refinance: 8 Things to Know About Selling Your House Before or After Divorce - 08/02/21 02:35 PM
8 Things to Know About Selling Your House Before or After DivorceThere are many things to consider and decisions to make when going through a divorce process. One of them is figuring out what to do about the house. In some cases, one of the partners keeps the house; however, this can become an increasingly difficult situation to manage, especially when there are debts involved. This is why many couples choose to sell the home and split the money obtained. That said, this is a complex process and there are some things you need to know to make it as painless … (0 comments)

refinance: Texas Refinance Rates Drop | Refinance Now and Save Money - 07/21/21 05:40 AM
Refinance rates drop as Fannie Mae removes adverse market fee.Refinance rates drop as #fanniemae and #freddiemac drop the adverse marketing fee.  This will enable more of the 12 million homeowners that have not already refinanced take advantage of these new lower rates.
Tumbling mortgage rates just went even lower following news that an unpopular fee on refinances is coming to an end.
A surcharge of one-half percent, meant to offset pandemic related losses for Fannie Mae and Freddie Mac, created a stir when it was implemented last summer; but now homeowners can breathe easy since the charge will be eliminated.
Now that lenders don’t have to pay … (0 comments)

refinance: What you need to know about Texas cash-out mortgages - 06/30/21 08:39 AM
What you need to know about Texas cash-out refinances By utilizing a Texas cash-out refinance homeowners can tap into their home's equity and very low-interest rates. Because Texas has unique home equity cash-out refinance laws, we have frequently asked questions regarding Texas home equity mortgages.
In recent years many Texas homeowners have elected to pay cash for their home purchases. This is due in part to the very competitive nature of the Texas real estate market whereby paying cash could help one secure the home they wanted. Home values have risen greatly and now homeowner’s equity is rising as well. While … (0 comments)

refinance: Reverse Mortgage Myths | The Truth about Reverse Mortgages - 06/19/19 12:30 PM
Reverse mortgage myths are very common. Reverse mortgages are different than a traditional forward mortgage, therefore many people are afraid of them.  Few people have studied the benefits and the guidelines but are quick to dismiss what they don’t understand.  My name is Richard Woodward, and I am a certified reverse mortgage specialist. I’m going to give you the truth about reverse mortgages.
In 2017 HUD made sweeping changes to the government insured reverse mortgage program. These changes were designed to enhance the program and reduce the number of foreclosures. I like to call these improvements the beginning of The New Reverse Mortgage Program. In … (0 comments)

refinance: Get Ready for the Tax Deductions as a Home owner - 03/09/18 08:36 AM
Get Ready for the Tax Deductions! The IRS is nice to homeowners, no kidding. Here are some of the tax breaks available.
Home Steps Help on Your Way Home
• Purchase Costs Deduction. In most cases, any loan discount points and origination fees are tax deductible for the buyer, no matter who pays for them. Any “daily interest” paid on the mortgage at closing is also deductible. Keep your HUD settlement statement, which contains all this information, to use in preparing your return.
• Mortgage Interest Deduction. Each year the interest paid on your mortgage is tax deductible up to $1 million in … (1 comments)

refinance: Texas Cash Out Refinance | What You Need To Know - 10/09/17 05:08 AM
What you need to know about Texas cash out refinances By utilizing a Texas cash out refinance homeowners can tap into their homes equity and very low interest rates. Because Texas has very unique home equity cash out refinance laws we have put together a list of frequently asked questions regarding Texas home equity mortgages.
In recent years many Texas homeowners have elected to pay cash for their home purchases. This is due in part to the very competitive nature of the Texas real estate market whereby paying cash could help one secure the home they wanted. Home values have risen … (0 comments)

refinance: 5 reasons you may want to refinance your Texas home this year - 06/09/17 08:29 AM
5 reasons you may want to refinance your Texas home this year. I know the market well and McKinney home owners can save thousands by refinancing, especially exiting FHA home owners.
Mortgage rates are near historical lows, but could climb. The Federal Reserve raised the Prime Rate this year and may raise it again this month. Mortgage rates may eventually follow, even though they’re not directly tied to the Prime. If your mortgage rate is more than 1% above current rates, it could make sense to refinance soon.
Call today for your FREE mortgage tune up analysis. No obligation.
Home prices have risen. In … (0 comments)

refinance: How to divide home equity in Texas when divorcing - 01/17/17 09:31 AM
Refinancing while divorcing is a very hard thing to do.  Emotionally and financially, it can be very stressful.  Finding an experienced mortgage lender in Texas capable of handling this delicate situation is essential.
Texas is a common law state and if you are married and own Real Estate that is  considered your primary residence with a homestead exemption, both spouses have equal rights to the equity in the home.  Equity is the value of the home minus the mortgage loan amount.  The Owelty Lien is designed to give each spouse what is owed to them as detailed in the divorce decree states.  I have found that the Owelty … (2 comments)

refinance: Texas cash out refinances What You Need To Know - 11/29/16 03:13 PM
What you need to know about Texas cash out refinancesBy utilizing a Texas cash out refinance homeowners can tap into their homes equity. Because Texas has very unique home equity cash out refinance laws we have put together a list of frequently asked questions regarding Texas home equity mortgages.
To receive your free customized Texas cash out refinance quote please give the Richard Woodward Mortgage Team a call today at 214-945-1066 or complete an online application now.  We are a leading Plano Texas direct mortgage lender and we want to help you.  Don't let an out of state lender tell you that you can't do … (0 comments)