MoneyUnder30.com

The Consequences of Walking Away From a Mortgage

I hope this post doesn’t apply to you. That is, I hope you’re not in---or at risk of---foreclosure. We all know there are still a lot of foreclosures out there. As a Realtor, it’s especially obvious. Every time I drive to one of my short sale listi … [Read more...]

How To Get A Mortgage For A Rental Property

I waited for five months to hear back from the bank that they financially accepted my offer on the rental property: $85K! All of my paperwork was completed, the inspection came out better than expected and the bank was even giving me 2% toward … [Read more...]

Condo Financing is Different

Are you considering getting a mortgage to buy a condo? Read this first. As a Realtor, I know that condos are popular among first-time home buyers. After all, the average condo costs less than the average single-family home. (In March 2011, the … [Read more...]

Mortgage Underwater? Here Are Your Options

So, was 2005 the year that you dove in and bought your first house? How much do you wish you had had a crystal ball back then? Don’t be too hard on yourself: NOBODY had the ability to see the future and nobody knew just how bad the housing i … [Read more...]

Four Ways to Save $50,000 or More On Your Mortgage

Note from David: When I got serious about financial improvement, I knew I wasn’t going to be able to totally eliminate dining out, Starbucks, and other indulgences like every personal finance book told me to. (Some people can; I just liked them too m … [Read more...]

The Real Truth About Loan Modifications

Loan modification is a hot topic these days. Millions of home owners are currently struggling to make their mortgage payments, and many owe more than their homes are worth. If you find yourself in this situation, your options aren't great. … [Read more...]

How to Shop for a Mortgage: 7 Steps to Finding the Perfect Home Loan

Photo by woodleywonderworks. Every week, I see home buyers make the same expensive mistake: they simply don’t shop around for a mortgage. It’s a shame. When you buy a home, getting the right mortgage loan is just as important as the right house. Af … [Read more...]

Seller Carry Backs: Finance a Home Without a Mortgage

Most people have never even heard of a seller carry back, yet it can really pay to understand this real estate strategy. What is a seller carry back, anyway? A seller carry back is simply owner-provided financing. You may also see this advertised as … [Read more...]

Is a Short Sale Right For You?

Are you or someone you know having trouble paying a mortgage? You’re not alone. Millions of Americans are still grappling with the fallout from the recent recession. And for many, that means falling behind on mortgage payments. If you’re starting t … [Read more...]

Get a Mortgage Pre-Qualification Letter Before House Hunting

Once you’ve made the decision to purchase a home, I recommend you get pre-qualified for a home loan as soon as possible. Pre-qualification is a quick but very important step you should take before making any offers. Why? Pre-qualification s … [Read more...]