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With the rising number of foreclosures in the country, many of the struggling homeowners are opting to file bankruptcy as a means to get rid of their unmanageable debts. Queries related to bankruptcy are quite common in the forums these days. Here’s...
As per the Truth in Lending Act, the right to rescission helps a borrower to cancel home loans of certain types within three days of closing. This right is offered on a “no-questions-asked basis”. The lender will have to refund all the fees within 20...
Before discussing whether or not the adjustable rate mortgage (ARM) is dead, let’s first check out what ARM is all about. We can define an adjustable rate mortgage as a home loan wherein the interest rate on the mortgage note adjusts periodically....
The burst of the housing “bubble” has caused many a change in the housing and mortgage market. Many of the first time buyers are now skeptical about their chances of getting a home loan in this depressed economy, even though they possess good...
With the crisis in the real estate market, the American dream of homeownership has come to an abrupt end. Lots of people have lost their homes in foreclosure and many more are delinquent on their mortgage payments. Most people are facing such a...
