As we grow older, we need to buy things and properties that will be useful to our daily lives. Some of the most significant investments we make are in houses and cars. Compared to a home, a car may not seem like too significant of a purchase, but it still costs a great deal of…
When you apply for a mortgage loan, the lender will look at your debts and income to see if you qualify. You will be required to declare all current sources of income, including salary, business income, investment income, and other sources of income. You must also report any debts that you are currently paying. The…
Mortgage forbearance is a temporary financial relief that allows homeowners to remain in their homes while deferring their monthly mortgage payments until they can get back on their feet financially. For many borrowers, forbearance is a viable option that can help them avoid going into default and facing foreclosure. It is unmistakably a compassionate concept…
The need to secure a loan to purchase a home is a given for most home buyers. While waiting for a mortgage approval might be stressful, you will usually feel a sense of relief after the approval has been granted. But can a mortgage be revoked after funding? In some situations, it seems that it’s…
Borrowers who have served in the military are eligible for VA loans. One significant benefit of a VA loan is that you can purchase a home without making a down payment. Despite this, there is no guarantee that you will be able to close the transaction if you have no cash in the bank. Your…