Thursday, November 19, 2015

Life After Debt

Many American families are finding themselves deeper and deeper in debt. Complicating matters even more, legislation makes it harder to declare bankruptcy, and saddles filers with a greater percentage of their debts to repay. If you, too, find yourself in trouble financially, there are usually no easy answers - but there are some ways out for those willing to commit to changing their spending habits.

Life Without Debt – But How?
Your ability to pay your bills can be affected by situations beyond your control such as serious illness, divorce, or unemployment. Poor financial management can also threaten your economic security. You may be able to juggle your creditors for a time, but eventually you may come to realize you need help in resolving your financial problems.

Thursday, November 12, 2015

More on Mortgages: Understanding the Underwriting Process

Even though it's probably the largest purchase they'll ever make, few consumers take the time to really go "behind the scenes" to more fully understand the complex world of mortgage lending. Learning the terms and working to understand your mortgage can help save you time, money, and a whole lot of headaches.

Qualifying for a Mortgage
Whether you're looking for a first mortgage on a new home, to refinance an existing mortgage, or take out a second mortgage, the interest rate you'll be offered depends on the same factors:

Thursday, November 5, 2015

The Mysteries of Mortgages: Unveiled

With home ownership in the United States now approaching 70% of all households, the chances are good that you've either taken out a mortgage in the past or have one now. However, many homebuyers don't research and act as carefully as one might imagine given the amount of money borrowed and the huge difference even a few basis points (one one-hundredth of a percentage point) can make over a lengthy loan.

Instead, homebuyers often search for the home they want, then apply for a mortgage and hope for the best. A far better approach is to find out how much mortgage you can qualify for, then look at homes you know are in your price range. Known as "prequalification," having this piece of paper in your hand can also set you apart as a serious, committed buyer in hot real estate markets where properties are fetching multiple offers.