Navigating the world of mortgages can feel like learning a new language. Terms like “prequalified” and “preapproved” may seem interchangeable, but they’re not. Understanding these terms is crucial for anyone looking to secure a mortgage and buy a home. Our guide will demystify these concepts, explaining their meanings, processes, and the key differences between them. […]
Buying Your First House: Here is What You Need to Know About Mortgages
Congratulations! You’re ready to take the leap into homeownership, an exciting journey that begins with understanding mortgages. A mortgage is a loan provided by a lender that helps you to buy a house. You repay this loan, with interest, over a specified period. Let’s dive into how mortgages work, what you need to know before […]
Understanding and Avoiding Mortgage Fraud: Here’s Everything You Need to Know
When it’s your home on the line, you can never be too careful. Mortgage fraud is becoming increasingly more common. You can protect yourself from fraud by understanding the different types, being aware of potential risks, and knowing what to do if you suspect fraudulent activity. Types of Mortgage Fraud This type of fraud comes […]
Will a Loan Modification Ruin My Credit Score During COVID-19?
COVID-19 has turned lives upside down. Families all over the country are struggling as unemployment rises, jobs are gradually resuming operations, and families work to gain a semblance of their previous daily lifestyle. For many, the impact that COVID-19 has had on their lifestyle has been substantial, but ultimately it has taken a toll on […]
That Pile Of Documents Signed When Taking Out A Home Mortgage!
A homeowner sued the Federal Home Loan Mortgage Corporation “Freddie Mac” for breach of contract and breach of fiduciary duty. Freddie Mac had purchased the homeowner’s mortgage from the loan originator on the secondary market. The loan originator continued to service the loan and failed to pay the insurance premium from an escrow account which […]