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Why Is My Mortgage Escrow Account Sending Me a Check?
Various factors can lead to fluctuations in these estimated expenses. If the actual costs turn out to be lower than anticipated, your escrow account may end up with an excess balance, resulting in a refund check being sent to you.
How to Save The Most Money When Buying a House
Buying a house is one of the most significant financial decisions in one’s life, and it’s essential to make smart choices to save money during the process. While purchasing a home can be expensive, there are several strategies you can implement to maximize your savings and make the most of your investment.
What’s Ahead For Mortgage Rates This Week – August 14, 2023
Month-to-month inflation rose at a pace of 0.20 percent in July and met analysts’ expectations. There was no change in the pace of month-to-month inflation from June’s reading of 0.20 percent growth. The Consumer Price Index also reported that year-over-year inflation reached 9.10 percent, which was the highest reading since reaching a 40-year high in mid-2022.
How Much Equity Can I Borrow from My House
In general, lenders typically allow you to borrow up to 80% of your home’s equity. For example, if your home is currently valued at $400,000 and you owe $200,000 on your mortgage, you may be able to borrow up to $160,000 (80% of the $200,000 in equity you have in your home).
Will Pre-Approval for a Mortgage Hurt My Credit Score?
To understand how pre-approval affects your credit, we need to discuss credit inquiries. When you apply for credit, such as a loan or credit card, the lender typically pulls your credit report to assess your creditworthiness. These inquiries are categorized as either “hard” or “soft.”
Avoiding Becoming House Poor: A Path to Financial Security and Balance
As the housing market continues to evolve, it becomes increasingly crucial for aspiring homeowners to tread carefully and avoid falling into the trap of being house poor. The dream of owning a home should not come at the expense of financial stability and overall well-being. Here are some essential tips to steer clear of this precarious situation:
Another Problem with Short Sales – The Short Sale Flip.
Title insurance underwriters, concerned about the risk in insuring short sale flips have taken a position of not insuring them. Old Republic Title Insurance announced to it’s agents last month that it would no t authorize the issuance of lender or owner title...
Most Renters Are Paying Far More Than Their Landlord’s Mortgage
It is not uncommon for renters to pay more in rent than their landlord’s mortgage payment. This is because landlords are typically looking to make a profit on their rental properties, and they will often set their rent prices based on market rates rather than the cost of their mortgage.
What’s Ahead For Mortgage Rates This Week – August 7, 2023
Last week’s scheduled economic reporting included readings on construction spending, public and private sector payroll growth, and the national unemployment rate. Weekly readings on mortgage rates and new jobless claims were also released.
Spotting and Preventing Vacant Property Fraud: A Guide for Real Estate Agents
Real estate agents are increasingly becoming targets for vacant property fraud, a rising trend in the industry.These scams often involve fraudsters posing as property owners to exploit the real estate transactions process. As a real estate agent, understanding...