A foreclosure proceeding is a legal process that allows homeowners to catch up on delinquent mortgage payments. In addition to the mortgage payments in arrears, other charges may be attached to the mortgage. These additional charges must also be paid in full before the title of ownership of the property can be transferred back to […]
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What Are The Pros And Cons Of Getting A Reverse Mortgage?
If you have a mortgage, you may have heard about a way to have a mortgage loan that requires no payment. This may sound surreal, but it is known as a reverse mortgage. As opposed to the traditional mortgage loan that is repaid over time, the reverse mortgage is designed for the homeowner to receive […]
Continue ReadingHow To Fight & Win Against A Home Foreclosure
Today people have been increasingly struggling to keep up with their mortgage payments. Even if you’re not one of them, you may know someone facing a home foreclosure. With almost every state declaring a foreclosure crisis, knowing how to fight and win against home foreclosure is essential. Foreclosure is not something that happens overnight. Many […]
Continue Reading5 Big Mistakes To Avoid As A First-Time Home Buyer
Every year, millions of Americans buy a house for the first time. This is called being a “First-Time Home Buyer” and it can be a very exciting time in your life. Your family can enjoy the new space together on many occasions. The problem with this concept, though, is that there are hundreds of mistakes […]
Continue ReadingWhere Can I Find Free HUD Approved Foreclosure Prevention Counseling?
Owning a home can be a gratifying experience in the life of many people. While homeownership can be an emotionally rewarding experience for an individual or family, it can sometimes be difficult to manage some of the financial matters associated with owning a home. These difficulties may lead to a foreclosure. We’re going to explain […]
Continue ReadingWhat Are The Pros & Cons Of Paying To Lock In Mortgage Rates?
There are pros and cons to consider when it comes to locking in mortgage rates. On the one hand, paying to lock in a rate can provide peace of mind and protection from rising rates. On the other hand, there is always the potential that rates could fall after you’ve locked in, leaving you with […]
Continue ReadingIs A Wave Of Foreclosures Coming In The Near Future?
With the arrival of the COVID-19 pandemic, the past year for most homeowners has been anything but ordinary. The unemployment rate has skyrocketed, and many people have been worried about reaching a point where they’ll be unable to make their mortgage payments. For many people, foreclosures could be happening in the near future. While government […]
Continue ReadingHow To Know If A Reverse Mortgage Is Right For You
A reverse mortgage is a loan. Unlike forward mortgages, which are used in buying a home, you don’t need to make any loan payments when it comes to the reverse mortgage. The loan becomes due if a borrower dies, sells their home, or moves permanently. The government requires lenders to structure a transaction, so the […]
Continue ReadingHome Equity – What Is It and What Can You Do With It?
The majority of homeowners do not own their homes. They do not have the amount of capital required to buy their homes in cash, and they, therefore, seek mortgages from certified mortgage lenders. They are co-owners with the lenders for as long as the mortgage is outstanding and not paid-in-full. Home equity is the difference […]
Continue ReadingNew Survey Reveals Top Barriers To Homeownership
The 2019 Consumer Financial Literacy Survey reveals the most significant obstacles faced by prospective homeowners, underscoring the need for homebuyer counseling and education. As Financial Literacy Month is recognized throughout the nation in April, Advantage Credit Counseling Service and the National Foundation for Credit Counseling® (NFCC®) are working together to spotlight the results of the […]
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