With mortgage rates approaching all-time lows once again, there might be the temptation to snag a 30-year fixed at say 2.875%, or 2.99% if a lender offers a promotional rate. The same might be true of any home loan product, whether itâs a 5/1 ARM or 15-year fixed. But hereâs the thing â a rate [&hellip
The post Sometimes Itâs Actually Better to Choose the Higher Mortgage Rate first appeared on The Truth About Mortgage.
AppraisalVision is looking to expand its mortgage and appraisal teams. The tech start-up has brought in chief product officer Jacob Eland and J.R. Herrington, vice president of strategic accounts, as part of a hiring spree. Eland, who brings two decades of appraisal and collateral underwriting expertise, will focus on enhancing AppraisalVision’s SMART product line. The industry … [Read more…]
It’s time for another mortgage match-up, with the latest in the series pitting the lesser known “deed in lieu of foreclosure” vs. the more popular short sale. Nowadays, there are plenty of options to get rid of your home and avoid foreclosure, even if you owe more than the property is currently worth. By avoiding [&hellip
The post Deed in Lieu of Foreclosure vs. Short Sale first appeared on The Truth About Mortgage.
I received a letter in the mail the other day from a fintech company called âFigureâ that claims it can approve me for a home equity line of credit (HELOC) online in five minutes. Better yet, they can fund the thing in as little as five days, assuming Iâm able to use their remote online [&hellip
The post Figure Review: The Fastest Way to Tap Home Equity? first appeared on The Truth About Mortgage.
While itâs becoming easier to compare the housing bust that sparked the Great Recession with todayâs uncertain climate, the two just arenât the same. Youâre probably going to see lots of articles warning of the next housing crash, claiming homeowners will be unable to pay their mortgages and forced to sell due to COVID-19. But [&hellip
The post 12 Reasons Todayâs Housing Market Is Not the Great Recession All Over Again first appeared on The Truth About Mortgage.
The housing market’s record-breaking quarters in the back half of 2020 have left some observers wondering if this growth is sustainable and whether sales in the near future will bear out the current rate of rapid house-price appreciation. According to a new potential home sales report from First American, the party in the housing market … [Read more…]
With mortgage rates hitting 2015 highs last week, one might worry that the housing recovery will lose steam. The 30-year fixed climbed to 4.08% per the latest survey from Freddie Mac, up roughly half a percentage point from the lowest levels seen earlier this year. Clearly this reduces home buying affordability, and could make it [&hellip
The post Home Prices vs. Gas Prices first appeared on The Truth About Mortgage.
Thereâs been lots of chatter around Wall Street that this could be an unprecedented time to buy stocks on the cheap, given the market carnage related to the coronavirus. One asset manager, Ricky Sandler of Eminence Capital, has even gone as far as to recommend that you refinance your mortgage and use the proceeds to [&hellip
The post Is Now the Time to Pull Cash Out of Your Home and Buy Stocks? first appeared on The Truth About Mortgage.
In light of the ongoing coronavirus outbreak, which were the Federal Reserveâs very own words, the Committee took bold action to lower the target range for the federal funds rate to 0% to 0.25%. Thatâs a full percentage point lower than the 1% to 1.25% it had been previously. And comes on top of the [&hellip
The post The Federal Reserve Has Swooped In to Save Mortgage Rates first appeared on The Truth About Mortgage.
Since the CARES Act rolled out in early April, more than four million Americans have reportedly put their mortgage payments on hold for up to 12 months. The massive numbers taking part can be attributed to the widespread fallout from the coronavirus epidemic (COVID-19), and also the ease at which a homeowner can request assistance, [&hellip
The post Will Forbearance Prevent You from Getting a Mortgage in the Future? first appeared on The Truth About Mortgage.