What Is Job Loss Mortgage Insurance & Do I Need It?

What Is Job Loss Mortgage Insurance & Do I Need It?

Life is unpredictable. From illness to divorce to job loss, many factors can take a toll on your income that can leave you struggling to pay your monthly mortgage payments on time. If you have lost your job and are unable to make your monthly mortgage payments, job loss mortgage insurance can help cover those payments until you get another job ...
Strategies In Paying Off Your Mortgage

Strategies In Paying Off Your Mortgage

Whether you have a 15 or 30 year mortgage, the thought of being in debt for that long gives some homeowners a headache. After all, they want their house to be officially theirs. That is why many homeowners look for strategies to pay off their mortgage faster and painlessly. Up Next: Modifying A Loan Due To Financial Hardship With a little financial planning and following the strategies below, you can pay off your mortgage in a timely, stress-free manner: ...
Tips For Effectively Closing That Real Estate Deal

Tips For Effectively Closing That Real Estate Deal

Closing a real estate deal means the home you have yearned and worked for all this time is finally yours. But it’s not as simple as handing over the money and moving in. There are multiple steps that still need to be completed to ensure the closing goes smoothly. Up Next: Is A 15 Or 30 Year Fixed Mortgage Right For Me? Here is what you need to remember to effectively close your real estate deal: ...
What’s The Difference: Home Equity Line Of Credit Verses Home Equity Loan

What’s The Difference: Home Equity Line Of Credit Verses Home Equity Loan

Owning a home is a big expense—especially when it comes to maintaining the home and improving its value. Up Next: Preparing A Homeownership Budget When you need to borrow money for an emergency like flooding, there are two options you may consider: a home equity line of credit or a home equity loan. While similar in premise, these two options have several differences that you will need to take into consideration: ...
Modifying A Loan Due To Financial Hardship

Modifying A Loan Due To Financial Hardship

Death in the family, illness, loss of a job, or divorce can take a great toll on our daily lives and finances. If tragedy strikes and you are unable to afford your monthly mortgage payments and find yourself falling behind, you may be able to modify your home loan to catch up and avoid foreclosure. Up Next: Boomerang Buyer? Do This Before You Purchase A Home A loan modification is a permanent restructuring of your original loan to provide you ...
Know The Difference: Mortgage Banker Verses Mortgage Broker

Know The Difference: Mortgage Banker Verses Mortgage Broker

The time has come for you get find a lender for your mortgage. In your research, you may have come across two terms: mortgage bankers and mortgage brokers. What is the difference between these two entities and which is right for you? How do they help you? Up Next: Selecting The Best Mortgage Company In Kansas City When choosing a lender for your home mortgage, it is essential to not go with the first banker or lender you come across ...
Is A 15 or 30 Year Fixed Mortgage Right For Me?

Is A 15 or 30 Year Fixed Mortgage Right For Me?

You have applied for a mortgage and are now faced with a question: Should you get a 15 year mortgage or a 30 year one? How are they different and what benefits would they have for you? Up Next: Getting A Mortgage When Self-Employed Each length of mortgage has its own pros and cons that are dependent on your current circumstances, like where you are in your life and your finances. Here is what you need to know about the ...
What Is Home Equity Line Of Credit & Will It Benefit Me?

What Is Home Equity Line Of Credit & Will It Benefit Me?

If you need money to fund a home improvement project or have experienced an expensive medical emergency, you may have heard other homeowners talk about taking out a home equity line of credit. But what is it and how would it help you, if at all? HELOC Acts Much Like A Credit Card A home equity line of credit (HELOC) is a type of loan that essentially “turns your home into cash”. That amount you borrow can be accessed at ...
Pitfalls To Avoid When Getting A Home Loan

Pitfalls To Avoid When Getting A Home Loan

Beginning the process of purchasing a home is an exciting time. You are ready to invest in one of the biggest purchases of your life and settle down in a place of your own. Congratulations! Before you plunge into the waters of homeownership, there are several pitfalls you should be aware of and know how to avoid to make the process less stressful for you: Going Through The Process On Your Own How hard can buying a home be? You ...
How To Build Home Equity

How To Build Home Equity

As a homeowner (or soon-to-be homeowner), you most likely hear this phrase a lot, “Build up that home equity!” But why build it up in the first place? Home equity is an important financial resource for you that you can take advantage of at a later date. Home equity is the amount of the home’s value that you officially own, so that value can go towards a variety of things like: Purchasing a new home Using it in a reverse ...
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The information provided herein has been prepared by a third party company and has been distributed for education purposes only. The positions, strategies or opinions of the author do not necessarily represent the positions, strategies or opinions of Guild Mortgage Company or its affiliates. Each loan is subject to underwriter final approval. All information, loan programs, interest rates, terms and conditions are subject to change without notice. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.

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