Anyone over the age of 62 with equity built up in their home may be able to supplement their income and establish an emergency fund with the help of the Department of Housing and Urban Development. The HUD reverse mortgage is a way to take out the equity in your property to help you with your monthly bills and set aside a fund to assist in case of an emergency. The concept of a reverse mortgage may be new to some Continue reading
This 2010, millions are at risk of facing foreclosure on their homes, which is why loan modifications are in huge demand. However, at a time when most are in desperate need of help, scams abound to rip people off their remaining money and even their homes.
Loan modification scams are not often easy to identify. Here are some valuable hints to indicate whether you are being Continue reading
Before you seek out a lender to refinance your home, find out what your FICO score is. Ideally, it should be above 600, but you are still able to find some decent deals with a FICO score in the 500s. If your score is even lower, there may be some lenders that will deal with you, but your interest rates won’t be optimum. No, if your credit is that low, it may be best to try to raise it a bit before Continue reading
If you want to move forward and lock in the best deal, it is essential that you adopt the right formula for finding the “perfect” mortgage. Here are the things that you must follow:
1. Anticipate future scenarios
You must go for the mortgage that matches your finances and lifestyle. For instance, if you are about 25-30 years old, recently married and seriously Continue reading
Obama’s Loan Modification program is giving hope to millions of homeowners who cannot afford their mortgage payments. This article describes how you can receive up to $5000 to help pay your mortgage.
How does it work?
The Pay For Success fund which is a portion of Obama’s loan modification program will reward homeowners who get a loan modification and can keep Continue reading
If you were to be asked to describe and give a definition for the word mortgage, would you be able to, because it is surprising how few people know what they really are. They are not for instance a loan, even though the vast majority of people believe they are and often refer to them as a mortgage home loan. A mortgage is a secured debt using the property that is being purchased Continue reading
You look around and you are seeing some of your competitors going bankrupt, many of these companies are solid companies with decades of experience. They are doing almost exactly the same things you are, yet down they go, so what do you do?
If you are a bank, you make sure you make it considerably harder for anyone but the most exceptional clients to borrow money from Continue reading