5 States Where Home Repossessions Are on the Rise

Mortgages

5 States Where Home Repossessions Are on the Rise

5 States Where Home Repossessions Are on the Rise

Foreclosure activity in the U.S. increased from September to October, driven mostly by a jump in scheduled foreclosure auctions and homes repossessed by lenders. RealtyTrac’s monthly foreclosure report shows changes in foreclosure activity — default notices, bank repossessions and scheduled auctions of residential properties — across the country, on a state level and in the… Read More

4 Unconventional Homes You Can Buy & How to Do It

Mortgages

4 Unconventional Homes You Can Buy & How to Do It

4 Unconventional Homes You Can Buy & How to Do It

Looking to purchase real estate other than a traditional cookie-cutter single-family home? If you’ve ever been told you can’t get residential mortgage financing on a certain type of property, think again. As challenging as it may be to get a loan for an alternative property type, it can be done. 1. Manufactured Homes Considered to… Read More

3 Signs You Shouldn’t Buy a Home

Mortgages

3 Signs You Shouldn’t Buy a Home

3 Signs You Shouldn’t Buy a Home

Buying a home will be one of the biggest purchases of your life. When you’re ready to make the commitment, it can be an incredibly rewarding experience. But timing is important. Purchasing before you are financially and emotionally ready can lead to tough financial choices in the future. Instead, choose the path of responsible homeownership… Read More

Why Mortgage Payments for New Homebuyers Could See a Big Jump

Mortgages

Why Mortgage Payments for New Homebuyers Could See a Big Jump

Why Mortgage Payments for New Homebuyers Could See a Big Jump

Proposed changes to requirements for private mortgage insurance could increase mortgage costs for many homebuyers, particularly borrowers with relatively poor credit, according to a new report from the Urban Institute and Moody’s Analytics. Borrowers are required to get private mortgage insurance (PMI) when their down payment is less than 20% of the home’s value, to… Read More

The Key to Buying a Second Home

Mortgages

The Key to Buying a Second Home

The Key to Buying a Second Home

If you’re looking to buy an additional home, you may be facing a big hurdle: your other debts. The percentage of your income that you pay toward your debt is a critical factor in determining how much house you can afford. If your total monthly debt payments, including your current house payment and your proposed… Read More

5 Kinds of Mortgages: What’s Right for You?

Mortgages

5 Kinds of Mortgages: What’s Right for You?

5 Kinds of Mortgages: What’s Right for You?

Home buying can be a whirlwind and, unless you are a lottery winner or heir to a fortune, likely includes taking out a mortgage. Choosing the right mortgage loan for your budget includes assessing your income, lifestyle, credit history and qualifications. But it’s not just a matter of finding an affordable option – it’s also… Read More

The 2.9% Mortgage Rate: How to Get It

Mortgages

The 2.9% Mortgage Rate: How to Get It

The 2.9% Mortgage Rate: How to Get It

A 2.9% mortgage rate sound great, but is it too good to be true? Anyone looking for a home loan knows they want to get the best interest rate possible, but getting a great deal has a lot more to it than comparing rates at face value. The current rate for a 5-year adjustable-rate mortgage is… Read More

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