Foreclosure is a situation no mortgage holder wants to face. Generally, when a borrower has defaulted on the home loan terms by not keeping up with the scheduled payments, a lender can start foreclosure. Foreclosure is when a mortgage lender starts a legal process...
Mortgage refinance is an option in the mortgage industry that’s sometimes misunderstood. A mortgage refinance is when you obtain a new mortgage with more favorable terms for your home. It takes the place of the original mortgage. These are relatively popular. On...
If you’re like most people, you’ve undoubtedly heard of foreclosures on property, but the term “short sale” is a little less common. What’s is common, however, is significant confusion about what short sales are and how they differ from...
If you put down less than 20% of the purchase price, your home mortgage will probably include private mortgage insurance (PMI). This premium protects the lender in case you can’t pay your mortgage. Find out more about how PMI works and when you can stop paying...
The better your credit score, the better your interest rate will be when you secure a mortgage. The closer your credit score is to the fair credit threshold, the higher your interest rate will be when you get a home loan. Banks set your interest rate based on how much...
