What Your Lender Needs to Know (and what not to do during the home buying process)

When you are buying a home the first thing you need to do is get pre-approved. This is different from pre-qualifying as it is a full loan approval instead of simply an opinion letter of your creditworthiness. Its is best that you take this step before looking at homes as finding out what you qualify for will help you look in the right price range and avoid disappointment. On the flip side, you might be able to look at more expensive homes than you originally thought possible. Continue reading “What Your Lender Needs to Know (and what not to do during the home buying process)”

$26 billion Foreclosure Settlement Could Mean Relief for Underwater Homeowners

If you are underwater on your home or were foreclosed upon between 2008 and 2011 there could be some relief coming your way according to an article from CNNMoney today. Federal and state officials have agreed to a $26 billion settlement of potential state charges of home seizures made without required paperwork and improper foreclosure practices based on robosigning by the five largest lenders in the country – Bank of America, JP Morgan Chase, Citigroup, Wells Fargo and Ally Financial. Continue reading “$26 billion Foreclosure Settlement Could Mean Relief for Underwater Homeowners”