Unfortunately, the majority of distressed homeowners do not qualify for Loan Modification Programs. Most struggling homeowners, as well as mortgage experts, are of the opinion that the US Government is still not well enough equipped and armed to fix the housing problems within the nation. According to recent reports, it…
First-time home buyers are often shocked when they see the list of closing costs they must pay when purchasing a home. What are Closing Costs? Some of these fees are charged by the mortgage company, while other fees are payable to different parties. Your realtor should explain all of this…
If you’ve been shopping around for a mortgage you have undoubtedly heard the term “points” mentioned many times. But if you are like most people, you haven’t the slightest idea what it means. What are Mortgage Discount Points? When people talk about mortgage points, they are usually referring to mortgage…
Federal Housing Authority (FHA) loans and Conventional loans both refer to different types of home mortgage loans, with conventional loans encompassing all mortgages regulated by the current Fannie Mae (Federal National Mortgage Association) and Freddy Mac (Federal Home Loan Mortgage Corporation) lending limits. There are two main differences between these…
Unless you have a few hundred thousand dollars burning a hole in your pocket, you’re going to have to take out a mortgage in order to buy a home. And.. you will need to make sure that all of your finances are in order so there will be no last…
