About the Author: Maxine Dupont
FICO score and credit score: What is a FICO score?
FICO score is the type of credit score created by Fair Isaac Corporation (FICO) in 1989. The terms "FICO score" and "credit score" are often used interchangeably, but other score brands exist. Credit card issuers and lenders use credit ratings to determine whether your loan application will be approved. Calculation ...
Cosigning a Mortgage Loan: Your Ultimate Guide
Cosigning a mortgage loan can help family or friends buy a house or qualify for better loan terms. Although it may be an excellent measure to help others, you also need to understand the risks you are taking on. Even if the primary borrower never defaults on repayments—the mortgage on ...
Appraisal Contingency: What is It and How Does It Work?
What is an Appraisal Contingency? An appraisal contingency protects homeowners from overpaying for a property in an unstable market. This clause is included in the purchase agreement, and the buyer has the right to withdraw from the transaction if the house's appraisal value is lower than the sales price. When ...
New Mortgage Refinances Option for Low-Income Families
New Mortgage Refinance Option for Low-Income Families If you own a house, there's a new mortgage refinances options by government funding programs that can help you benefit from low-interest rates. The Federal Housing Finance Agency stated that Freddie Mac and Fannie Mae would provide low-income homeowners with a new mortgage ...
Fannie Mae and Freddie Mac Loans: How Do They Work?
How Do Fannie Mae and Freddie Mac Loans Work? You may come across many unfamiliar terms when shopping for a home mortgage. Typically, you will encounter two terms: Fannie Mae and Freddie Mac. But what are Fannie Mae and Freddie Mac, and what do they have to do with home ...
7 Steps To Creating A Will For Your Loved Ones
Creating a will is something no one looks forward to. This is because a huge percentage of people are scared of dying, and everyone assumes they have more time left in life. However, writing a will helps save your loved ones from any misunderstanding that could arise from your death. ...
