Renting

Renters: Are You Ready to Buy a Home?

While you save up your down payment, take these 5 steps to get you closer to closing.

125% Second Mortgages Are Back Again…

It feels like we’re getting dangerously close to repeating history in the worst way possible. High-risk loan programs that seemed extinct were perhaps only endangered, as evidenced by a new product launch over at CashCall, an Orange County based company that offers both personal and mortgage loans. Yep, they’re offering 125% second mortgages, and no, [&hellip

The post 125% Second Mortgages Are Back Again… first appeared on The Truth About Mortgage.

Nearly 3 Million Homeowners Already Receiving Mortgage Forbearance

We’re now getting more information on just how many Americans might be receiving mortgage relief due to the crippling effects of coronavirus. It’s only been a couple weeks since mortgage forbearance programs were officially launched, including the relief that’s part of the CARES Act, which allows homeowners to pause six to 12 mortgage payments. And [&hellip

The post Nearly 3 Million Homeowners Already Receiving Mortgage Forbearance first appeared on The Truth About Mortgage.

How to Get Cash Out of Your Home in a Rising Rate Environment

In a perfect world, you could tap into your home equity and lower your mortgage interest rate at the same time. But because interest rates rise and fall over time, this simply won’t always be the case for homeowners in need of cash. This is especially true these days as the great bulk of existing [&hellip

The post How to Get Cash Out of Your Home in a Rising Rate Environment first appeared on The Truth About Mortgage.

Borrowers Don’t Choose Mortgage Lenders for the Best Interest Rate

Conventional wisdom would lead us to believe that consumers go with the mortgage lender that offers the lowest interest rate. This appears to not be the case… In fact, it’s the least common reason why a borrower selects a particular home loan lender, which is pretty shocking considering how much money is at stake. I [&hellip

The post Borrowers Don’t Choose Mortgage Lenders for the Best Interest Rate first appeared on The Truth About Mortgage.

FHFA Says No Lump Sum Due Once Mortgage Forbearance Ends

It’s Monday and I’ve got some good news for homeowners regarding mortgage forbearance. This morning, the Federal Housing Finance Agency (FHFA) announced, or rather reiterated, that homeowners currently in forbearance with a Fannie Mae- or Freddie Mac-backed mortgage are not required to pay back all the missed payments in one lump sum. Rather, they’ll be [&hellip

The post FHFA Says No Lump Sum Due Once Mortgage Forbearance Ends first appeared on The Truth About Mortgage.

2019 Mortgage Rate Forecast: We Could Be in for a Big Surprise

Just like that another year has passed, well almost, so it’s time once again to look forward to what the next 365 days might bring. Will 2019 be a winner for mortgage rates, or will home buyers and refinancers face more agony like they did in 2018? As always, I compile predictions and data from [&hellip

The post 2019 Mortgage Rate Forecast: We Could Be in for a Big Surprise first appeared on The Truth About Mortgage.

Introducing the Livestream Open House

Necessity is the mother of innovation, and with that comes the so-called “Livestream Open House,” which has just been launched by Realtor.com in the face of COVID-19. To combat the ill effects of the coronavirus on the housing market, companies have been stepping up efforts to introduce new tech that allows consumers to continue pursuing [&hellip

The post Introducing the Livestream Open House first appeared on The Truth About Mortgage.