Archive for November, 2008

Mortgage Loan Requirements – FHA

Over the previous several months mortgage lenders, and therefore customers, have seen many changes to requirements to obtain a mortgage loan. Conventional loans have seen the most changes, leaving FHA financing as a great alternative to many potential home buyers. So what does it take to obtain a FHA loan these days?
About FHA
FHA, or Federal [...]

Mortgage Refinance – Does it Make Sense?

Refinancing is a serious decision that will be based on emotion, money and both short and long term impacts. Deciding whether or not now is the right time can be a difficult process, especially when you know you can get a lower interest rate. So how do you go about determining if refinancing makes sense [...]

Free Credit Report

Many people I talk to have heard about getting their FREE credit report at www.freecreditreport.com because they have heard the catchy commercials they have singing about getting their free report. The advertising is exactly correct; you can get a free credit report from their site IF you sign up for their Triple Advantage Credit Monitoring. [...]

Mortgage Don’ts

I recently received an email from a Lending a Hand reader requesting information on what to avoid throughout the mortgage process to ensure a smooth approval and closing. Instead of just responding directly, I thought many of the readers could benefit from this question, so I decided to write a post on the Mortgage Don’ts. [...]

8 Questions to Ask Your Lender

I was planning to start this post telling you about how important a home purchase and mortgage financing transaction can be, but I think everyone already knows that. Before I jump right into the questions, I want to explain the questions I am suggesting you ask. Most sites on the Internet suggest asking specific questions [...]

Money for Buying a Home

Money, money, money. Money is normally one of the biggest obstacles that stops renters from buying their first home. I don’t think that would be the case if they knew there was money available to assist them with down payment. The great thing is that there is just one website that you need to know [...]

Mortgage and Divorce

Finances are a touchy subject when it comes to divorce, but I guess every subject can get touchy during a divorce. I want to make sure you are aware of the implications of a mortgage when it comes to a divorce and the suggestions I have to protect yourself, on either side.
Who Gets the House(s)?
The [...]

FHA Short Sale Warning

Avoiding foreclosure is always a good option, and a short sale is one option many homeowners turn to when they are unable to continue to make payments and owe more on the home than they could sell it for. There are different rules on how short sales can impact the seller when looking to obtain [...]

Mortgage Calculator

Beware of online mortgage calculators because they may not give you the full story. Most buyers these days are researching mortgage information online before they ever speak to a mortgage lender to become educated and ready to handle this huge purchase. Many of these buyers are searching for mortgage calculators online to help them to [...]

Foreclosure Help is On the Way

Fannie Mae, Freddie Mac, Bank of America, J.P. Morgan Chase, HSBC and CitiMortgage are a few of the mortgage industry giants working to provide relief to homeowners who are behind on their mortgage and have very little, if any, equity in their homes through a streamlined mortgage modification program. Many of the large news stations [...]