Refinancing is a serious decision, and one that is generally not free. In most cases, those who refinance their mortgage will need to pay closing costs that range from 2% to 5%. Even with this in mind, there are times refinancing still makes good financial sense....
Mortgages
A natural disaster damaged my home. Now what?
Those who are coming out of the aftermath of Hurricane Ian only to find that their home has suffered significant damage or is totaled as a result of the storm may wonder what options are available to help them through this difficult time. There are generally two paths...
What are my options if I cannot afford my mortgage payment?
The pandemic hit the country hard. People lost jobs or were unable to work and may continue to struggle to find suitable employment. This translates to difficulties making mortgage payments for households throughout the country. To help keep people in their homes,...
I cannot make my loan payments; how can I make sure I do not lose my home?
The Consumer Financial Protection Bureau reports that more than 11 million families are at risk of losing their homes throughout the country. 2 million homeowners are behind three or more months on their mortgage payment and the agency estimates that homeowners owe...
What can I do to avoid foreclosure?
Homeowners throughout the country continue to fight off foreclosure. Many continue to struggle with finances after the COVID-19 pandemic threw a wrench into their plans. Some had to cut back on work hours, others lost their jobs. Whatever the cause for the financial...
Mortgage forbearance programs are ending: how will that affect me?
In 2020, the United States suffered one of the worst economic recessions in history. Homeowners facing financial struggles had to request forbearance to pause or reduce mortgage payments temporarily. But forbearance does not last forever. Those who first entered the...
Millions of homeowners’ face foreclosure in 2021: Tips to fight back
If you are struggling to make mortgage payments, you are not alone. According to a recent estimate from Harvard University, over 2 million homeowners are behind on their mortgages and could soon face the possibility of eviction. Many homeowners were able to hold out...
Should I refinance my mortgage?
Homeowners may wonder whether or not it is too late to re-finance their home to make the most of low interest rates. They may have reduced income or lost jobs as a result of the pandemic or simply want to take advantage of these low rates. Whatever the reason for the...
First time home buyer? Consider applying for an FHA loan.
It’s common knowledge that, when you are getting ready to purchase your first home, you should shop around for mortgages instead of taking the first offer. While you are considering all your options, you should take into account the advantages of applying for a loan...
Thinking of buying a home in 2021? 3 tips for a low mortgage rate.
The global pandemic has created new appreciation for home ownership. Homeowners can benefit from having some space to spread out and, in many cases, have their own outdoor living areas. This has inspired others to take advantage of homeownership. Those who are looking...