A stable employment history is a foundational principle to determine a borrower's ability to pay a mortgage.
Certain borrowers are asset rich without much documentable income. It can be the tendency for these borrowers to consider they have no mortgage options and can’t qualify for a loan due to this lack of income.
Supplemental property taxes are additional taxes that are levied on a property when it is sold or undergoes significant improvements
An easy guide for Reverse Mortgage borrowers and their families.
We're separating fact from fiction regarding the current housing market.
A second mortgage is a loan secured by your home that allows you to tap into its equity, offering potential benefits like access to cash and lower interest rates, but also comes with risks such as increased debt and potential foreclosure.
When it comes to having our credit scores assessed, we often have one of two reactions. If our score is good, we tend to be indifferent, but if it’s less than ideal, a feeling of dread starts to creep in. Regardless of which group you fall into; the reality is that good people can have bad credit. As we’ve all seen first-hand this past year, unforeseen circumstances such as a job loss, serious illness, or accident can spell trouble for our financial situations – not to mention our credit scores.
If you are a retiree who owns your house, or has significant equity, but wants to downsize and don’t want to obtain another mortgage with corresponding mortgage payments, you may be interested in learning how a reverse mortgage can expand your purchasing power without diminishing or jeopardizing your cash flow.
Refinancing into a lower interest rate can be a smart financial move. By refinancing, homeowners can lower their monthly mortgage payment, reduce the total amount of interest paid over the life of the loan, and potentially shorten the term of the loan. All these options result in savings. The key question is how to structure the refinance.
