Significant financial misfortune may lead you to do the unthinkable: file for bankruptcy. You may fear that this means the American dream of homeownership is out of reach, but all is not lost. Homeownership after bankruptcy is possible. Types of bankruptcy Federal law allows individuals to file two types of bankruptcy: chapter 7 and chapter… Read more »
The loan processor you work with when you apply for a mortgage isn’t the person who decides whether you qualify for a loan. That power lies with the mortgage underwriter. How do underwriters decide whether applicants will get a loan? The mortgage underwriter’s job The underwriter’s job is not to make you dance like a… Read more »
The mortgage approval process can be stressful for anyone, but self-employed people encounter an extra measure of scrutiny. You may have succeeded in pursuing the American dream of owning a business only to find that financing a home is more difficult than if you worked for someone else. Here’s our guide to mortgages for the… Read more »
It’s a shock when your application for a mortgage is declined. You are excited about owning a home, but the opportunity gets snatched away. What can you do about a mortgage application denial? First things first If your mortgage application is denied, ask the lender why. Under federal law, you have a right to know… Read more »
