by sgomes | Jun 28, 2024 | Finance, Housing, Mortgage
Earnest money is a deposit made by the buyer upfront when purchasing a home. It is often referred to as a good faith payment, demonstrating to the seller your serious intent to purchase the property once certain conditions are satisfied. To safeguard the deposit, a...
by sgomes | May 17, 2024 | Finance, Mortgage
The current market for second mortgages is experiencing a significant increase in demand among homeowners. This surge in popularity is driven by various factors, including: Rising Home Values: As home values continue to increase, homeowners are finding themselves with...
by sgomes | Mar 29, 2024 | Finance, Housing, Uncategorized
March 2024 Survey by Finance of America, and explanations of results provided by HowMuchAMonth.com. In a recent survey, homeowners rated their highest financial priority, and here are their results. Saving for the Future, Retirement, and Emergencies (72%): Homeowners...
by sgomes | Oct 13, 2023 | Housing, Reverse Mortgage
Qualifying for a reverse mortgage requires far less documentation and fewer credit conditions than a forward mortgage. However, there are a few important requirements that must be met. Important Requirements: Borrowers in most states must be 55 years or older. Ages...
by sgomes | Oct 6, 2023 | Home Equity, Reverse Mortgage
As home equity increases, many homeowners are tapping into this growing source of available funds. This is particularly useful for homeowners that have a very low interest rate, since adding a home equity loan will not modify their existing mortgage rates or payments....
