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 corporations, government entities, and especially criminals … [Read more...] about How to Secure Yourself from Phishers
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 FHA, your 2-year employment history still matters. This … [Read more...] about Get a Mortgage With FHA’s Flexible Requirements on Employment
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 this provision from an … [Read more...] about House Okays Private Flood Insurance Bill, Senate Reserves It for NFIP Reform
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 one of the most difficult burdens they would face. Especially if you're a … [Read more...] about Everything You Need to Know About Shared Equity 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 during the sub-prime lending … [Read more...] about What is a Reverse Mortgage?