The term “forbearance” has gotten a bit of attention over the past few weeks. Unfortunately, homeowners often seek out a forbearance agreement without fully knowing all the implications or understanding exactly what forbearance is and is not. The term has come to the forefront lately as the number of the unemployed mounts and homeowners may […]
One of the most consistent and safe investments continues to be real estate. Yes, there are always ups and downs but over time real estate as an investment asset is hard to beat. Flipping houses was a fad several years ago when No-Doc loans and loans for those with damaged credit were everywhere. Yet experienced […]
Mortgage lenders evaluate good credit and bad credit a bit differently than they did several years ago. Prior to the introduction of credit scoring, a lender’s underwriter would review each credit entry line by line. The underwriter would look at credit limits and account balances, if there were any payments made 30, 60 or 90 […]
When consumers start talking about mortgage loans, the two most important topics are almost always the prevailing interest rate for the loan program they’ve chosen and closing costs. Yes, there certainly are other considerations but in most every instance these two items get the most attention, and rightly so. After all, the interest rate on […]
Mortgage lenders want to make sure applicants can afford a new mortgage payment, and this means looking at your current revolving debt and installment debt. This mortgage payment includes not just the principal and interest amount toward the outstanding balance but also includes a monthly amount for property taxes, homeowner’s insurance and mortgage insurance when […]
Wondering how your new mortgage loan will be handled now that many of us have been officially considered “non-essential?” Well, for one, the mortgage industry is up and running regardless of any status. Yes, there are many who are currently in a work-from-home status and don’t have an official office to go to, at least […]
Are you getting ready to take the leap? Are you wondering if you should go ahead and lock in your rate now? Or maybe wait a bit to see what happens? We get that. But let me take some time here to provide you some suggestions as the best course of action for your situation. […]
Let’s say that around the first of this month you checked mortgage rates to see if a refinance was in your future. Rates have been on a steady decline so far this year so it’s no wonder that you did make a quick check. And rates have fallen to the point in early March that […]
You’re surely been following the news and hearing or reading about the price of oil lately. If you haven’t, well, we’re at levels we haven’t seen in decades. Low levels. Currently, the price for a barrel of oil hovers around $30 with some even predicting prices to fall a bit more over time. Quickly compare […]
If you’re like most people, you really don’t pay much attention to Wall Street on a daily basis. Sure, you’ll check your 401(k) when you statement comes in and peek at your IRA but in general, Wall Street is left for the so-called “experts” who buy and sell stocks every single day. But as you’re […]
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