• How Much Do We Need as a Down Payment to Buy a Home?

    It can be confusing to understand the amount of money you’ll need for a down payment on a home because of the availability of different loan programs. Many people, anxious to buy their first home, want to find a loan that requires the smallest percentage down payment. For example, say that a couple has been […]

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  • Why Millennials Prefer Adjustable Rate Mortgages

    The 30-year fixed-rate mortgage has long been a tradition in the U.S., but for many Millennials buying homes, this old-hat loan product just won’t cut it anymore. Instead, this cohort is gravitating toward a historically less-used product: the adjustable-rate mortgage. Offering lower up-front costs and the flexibility to up and move without taking a huge […]

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  • Loan Modification: Lower Your Payments and Avoid Foreclosure

    Sometimes all you need is a little break when you find yourself struggling to make your mortgage payments. A loan modification program can provide relief by making permanent or temporary changes to your loan, such as by reducing your interest rate or extending your payments. You don’t have to default entirely—you can make a few […]

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  • What Is an Upside-Down Mortgage?

    When you buy a home, you hope the value will appreciate over time so you’ll be able to build equity. Of course, it doesn’t always work out that way. Home values in neighborhoods can rise sharply for relatively simple reasons such as a major improvement in public transportation. Home values can also plummet. These fluctuations […]

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  • 5 Mortifying Reasons Mortgage Applications End Up in the ‘Reject’ Pile

    Picture this nightmare: You apply for a mortgage, but your application gets rejected. Suddenly, you’re hit with an overwhelming wave of embarrassment, shock, and horror. It’s like having your credit card denied at the Shoprite. So. Much. Shame. Sadly, this is a reality for some home buyers. According to a recent Federal Reserve study, one […]

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  • 5 Mortgage Misconceptions Set Straight

    Looking for a home loan? Get your facts straight so you can proceed with confidence. Getting a mortgage can be a breeze or a slog, depending on what you know about the process. To get organized and set your expectations properly, let’s debunk some common mortgage myths. 1. Lenders use your best credit scores If […]

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  • Mortgage Cramming and Bankruptcy

    A mortgage cramdown occurs through a bankruptcy process that strips the loan into two different sections with the secured loan acquired and the principle that is the same as the value of the property. The other section is the unsecured loan that has a principle for the rest of the mortgage originally taken for the […]

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