Recent Questions / Latest mortgage and renting questions

Buying a home after bankruptcy

The desired result from a bankruptcy proceeding is to have all or at least some of your personal debt forgiven which is formally known as discharged. Chapter 7 allows discharge ...
Read More

How do real estate agents get paid?

Commission is king for real estate sales agents! Depending on your career, you may not understand what it means to work on commission so let me please explain. Spend money ...
Read More

What is a real estate broker?

Real estate brokers are real estate agents that have decided to prove to their state of licensing that they have the educational "chops" to self-manage (as opposed to reporting to ...
Read More







First-Time Home Buyer / Information that first-time home buyers need to know

Do mortgage interest rates change from city to city?

Interest rates can differ from city to city and from state to state. Although national mortgage rates follow U.S. bond rates, local factors can play a part. For example, in ...
Read More

Can I skip a mortgage payment?

Your lender may make you an offer allowing you to skip a mortgage payment. Just like deferring a car loan payment, you aren’t really saving any money. You’ll pay additional ...
Read More

How Credit Score Affects Down Payment?

If your credit score is high enough to qualify you for a home loan, you deserve congratulations. You've just passed the biggest hurdle to being a homeowner. Lenders aren't done ...
Read More
Buying Process / Process of buying a house and mortgage terms
Photo - Two people talking about private mortgage insurance

What is Private Mortgage Insurance (PMI)?

©Jacob Lund/Fotolia Private mortgage insurance, also called PMI, is a type of insurance that private lenders require you to pay. You can avoid paying PMI by making a down payment ...
Read More

What are the cons associated with a VA loan versus a conventional loan?

If you qualify for and decide to take out a VA loan because of its flexible benefits, you should also be aware of this product's downsides. You must pay a ...
Read More

Why would someone use a big bank and not a credit union to apply for a mortgage?

While it’s true that credit unions may not charge origination fees and other costs associated with bank mortgages, credit unions aren’t open to everyone. It’s not hard to join a ...
Read More







Selling / Related to selling your home

Do I have to inform the mortgage lender if I want to sell my home?

You don’t have to tell your mortgage provider that you plan to sell, but you do have to settle your outstanding loan when the home is sold. You might want ...
Read More

How much would I have to pay in taxes if I sell my home for a profit?

If you’ve lived in the house as your primary residence for at least two of the past five years, you won’t owe taxes on the sale. The federal government allows ...
Read More

What is a mortgage short sale?

A mortgage short sale occurs when the homeowner sells the dwelling for less than the remaining mortgage balance. It’s also known as a pre-foreclosure sale and it’s a foreclosure alternative ...
Read More
Renting / Roommates, managing rentals, and understand rental terms

Is rental insurance worth it?

Rental insurance is absolutely worth it. It’s not expensive for tenants, and protects your possessions in case of a fire, burglary or other misfortune. Your landlord’s property insurance does not ...
Read More

Things about a lease-to-own contract you may not know?

When you enter a rent-to-own or a lease-to-own situation, you're renting a house with the intention of buying it someday. Other terms are lease-option or lease-purchase. Lease options means you ...
Read More

How to prepare to rent out a room for extra income?

You should first prepare your house by putting locks on all bedroom doors, keeping your valuables in a safe, and fixing pesky appliances. Then, look at Craigslist or other ads ...
Read More







Refinancing / Related to refinancing a mortgage

What is a second mortgage?

A second mortgage is just that – another mortgage taken out on a property which already has a mortgage. With a second mortgage, you are borrowing on the equity in ...
Read More

What is a piggyback mortgage?

A piggyback mortgage refers to a second mortgage taken out on a property at the same time as a primary mortgage or refinancing. Generally, the primary mortgage makes up 80 ...
Read More

What is a reverse mortgage?

Instead of paying the bank a mortgage payment each month, with a reverse mortgage, the bank pays you. But there are some strings attached. You must be 62 or older ...
Read More

What is a piggyback mortgage?

A piggyback mortgage refers to a second mortgage taken out on a property at the same time as a primary mortgage or refinancing. Generally, the primary mortgage makes up 80 ...
Read More

Do mortgage interest rates change from city to city?

Interest rates can differ from city to city and from state to state. Although national mortgage rates follow U.S. bond rates, local factors can play a part. For example, in ...
Read More

What is a mortgage balloon loan?

A balloon loan mortgage has a fixed rate, but unlike conventional 30 year mortgages, a balloon mortgage usually lasts just five to seven years. When the loan term expires, the ...
Read More
Loading...