13 Mar 2014
By Mark Feder

Legal Secrets For Homeowners

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Being a homeowner is exciting. It can be financially rewarding, too. Unfortunately, it can also put you in a tough legal position. Between the complexities of owning a house, having to deal with lenders and the risk that comes from owning something valuable, keeping yourself legally protected is a good idea. Here Are Some Risks And Some Ways To Handle Them HOAs. If you own a condo, townhome or other property in an association, the homeowner association is extremely powerful. Not paying their dues, violating their rules, or doing just about anything else to end up on the wrong side…
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12 Mar 2014
By Mark Feder

What Financial Preparations Should I Make Before Applying For A Mortgage?

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Getting a mortgage isn't an easy thing to do. Before a lender will put down tens of hundreds of thousands of dollars, it wants to know that the borrower can handle the loan so that it will get paid back. to this end, there are three things that a potential homebuyer can do to prepare for the mortgage approval process. Managing Debts For many homebuyers, managing their credit score is the biggest challenge. Mortgage lenders like buyers with strong credit. While getting strong credit usually isn't something that can be done overnight, paying bills on time, all of the time…
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11 Mar 2014
By Mark Feder

How Do Mortgage Lenders Decide How Much You Can Borrow?

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When you visit your lender to get a mortgage for your home, they will tell you the maximum amount that you are allowed to borrow. But how do they reach this total and what factors do they take into consideration? How do they determine that one borrower can take on a bigger mortgage than the next? This decision is made by mortgage companies by considering a wide range of factors, including your credit information, your salary and much more. Here Are Some Of The Common Ways That Lenders Determine How Much You Can Borrow: 1. Percentage Of Gross Monthly Income Many…
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10 Mar 2014
By Mark Feder

What’s Ahead For Mortgage Rates This Week – March 10, 2014

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Last week's economic news included construction spending and the CoreLogic Home Price Index for January.  Reports for February included ADP Employment, Non-Farm Payrolls and national unemployment data. The Federal Reserve's Beige Book report and weekly reports on mortgage rates and new unemployment claims rounded out the week's economic news. Highlights for last week include: Consumer spending gained 0.40 percent for January. The expected reading was 0.20 percent and the reading for December was flat. The Commerce Department reported that increased spending was less an indicator of consumer discretionary spending than an indicator of high utility costs caused by severe winter…
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