June is National Homeownership Month. We’re always focused on helping to create more successful homeowners, all year round, but June is a special month and we’re eager to help. To…
Posts Categorized: Homeownership
What is an FHA loan? A Federal Housing Administration insured loan, known as an FHA loan, is backed by the government. Lender requirements for an FHA loan are less stringent…
Back end ratios are used by banks to make loan decisions. What can you do to improve yours?If you are applying for a loan, your debt-to-income ratios, especially your back-end…
A Home Equity Line Of Credit (HELOC) is a revolving loan borrowed against your home’s equity. That means the amount you owe will vary from month to month, like a…
The Home Affordable Refinance Program (HARP) is now in its 5th year, but many homeowners still have questions about it. The current version of HARP, dubbed HARP 2.0, is set…
A HELOC, or Home Equity Line of Credit, offers certain tax advantages that consumers should take into consideration. The HELOC is not a lump sum loan, but a credit line…
Many people who are struggling to make their mortgage payments will refinance their home loans to get more affordable payments, better interest rates, or to switch from an adjustable to…
HOEPA, or the Home Ownership and Equity Protection Act, protects homeowners when they refinance or get home equity loans. The law attempts to prevent unfair practices from lenders who offer…
HOEPA, or the Home Ownership and Equity Protection Act, is designed to protect homeowners from predatory lenders and scammers who would seek to strip homes of their equity using abusive…
The first time home buyer tax credit was a program that was available for homes purchased as your primary residence between April 2008 and May 2010. Under that federal program,…
A federal program that reduces your mortgage principal if you owe more toward your mortgage than your home is currently worth. Principal Reduction Alternative, or PRA, encourages your mortgage lender…
The US Treasury administers the Hardest Hit Fund (HHF), which provides aid to the states that were most impacted by the economic crisis. The program ended on December 31, 2020….
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