Zombie Mortgage

New, unforeseen challenges have come back from the dead to bite homeowners in the back. What’s “Zombie Mortgage”? This is the situation where a property owner has abandoned a property encumbered by a mortgage and the lender will not foreclose and take the property. Colloquially known as “Zombie mortgages” they mainly affect those who applied
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The Myth of Reverse Mortgage

While the concept of a reverse mortgage has been around for a while, they are less utilized as there are some misconceptions in the market. They may soon become a more popular option for many once one understands how to use this product to enhance their lives. A reverse mortgage is quite simple: a borrower
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Market Update – March 17, 2021

Housing does not seem to have been affected much by the rising mortgage rates which is not too good of news for those shopping for bargains. This month the mortgage rates have continued to increase from the lowest point but still remain at historic lows. Lenders remain busy as people still continue to purchase and
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COVID-19 and the housing market

The lack of vaccine doses and evidence for its efficacy has caused the mortgage rates this week to stagnate while the economy yet again attempts to determine the magnitude of the effect COVID-19 will have on the housing market. As a direct consequence, mortgage rates have not changed much from their slight rise last week.
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Mortgage 101

Todays mortgage myths… Pre-qualification vs Pre-approval Though the terms may look and sound similar. Some people use the terms interchangeably, but there are some differences that every homebuyer should understand. By answering several questions about your current financial situation, you can get pre-qualified which is based on consumer-submitted data. This means that your current financial
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