Consequently, before you file for bankruptcy, you should first understand the possible risks and benefits that may arise and how the process can affect your mortgage lending. The following are some of the ways on how bankruptcy affects mortgage lending: I. Bankruptcy can help prevent foreclosure. Debts...
Many people who may have lost their homes during the time of recession are now able to get mortgages again. This is mainly owing to the fact that they waited seven years for the black mark to be lifted from their credit record. Records show...
What is a mortgage A mortgage is a legal agreement or statement that is utilized by credit financiers or banks to lend money to borrowers at an interest rate in exchange of the debtor's title for a specific property. Usually, the conveyance of the title of...
A Non-Qualified Mortgage is any home loan that fails to comply with the (CFPB) Consumer Financial Protection Bureau's existing rules on Qualified Mortgage. For a person to get a mortgage, he should have a steady employment record. This requirement suppresses the borrowers who have seasoned...
Did you know you can now access bank statement loans as a self-employed business person? Now, it is possible to acquire bank statement loans even when tax returns say otherwise. Bank statements are used by lenders to provide a whole chunk of information about your...
