Mortgage news, tips and tools

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.

05.25.18

Although you planned and saved for years, life threw you a curve and now you’re at risk of missing mortgage payments—and perhaps even falling into foreclosure. If you find yourself in some financial distress, you may be able to find relief in the form of a home loan modification.

Read more about The Loan Modification Guide: Understand Your Options

05.25.18

For people faced with the potential of foreclosure, it’s natural to feel anxious and confused. How long does the foreclosure process take? Will you be able to remain in your home in the interim? What rights do you have, and how can you exercise them?

Read more about Understanding Foreclosure: A Guide for Imperiled Homeowners

05.04.18

Debt-to-income (DTI) ratio isn’t as talked about as often as your credit score, but it’s just as important when seeking a home loan. So what goes into DTI? It’s the amount of recurring monthly debt you have compared to your monthly gross income.

Read more about What Is the Debt-to-Income (DTI) Ratio?

05.04.18

Front-yard fountains and backyard pools can help a home feel summer-ready, but they aren’t the only H2O delights available. Water features such as ponds and waterfalls added to landscapes or even fountains are a growing trend we see in the homes we inspect, says Kathleen Kuhn, president of , a national home inspection company.

Read more about Make a Splash: Alternatives to the Backyard Pool

04.23.18

When it comes to remodeling plans, most homeowners immediately think of upgrades to be made inside of the house. Kitchen and bathroom updates are some of the first ideas that usually come to mind, but you can get great returns from making outdoor renovations and improvements.

Read more about Outdoor Renovations: Think Outside the Box

04.23.18

Financial difficulties may affect everyone at some point. A past-due notice from a utility company, a late charge on your credit card statement or an accidental overdraft on your bank account can be easily remedied. But when your financial problems are bigger—say, months of missed mortgage payments—the stakes are a lot higher. If you’re having trouble paying your mortgage, here’s what you need to know.

Read more about Behind On Your Mortgage Payments? Here’s How to Avoid Foreclosure

04.11.18

If you’re struggling to pay your mortgage, the threat of foreclosure is never far from your mind. You feel anxious, frustrated, and possibly even embarrassed. Then, just when you’ve given up all hope, someone swoops in offering a miraculous solution to your impossible problem. You’re saved! ...or are you?

Read more about How to Avoid Foreclosure Scams

04.09.18

"As spring approaches, so do certain contractors – in fact, they may even knock on your door. Scammers posing as legitimate contractors often target cities and communities in areas hit by natural disasters, according to the Federal Trade Commission’s consumer education arm. Shady contractors may dupe homeowners into paying upfront for work they’ll never perform, or low-quality work carried out by unlicensed or unqualified employees. They may also target older individuals or a specific neighborhood."

Read more about Owner Beware: Scams on Homeowners

04.09.18

Many Americans have been keeping an eye on the newest tax bill and thinking about how it affects their finances. However, if you own a home, or are planning to buy in the near future, you have probably paid extra attention to mortgage interest deduction reforms. The new US tax bill does include changes to this popular deduction, as well as a few other updates that may mean big changes for homeowners. Here’s what you need to know.

Read more about Mortgage Interest Deductions and More: Homeowners and the New Tax Bill