MichelePetry

HOA fees directly impact condo loan approval by increasing your monthly debt-to-income ratio, potentially reducing how much you can borrow or leading to denial. Lenders also scrutinize the HOA’s financial health, pending lawsuits, delinquency rates, and owner-occupancy ratio as indicators of risk. High HOA fees can signal instability, how HOA fees affect condo loan approval […]

Title insurance is crucial real estate protection, difference between title search and title insurance significantly from a title search. A title search meticulously examines public records to identify existing issues. However, title insurance safeguards against undiscovered or future problems like errors, unknown heirs, fraud, and liens that a title search might miss. This one-time fee

Refinance after forbearance is a topic that’s keeping a lot of homeowners up at night. Yes, you can often refinance after mortgage forbearance, but it’s not automatic. Lenders typically require borrowers to exit forbearance and make a certain number of on-time payments (often three) before becoming eligible to refinance. The specific rules can vary depending

Let’s get this straight—buying a home doesn’t always mean you control every inch of your land. If you’re asking, “Why can’t I build a garage there?” or “Why is the city mowing part of my backyard?”—you’re dealing with easements. How easements can affect home renovations and landscaping plans is one of the most overlooked aspects

Seller concessions—when a seller covers some of your closing costs—can significantly lower your homebuying costs if timed right. They’re most effective when a home’s been on the market a while, issues show up in inspection, or it’s a buyer’s market. Rather than cutting the price, sellers often prefer concessions, making it a smart strategy for

After mortgage forbearance ends, you must resume full payments and address any missed ones—ignoring it can hurt your credit or lead to foreclosure. Most lenders offer options like repayment plans, deferrals, or loan modifications. Understanding what happens after mortgage forbearance ends and contacting your loan servicer early is key to staying on track and protecting

To boost your chances of mortgage approval, focus on improving your credit score—especially if it’s below 620. Steps include paying down balances, disputing errors, becoming an authorized user, and using tools like Experian Boost. Since most lenders want a credit score of 620+, targeting that benchmark can significantly impact your loan terms and approval odds.

Appraisal gaps are one of those things that sucker punch homebuyers right in the face. You find the home, make a solid offer, it gets accepted—you’re riding high. Then boom…the appraisal comes in low. Now your lender’s like, “Hey, we’re not covering the full offer price, because the bank says the house isn’t worth it.”

Before buying a home, always check title reports and surveys for easements. Easements give others legal access to part of your property and can limit your ability to build, fence, or landscape. Overlooking them can lead to costly surprises like lost property use or legal disputes. Reviewing title and survey documents ensures you understand who

Mortgage forbearance offers short-term relief by pausing payments, but missed payments still need repaying—potentially impacting credit. Loan modification, on the other hand, permanently adjusts your loan terms for long-term affordability. The pros and cons of mortgage forbearance include immediate breathing room but delayed financial pressure. Loan modification takes longer but can prevent foreclosure. Choosing depends