By Janet Howard Recent surveys show that a significant number of Americans are unprepared to handle an unexpected bill of $500. As many as 80% of Americans live paycheck to paycheck. A sudden job loss, illness or accident can create financial chaos. For anyone paying off a home mortgage, foreclosure and the impending loss of…
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Types of Mortgages & Home Buying FAQs
Buying a home is a big investment. For most of us, it’s the biggest loan we’ll have in our lives. The Consumer Financial Protection Bureau discusses the different types of loans, many of which are available through private lenders and partially guaranteed by different federal programs, thus offering benefits for people who qualify. Talk with…
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Buyers May Want to Ask Lenders: How Long to Close?
House hunters may want to ask their lenders how long it will take them to close on a loan while shopping for a mortgage. In a housing market where multiple offer situations have become commonplace, the ability for a buyer to close quickly can stand out to home sellers. Buyers should ask lenders: How long…
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When to Refinance
The advertisements and phone calls sound great — get a lower interest rate and save as much as hundreds of dollars a month on your mortgage payments. But is it too good to be true? The answer: It depends. Unfortunately, your decision should be based on a complicated mix of how much of a lower…
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