Are you feeling overwhelmed by your mortgage payment? If you are, then you are not alone. In a recent study that looked at how stressed Americans feel about money, Rhode Island ranked the 13th most stressed state. Further, there is …Read More
With over 400 miles of coastline, Rhode Island, also known as the Ocean State, is a beautiful place to live. In fact, some reports even name it one of the best states to live in. Further, some cities and towns …Read More
If you are thinking about applying for a mortgage modification, you may be wondering if you should hire an attorney. An attorney can represent you and help you with your application. Further, certain attorneys specialize in mortgage modifications, meaning they …Read More
Another way that a mortgage may be modified is through a principal reduction. The principal amount is the amount that was borrowed to purchase the home. This is the amount that needs to be paid back. The principal amount does …Read More
One way that a mortgage may be modified is through a rate reduction. A rate reduction is when a mortgage company agrees to lower a homeowner’s interest portion of the mortgage payment to a lower percentage. The rate reduction will …Read More
Although the term “short sale” is commonly used, not everyone knows what it actually means. If a homeowner finds themselves not being able to pay the mortgage, the homeowners may be encouraged to enter into an agreement for a short …Read More
Applying for mortgage assistance can be very complicated unless you take the process seriously. A homeowner considering a mortgage modification will likely have to submit many different financial documents to the mortgage company. Which specific documents that are needed varies …Read More
If you fail to make your monthly payments on your home’s mortgage, your mortgage company can foreclose on the home. This means that the bank will take your property back, and you and your family need to move out of …Read More
When shopping for a home, most homeowners look for a mortgage payment that the homeowners can comfortably afford. However, many first-time home owners may not realize that the mortgage payment on the home can actually change throughout the life of …Read More
In order to qualify for a mortgage modification, a homeowner must show that a hardship has occurred. The hardship must be financial in nature, resulting in it being difficult or impossible for the homeowner to make the monthly mortgage payments. …Read More