Perhaps indirectly.
A short sale is worked out between you, your lender(s), and the buyer(s). Therefore, everything is open to negotiation. Continue reading ‘Can My Lender Grab My Personal Savings in a Short Sale Deal?’
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Loading ...Who’d have thought? Today, lenders are putting limits on how LOW an adjustable rate mortgage rate can go. Just like caps on interest rate adjustments help protect borrowers, interest rate floors protect lenders. Continue reading ‘When Your ARM Hits the Floor’
(8 votes, average: 4.88 out of 5) Loading ...Many thousands of people get mortgages after completing a bankruptcy. How long you have to wait depends on a few things. Continue reading ‘Can I Get a Mortgage After Filing Bankruptcy?’
(9 votes, average: 5 out of 5) Loading ...Who would have thought “mortgage” would be everyone’s favorite cocktail party topic?! And listening to the misconceptions flying around you’d have to conclude that everyone at the party was drunk. So here’s a quick course on mortgage rescue. Continue reading ‘The Unofficial Mortgage Rescue Guide’
(16 votes, average: 5 out of 5) Loading ...If you’re just getting to the point where you feel you understand your credit score, well, prepare to start over. FICO 08 is on its way and is already in use by some lenders. How will this new credit scoring system affect you when you apply for a home loan? Continue reading ‘What Is FICO 08 Credit Scoring and How Will it Affect You?’
(6 votes, average: 4.83 out of 5) Loading ...Two large American lenders are being sued by the NAACP for allegedly discriminating in their lending practices. The two separate lawsuits filed in the U.S. District Court in California cite studies that indicate that some lenders’ policies treat borrowers of different races, well, differently. Continue reading ‘Is There Discrimination in Mortgage Lending? NAACP Sues Mortgage Lenders’
(11 votes, average: 4.91 out of 5) Loading ...The Wall Street Journal recently featured a new mortgage product that allows borrowers to pledge their future equity in exchange for a loan today. It works like this: The finance company advances you money–usually 10 to 15% of the current value of your home, and when you sell it, the investor gets half of the property’s appreciation. Continue reading ‘Cash Out Refi with No Equity? Yup’
(23 votes, average: 4.91 out of 5) Loading ...Today I spoke with a friend who is at her wit’s end dealing with her two mortgages. She and her husband were fine until they were hit with economy-related work reductions and some unforseen expenses. Despite the fact that it would almost certainly be to their advantage to walk away from their home loans, they want to do the right thing, keep their house, pay their bills, and not uproot their kids. Continue reading ‘Second Mortgage Holder Jerking You Around?’
(7 votes, average: 4.86 out of 5) Loading ...It’s bad enough that you can’t pay your mortgage and have to go through foreclosure or a short sale. But it could get worse than that if you’re not careful. Continue reading ‘Foreclosure / Short Sale Pitfalls’
(9 votes, average: 5 out of 5) Loading ...Government mortgage programs are all the rage these days–mainly because that’s where the money is. And unlike the crazy, water-tight underwriting of private mortgage programs, government mortgage lenders don’t require that you provide a saliva sample and turn over your first-born child. Continue reading ‘Government Loans Are Great–But You’ve Gotta Pass a CAIVRS Check’
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Gina Pogol writes for an online media company about mortgage and finance. In addition to a decade in mortgage lending, she formerly consulted for Experian and other credit bureaus, and worked as a tax accountant for Deloitte. She has a BS in Financial Management from the University of Nevada.
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