mortgage loan

How to significantly reduce (or even cancel!) your mortgage

by Chris Lang on March 14, 2013
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We have been completely unaware of this until now, but according to Money Morning, vast amounts of Australian borrowers can significantly reduce, or even cancel, their mortgages if the mortgage documentation was manipulated. Have we not missed their first story, originally published in August last year, we’d be reporting on this sooner, but – better […]

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What everyone should know about buying a house at auction (part 1)

by Chris Lang on July 25, 2012
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Even now, when the real estate market is slowing down, at least 50% of the houses are sold at auctions. This means that any home buyer should know exactly what to do at auction, what are the rules, understand and speak the language of auctions. Before I knew all the things you are about to learn, auctions scared the daylight out of me. Especially because of the huge amounts of money involved – every silly mistake can cost you a lot.

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Why is Loan to Valuation Ratio important?

by Chris Lang on June 8, 2012
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The Loan to Valuation Ratio or LVR is an important criteria used by Lenders to evaluate your suitability to borrow. It is a formula that the Banks and Lenders have devised based on experience of loan defaults that attempts to minimise risk from borrowers defaulting. The Loan to Value Ratio is expressed as a percentage […]

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What a DEFAULT or a JUDGEMENT means for your credit history

by Chris Lang on May 28, 2012
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Credit history is a very important input in the process of assessing a person’s borrowing capacity. People rarely think about their credit score before diving into the purchase of a new home, yet at that point in time bad credit history can be tough to ‘undo’. As we know money doesn’t come with instructions, so so getting an understanding of these terms in the world of credit history can help you maintain…

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10 Simple Ways to Pay Off Your Home Loan Quicker

by Chris Lang on January 20, 2012
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Home loans are inevitably one of the biggest single household investments. We might complain about school fees, car registration costs or the price of milk going up … but in the end, a little lapse of attention to your home loan and the consequences will be far bigger than all of these extra bills put […]

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CHOICE Big Bank Switch: get the best deal on your mortgage

by Chris Lang on August 1, 2011
CHOICE Big Bank Switch: get the best deal on your mortgage

Ever heard of Groupon? If not, I’ll explain – it’s a deal-of-the-day website, that offers discounted certificates for purchasing products. The way it works is, if a certain number of people sign up for the offer, the deal becomes available to the whole group. You must be wondering “What the heck does this have to […]

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No more mortgage exit fees, says the law

by Chris Lang on March 25, 2011
No more mortgage exit fees, says the law

I don’t know whether this is a good or a bad news, but from the 1st of July mortgage exit fees are officially banned. To boost competition between lenders this law came into effect 2 days ago. The purpose is to make shopping for a better loan easier. Paying thousands of dollars in mortgage exit […]

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What To Ask Your Mortgage Provider

by Chris Lang on March 12, 2011
What To Ask Your Mortgage Provider

Choosing the right home loan can save you thousands of dollars. With so much you, as a borrower, need to know it can be very hard to be sure you choose the correct one. A few tips and a level head can help you get exactly what you need. There’s a lot that you’ll need […]

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Finding An Affordable Home Loan Even With Bad Credit

by Chris Lang on February 23, 2011
Finding An Affordable Home Loan Even With Bad Credit

In today’s economic world, developing bad credit is a relatively easy task to accomplish. Whether you have gotten yourself into credit card debt, defaulted on a payment or even filed for bankruptcy, a bad credit rating can seriously affect your ability to secure a home loan. It is not necessarily over for you if have […]

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Refinancing from Westpac or CBA? NAB will pay your exit fee, but…

by Chris Lang on February 21, 2011
Refinancing from Westpac or CBA? NAB will pay your exit fee, but...

As you may have heard, NAB has announced its decision to refund mortgage exit fees to new customers who choose to switch from Westpac or the Commonwealth Bank. What’s the big deal? A couple of things, actually. Mortgage exit fees are estimated to be $700 – $900, and in the short term an offer to […]

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Who owns your house?

by Chris Lang on January 12, 2011
Who owns your house?

Peter and Fiona have bought a house. They paid a deposit from their own money and took a mortgage loan in a bank to cover the rest (the loan was guaranteed by the house). The question is: who owns the house, Peter and Fiona or the bank? You will find the answer to this question […]

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