Old Mortgages Are Coming Back To Haunt Homeowners
More homeowners are experiencing situations where mortgages they thought were over, continue to haunt them due to mistakes. Many foreclosure cases are not the homeowners default, but rather the record keeping of the mortgage company. Troubles started during the housing boom, wherein record keeping became carless due to the high volume of sales. Mortgage companies [...]
Need an Out Of The Box Solution to a Foreclosure Or Loan Modification?
As someone who successfully did a home loan modification several years ago, I know how difficult it can be. However, after listening to a webinar in regard to home loan modifications and foreclosure options earlier this week, I’m not so sure I would do the modification today. With all the options and amount of information [...]
Home Loans- Avoiding Pitfalls and Ensuring Your Financial Security
There comes a time in every person’s life when buying a home seems the right thing to do and, for that to happen, getting a loan is the most likely manner to achieve such goal. Having your own house where you will be raising a family and live happily ever after is always an exciting [...]
Beware of Real Estate Scams; Especially in Hard Times
It’s always unfortunate to hear when an already struggling family is duped by unscrupulous individuals; especially when it could have easily been avoided if they had done just a couple of things to make sure it was legitimate. This particular real estate scam is not new. In fact, it was a couple of years ago [...]
Why Co-signing a Loan Can Ruin Other People’s Credit; Along With Yours
Every loan officer has experienced the first time home owner come into the office excited about their first home. They may be buying because they are going to be married soon or are newly married or starting and growing a family. It’s not uncommon for them to think that they have done everything they should [...]
Avoiding Closing Cost Surprises
Closing on a house can be an exciting time, especially if you’ve done your research, viewed countless homes, and agonized over the decision to buy. Being prepared for closing costs is an important part of the process, as many new homeowners are left with sticker shock after they close on their first home. There are [...]
Don’t Become House Poor
We’ve all heard the term house poor before, but what exactly does it mean? Being house poor means that all your income and earnings go to your mortgage, home taxes, and home repairs. Being house poor is a situation that no one wants to be in, and that everyone can avoid. Speak with your mortgage [...]
When does Refinancing Make Sense?
Knowing when to refinance your home loan leaves many homeowners with a lot of questions. The best time to refinance is a sensitive thing, and depends not only on when, but also on your specific situation. Refinancing is smart when interest rates are low, because this is the time when you are likely to get [...]
Are you really ready to buy a home?
So many people rush into buying a home they can’t afford. The term, “house poor,” that refers to putting all your money into your house and not having any finances for anything else rings true for many first-time home buyers. Examine your financial situation closely before signing on the dotted line. If you don’t have [...]
Federal Housing Tax Credit
Over the past few years, the United States government offered homebuyers the chance to take advantage of a federal housing tax credit. This credit allowed first-time homebuyers the opportunity to save money on the purchase of their home. The federal housing tax credit was worth up to $8,000 for first time homebuyers. For repeat homebuyers, [...]
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