Mortgages

4 Ways to Avoid Foreclosure

When you are in danger of losing your home, these tips can help you fight to keep it. Here are four ways the average American can avoid foreclosure. 1. Find more money. Can anyone in your household work a part-time…

8 Tips on Selecting the Right Mortgage Lender

Choosing the right mortgage lender can be confusing and stressful, especially for first-time homebuyers. Should a person go with the commercial bank that does lots of advertising, the community bank with hometown connections or the online lender with low rates?…

FHA in a Nutshell

The Federal Housing Administration, FHA, has been promoting affordable financing since 1934. Contrary to popular belief, the FHA does not directly offer home loans; instead, the agency creates policies that encourage banks to lend more money at favorable terms. Since…

Buying Versus Renting: Which One Is Right For You?

In the past few years the real estate market has not been in a normal state of equilibrium between rental rates and purchasing price. Post-recession, investors have been able to buy homes at extraordinarily low prices, in part due to…

Mortgage Terminology You Need to Know

Although home lenders can be difficult to understand at times, they are not speaking a foreign language. By understanding these common mortgage terms, borrowers can feel confident when buying or refinancing their homes. Mortgage A residential mortgage is a contract…

The Truth About Mortgage Interest Rates

Unfortunately, many mortgage shoppers are under the impression that banks set the rates on home loans. Consumers may see an ad with Bank ABC offering 6.5 percent on a 30-year fixed rate loan while bank XYZ offers 6.25 percent, and…

5 Tips to Qualify for a Mortgage Loan

Since 2008's Great Recession, American loan companies have reeled in their financing options. You can still get a home mortgage, but you have to understand the lender's priorities first. These five tips can help you qualify for a mortgage loan.…