Whether it’s embarrassment or a messy home sale transaction you want to avoid, clearing up some title restrictions before a home sale can make both less problematic. Home sellers may be asked to clear up any problems found in a title report before the sale proceeds. To prevent being surprised by a buyer’s request, sellers …
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Are you looking to refinance? If you want to get a second mortgage so you can make renovations to your home, it can be difficult if you have poor credit. A second mortgage can use a home’s equity as collateral for a second home loan, allowing up to 80 percent of a home’s value to …
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Mortgage rates have been relatively low for years. Seeing them inch up can cause home shoppers to panic and possibly put their home purchase on hold. The good news is that there are options when mortgage rates are rising. First, it’s worthwhile knowing that small increases in mortgage interest rates shouldn’t affect buyers too much …
It protects them should you default on the loan, especially if you fail to make payments in the early years of the loan when more is owed on it. Foreclosure, property fix-up, and resale costs could result in a loss on the mortgage loan. That is a bad situation the lender wants to avoid. So …
Expert Insights: Why Do Lenders Require a Down Payment? Read More »
Talk with your lender immediately. The lender may be able to arrange a repayment plan or the temporary reduction or suspension of your payment, particularly if your income has dropped substantially or expenses have shot up beyond your control. You also may be able to refinance the debt or extend the term of your mortgage …
Expert Insights: If Faced With Foreclosure, What Are My Options? Read More »
Owing more on a car loan than the car is worth—called being “upside down” on a loan—can make buying a new vehicle difficult. The negative equity can mean getting less for your old car at trade-in or coming up with the extra money to pay off the old debt. Cars depreciate quickly, so the urge …
Talk with your lender immediately. The lender may be able to arrange a repayment plan or the temporary reduction or suspension of your payment, particularly if your income has dropped substantially or expenses have shot up beyond your control. You also may be able to refinance the debt or extend the term of your mortgage …
Expert Insights: If Faced With Foreclosure, What Are My Options? Read More »
It is a short-term bank loan of the equity in the home you are selling. You may take out a bridge loan, or interim financing, to help with a knotty situation: closing on the home you are buying before you close on the property you are selling. This loan basically enables you to have a …
