can I Cancel My Impound Account in California?

Learn whether you can cancel your impound account and pay property taxes and insurance on your own in California.

What Is CAIVRS?

If you’re applying for a government-backed loan, your lender will run a CAIVRS check. The results might prevent you from getting the loan.

Can I Lose My Home to Foreclosure If I Don’t Pay for Homeowners’ Insurance?

If you breach your mortgage contract's terms by not having homeowners’ insurance, you might face added costs and, eventually, foreclosure.

Can I Lose My Home to Foreclosure If I Transfer the Property to a New Owner?

Nonpayment isn't the only way to end up in foreclosure. Transferring the home to a new owner might also lead to a foreclosure.