Defaulting on your home loan and having to foreclose your property can be really painful. But at times, walking away from your home is the best, and only, solution you are left with. But foreclosure is not the end of the world. Moreover, you are not
Lenders realize that borrowers are more likely to default on mortgage payments on their second home loan. That’s the reason getting a second mortgage loan approved is always tricky and harder than the first one. But once the lender is convinced that you can afford
If tabloids are to be believed, the much-awaited U.S. housing recovery is on its way. In order to find out how truthful the media reports are, we took a closer examination of the optimistic recovery figures and came out with a detailed report. This report
After all those years, John and Natalie finally found their dream home. They couldn’t wait anymore to move in, so they applied for a mortgage the very next day. But they discovered that they are short of one important document before the mortgage gets approved
A person feels most loved and cared in his sweet abode. But have you ever thought that your home needs care too. Future is uncertain. A home is ever vulnerable to natural and man-made disasters. In case, a misfortune strikes leading to damage or destruction
Homebuying can be a daunting task not only because it involves such complex decisions, but also because there’s a lot of misinformation circulating about mortgages. Such myths and misconceptions impede potential homebuyers in their decision making process. Even the most knowledgeable homebuyers give in to
Home ownership continues to be at the top of an average American’s wish list. However, for most of the American families, owning a home is more of a dream than reality, the biggest barrier being the need to pay a hefty down payment at the
Of late, the U.S. housing market has been quite unfavorable to the interests of homebuyers. One of the key symptoms of the unhealthy U.S. housing market is the surging rate of foreclosures. According to housing experts, mounting non-mortgage debt and stagnant wages are the key
4506-T form is filled when an individual or a business needs a transcript of tax return for past years from the Internal Revenue Service (IRS). One can request the transcript to be sent to himself/herself or to a third party. Form 4506-T can be easily
U.S. housing market is witnessing a fall in the mortgage rate consecutively for 6 weeks. Now when interest rates are at a new low, foreclosure home inventory is surging like never before. As per foreclosure report of RealtyTrac for Jan’14, 1 in every 1,058 homes