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The Impact of Bankruptcy on Mortgage Eligibility

Going through bankruptcy can be a challenging and stressful process. However, it s important to understand how bankruptcy may affect your ability to secure a mortgage in the future. Bankruptcy, whether Chapter 7 or Chapter 13, can significantly impact your credit score and financial history, both of which are critical factors when applying for a mortgage. Despite this, it's possible to obtain a mortgage after bankruptcy, though the path may be a bit more complicated. Chapter 7 Bankruptcy and Mortgage EligibilityChapter 7 bankruptcy, also known as liquidation bankruptcy, involves the discharge of most unsecured debts. This means that individuals who…
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The Benefits of Paying Points on Your Mortgage

The Benefits of Paying Points on Your MortgageWhen you take out a mortgage, you may be given the option to pay points in exchange for a lower interest rate. A mortgage point, also known as a discount point, is equal to 1% of the loan amount. For example, if you re financing $200,000, one point would cost $2,000. While paying points means you ll pay more upfront, it can offer long-term savings. Understanding the benefits of paying points on your mortgage can help you decide if it's the right move for you. What Are Mortgage Points?Mortgage points are fees paid…
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Cash-Out Refinance vs. Rate-and-Term Refinance: Which One Is Right for You?

When considering refinancing your mortgage, two main options often come to the forefront: Cash-Out Refinance and Rate-and-Term Refinance. Both allow you to change the terms of your mortgage, but they serve different purposes and have distinct advantages. Understanding the differences between these two refinancing options is crucial to making an informed decision that best aligns with your financial goals. What Is a Cash-Out Refinance?A Cash-Out Refinance allows you to replace your existing mortgage with a new one for more than you currently owe. You receive the difference in cash, which you can use for various purposes, such as paying off…
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What’s Ahead For Mortgage Rates This Week – August 11th, 2025

The major report to look out for was the Trade Balance, which has decreased more than expected, suggesting that the current administration's policies are having an impact. However, the long-term impact on the economy as a whole remain to be seen. This was followed closely by consumer credit, which came in far lower than expected, though many are predicting that consumer credit usage will grow over time. While the labor market remains constrained, the consumer market has remained stable in spite of the uncertainty brought on by the tariff policies. Trade BalanceThe U.S. Census Bureau and the U.S. Bureau of…
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