Financing

An incredible number of Americans have suffered damaged to their credit scores in the last few years while lending standards for home loans have become increasingly tougher. This doesn’t mean that you should give up on buying a new home by any means. Begin rebuilding your credit now and you could see your credit scores rebound and be able to buy a new home and get a mortgage sooner than you think.

Foreclosures and bank reviews continue to hit the news making it all the more confusing for struggling homeowners to make sense of what is going on with their mortgages. Are you going to get help or do you need to sell your home fast?

Sensational headlines desperate to boost dwindling readership levels so that they don’t go broke have been luring already victimized homeowners into a dangerous sense of false security.

Are home loan modifications really a smart move or could they just sink you deeper underwater?

Need to stop foreclosure on your home fast? Check out your 5 options now…

Mortgage rates are great but the news headlines may have you believing that no one qualifies for a home loan these days. Don’t panic. Whether looking to scoop up a great deal on a new residence while there are still deals to be had or looking for a way to expand your real estate investments there are still mortgage programs out there and they may be a lot easier to qualify for than you think…

Are you selling a house that isn’t worth as much as the balance remaining on your mortgage? Then it may be time to walk away. With the real estate market not expected to recover until 2023 and foreclosure rates abysmally high, more and more Americans are choosing to let their lender repossess their home even though they’re ahead on the mortgage. It’s a strategy that the lending industry calls “strategic default,” and if you’re struggling to build equity in your home, it might be worth a closer look.

If you’re buying a house, you’re entitled to a “good faith estimate” when applying for a mortgage. However, sometimes these itemized rundowns of the estimated costs of a home loan aren’t made in good faith at all. They can be misleading, and they can bait a homeowner into paying thousands more than they had anticipated. In order to protect yourself from predatory lending, here a few things you need to know about good faith estimates:

Although financial experts usually advise buyers to avoid adjustable-rate mortgages like the plague, there are a few instances when choosing this type of home loan over a fixed-rate mortgage can actually be beneficial. If you’re buying a house in the near future and you don’t know which type financing you should be looking for, here are a few reasons why you might want to consider an ARM.

If you’re buying a house this season, you’re in luck. Due to the sagging market, lenders are giving new homeowners lower mortgage rates than they have for the past 10 years. However, you’re going to need to do more than just show up to a lender’s office if you want to minimize your interest. Before meeting with your loan officer, make sure that you’ve taken these three steps to strengthen your portfolio.