Mortgage

Can bankruptcy eliminate post-foreclosure debt? Yes, both Chapter 7 and Chapter 13 bankruptcy can discharge or restructure mortgage deficiency debt. Chapter 7 offers quick relief by wiping out unsecured debts, including deficiencies, typically within months. Chapter 13 provides a 3-5 year repayment plan, after which remaining qualifying debt is discharged. Choosing bankruptcy depends on your […]

  Are you eligible for a VA loan but unsure where to begin? Whether you’re a first-time homebuyer, a seasoned real estate investor, or a professional helping military clients, understanding the VA loan process from start to finish is crucial. The VA loan is one of the most powerful tools available to military service members,

Mortgage laws differ by state: Lien Theory states (e.g., FL, TX) see the borrower holding legal title, with the lender having a lien. Title Theory states (e.g., CA, AZ) have a trustee holding legal title until the loan is paid. Understanding how defeasance clauses operate differently in lien vs. title theory states is key; in

To accelerate mortgage payoff, consider curtailment or refinancing. Curtailment means making extra principal payments, significantly reducing total interest and shortening the loan term without fees—showing how simple curtailment strategies reduce your mortgage fast. Refinancing replaces your loan, usually for a lower rate, potentially reducing monthly payments but incurring closing costs. Choose based on your current

Mortgage rates are primarily shaped by inflation, Federal Reserve policy, employment data, and the 10-year Treasury yield. Understanding how today’s market influences mortgage choices is crucial; for instance, high inflation typically raises rates, while strong employment might signal further hikes. This economic interplay dictates affordability and strategy for homebuyers and investors alike, emphasizing the need

Once you’re Clear to Close on your mortgage, preparing for closing day is essential to avoid delays. This buyer’s checklist covers everything from reviewing your Closing Disclosure and final walkthrough to confirming funds and bringing proper ID. Even after Clear to Close, issues like wire errors or missing documents can arise. Follow this step-by-step guide

Title insurance, a one-time premium at closing, protects property buyers and lenders from financial loss due to past title defects like liens, forgery, or unknown heirs. Unlike other insurance, it covers historical risks, ensuring clear ownership. While an additional cost, its value becomes evident when considering potential expenses from uncovered claims, which can be substantial

Lenders use Automated Valuation Models (AVMs) during the mortgage process to quickly estimate property value, helping determine pre-approval amounts and loan limits through Loan-to-Value (LTV) calculations. how lenders use AVMs during the mortgage process AVMs offer speed and cost efficiency but may lack accuracy for unique properties, impacting your mortgage eligibility. Understanding how AVMs influence

Scaling your rental portfolio with a blanket mortgage simplifies financing by consolidating multiple properties under one loan, ideal for investors buying or refinancing several units. This approach reduces closing costs and streamlines management with a single payment. A crucial “partial release clause” allows selling individual properties without refinancing the entire portfolio, making it a strategic

The Closing Disclosure outlines final loan terms and costs, serving as your last chance to review everything before signing. Understanding this document is critical, especially in the key steps between Clear to Close and closing day—when you verify loan details, confirm cash to close, and catch last-minute changes. Reviewing it carefully ensures you’re not surprised