Want to keep money in your pocket that you otherwise would have spent on an in-person appraisal? Consider waiving the appraisal. Here are some pros and cons of this interesting home-financing concept to determine whether it’s a good idea for you. What is an appraisal waiver? Also known as a property inspection waiver, this real estate term simply means you
The coronavirus pandemic has led to record-high unemployment rates not seen since the Great Depression, which can be particularly worrisome for would-be home buyers. If you were among the 23.1 million Americans laid off or furloughed, you might be worried about your financial future. And if you were hoping to buy a house—either now or in the next few years—you
Reverse mortgages enable older homeowners to turn a portion of their home equity they have amassed in their properties into tax-free cash via a loan that isn’t required to be repaid until they pass away, sell or move out of their house. This might sound like a good idea to a lot of seniors who are currently navigating the financial
Getting a mortgage loan, paying your mortgage, and refinancing your mortgage can be major undertakings anytime, but the process can become even more complicated when a global health crisis is involved. While there have been some silver linings—like record low-interest rates—there also have been several changes to note, with mortgage lending looking different now than at the start of the
When you purchase a home, the thought of having to pay a mortgage for decades can be daunting. That’s why you might consider paying off your mortgage as possible. But before you decide to make extra payments or to pay off your loan altogether, you should consider whether it really makes financial sense. For example, the amount you save on
