Articles by Ed Lathrop

1) Being Way Behind In Payments Doesn't Mean You Are Beyond Mortgage Help
It is normal for the economy to go through a period in time where defaults and delinquent payments are up following a real estate market boom. To listen to the news, you would think the terms foreclosure and loan defaults are brand new. This is not the case. After the hot real estate market of 1985 to 1988, there were many families who had problems keeping up with their mortgage payments. Here again,... » read more

2) Repair Slow Computer Speed and Start Racing Down the Fast Lane Of the Information Highway
Poor computer speed can be one of the most frustrating things someone must deal with. It's terrible when your computer decides to stop working when you are in the middle of an important project or just Web surfing. Diagnosing the problem can be frustrating because it's difficult to know where to begin. The first thought is to add a bunch more memory to the computer and see what happens. While it is... » read more

3) Do You Need Mortgage Payoff Insurance?
The world of insurance is a complicated one. It sometimes seems impossible to know when a policy is a wise investment or a total rip-off. When it comes to insuring a mortgage with a mortgage payoff policy it gets very complicated because there are so many different policies around. Is it better to buy an insurance policy from a lender or from an insurance company? Should you have an accidental death... » read more

4) What Can I Do About Anxiety?
For many years one of the biggest problems some people face is nervousness and anxiety. To the onlooker, who only experiences mild nervousness every now and then, it doesn't seem like much of a problem. However, to the person fighting extreme nervousness, complete with attacks of anxiety and/or panic, it seems like an insurmountable problem! Though many think anxiety is some new manifestation that has... » read more

5) The Rule of 72 and Getting Rich in Real Estate!
At the current time, it's no secret the price of real estate has stopped increasing and has started to fall in most parts of the country. Though this may be bad news for people who were planning on their homes going up in price quickly, a dip in price is good news for those looking to invest in real estate. In the coming years, many people will be making money because they bought into this real estate... » read more

6) Five Ways Lenders Try to Take You for a Ride
There are literally, thousands of different types of mortgages available. How do you know if your lenders are trying to fit you for the mortgage that's best for you, or if they're just looking to make some extra bucks? Here are a few ways lenders could pad their bottom lines at the possible expense of yours. 1. A $400,000 mortgage with a $1,199 payment. If you find a $400,000 mortgage that only... » read more

7) Making Money in a Down Real Estate Market
When the real estate market is booming, the price of property gets higher each month. Making money in this type of market is easy. In fact, you can hardly avoid making money in a hot real estate market. Just buy property at the going price with, preferably, a no points mortgage, hang on for a couple months, then put it back on the market and ask 10 percent more than you paid for it. If there are no... » read more

8) When is a Cup of Coffee Worth $37,000?
I was standing in line at the local doughnut shop waiting, like tens of other people, for a chance to order a coffee. I couldn't help but overhear a conversation in front of me about how terrible it was because these people in the doughnut shop who worked so hard, were actually making money. "It's because they have big money behind them," was some of the chatter I heard. The conclusion was, I guess, it... » read more

9) Saving Money With Biweekly Payment Plans
Someone told me he was saving lots of money because he switched his mortgage payment schedule to biweekly. He said it was a really great plan and that his mortgage would be paid, in full; several years ahead of his monthly payment schedule and that it would save him over $70,000! I told him I thought it was a great deal and then asked him how much it cost to convert to the biweekly plan. He said,... » read more

10) 10 Questions to Ask the Mortgage Loan Originator
You've decided to refinance or purchase that new home and now it's time to call a bank or mortgage company to apply for a mortgage. How do you know you'll be getting the mortgage that will be the right one for you? How do you know you're dealing with a good honest person? Asking these 10 questions will separate the wheat from the chaff in a hurry! Question 1. Will this mortgage have an application... » read more

11) Which is Worse, a Higher Interest Rate or More Points?
Saving a lot of money on a mortgage isn't all that complicated. Get a lower interest rate and save. Get a higher interest rate and pay more. So, shopping around for the best interest rate can be very beneficial to your bottom line. Have you ever wondered where a point enters into the equation? Though it can be very confusing, don't overlook the number of points you pay on your mortgage. Even a... » read more

12) Making Big Money With Distressed Properties
The term, "distressed properties" has always seemed rather amusing to me. It makes me think of a property that is sad or somewhat out of sorts, even lonely. When you think about it, a property cannot really be distressed. A house can be rundown and in need of repair, but that doesn't necessarily mean it's distressed. I know a lot of people who live in run-down properties and they're happy as can be to... » read more

13) A $310,000 Mortgage With a $999 Monthly Payment!
A friend of mine called to inform me he had gotten some great news in the mail. He received a letter from a lender in California informing him they would give him a $310,000 mortgage and his monthly payment would only be $999! "Think of the house I could buy," he told me excitedly! "I know I could qualify to make a monthly payment for twice as much and if I sell my house which has a $200,000 equity and... » read more

14) The Newest, Latest, Greatest, Fastest, Cheapest, Most Revolutionary Mortgage
There's a new kind of mortgage, and it's taking the refinance world by storm. The promoters of this new kind of loan claim that you can pay it off in full in eight years without changing your budget at all! This sounds like it would be ideal for any homeowner. Let's take a look at this mortgage and see if we can figure out if it is really all its cracked up to be. This new kind of mortgage is... » read more

15) What Happens After the Bubble Bursts?
What happens when the real estate bubble finally bursts? Is it all bad news? Well, it's bad news if you were going to use your equity to put your kids through college, but if you're a real estate investor, it ain't all bad. The end of a real estate boom is the beginning of the buying season. It's time to start looking around for bargains. If you don't see any bargains at first, hang on, you will. As... » read more

16) Who Wants an Extra $100,000?
A penny saved is a penny earned, and if you're like me, you would rather make money by doing very little than by making money by the sweat of your brow. There are a lot of people who could be saving over $100,000 just by making the right moves on their home mortgages. Take the case of a friend of mine who was complaining about being spammed in his e-mail, and having a mailbox full of junk mail, from... » read more

17) The Housing Bubble is About To Burst
The latest numbers are now in and, guess what? The housing market continues to slow. Housing prices are once again down and housing starts have come to a halt. Is this the start of the housing market bubble burst we've all heard so much about? My answer: You bet! Now, that Democrats have something to do with it, you bet the recent Bush tax cuts will be repealed. You bet the investors will come under... » read more

18) The Biweekly Mortgage Scam
One of the popular ways to save money on mortgages is to use what is known as the biweekly mortgage payment plan. With the biweekly mortgage payment plan the borrower makes payments on his mortgage every two weeks, instead of once a month. The biweekly payment is one-half of the monthly payment. So, if you converted from a monthly plan to the biweekly plan and you had been paying $2,000 a month for your... » read more