11 Jul 2025
By Mark Feder

Creative Strategies for Managing Mortgage Payments During Financial Hardship

Mortgage Tips
Financial hardship can happen for many reasons — job loss, medical emergencies, rising expenses, or unexpected life changes. One of the most important steps homeowners can take is to recognize early signs of financial strain. If your savings are shrinking, your income has dropped, or monthly bills are piling up, it is time to take action before falling behind on your mortgage. Communicate with Your Lender FirstYour mortgage lender is not the enemy during a hardship. In fact, most lenders offer solutions if you reach out before missing a payment. Whether you need a temporary pause or a modified payment…
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25 Jun 2025
By Mark Feder

How Homeownership Builds Generational Wealth – A Message for National Homeownership Month

Mortgage Tips
June is National Homeownership Month, a time to celebrate the lasting impact that owning a home can have on individuals and families. One of the most powerful benefits of homeownership is the ability to build equity. As you make mortgage payments, you are gradually increasing your ownership stake in the property. This equity becomes a form of forced savings and can be used in the future for things like education, home improvements, or retirement. Unlike rent, which builds no future value, mortgage payments create wealth over time. Appreciation Adds Long-Term ValueIn addition to building equity, homes tend to increase in…
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24 Jun 2025
By Mark Feder

Renting vs. Owning the National Homeownership Month Edition

Mortgage Tips
June is National Homeownership Month and there is no better time to look at the long-term financial benefits of owning a home compared to renting. As a mortgage professional, I often speak with clients who are unsure whether to keep renting or make the leap into homeownership. The decision can feel overwhelming, but when you break down the numbers and look at the bigger picture, the advantages of buying a home are clear. Monthly Payments Are an Investment Not an ExpenseWhen you rent, your monthly payment goes straight to your landlord. You are covering their mortgage, not building anything for…
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13 Jun 2025
By Mark Feder

Creative Strategies for Saving on Closing Costs

Mortgage Tips
When you are budgeting for a new home, it’s easy to focus on the down payment, but do not forget the closing costs. These fees typically range from 2% to 5% of the home’s purchase price and cover things like the appraisal, title search, loan origination, and other administrative expenses. For many buyers, especially first-timers, they can feel like an unwelcome surprise. The good news? There are creative, effective ways to reduce these expenses and make homeownership more affordable. 1. Negotiate With the Seller In a buyer-friendly market, you may be able to negotiate for the seller to cover part…
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