Four Ways to Save Money on Your Home Mortgage
When you analyze your finances, your housing expenses are likely the highest cost in your budget plan. According to the United States Census Bureau, the average monthly mortgage payment in the United States is $ 1,200. Nevertheless, it does not cover additional charges related to homeowner insurance and real estate ...
Mortgage Equity Withdrawal (MEW): All You Need To Know
What Does Mortgage Equity Withdrawal Mean? Home mortgage equity withdrawal (MEW) is the removal of the owner's stake from the property through a mortgage loan against the property's current market value. A mortgage equity withdrawal will reduce the actual value of property by offering new liabilities against it. Understanding Mortgage ...
What is a Lender?
Lenders are defined as companies or financial institutions that provide loans to businesses and individuals, expecting that the total amount of loan will be repaid later. The lender earns interest on the mortgages, which is charged at a specific percentage of the total loan granted to the borrower. Borrowers can ...
How Many Mortgage Loan Payments Can I Miss Before Foreclosure?
Under normal circumstances, you might miss four mortgages before foreclosure. But it also depends on several factors, including your lender's specific policies and the real estate market. However, (during the COVID19 pandemic) the federal government has protected mortgages guaranteed by the Federal Housing Administration (FHA) or supported by Fannie Mae ...
7 Solutions for Homeowners Struggling with Mortgage Loans
If you’re struggling with a home mortgage or having difficulties repaying loans, you are not alone. According to RealtyTrac, one in every 12,448 homes remains in foreclosure throughout the USA as of Dec. 2020. In Florida, one in every 6,240 residences, while in California, one in every 11,342. The coronavirus ...
Should I Select an FHA Loan to Buy My New Home?
Financing your new property or construction home requires time, organization, and understanding of the different alternatives available to you as a customer. One option is the FHA loan, offered by the Federal Housing Administration. In contrast to other mortgages, FHA loans have many benefits and are designed specifically to streamline your ...
