The Ultimate Guide To FHA Streamline Refinance
If you’re looking to refinance your existing FHA loan, then you may want to consider an FHA Streamline. The FHA Streamline Refinance program helps borrowers refinance their current FHA loan more quickly and at a lower rate. It’ll also save you from having...
How the LESA Can Benefit Reverse Mortgage Clients
A Life Expectancy Set Aside, or LESA, is a government-implemented guideline that requires some reverse mortgage borrowers to put aside a portion of their reverse mortgage proceeds to pay for their property taxes and homeowners insurance for a certain amount of time....
Can I Prepay My Reverse Mortgage?
Most seniors who receive a Home Equity Conversion Mortgage (HECM) intend to make payments only when the loan comes due. After all, one of the primary benefits of a HECM (more commonly referred to as a reverse mortgage) is that you don’t need to start making payments...
What to Do After Closing a Reverse Mortgage
One of the stipulations in a reverse mortgage agreement is that the borrower is responsible for home upkeep, and to maintain the home at acceptable levels. To ensure this obligation is met, lenders do an initial inspection before the loan is signed to establish that...
Making Monthly Payments on a Reverse Mortgage
The reverse mortgage has plenty of perks that distinguish it from an ordinary loan. While many borrowers appreciate the fact that it is a non-recourse loan that does not require monthly payments, some borrowers still choose to make monthly contributions. Whatever they...
How Reverse Mortgages Affect Medicaid and Medicare
Because a reverse mortgage allows you access to home equity, your income can improve dramatically. Increased income, however, can have an impact on government sponsored programs, specifically Medicaid and Medicare. First the good news–taking out a reverse mortgage...
Special Needs Seniors – Planning for the Future of this Vulnerable Population
Some senior adults need a bit of help and care, but when a senior has a special need, the level of care increases significantly. With the right resources, you can create a plan of care that will ensure your loved one’s needs – from healthcare through financial – are...
OpenRoad Lending Review: Everything You Should Know
Are you looking to cut a bit of expense out of your life? Are you looking into auto refinance loans? You’re in luck! LowerMyBills takes a look at the industry of auto refinancing loans, to provide information on getting you the refinancing you need. Today we...
The Ultimate Guide To FHA Streamline Refinance
If you’re looking to refinance your existing FHA loan, then you may want to consider an FHA Streamline. The FHA Streamline Refinance program helps borrowers refinance their current FHA loan more quickly and at a lower rate. It’ll also save you from having...
What is a High LTV Refinance Option?
The dream of homeownership creates a sense of pride, builds equity, and increases personal wealth for many. However, if you have an underwater home, it can be difficult to refinance to a lower rate.Thankfully, some programs offer a high LTV refinance option so you can...
Quicken Loans: Everything You Need To Know
In 2017, 37% of homeowners in the United States had no mortgage to pay. However, this still leaves 63% of homeowners who still owe money on their house; this might include you. As you’re looking to either purchase a home or refinance, you may have come across...
Refinancing 101: Are Refinance Costs Tax Deductible?
Who couldn’t use some extra cash? Refinancing your home is one of several smart ways to save money. You could end up with a lower monthly payment or pay less for your home in the long run. You may even be able to deduct some of your refinance expenses. At...
How Long Does It Take To Refinance a House?
Now is a good time to consider refinancing your house. With mortgage rates hitting all-time lows, there are some real bargains to be had that could save you a significant amount of money. If you’re considering refinancing your home, you may be wondering how...
What is the VA IRRRL Program?
Are you a veteran with an existing VA-backed home loan? If so, you might be able to reduce your monthly mortgage payments or make your payments more stable by using an IRRRL or interest rate reduction refinance loan. This option for refinancing will let you...
Should You Take Cash Out For Home Improvements?
Home improvements are a great way to add value to your house, but they don’t come cheap. In fact, the average homeowner spends about $9,000 on those projects, but depending on what you’re tackling, that number could be much higher. Finding ways to pay for those...
Refinance Appraisals 101: Everything You Should Know
If you’re looking for ways to save on your monthly mortgage payments, refinancing can help. Many homeowners choose to refinance every year, and getting an appraisal is a crucial part of the process. Read on to learn more about refinance appraisals and what they...
Understanding a HECM for a Home Purchase
The Home Equity Conversion Mortgage – a type of reverse mortgage – is a financial tool that allows you to convert a portion of your home equity into money that can be used however and whenever you like. Three popular versions of the HECM include HECM Fixed, HECM...
Quicken Loans: Everything You Need To Know
In 2017, 37% of homeowners in the United States had no mortgage to pay. However, this still leaves 63% of homeowners who still owe money on their house; this might include you. As you’re looking to either purchase a home or refinance, you may have come across...
How to Buy A House For Sale By Owner
If you’re shopping for a new home, you’ve probably seen countless listings online and in your local newspaper as you search for the perfect purchase price. To save money, you may consider buying a home that’s listed as for sale by owner (FSBO)....
Mortgage Points: Pros And Cons Of Paying Them
How to Get a Pre Approval Mortgage (Fast!)
When you’re ready to buy a house, a lot of planning must take place to help you have the best home buying experience! Whether your timeline for a new home is within one year or you need to make a quick move, several things must happen to get the keys to your new...
What Credit Score Do You Need To Buy A House?
Are you hoping to make this the year you become a homeowner? With mortgage rates at historical lows, it might seem like the perfect time to take the plunge into homeownership. But with rates so low and the market so volatile, banks are getting more and more...
What Is Private Mortgage Insurance, Anyway?
The average house stays on the market for just 68 days, and that means you need to be ready to make an offer as soon as you find the home of your dreams. Before you can make that offer, you need to qualify for a mortgage. In most cases, that means making a down...
How To Lower Your Home Buying Stress
The difference between imagining yourself in your new home and actually going through the steps of buying the house are images that don’t often align. Living in a new home, putting down roots, and making memories sounds idyllic. The home buying process can be anything...
7 Places To Cash A Check Near Me
In today’s technology-driven world most people pay for things using a credit card or a debit card. Sometimes, people will even go old school and use cash. But there are those situations that get really, really, old school and someone pays you with a paper...
Top Flite Financial: The Ultimate Review
Are you looking to refinance your home? Perhaps you’re considering a mortgage. However, you may not have great credit. Many are in the same situation, but many lenders will work with applicants of all financial backgrounds. Top Flite Financial has a solid...
Top Ways To Cut Cost On A Kitchen Remodel
The kitchen is the most-used room in your home. This means it should be comfortable and convenient. If it’s not, you might want to consider making some changes (that will more than pay for themselves in the long run). But how much does the average kitchen...
What Are Debt Relief Programs And How Do They Work?
Research shows that consumers hold a collective $14 trillion in debt. Are you included in that statistic? If so, it’s easy to become overwhelmed by your obligations. Many different kinds of debt can threaten your financial stability, from credit cards to...
12 Credit Card Companies Offering Financial Relief
The month of March brought a load of unanticipated turmoil to the United States with a record of 6.6 million Americans filing for unemployment benefits due to the spread of COVID-19. Even with a lot of budgeting and saving, it may be difficult to recover from the...
What to Do If You Can’t Pay Your Utility Bills
In recent weeks, families around the world have been thrown into a new normal. For many, this time has also introduced a new season of financial hardship. Maybe your hours were reduced to part-time as your company works through these unsettling times. Or, perhaps you...
60-Day Foreclosure Moratorium: What To Know
If you’re struggling to keep your head above water because of COVID-19, you can breathe a sigh of relief. The federal government issued a foreclosure moratorium in March 2020 to help everyone affected by COVID-19. HUD Secretary Ben Carson will oversee the new...
Buy Low, Sell High: What You Need To Know
Tales of investors getting rich by buying low and selling high on the stock market don’t always tell the full story. During the Dotcom boom in the early 1990s, stock traders made millions from tech companies by ‘getting in early.’ Others lost money...