If you used a VA loan to obtain your current home, yet wish that you could take advantage of today’s lower mortgage rates, you can. The program known as the Interest Rate Reduction Refinance Loan, or IRRRL, helps to lower the loan for veterans without forcing them to give up their veteran’s benefit. Read more
Archives for August 2016
Mortgage Interest Deduction Guide for Homeowners
As a homeowner, you can get mortgage interest deduction for the interest paid towards your primary or second home mortgages from your personal income, subject to certain conditions and qualifications. In addition to interest deduction, mortgage points paid towards the loan closing, PMI, insurance Read more
Should you Pay off a Car Before Applying for a Mortgage?
Many people think that it is beneficial to pay off a car loan before applying for a mortgage. In reality, this could be a bad idea and actually cause you to lose your mortgage approval. The logic behind this theory might seem a bit strange, as it seems to be common sense to pay off a loan and have Read more
CFPB Updates Rule to Prevent Wrongful Foreclosures
The Consumer Finance Protection Bureau has put in place additional measures to protect borrowers and their successors-in-interest from wrongful foreclosures.“These updates to the rule will give greater protections to mortgage borrowers, particularly surviving family members and other Read more
Rates Hike After Jobs Increase
Three consecutive weeks have shown interest rates on slight nudges up, though still significantly low following the Brexit ripple; and today, has revealed its fastest pace yet. Experts attribute the hike to the strong jobs data for July that added 255,000 new jobs to the employment sector. What Read more
