Mortgage news, tips and tools – Page 9
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.
For many people, one of the benefits of homeownership is having the opportunity to use their home equity to access needed cash. While there are many options to get that money into the piggy bank, an attractive option for many is a cash-out refinance.
Most new year’s resolutions include staying fit and healthy, losing weight, spending less and saving more. We spoke with Tom Kraeutler, the nationally syndicated radio host of The Money Pit Home Improvement Radio Show to discover New Year’s resolutions you can make for 2017 that will help keep your house in great shape year-round.
Beware of Fraudulent "Making Home Affordable" Offers. Owning a home can be expensive and, as one of your largest assets, it’s important to protect. As a homeowner, you may receive hundreds of offers a year to refinance or modify your home loan, promising a lower monthly payment. Unfortunately, not all offers are legitimate.
Many PennyMac customers and prospects have a target rate they must hit to receive a benefit from refinancing or to qualify for a loan. Now, you can set a target rate in your profile and receive notifications on your iPhone when our rates hit your target. From there, you can click one button to reach a PennyMac loan officer to get started.
The thought of purchasing a home may often seem out of reach. With student loans to pay back and credit card debts to settle up, many buyers wonder if they'll ever accumulate enough money to meet that 20% down payment. Fortunately, there are alternative fund sources available for cash-strapped borrowers.
Buying a home can be one of the most rewarding investments you will ever make. However, it can also be one of the most costly. As a result, many lenders suggest prospective buyers determine a home’s monthly mortgage payment before making a commitment. This will help borrowers better gauge if a property will comfortably fit within their current budget.
Have you fallen behind on your mortgage, or tried re-negotiating your terms to no avail? If you answered yes, you may be a perfect candidate for a short sale — a process in which a homeowner sells a home for less than they owe.
Throughout the years, homeownership was synonymous with American Dream. A home was considered to be a borrower's greatest asset, a place to raise a family and a vehicle to build greater wealth. But given the way the housing bubble formed and burst in 2008, many buyers have been left wondering: is buying a home still a wise investment? The answer is, it depends.
America's mortgage industry is slowly recovering. But, according to real estate site Zillow, 16 million homeowners still owe more than their homes are worth. And, while taxes may not be top of mind for these underwater homeowners, there are some helpful advantages afforded to these borrowers via the Mortgage Forgiveness Debt Relief Act.