How do I pay my first mortgage payment? After closing the sale on buying a home it’s time to start sending payments to your mortgage servicer. Buying a home is the most stressful event of modern life. Now that it’s done, you can breathe a sigh of relief, settle into homeownership and start paying off [...]
What is a deed of trust? This document often confuses homeowners, especially after they pay off their mortgage. Here’s what you need to know. Q: Thank you for your recent article about transferring ownership of a home among family owners. My question is simpler. I recently paid off my mortgage and received a Certificate of [...]
What happens to real estate when the government is shut down? Fannie Mae released temporary guidelines for loan processors to assist federal workers and contractors during the government shutdown. Homebuyers, lenders and real estate agents might experience closing delays as the U.S. partial government shutdown continues. And, there’s nothing that increases personal and financial stress [...]
Real estate challenges and opportunities in the New Year. Whether you’re buying a home, selling a home, or investing in real estate here’s what you need to know about the housing market in 2019. As we start 2019, there are some important changes that you need to know about, starting with the increased loan limits [...]
What you need to know about student loans and mortgage pre-approval. Your loans and credit history play a large role in how much you’ll be approved for. Q: I have been enjoying your videos on YouTube and had a question about a pre-approval. My wife and I intend to try and get pre-approved for a [...]
Speeding up the short sale process: Is it possible? The answer depends on the lender, the seller, and the real estate market. Q: I’ve been reading a lot of your columns about short sales. Why do short sales take so long to complete? How can I make the short sale process go faster? A: Short [...]
Will buying a house hurt your credit? Research on how taking out a mortgage impacts your credit score is finally here to answer this age-old question. Your credit score will fall an average of 15 points over a period of four months after buying a house, according to consumer analysis by LendingTree. More specifically, your [...]
If the mortgage wasn’t closed properly when you sold your home, what can you do? Some legwork is required to get the answers you need from the mortgage company. Q: I sold my home three years ago but the mortgage company says that I still owe money on the mortgage. I told them the loan [...]
If you don’t have a mortgage today, it’s unlikely you’ll get one in the future. More than 70 percent of those without mortgages aren’t likely to get one in the future, and the 2008 housing crisis greatly influenced their aversion to homeownership. So, what’s causing the reticence? Retirement is the most common reason Americans say [...]
If you’re thinking about prepaying your mortgage loan taxes, you should think again. This move can do more harm than good. Q: If my tax payment is included in my mortgage payment, am I allowed to go to the local tax office and prepay the taxes before the due date in order to reduce my [...]
