Refinance

Will Forbearance Prevent You from Getting a Mortgage in the Future?

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.

Fannie Mae and Freddie Mac Agree to Buy Mortgages in Forbearance

While the CARES Act has allowed millions of homeowners nationwide to put their mortgage payments on hold, doing so has left lots of questions for mortgage lenders. One being how they’d continue to pay investors while the loans they service were in forbearance. The FHFA clarified that piece yesterday by agreeing to only hold servicers [&hellip

The post Fannie Mae and Freddie Mac Agree to Buy Mortgages in Forbearance first appeared on The Truth About Mortgage.

Home Prices vs. COVID-19: Will They Go Up or Down?

It’s time to take a look at how COVID-19 could impact home prices given the massive disruption to the local, state, national, and global economy. On the one hand, inflation is expected due to all the government spending, which could lead to a price increase since real estate often acts as an inflation hedge. Conversely, [&hellip

The post Home Prices vs. COVID-19: Will They Go Up or Down? first appeared on The Truth About Mortgage.

Mortgage vs. Cash: Which Is the Better Option When Buying a Home?

It’s been about eight months since my last mortgage match-up, so let’s give it a whirl again. Today, the focus will be on taking out a mortgage versus simply using cash when purchasing a home. Of course, it’s not that simple for the majority of the population to throw a few hundred thousand dollars (or [&hellip

The post Mortgage vs. Cash: Which Is the Better Option When Buying a Home? first appeared on The Truth About Mortgage.

Could a Cash Out Refinance Be a Better Solution Than Mortgage Forbearance?

The current solution for those struggling to make mortgage payments due to COVID-19 is mortgage forbearance. It allows homeowners to “pause” mortgage payments for anywhere from six to 12 months while their income is reduced or completely nonexistent. Once it comes to an end, the homeowner must repay the missed payments, either by making a [&hellip

The post Could a Cash Out Refinance Be a Better Solution Than Mortgage Forbearance? first appeared on The Truth About Mortgage.

President-Elect Trump vs. Mortgage Rates

You may have already read the headlines. Things like Trump-fueled Treasury surge and the so-called Trump Effect, all driving mortgage rates higher. And it’s not just fodder, it’s true. Since the election results came in last Tuesday night, mortgage rates have been on an upward tear, which clearly isn’t good news for those looking to [&hellip

The post President-Elect Trump vs. Mortgage Rates first appeared on The Truth About Mortgage.