Credit.org is approved by the U.S. Department of Housing and Urban Development (HUD) as a comprehensive housing counseling agency. We help home buyers prepare to become better educated and informed…
Posts Categorized: Homeownership
Homeownership is still a major part of achieving the American Dream. I should know: I bought my first home with my husband two years ago, at age 28. So why…
Exploring the different types of home mortgage loans available will present you with a wide array of products, terms and options. There are important differences to understand and consider in…
A lack of knowledge about the home buying process is one barrier people often encounter. Another large barrier is on the topic of debt. Debt affects every other step of…
It’s tough to sort out the myths from reality when it comes to homeownership. In a given search online, you can find opposing viewpoints making directly contradictory arguments. We’re going…
For most Americans, owning your own home is a dream that can come true. At credit.org, we’ve always advocated that homeownership should be part of your long-term financial plan, helping…
You’ve finally done it! For years you’ve been saving money and keeping your credit record clean, waiting for the right moment to start looking at houses. And now you’ve got enough…
We believe in our goal of making homeowners smarter; one key to preserving homeownership in the long run is to prepare properly in the beginning. That’s a big part of…
From the last mortgage crisis that began in 2008, many government programs were created to help struggling homeowners. Unfortunately, there are also scam artists trying to take advantage of people…
Whether you are requesting a loan modification or a short sale, your lender will most likely ask you to submit a hardship letter. The purpose of the letter is to describe, in the homeowner’s own words, why the homeowner is not or may not be able to make his or her mortgage payments. A key thing to remember is that it is important that you include actual reasons for the hardship and any plans you have for the future.
If you are facing financial difficulties and are seeking to renegotiate your mortgage, you will have to write a hardship letter. This letter explains your situation to your lender so they will fully understand why you are unable to make your mortgage payments as agreed.
We have often suggested renting out space in one’s home as a strategy for increasing income and cutting housing expenses. Naturally, this is much easier said than done, so we’ve been offering some posts about what goes into renting out part of your house.
Here are some important Dos and Don’ts when renting out space:
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