Month: February 2017

How to Do a Property Record Search

Choosing a home to buy entails much research on your property of interest. True, the MLS data can provide you enough information you need, but it doesn’t hurt to extend your search and look for the property’s mortgage records. Although not necessary, scouring for further information may lead you to discover certain aspects of the property that can affect how you write your purchase contract. WHAT TYPE OF INFORMATION CAN YOU FIND IN A PUBLIC MORTGAGE RECORD? The public record of the property can tell you how many times the house or property has been withdrawn from the market and put...

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Can You Refinance Your Home While in Chapter 13 Bankruptcy?

Filing for Chapter 13 Bankruptcy does not mean that you are ineligible for new credit. This form of bankruptcy allows you to keep personal property and even the debts you have. The program simply restructures the debts so that you can pay them off within the next 3 to 5 years. There are a few loan programs you can apply for a few years after filing for Chapter 13 bankruptcy, but FHA loans only require that you wait 12 months before applying. ARE YOUR PAYMENTS ON TIME? You probably already know that your mortgage payment history plays a vital...

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Should you Pay off a Car Before Applying for a Mortgage?

Many people think that it is beneficial to pay off a car loan before applying for a mortgage. In reality, this could be a bad idea and actually cause you to lose your mortgage approval. The logic behind this theory might seem a bit strange, as it seems to be common sense to pay off a loan and have fewer outstanding debts when you apply for a mortgage, but that auto loan does more for your credit than you may realize. THE NEED FOR LONG-TERM CREDIT When you apply for a mortgage, lenders are looking for long-term credit on your credit report....

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How to Solve the Most Common Refinancing Hurdles

The new mortgage rate trend that followed last week’s phenomenal hike breaking Brexit’s 11-week low rate streak may have sent many buyers locking in on rates before the new trend gets comfortable in its new course. For those who are considering refinancing, the time may be ripe to get started with your refinancing journey. But how ready are you to undertake the whole remortgage process? This article discusses the most common challenges you might encounter when in the initial process of refinancing your home or property. We also included some tips on how you can overcome them in honest, smart, and...

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