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…
Posts Categorized: Homeownership
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….
The Home Affordable Foreclosure Alternatives program (HAFA) was created by the Treasury Department to help homeowners who were in danger of losing their homes to foreclosure. The program offers HAFA…
What is an Adjustable Rate Mortgage? Many homeowners have an ARM, or Adjustable Rate Mortgage. This kind of home loan has an interest rate that changes over time in reaction…
The HAFA program expired in December 2016 and is no longer available. Taking effect on April 5, 2010, the government’s Home Affordable Foreclosure Alternatives (HAFA) program is intended to provide…
How to Stop, Avoid or Survive a Home Mortgage Foreclosure Before You Are Late On Payments You may be current on your payments, but see some red flags — your…
Homeownership comes with many responsibilities. You’ll be obligated to pay more taxes, maintenance and upkeep, insurance, prepare for emergencies, keep financial records, and more. It’s natural for us to constantly…
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