When You Inherit a Home, Do You Inherit the Mortgage?
When a relative passes away if they owned a home there can be a lot of questions about inheriting the home. What happens if you inherit the home? What about any remaining payments due on the current mortgage? Inheriting a Home with a Mortgage In many cases, if you are...
Reverse Mortgage Lending Limit Increases for 2022
Limits for reverse mortgage lending are increasing in 2022 to allow retirees that have substantial home equity to get more money than was available to them in previous years. With a reverse mortgage, a homeowner is able to access home equity in the form of a loan as...
Battling Bias Using an FHA or VA Loan to Buy a Home
The recent craziness in the real estate market including record-breaking prices and highly competitive bidding wars has even the deepest pocketed homebuyers seeing challenges. But for borrowers that are planning to buy a home with a VA or Federal Housing...
Should You Co-Sign on Your Kids’ Mortgage?
Should You Co-Sign on Your Kids' Mortgage? We are living in some unique times where a lot of our kids are staying at home until their late 20s and even early 30s. This millennial shift is due to the high student loan debt and the ability to buy a house is a little...
Is a Mortgage Broker the Same as a Loan Officer?
Homebuyers have a lot of options these days when it comes to financing the real estate purchase. They can go through personal financing, owner financing, a bank or credit union, mortgage broker or loan officer but really what's the difference and which is best for...
5 Ways Not to Lose Your Mortgage
The last thing you want after being approved for a home loan is to find out your financing has fallen through. Once you are approved for a home loan you should basically freeze your finances and not do anything more until you close on your home loan. Too many...
You Lost Your Job | What Can You Do About Your Mortgage?
There's not much that sends you into a panic like losing your job. If you've recently been fired or let go, your monthly mortgage payment doesn't just stop. It might be difficult to keep up with your mortgage payment, even if you have unemployment benefits....
Can I Lose My Mortgage if My Homeowner Insurance is Canceled?
Homeowners insurance needs to cover your outstanding mortgage balance so if you no longer have that insurance equal to the balance, you are legally in violation of the terms of your loan. If you are in default according to the terms on your home loan, your lender...
What Happens When You Inherit a House with a Mortgage?
Someone in your family unexpectedly passes away and lo and behold, you now inherit the house along with the mortgage. What do you do now? Just because the homeowner or mortgage holder passes away before paying off the mortgage, the mortgage does not go away. So who's...
Improve Your Credit Score
Everyone wants a quick credit score fix. Google--fix bad credit---3,200,000 results! Unfortunately it takes time to fix a credit score. In fact, out of all of the ways to improve a credit score, quick-fix efforts are the most likely to backfire, so beware of any...