Why are mortgage rates going up? Biden, vaccines, and interest rates
Mortgage rates moved up last week, and it looks like they’ll keep rising in 2021. But how high will rates go? Should you try to lock in now?
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FHA mortgage qualifying gets tougher for the self-employed
Due to coronavirus, there are new rules for self-employed home buyers who want to use FHA loans. Learn about new lending rules here.
Post-2008 Standardized Practices Have Helped Manage Forbearances
Posted To: MND NewsWire
Fannie Mae said that the standardization of servicing standards that followed the 2008 housing crisis appears to have helped the industry manage the recent flood of COVID-19 forbearance plans. The company included a series of questions about forbearance management in its September Lender Sentiment Survey and has now released a special report on the responses. Servicers had to move quickly to implement the forbearance programs, which were first announced by the GSEs Fannie Mae and Freddie Mac and by FHA but were then expanded and mandated by Congress under the CARES Act. They also had to manage the loans in forbearance, continue remittances to investors, and make insurance and tax payments out of escrow accounts. As the plans had three-month terms, borrowers had to be contacted to do renewals…(read more)
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Early Mortgage Payoff Benefits Depend on Variables
Question: I will soon make our final mortgage payment. My wife will retire in two years and I will work to age 67. We are both 60 today. Because I don’t get a pension I really have been looking forward to this final payment.
We bought the house 25 years ago, but I shortened the term of the loan by refinancing to a 15-year loan in 2003. Are we doing well to have the mortgage paid off by age 60? –T.M.
Answer: Paying off a mortgage before retirement is sort of the baseball-and-apple-pie of retirement. It’s a feel-good way to create a sense of security in your later years.
28 Stats That Sum Up the American Housing Market
See the numbers behind how Americans rent, buy, sell and even think about home.
Mortgage Rates Today, January 8, 2021 | Key rate advances – Bankrate.com
Mortgage Rates Today, January 8, 2021 | Key rate advances Bankrate.com
How Much Cash Do You Really Need to Buy a Home?
Are you ready to buy a home? Youâre not aloneâin 2019, more than five million people bought an existing home. And that doesnât even include the number of people who purchased new construction. The point is, the housing market is always bustling and busy. And if itâs your first time buying a home, it might seem a… Read More
The post How Much Cash Do You Really Need to Buy a Home? appeared first on Credit.com.
Home Equity Loan: What Is It and How Does It Work?
A home equity loan can allow you to access large sums of money without selling your home. Using your home as collateral, you can get a loan to finance anything you want or need â…
The post Home Equity Loan: What Is It and How Does It Work? appeared first on Crediful.
Should You Roll Your Student Loan Debt Into Your Mortgage?
More students have student loan debt, and their total debt is larger than ever before. Would it be worthwhile to roll student loan debt into a mortgage?
The post Should You Roll Your Student Loan Debt Into Your Mortgage? appeared first on Bible Money Matters and was written by Melissa. Copyright © Bible Money Matters – please visit biblemoneymatters.com for more great content.
Most Affordable Beach Towns â 2021 Edition
Living by the beach can be expensive. Mortgage payments, property taxes and space can make your dream home unattainable. But if you know where to look, you can find a shore home without breaking the bank. The National Oceanic and … Continue reading →
The post Most Affordable Beach Towns – 2021 Edition appeared first on SmartAsset Blog.