Getting Enough Money For A Down Payment
With much of the subprime market gone, not that these kinds of loans were smart to begin with, the days of 0% down mortgages are over. It is back to the traditional, safer way with 10-20%. It may seem like a lot, especially getting closer to 20%, but it makes you much more [...]
Charlotte Real Estate Firm has solution for declined mortgage applications
Buying a home? It’s not as easy as it used to be to get approved for a mortgage. With all the fraud that happened over the last few years, subprime lending has practically come to an end. It is also a common occurence for someone to get approved [...]
Mortgage Defaults On Rise
According to AIG, mortgage delinquency is on the rise. Reported on CNN, that 10.8% of subprime mortgages were 60 days past when payment was due. Currently AIG is classifying home loan borrowers as “subprime” if their credit scores are below 620. Also, according to the CNN article, the delinquency rate for overall [...]
Is it Best to Payoff a Mortgage as Soon as Possible?
Many people do not like the idea of being in debt, as they shouldn’t, and pay extra each month to attempt to pay off their mortgage early. This is usually an emotional or psychological based decision, not financial or mathematical. There are reasons to pay a mortgage off early, but there are also [...]