There has been a lot of talk about the possibility of consumers across the board getting free access to their credit scores. Currently, the only way to see your credit score is if you pay for each of the scores offered by Transunion and Equifax. Each company charges about $15 a pop for a credit [...]
In recent years a consumer credit score ranging from 680 or higher was a measure of good credit management. But a lot has happened in the financial sector of the nation and changes have been made in credit cards, the housing market, and other industries which has necessitated the need to raise the ideal three-digit [...]
There has been a lot of talk lately surrounding loan modifications being offered by mortgage lenders to homeowners who are having financial hardships. In many cases, the modified loan agreements being offered are the only solution to keep homeowners from facing foreclosure. But what few homeowners realize is that these loan modifications are not just [...]
When you need to secure a loan or some type of financing, how much you are paying in interest makes a big difference for how much you are paying for the overall loan. The amount you pay in interest charges can be lessened greatly if you pay attention to the three important factors that affect [...]
As an active member or a veteran of the United States military with dreams of owning a home but who have less-than-perfect credit, there still are opportunities available for financing a home purchase. The Department of Veterans Affairs has being offering the VA Loan Guaranty Program since the 1940’s and it has assisted more than [...]
Homeowners that are still facing foreclosure because affording mortgage payments has become too difficult in light of financial hardships may be considering a modification of their current mortgage. While a mortgage loan modification does provide relief, not all homeowners will be deemed eligible by their lenders nor will all qualify for governmental assistance. What Is [...]
If you are conducting your due diligence and investigating reverse mortgages, you may be wondering “What are the dangers and pitfalls of reverse mortgages?” After all, there are plenty of myths and false information being spread and it gets hard to separate fact from fiction. The most dangerous thing you can do is not ask [...]
If you are a senior, aged at least 62, then you are eligible for a reverse mortgage, but you are probably still wondering, “How does a reverse mortgage work?” They are not quite as complicated as you may think. They are, in fact, a low interest loan that utilizes the equity in your home as [...]
Just like applying for a new mortgage is now more difficult because of stricter rules and guidelines, so too is the process of refinancing an existing mortgage. If you are considering a refinance, you likely will find it more difficult than it used to be. There are so many things to consider nowadays, it pays [...]
Being upside down on your home can bring about many stressors as well as many questions as to the next step. Homeowners who owe more for their mortgages that what the home is worth are considered to be in the upside down category. The recent housing crisis has put many homeowners into a difficult predicament. [...]
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