Borrowers routinely question lenders and loan officers about the right mortgage for them. Loan officers and lenders are wary of answering. Many factors affect the right mortgage and lenders lack all the important details about the borrowers needs. As a result, the lenders speak in options available. Fixed Rate or ARM? 5 Year, 10 Year, 15 Year, 30 Year or […]
Forbearance requires an agreement between the borrower and the lender. Missing or delaying any payments without a documented agreement will likely hurt the borrowers credit, just as if the borrower stopped paying and went delinquent. But will forbearance affect a credit score? With proper approval, forbearance won’t affect credit, according to one of the major credit bureaus. Forbearance delays required […]
Zillow surfing has become a past time during the pandemic. Many buyers have been making offers based on Zillow estimates. Does this sound like a bad idea? Zillow thought its numbers were Gospel and began buying homes for itself. That created a loss for Zillow of about $1 billion in about a year. Probably a good indicator how much trust […]