If you are in the market to refinance, you should get quotes from at least three lenders. If you have never compared loan offers before, it can seem overwhelming. It’s an important part of the process, though, so that you can make sure that you get the most for your money when refinancing.Compare Offers from Several Mortgage Lenders.Keep reading to learn the steps you should take to … [Read more...]
Foreclosure vs Short Sale: What Hurts Your Credit More?
If you can’t afford your mortgage payment any longer you may consider walking away from the home, giving it up in foreclosure. Another option you have is to talk to your lender about a short sale. Both options result in you losing your home, but one option may affect your credit score a little less, depending on the circumstances.Compare Offers from Several Mortgage Lenders.It’s important … [Read more...]
Do You Have to Provide Tax Returns When Applying for a Mortgage?
Lenders need to verify your income in order to approve you for a mortgage. Does this mean that every lender will ask for your tax returns, though?Compare Offers from Several Mortgage Lenders.Luckily, the answer is ‘no.’ Not everyone has to provide his or her tax returns. Only certain borrowers must provide these documents to prove their income. If you are an employee of a company and … [Read more...]
How Often Should You Check Your Credit Report?
Checking your credit report can help you in many ways. Not only will you always know where you stand as far as your credit is concerned, you’ll always know if there is something incorrect on your credit report.Compare Offers from Several Mortgage Lenders.All too often mistakes go unnoticed on credit reports. Consumers that don’t check their credit reports regularly have no idea that a late … [Read more...]
The Best Way to Deal With Debts Before Refinancing
If you want to refinance your mortgage, you have to have your financial affairs in order. Just like when you bought your home, your lender will look at your credit score, income, debts, and assets. They want to know that you can reasonably afford the loan before giving it to you.Compare Offers from Several Mortgage Lenders.So what should you do if you have other outstanding debts aside … [Read more...]
