Mortgage

For Buyers, Credit Matters—but How Much?

May 20th, 2018
Borrowers not as creditworthy as others often have higher mortgage payments; in fact, according to an analysis recently released by Zillow, the average borrower categorized with credit as “fair” can be on the hook for $21,000 more than a borrower...

Dodd-Frank Reform Could Make It Easier to Get a Mortgage

June 2nd, 2018
(TNS)—It should be easier for you to get a mortgage now that President Donald Trump has signed legislation that will lift lending restrictions on community banks. Congress on Tuesday voted in favor of rolling back Dodd-Frank banking rules, and Trump...

Fraud and Misrepresentation Still a Challenge in Home Loan Applications

June 9th, 2018
Depending on the financial situation of a buyer, the lending process—as well as underwriting—can be a lengthy one. While underwriting is a thorough practice that carefully assesses a buyer’s ability to repay a large sum of money, loan applications are...

Why Your Mortgage Is Getting More Expensive

February 21st, 2018
(TNS)—World events are conspiring to make it more expensive for you to borrow money to buy a house. Mortgage rates have increased for five consecutive weeks, according to Bankrate data, bringing interest on a 30-year fixed rate loan to 4.44...

Homeowners Spend Less, Renters Spend More

December 3rd, 2017
Incomes are not keeping pace with rents. More earnings are needed for rent than in years past—now 29.1 percent of the median monthly income, versus the 25.8 percent needed prior to the recession, according to an analysis recently released by...

Crowdfunding Your Way Into a Home

October 9th, 2017
Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com: Great Spaces: Living Luxe in Beautiful Bradenton Survey: Broker Operations and Technology Relaxation Awaits: 2018 Best Places to Retire Crowdfunding has appeared...

Crushed by Rent, Homeownership More Out of Reach for Minorities: Report

April 3rd, 2017
Rent has become a sizable expense for many households, but more so in minority communities, according to a recently released analysis by Zillow. Renters in minority communities, in effect, are having a harder time saving for a down payment on...

Expanded Data Key to Opening Up Mortgage Credit

January 12th, 2017
Trended credit data, which offers an expanded perspective to lenders evaluating a credit applicant, could be key to opening up mortgage credit accessibility, according to an analysis by Equifax, one of the three major credit reporting bureaus. The analysis found...

Zillow: Underwater Homeowners Continue Drop-Off

December 19th, 2016
Eleven percent of homeowners are underwater, or owe more on their mortgages than their homes are worth, according to Zillow®’s third quarter Negative Equity Report—a figure that continues to gradually decline as the market moves in on recovery. “As the...

New Fannie, Freddie Program Offers Relief to Delinquent Borrowers

December 19th, 2016
A new program offered by Fannie Mae and Freddie Mac will provide delinquent borrowers relief through a 20 percent mortgage payment reduction, the enterprises recently announced. The program, the Flex Modification, available by or on Oct. 1, 2017, is open...

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