While many date the recent financial crisis from 2008, the reality is that there was a build up to that crisis. Prior to the events that took place in the fall of 2008, a mortgage market crisis was building in the form of increasing foreclosures. Read More
Mortgages are thought to be home loans used to finance the purchase of a home. The word mortgage has become a generic term used to refer to a loan secured by real property because most mortgages occur as a condition for new loan money. Read More
Getting a home appraisal is always an important part of buying a home and a requirement for getting a mortgage. Major changes have taken place during the last decade to the way appraisals are ordered and performed. Read More
When you buy a home with a mortgage, the lender is on the hook. A financial institutions lets you borrow money to make a huge purchase, fronting the money so that you don’t have to. Read More
For many consumers, homeownership is still an important financial and life milestone. Buying a home, however, requires a great deal of capital. Most of us can’t pay for a home in cash. Read More
When it comes to events that can have a negative impact on your credit situation, a foreclosure is near the top of the list. As a result, many homeowners faced with the possibility of foreclosure are interested in finding ways around the foreclosure. Read More
The average mortgage payment is often one of your biggest expenses, consuming more than 30% of your monthly household income depending on your debt to income ratio. Read More
It’s a popular belief today that the U.S. Government directly controls mortgage rates by simply raising and lowering them at will. In reality, it’s a lot more complicated. Read More
Since the housing crisis of 2008, the phrase “subprime loan” has become the moral equivalent of a four-letter word, an indication of all that goes wrong when risky, irresponsible home loans for bad credit become commonplace. Read More
The Federal Reserve System is the central banking system of the United States and was created in 1913 with the enactment of the Federal Reserve Act. Over the past century, its roles and duties have expanded. Read More
