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...
Explaining the Loan Process
First: Get Pre-Approved Buying a home is a wonderful investment, but it should be approached with the right strategy. BEFORE finding a home, and falling madly in love with a neighborhood, people should first talk to a mortgage loan officer to get pre-approved. ...
Did A Mortgage Just Get Easier to Obtain?
It is so hard to get a mortgage.......not any more. A mortgage just got easier to qualify for. The real estate industry is finally getting it's wish. Lending standards are loosening up. Fannie Mae and Freddie Mac's new lending guidelines went into effect Monday,...
Will Mortgage Rates Rise
Will Mortgage Rates Rise... The question many are asking is --Will Mortgage Rates Rise... No one really knows...but everyone has a theory. There is an expectation for rates to rise because of the Federal Reserve’s plan to withdraw from buying mortgage-backed...