The Mortgage Files

Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.

Scott Sheldon's The Mortgage FIles Blog

Does monthly mortgage insurance last for the life of the loan?

By Scott Sheldon / August 28, 2012

Monthly mortgage insurance can usually be removed at 20% equity if you have a conventional loan. The mortgage lender must remove the mortgage insurance at 22% equity.if you feel you have 20% equity in your property and your currently paying monthly mortgage insurance, contact your mortgage lender and request they remove the monthly mortgage insurance.…

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Scott Sheldon's The Mortgage FIles Blog

My mom is behind on her mortgage payment. How long does she have to wait to get a mortgage?

By Scott Sheldon / August 13, 2012

To secure mortgage loan today, you can have no thirty-day mortgage leads in the last 12 months. Your mom will have to wait a period of one year to be able to secure mortgage loan financing.

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