What happens to your mortgage if you should pass away before it's paid off? While it's not a pleasant thing to contemplate, it is something you should plan for if you want the property or its equity to pass to your heirs trouble-free.
Applying for a mortgage can be an intimidating process, particularly for first-time homebuyers.It doesn't help that there's a lot of conventional wisdom out there that is either misleading or flat-out wrong.
Young buyers often rely on family assistance in raising the money for a down payment on their first home.Until recently, though, they still had to come up with a big chunk of their own dough in order to qualify for a conventional loan.
New mortgage rules taking effect next month won't change anything on homeowner's current mortgages and it won't prevent borrowers from taking out home loans with debt-to-income ratios above 43 percent, despite widespread claims to the contrary.
What's the difference between getting prequalified and preapproved for a mortgage? If you're planning to buy a home, you may have been told you should do one or the other, but be aware that they are not the same thing.
Mortgage borrowers will be getting simplified and more streamlined disclosures spelling out the terms of their loans, now that the new forms have been finalized by the Consumer Financial Protection Bureau (CFPB).
Mortgage lending for home purchases is expected to increase by 9 percent next year, but overall lending is still expected to be down by nearly a third due to a continuing decline in refinance activity.
Housing and mortgage industry trade groups are banding together to press the Federal Housing Finance Agency (FHFA) to hold off on its plans to reduce the size of mortgages that can be approved by Fannie Mae and Freddie Mac.