Mortgage

In most homes, paper causes clutter. And it seems to mysteriously multiply by itself. But just how long do you need to keep all those receipts, bank and credit card statements and other financial papers? Below is a handy In most homes, paper causes clutter. And it seems to mysteriously multiply by itself. But just [...]

Experts estimate that most people who use a Realtor will pay as much as 10% of your selling price in costs associated with selling. The cost of selling a home yourself can range from 4% to 8% of the selling price of your home. When you’re estimating your expected gains, remember that the cost of [...]

Urban legends about HUD
1) You can buy a home from the government for $1.
Did you really think you could? Sadly, most people that enter their credit card numbers on those flashy investment websites, or call in and order that expensive As Seen on TV package actually think they can.
HUD does have programs which allow [...]

Front End Ratio
This is the percentage total proposed monthly payment for your mortgage (includes principal and interest, taxes, insurance and mortgage insurance if any) divided by Gross Monthly Income. So if your proposed mortgage is 1350 dollars and your gross income is 4500 dollars your front end ratio would be 30%.
Back End Ratio
This [...]

It’s a true fact that it’s not where you are born or whom you are born to that determines how your life will be. Its what you do with your life that determines how your life will be. Not long ago, Forbes Magazine publishes a special report on The World’s Billionaires. It’s a snap shot [...]

Once homeowners fall behind on their payments by a few months, the bank will inevitably begin the process of filing foreclosure paperwork. In states where the lender must (or usually does) go to court to be able to have the home auctioned, a lawsuit is filed against the owners. This is when the clock starts [...]