If you’re new to the homebuying process, chances are you’re wondering what the term “government backed mortgage” really means. A government backed mortgage is not a guarantee that you will be approved just because the federal government is backing the loan.
Author: Peter Pescatore (Peter Pescatore)
Having a great credit score will provide you with better mortgage options, but what happens after you acquire a mortgage? How does a mortgage affect your credit score?
And although title transfers may seem simple, they can actually become quite complicated if there are unresolved liens or claims on the property. This makes title searches important for both buyers and sellers.
If you need to take out a loan, you’re going to have to pay back that loan with interest. Interest is paid in exchange for the convenience of borrowing money. It’s sort of like the price on borrowing money...
Ever since the Federal Reserve slashed short term rated and pushed money into the mortgage market, interest rates have begun to stabilize at extraordinary low numbers. These low interest rates are making it a fantastic time to refinance...
Just when we thought mortgage rates were done breaking records, Freddie Mac announces that 30-year fixed rate mortgage rates have dropped to another new low.
As the Coronavirus pandemic continues, financial uncertainty has unfortunately become the norm for many families. However, many homeowners may be able to catch a break through cash-out refinances. Refinancing involves...
Refinancing is the process of paying off your original mortgage and replacing it with a new one. If your current financial situation is different from what it was when your first mortgage was originated, you may benefit from a refinance.
On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act went into effect. The CARES Act was designed to provide assistance to those who have been financially affected by the COVID-19 pandemic. This includes potentially offering mortgage forbearance to homeowners.
For those who haven’t experienced these kinds of issues before, let’s get back to basics. Here are seven tips for how to ease the journey of restructuring loans during difficult times.