The Home Affordable Unemployment Program (HAUP) provides homeowners a forbearance of monthly mortgage payments, either reducing them or suspending them for at least three months. Servicers can extend the timeline depending on regulatory guidelines. Homeowners who qualify for the program have a first-lien mortgage oriented on or before January 1, 2009. The unpaid principal balance [...]
You may be considering refinancing for one of the following reasons: To lower your current interest rate To reduce your monthly mortgage payment by spreading the remaining balance over a longer loan period To consolidate debt To take cash out for home improvements To take cash out to fund a child’s college education All of [...]
When it comes to choosing a mortgage, the options are many. Do you select a fixed mortgage or an Adjustable Rate Mortgage (ARM) or maybe a mix of the two? Interest only, perhaps? Here are some questions to consider to make an educated decision: How long will I be in this home? Will this be [...]
