Deciding on an Escrow Account after a Refinance

The monthly mortgage dues of a borrower consist of homeowner’s insurance, private mortgage insurance and property taxes apart from the mortgage principal and interest payments. Lenders require that you pay the insurance amounts and the property taxes in an escrow account held by a third party called escrow services....

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HUD Guidelines for Manufactured Homes

A set of directives prepared by the Department of Housing and Urban Development (HUD) may have served to enhance the quality of manufactured homes. Homebuyers are quite willing to apply for mortgages for this highly affordable quality of housing. Here are the key guiding principles put forward by the...

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Top Mistakes of First Time Buyers

Declining home values can be a boon for potential homebuyers. However, buying a home could be a daunting task, especially for the uninitiated. Here are some common pitfalls to avoid while making your first home purchase. Not Getting a Pre-Approval Many homebuyers look for homes before seeking a pre-approval...

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Features of an FHA Streamline Refinance Program

The Federal Housing Administration (FHA) makes available a convenient streamline refinance program for homeowners. The plan allows borrowers to refinance their existing FHA mortgages into new loans at lower interest rates. The streamline applies to reduction of paperwork and easing the underwriting process so that a borrower may avail...

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Options for Postponing Mortgage Payments

Most lenders are willing to help borrowers who find it difficult to meet their scheduled mortgage dues. Initiating foreclosure proceedings against a homeowner is expensive and demanding for a lender. Lenders look for various options until the homeowners can tide over their current financial difficulties. Here are some deferment...

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The Basics of a Construction Mortgage

A construction mortgage is a loan taken out for building a home. It involves more paperwork than a purchase mortgage does. Here are some aspects of a construction mortgage. Fundamental Features The lender advances the funds in different stages of the construction. Usually, the lender makes available the funds...

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Deciding on an Escrow Account after a Refinance

The monthly mortgage dues of a borrower consist of homeowner’s insurance, private mortgage insurance and property taxes apart from the mortgage principal and interest payments. Lenders require that you pay the insurance amounts and the property taxes in an escrow account held by a third party called escrow services....

visit the full blog »
HUD Guidelines for Manufactured Homes

A set of directives prepared by the Department of Housing and Urban Development (HUD) may have served to enhance the quality of manufactured homes. Homebuyers are quite willing to apply for mortgages for this highly affordable quality of housing. Here are the key guiding principles put forward by the...

visit the full blog »