Mortgage Forbearance? Understand the Facts

May 13, 2020By Uncategorized No Comments

Recently the government has made statements about allowing people to put their mortgage into forbearance. Forbearance means that your lender allows you to either pause your mortgage payments or reduce them for a limited period of time during a financial hardship. But forbearance does not come without strings attached. It is not a “free ride”…

Mortgage Forbearance? Understand the Facts

May 13, 2020By Uncategorized No Comments

Recently the government has made statements about allowing people to put their mortgage into forbearance. Forbearance means that your lender allows you to either pause your mortgage payments or reduce them for a limited period of time during a financial hardship. But forbearance does not come without strings attached. It is not a “free ride”…

Can I Buy a House Before I Sell My Current Home?

December 30, 2019By Uncategorized No Comments

What if you want to buy a new home before you sell your current one? Say you want to keep your existing property as a rental property. For certain loan programs, that’s acceptable if you have a lease drawn up ahead of time. (For some loan programs, that may be trickier.) You may have other…

Home Inspection vs Appraisal

December 24, 2019By Uncategorized No Comments

Here’s something you may not know: A home inspection is not the same thing as a home appraisal. This is not a “you say tomayto, I say tomahto” kind of a thing — they really are two distinct things with two different purposes. Both are critical to the home-buying process. Home Inspection The home inspection is to…

How Many People Does it Take to Buy a House?

December 16, 2019By Uncategorized No Comments

It takes a heck of a lot more people than the average home-buyer thinks. To start with, you’ve got loan officers, appraisers, processors, lock desk specialists, closers, underwriters — and that’s just in the mortgage process. In the Closing Transaction In the closing transaction, you have realtors and you have various inspectors for everything from septic tanks to…

Tricks Lenders Use to Get You in the Door

December 9, 2019By Uncategorized No Comments

Many lenders will use sleight of hand or tricky marketing to get people in the door. Once you’re in, their goal is to make that loan seem as attractive as possible so that you’ll sign on the dotted line as soon as possible. Underestimating Fees Sometimes lenders underestimate certain fees that they are not responsible…