It is every American’s dream to be free of debt, most especially mortgage debt.To some people being mortgage-free seems too impossible. However, it can be very achievable to be free and clear of a mortgage.According to a report released by the Orange County Register, census statistics have … Continue about Living Free and Clear of Mortgage the Good and the Not-so-good
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Buying a Home
Should You Buy a FSBO Home?
Not every home for sale is listed by a realtor. Many homeowners decide to try for sale by owner (FSBO). This way they don’t have to share the profits. Since it’s up to the seller to pay the real … Continue about Should You Buy a FSBO Home?
Is Rent-to-Own Right for You?
Rent-to-own has become a popular way to buy a home in recent years. After the housing crisis, many consumers left with damaged credit. Unable to secure a mortgage approval, they were stuck renting. … Continue about Is Rent-to-Own Right for You?
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Living Free and Clear of Mortgage the Good and the Not-so-good
It is every American’s dream to be free of debt, most especially mortgage debt. To some people being mortgage-free seems too impossible. However, it can be very achievable to be free and clear of a mortgage. According to a report released by the Orange County Register, census statistics have shown that there were over 27.7 […]
How to Secure Yourself from Phishers
The FTC has issued a public warning against malicious email attacks by hackers, also known as phishers, who can lure buyers into wiring their down payment money into a wrong account. In the 21st century, information is king. Data is a weapon that can be used to gain profit or spread influence. That is why […]
Get a Mortgage With FHA’s Flexible Requirements on Employment
FHA home loans have been a go-to option for many interested home buyers because of their attainable guidelines and low down payment requirements. But one thing that sets this program apart is that they have flexible requirements when it comes to your employment. But keep in mind that when you get a mortgage through the […]
House Okays Private Flood Insurance Bill, Senate Reserves It for NFIP Reform
The House of Representatives recently voted in favor of a legislation that allows the use of private flood insurance policies as an alternative to the federal National Flood Insurance Program (NFIP). If enacted, the private flood insurance is deemed to satisfy mortgage lenders’ requirements in areas at high risk of flooding. However, the Senate struck […]
Everything You Need to Know About Shared Equity Mortgage
Whether it’s your first time to buy a home or not, mortgage borrowers know that the whole home buying process is a challenge. From your home loan application to house hunting, it’s definitely not an easy road to take. But a lot of borrowers would agree that saving enough money for a down payment is […]
What is a Reverse Mortgage?
A reverse mortgage, while a controversial loan product, can be a great financial tool for retiring seniors and homeowners. For many seniors who might benefit and qualify for a reverse mortgage, the loan program remains a mystery. Their understanding might only come from a rumor, an infomercial, or from knowledge of old programs that existed […]
2 Million Californians are now Living Mortgage-free
The state of California has just enforced the newly-signed legislation that would be the answer to the Golden State’s homelessness crisis. Home prices in this state are far from affordable, not to mention the lack of inventory for home buyers from low- to moderate-income classes. Despite this pressing issue, 2 million California residents now own […]
How Well Do You Know Mortgage Rates and Why They Matter to You
A recent survey commissioned by a lender revealed that 53% of its respondents prefer a 10% down payment on a home, not 15%, 20% or 30%. What’s more interesting is that 25% of the respondents professed not understanding how mortgage rates generally work. This confusion is understandable because mortgages can be difficult subjects themselves. But […]
What is Mortgage Protection Insurance, and is it important?
Most of us buy a house not just for self-gratification. Yes, it is true that owning a home boosts our self-esteem, but this isn’t the primary reason we take on a mortgage in order to purchase and keep our dwellings. A shelter is a basic human need. While a home may be one of the […]
How to Not Screw Up With Your First Credit Card
You just got your first credit card. Congratulations! That piece of the shiny metallic card provides you with great purchasing power. But with great power comes great responsibilities. What a common line we here from an all-time favorite superhero comic book. But such line in a fictional story holds so much truth in the real […]