I had a former coworker call me a few weeks ago. She isn’t local anymore. Nevertheless, she wanted to touch base because she was ready to put an offer on a home–to buy a home–in another part of the state. This former coworker had done all of her research and wanted to...
As mortgage interest rates increase, the cost of borrowing increases. Interest rates (including mortgage interest) are dictated by several factors—specifically, how the economy and market are performing. So when the recession hits or the economy is under performing,...
How Will a Short Sale Affect My Credit Score? Borrowers often ask, “How Will a Short Sale Affect My Credit?” An individual’s credit rating affects their ability to obtain financing and obtains favorable rates. FICO, the Fair Isaac Corporation, is the most widely used...
Tax Implications Borrowers are often concerned about the tax consequences of a short sale. This is because, up until fairly recently, mortgage debt on a primary residence that was forgiven from a Short Sale or Foreclosure could be counted as “taxable income” by...
If you are trying to contact your lender to work out a payment plan or discuss some other matter, knowing who owns your mortgage can be very helpful. Unfortunately finding out is not as easy as it sounds since more often your mortgage lender is not the one who owns...
