A homeowner who is experiencing a hardship and is considering applying for a mortgage modification may come across the term capitalization of arrears or capitalization of missed mortgage payments, and wonder what it means. When a homeowner misses mortgage payments …Read More
A homeowner who can’t pay the mortgage may ask the mortgage company if they can forbear from paying the loan, also known as forbearance. Forbearance occurs when the mortgage company agrees to allow the homeowner to make a reduced mortgage …Read More
As a homeowner, there are times when you simply may not be able to make your mortgage payment. Mortgages and homes are expensive. In Rhode Island, the average cost of a home is approximately $265,000. This means that with interest, …Read More
Homeowners who are experiencing a hardship and are considering applying for a mortgage modification may wonder if the home may be rented after a mortgage modification. This may happen if the home in question is a rental home, vacation home, …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
A homeowner who is interested in applying for a mortgage modification may wonder if receiving a mortgage modification will affect the homeowner’s chances of getting a future mortgage on a different property. Each company has unique guidelines and criteria as …Read More
A homeowner who is going through the mortgage modification process may wonder if they are have to accept the first offer from the bank. Homeowners are not obligated to accept the first offer from the bank, but if the homeowner …Read More
Wells Fargo is a household name in the banking industry. In fact, it is considered to be the second largest bank in the world, and the fourth largest bank in the United States. Wells Fargo is also considered to be …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
Retirement can be a stressful time in a person’s life. A person may have worked for many years to provide for the person’s family and save for retirement. However, adjusting to a fixed income can be difficult for many, and …Read More