All you need to know about Private Mortgage Insurance (PMI)

Buying a home is an important milestone in everyone’s life, however, there are several costs associated with a home purchase. One of the important expenses that you might need to pay for is mortgage insurance. Mortgage insurance is required by home buyers when they put a down payment of less than 20% of the home

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Peggy Patenaude Named North Shore’s #1 Realtor for July

Boston Top 20 named Peggy Patenaude of Andover, MA as the North Shore’s #1 Realtor for July. Achieving sales of more than $8.1 million for the month of July alone. Peggy, a real estate agent for William Ravels Real Estate, Mortgage & Insurance, dominated the currently hot real estate market in the area. Every month,

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New Way to Help Protect U.S. Homeowners

CUNA Mutual Group (founded in 1935) recently launched a new mortgage payment protection product for credit unions and their members. This new product covers mortgage payments in the event of a borrower’s death, disability, or involuntary unemployment. Credit unions that offer it are leveraging a comprehensive insurance and training program that protects members’ home mortgages.

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A Little? A Lot? Down Payments and Your House Payment

Your down payment represents the initial blood, sweat and tears that you put into your new home. It’s one of the factors lenders review when evaluating a mortgage application along with credit, income and job history. But how much is the ideal amount for a down payment?

AEI Study Shows How FHA Financing Is Destroying Thousands Of Neighborhoods

According to American Enterprise Institute Fellow, Edward Pinto, the FHA mortgage insurance program is helping to destroy the neighborhoods that FHA is most heavily involved in. A detailed study of FHA lending practices and default rates shows that lower income borrowers and home owners with FHA loans are much more likely to default on their loans.

Growing Worries over Sub-Prime Mortgages in Canada

The large Canadian banks have always lent responsibly, and even now are tightening lending conditions, but this doesn’t appear to be the case with Canada’s growing sub-prime mortgage industry.

New FHA Rule Could Deny Mortgage Backing to 50% of Potential Buyers

Experts say that a new ruling by the Federal Housing Administration is likely to rule out thousands of potential buyers from securing a government-backed mortgage when it comes into force next Monday.

Things a First-Time Buyer Should Know Before Buying a Home

For most first-time home buyers, buying a home means obtaining a mortgage. Applying for a mortgage can be a complicated process, so it pays to do some research before taking the plunge. Read on to learn 10 basic things you should know before buying a home.

Lower Fees for Previous FHA Mortgage-Holders

President Obama’s newest plan unveiled to ease some of the burden on homeowners seems like a two-sided coin. Still, there are benefits to as many as two to three million current mortgage holders.

Citigroup Hit With $158 Million Mortgage Fraud Settlement

Citigroup has suffered its second setback in two weeks, with the news that the bank will have to pay out $158.3 million in settlement fees, coming hot on the heels of last week’s $25 billion foreclosure settlement that was agreed between states and America’s five largest banks.

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