Today, only four out of ten mortgage applications close. That means 60 percent of prospective home buyers walk away disappointed. For first-time home buyers, that statistic may be even higher. But if your mortgage application is declined, don't … [Read more...]
No Credit History? Prepare for an Uphill Climb to Auto, Home Financing
September 17, 2009 by
Matt, 26, feels it’s time to stop renting and think about buying a home. He earns $48,000 a year at his IT job outside Washington, D.C, he has saved $20,000 he could use for a down payment (and more in his 401k), and he has no debt. And that’s … [Read more...]
When To Finance Even If You Could Pay Cash
August 7, 2009 by
Should you ever go into debt even if you have the cash to make the purchase? Dave Ramsey would definitely say "NO!". But believe it or not, there are situations in which it may actually cost you more if you don't go into debt! … [Read more...]
Refinancing: What You Need to Know (Even Before You Own)
July 15, 2009 by
Mortgages are complicated. Looking to swap one mortgage for another by refinancing? They get even trickier. So it pays to understand how the mortgage refinance process works and when refinancing is a good idea (and when it's not) early in life. That … [Read more...]
How to Find the Best Mortgage
June 16, 2009 by
Everybody I know that has bought or will soon be buying a home spends countless hours searching for the perfect home. Few, if any, spend much time searching for the perfect mortgage. Make no mistake; finding the right first home is important. But … [Read more...]
Young and Upside Down on the Mortgage: What Would You Do?
April 30, 2009 by
Embattled real estate markets and soaring foreclosures aren't just affecting middle-aged Americans; there are plenty of young people who bought early at the wrong time. True, young homeowners have less invested in a home and plenty of time to rebuild … [Read more...]
Beware Loan Modification Scams
December 24, 2008 by
Loan modification companies are sprouting up left and right to take advantage of embattled home owners at risk of foreclosure. If this includes you; watch out. Some loan modification companies are nothing but down and dirty scams. … [Read more...]
