Qualifying for a Mortgage with Child Support Arrears

Child support arrears can affect your loan application, but not always in a negative way. How you handle the arrears play a vital role in your ability to secure financing. As is the case with any other debt or even income, the lender looks at the whole picture. They...

Good News: Updated Policy On Reconstructed Mortgage Loans

Fannie Mae has new rules that could help you catch up on your mortgage payments.It is important to note the difference between restructuring and refinancing to understand what the updated policy means for you.Loan restructuring, also known as loan modification changes...

First Quarter Data Show Good Start For Mortgage Lending

It’s a good start for mortgage lending – or at least that’s what the numbers say. In a latest data report released by Equifax, the first quarter of the year has seen increases in mortgage activity, owing to the positive financial wave that Brexit resulted after its...

Five Common Refinancing Blunders and How to Avoid Them

When you think of refinancing, you automatically think of saving. It allows you to lower your current interest rate and reduce the loan term. Some refinancing options even allow some cash-out. The goal is to save more money. While this is true, it is not always that...

Don’t Leave Out These Important Contingencies in Your Purchase Contract

Buying a home means more than negotiating a sales price. You have to work out other important details that sometimes are even more important than the price you pay. You need what they call contingencies in your contract. Without them, you leave yourself at risk for...

Mortgage Applications Slide Down in Latest Weekly Survey

In the week ending July 7, the volume of mortgage applications had acutely gone down 7.4 percent for the previous week. This data** is reported by the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey.SURVEY HIGHLIGHTSThe overall Market...

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Fed Defers Rate Hike as CPI Remains Unchanged

The Federal Reserve (Fed) decided to keep the target range for the federal funds rate between 1 and 1.25 percent. This is in line with its economic data which shows inflation running below its targeted 2% threshold and as confirmed by the Consumer Price Index that...

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Homebuying Tips for the Season

Seasonality is probably something you did not think about when you first decided to get a home. But it’s a big factor in homebuying and could dictate the price options that are available to you.Aside from inventory and demand factors, there are also quite a checklist...

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Fed Raises Benchmark Rate Again, How Will This Affect You?

The Federal Reserve (Fed) raised its benchmark rate by a quarter percentage point, from 1% to 1.25%effective June 15, 2017. A reading of the Fed’s policymaking body, Federal Open Market Committee (FOMC)’s statement signals that this won’t be the last rate hike this...

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