Mortgage news, tips and tools – Page 4
The PennyMac Mortgage Blog is where you'll find unbiased, useful info to help save you money, time and peace of mind during the mortgage process. If you have a mortgage or are about to get one, we think you'll find info here you can't always get elsewhere.
Who’s on your holiday gift list this year? Grandma. Husband. Partner. Daughter. House?
Do you have childhood lake house memories or dreams of beachside retirement? Not sure how you can afford to purchase a vacation home of your own? Sharing your second home with others as a vacation rental is a path that can lead to great investment returns and maybe even a few new friends. We talked to vacation property gurus to get their top tips and advice for rental owner rookies.
If you’re having trouble meeting your monthly loan payments and are now facing foreclosure, a short sale may be a better option. Let’s look at the basics of the short sale process, including how to determine whether you qualify, the pros and cons of short sales and the procedures involved in completing a short sale.
A 30-year mortgage has long been the industry norm, and for good reason: It allows the homebuyer to spread the loan out over a long period to keep payments as low as possible. But now that interest rates have dropped to near-record lows, 15-year mortgages are becoming more popular. Is a 15-year mortgage right for you?
Quality of Life. Quiet cul-de-sacs. A sense of belonging. After fleeing for destinations near and far, some people choose to return to the suburbs, cities and regions where they once played duck-duck-goose and rode bikes. Around 37% of Americans have never left their hometown according to the Pew Research Center; but others just return later in life.
You comparison shopped, choosing your mortgage lender carefully. Then, shortly after closing, you receive a letter from a new company introducing themselves as your servicing provider. What does this change really mean?
Whether you are considering your first rental property or just closed on your 50th, you have many decisions to make relating to how you will manage your investment. Keep that pink bathroom or tear it out? Update the landscaping yourself or hire help? One of the questions you may not have considered is whether or not to hire a property manager. Many investors (both new and experienced) are hesitant to hand over any of their cash flow to a property manager, but this is one expense that can save money, time, and maybe even your sanity.
There are a lot of conflicting ideas about whether or not paying off your mortgage early should be a top priority. A family member might tell you paying off their mortgage was one of the best moments of their life, while a friend warns you that paying early is a mistake. With financial gurus on both sides of the fence, it can be hard to know what to do. So, what's the right move today—pay off your mortgage early or don't worry about it?