Many mortgage lenders today are breaking out of the mold, reshaping themselves and their strategies to the demands and opportunities of a new lending age. While traditional lending giants still rule the kingdom, these lenders are definitely making a significant disruption, and potentially ushering in a big change for the whole lending industry. Of course, […]
Spot These Common Mortgage Red Flags
According to real estate data firm CoreLogic, one in every 122 mortgage applications in the first two quarters of 2017 contained application fraud. With the Equifax leaks, more homeowners are expected to be vulnerable to mortgage double-dealings. Mortgage fraud is a broad term that can refer to a wide array of activities. These can include […]
Tax Deductions for Your Owner-Occupied Rental Property
As a homeowner, you are entitled to legal tax deductions. These are home-related expenses that can be deducted from your taxable income, and which you can expect to get back in your tax returns. If you are a homeowner, you are typically entitled to the following tax deductions: home mortgage interest payments real estate taxes […]
The Modern American Dilemma: Getting Out of Debt
Do you feel overburdened with debt? While you may find comfort in the fact that you are not alone in this dilemma, it’s also a sobering reality. According to personal finance website ValuePenguin, the average American’s household debt is $5,700. For households that carry credit month to month, the addition of accruing interest rates can […]
Apartment Constructions Cooling Off
After the housing collapse of 2008, the rapid pace of apartment building constructions helped catch the demand from individuals and families most affected by the crisis. It went on for years, and effectively so. But fast forward a decade later, it seems like that rental property engine is starting to cool off. The change is […]
ClosingCorp Identifies Top States with Most Expensive Closing Costs
Aside from the down payment, one of the biggest costs of purchasing a home is the cumulative of fees and charges that need to be paid at closing. Typically, mortgage closing costs sum up to around 2 to 6 percent of the purchase price of the home. What makes up these costs is dependent on […]
Credit Unions to Tighten Mortgage Standards
For mortgage shoppers looking to purchase or refinance their homes through credit unions, you may have to expect tighter lending standards. Per a recent report by the National Association of Federally-Insured Credit Unions, regulatory changes are prompting the industry to adapt tighter standards, potentially eradicating loose lending tactics that created the boost of most of […]
What to Do if Your Loan Application is Denied?
Getting turned down on your mortgage application is no reason to give up. Ask yourself the right questions and see where it went wrong. There are steps to take than might help you finally get a nod on your next try. It’s easy to lose your spirit after your mortgage application gets turned down once. […]
Federal, State Policy Odds Make Housing Difficult for Cannabis Workers
Twenty-nine states and the District of Columbia have already legalized medical marijuana yet the federal government remains adamant in keeping the drug’s illegal status. The continued conflict in policies and legalities is now causing an array of conflicts among businesses, and workers, including the housing and mortgage sector. No to cash Marijuana seems to be […]
Non-Prime is Back
Mortgage lending company Citadel Servicing Corp announced a record-breaking volume of non-prime mortgage originations in the month of August. Per the report released by Mortgage Professional America, the company successfully originated non-prime mortgages to a total of $200 just in August. CSC’s senior vice president Will Fisher said they are “firing on all cylinders, […]