There are a lot of alarming statistics out there about foreclosures. But when you understand what a foreclosure is and how it works, it takes some of the fear out of the unknown. To break it down to its bare bones, a mortgage foreclosure happens when a lender exercises its lien against a ... » Learn More about Foreclosures Explained
Finance
When is it Time to Refinance?
Like all things, refinancing has its . First of all, trying to predict the best time to refinance is like trying to predict a teenager’s moods — impossible and slightly dangerous. But there are some gauges you can use to decide if refinancing makes sense for you. Refinancing 101 There are ... » Learn More about When is it Time to Refinance?
Debt-to-income Ratios
When you’re ready to buy a house, a lot of jargon is thrown around. One term you’ll hear a lot is debt-to-income ratios. If you’re not a math wizard, such lingo can sound intimidating, but it doesn’t need to. Debt-to-income ratios are simple to figure and use to your advantage, even giving you the ... » Learn More about Debt-to-income Ratios
Closing Costs Explained…
Are you interested in buying a home and are terrified about all the "hidden" costs associated with buying a house and obtaining a mortgage? Fear not, Amber G is here! Here is the best possible breakdown I can provide for you: Non-Recurring Closing Costs Associated with the Lender (Your lender ... » Learn More about Closing Costs Explained…
The HUD-1 Explained
Sections A-I: Lender’s name and address, settlement agent info, buyer’s loan type, settlement date and property address. Section L: Settlement Charges Section 700: Agency Commissions Section 900: Items Required by Lender to be Paid in Advance l Line 902: mortgage insurance premiums due at ... » Learn More about The HUD-1 Explained