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Ultimate Facts About 20% Down Payment Conventional Mortgages

Ultimate Facts About 20% Down Payment Conventional Mortgages

What Is A Down Payment? There are many challenges that homeowners face when he or she enters the market to buy a home. The number one obstacle in the process of buying a home is to save enough money for a down payment. What is a down payment you ask? A down payment is a […]
Posted in Mortgages

General News

Beware Of Phone Scams: “I Have An Emergency And I Need Money”

Beware Of Phone Scams: “I Have An Emergency And I Need Money”

Phone scams can be alarming and are no joke. Millions of Americans are targeted each year via robo dialers and that’s exactly what scammers want. They want you to listen to their story and act before you think-Unfortunately, in many cases, they are successful as people provide personal and detailed information. What do these scammers […]
Posted in General News
Nationstar Officially Rebrand To Mr. Cooper

Nationstar Officially Rebrand To Mr. Cooper

Last year when HousingWire sat down with Jay Bray, the CEO of Nationstar Mortgage, to discuss the company’s transition into Mr. Cooper, Bray said that the rebrand is much more than the new name of the company. Originally, the transformation was scheduled for the first half of 2016, but it is taking longer as it’s not just rebranding. The […]
5 Ways Your 401(K) Will Help You Save More Money For Your Retirement

5 Ways Your 401(K) Will Help You Save More Money For Your Retirement

According to the Employee Benefit Research Institute, over the 35 years that workplace savings plans like 401(k)s  have been around, the people that utilize them efficiently have more money at retirement than those who do not utilize the program. 401k plans, which require no action on an employee’s part, are playing a larger role in […]
5 Ways To Stick To Your New Year’s “Financial” Resolutions

5 Ways To Stick To Your New Year’s “Financial” Resolutions

For all of us, resolutions are hard to uphold, especially if it requires us to change many of our daily habits and routine.  Financial resolutions also fall into that category. Considering the trend of broken resolutions, we have compiled five best strategies for keeping your New Year financial dreams alive. 1. Manage Your Personal Finances […]
From January To December, Your Month-By-Month Money Guide

From January To December, Your Month-By-Month Money Guide

From glittering holiday parties, presents, and New Year’s festivities, it is expected that come January, your budget has most likely taken a hit.  By being proactive and determined each month, it is possible that you can recover and revive your finances. Here’s are some tips for month to month budgeting to help you start saving. […]
Five Small Lifestyle Changes with Big Saving Power

Five Small Lifestyle Changes with Big Saving Power

Compromising on things we enjoy, and the idea of sticking to a strict budget is not something most of us love doing. To make it effortless, we have listed five small things which you can do on a daily basis to boost your savings. 1. Embrace Homemade Food and Coffee If you’re foodie, consider getting […]
5 Things You Need To Know About Paying With Your Mobile Wallet

5 Things You Need To Know About Paying With Your Mobile Wallet

According to the National Retail Federation, this holiday shopping season, consumers are reaching their wallet a lot—spend nearly $656 billion. But while you are muddling around for your cards, you might see the person next to you simply tap their phone on the mobile payment reader and go on their merry way. According to a […]
U.S Federal Reserves Increased Interest Rates: How Will It Affect Your Wallet?

U.S Federal Reserves Increased Interest Rates: How Will It Affect Your Wallet?

On Wednesday, the Federal Reserve committee raised its interest rate for the first time in a year and second time in a decade. They signaled that the Fed funds rate could continue to rise the following year, more rapidly than we had expected and it serves as a benchmark for mortgage rates, savings account yields, […]
5 Questions To Ask If You Have The Right Checking Account

5 Questions To Ask If You Have The Right Checking Account

Before a rainy day, it is wise to check on if the status of  your checking account. A small cash drip from your account is something you need not to take for granted. It’s time to stop those leakages otherwise it maycost you a huge financial burden. The director of the banking analytics firm, Rob […]
The Supreme Court Justices Probe Whether Miami City Can File Claim Against Banks Over Foreclosure-Gate

The Supreme Court Justices Probe Whether Miami City Can File Claim Against Banks Over Foreclosure-Gate

Supreme court favors Miami to sue banks for economic side effects of biased lending practices which led to the foreclosure crisis, destroying financial stability, the city claims. Miami, the city was hit hardest and made claim to the Supreme Court, to recoup what it had lost in financial institutions hands. A linear regression chart was […]

Credit

Do You Have Bad Credit? Increase Your Credit Score Now!

Do You Have Bad Credit? Increase Your Credit Score Now!

What Is Considered Bad Credit? Bad credit is usually depicted as a credit score of 619 or lower. Now, I know we all go through tough times at one time or another, but the long term inability to keep up with credit obligations, typically results in bad credit. Having a poor credit score can negatively […]
Posted in Credit
Ultimate Guide: How to Obtain a Good Credit Score?

Ultimate Guide: How to Obtain a Good Credit Score?

What Is Classified As A Good Credit Score? While different lenders have different standards of rating credit scores, all lenders consider 700 to 850 a good credit score. You credit score is important as it determines your eligibility on a variety of things such as qualifying for a new credit card, qualifying for a loan, and […]
Posted in Credit
Advantages of Secured Credit Card vs Unsecured Credit Card

Advantages of Secured Credit Card vs Unsecured Credit Card

As you enter into the world of credit for the first time, you may come across the number of available credit card offers. Some credit cards are secured while others are not. What do you do if you have little or bad credit history? Who will accommodate you? Making bad credit decisions could cost you in […]
Avoid Making Big Credit Mistakes And Take Action To Improve Your Credit Score

Avoid Making Big Credit Mistakes And Take Action To Improve Your Credit Score

When it comes to protecting and improving your credit score, one simple move can help you. While many credit mistakes are due to unexpected circumstances, many are results of poor planning, lack of organization or lack of attention to detail. That is where the concept of automatic payments comes in. Nothing is more important than […]
CFPB Fined Transunion $16.9 Million For Deceiving Consumers

CFPB Fined Transunion $16.9 Million For Deceiving Consumers

The Chicago-based TransUnion, Americas largest credit reporting agency was fined $17 million by The Consumer Financial Protection Bureau (CFPB) over the company’s marketing and advertising practices, disclosed this week. TransUnion revealed the settlement in a December 29 filing with the SEC, according to which the settlement was originated from a “civil investigative demand” from the […]
If You Are Under 30 Then These 5 Financial New Year Resolutions Might Interest You

If You Are Under 30 Then These 5 Financial New Year Resolutions Might Interest You

5 Financial New Year Resolutions I am assuming you have made your New Year’s resolutions for this year, but let me ask you a question, have you made a FINANCIAL resolution for 2017? Making resolutions isn’t something new and typically involves getting a new gym membership, but let’s be real, we probably will go for […]
Interested in a Home Equity Line of Credit?

Interested in a Home Equity Line of Credit?

Increasing Home Prices Create Home Equity Opportunities Lets say you you bought or refinanced your house with a low fixed mortgage. Given that rates will be increasing shortly,  it is likely that you will  want to keep your low interest rate. What if you needed extra cash however? This is where a home equity loan […]
Posted in Credit
5 Best Ways To Achieve A Good Credit Score-And Land The Most Competitive Interest Rates

5 Best Ways To Achieve A Good Credit Score-And Land The Most Competitive Interest Rates

What is Credit Score? Credit scores are 3-digit numbers revealed on every individuals credit report that represents the creditworthiness of a person. These 3-digit numbers are directly proportional to the credit amount you are eligible for. Credit scores are a key factor that creditors use to determine a borrower’s risk before evaluating an interest rate. […]
Handle Holiday Hangover, Increased Credit Card Rates

Handle Holiday Hangover, Increased Credit Card Rates

With the rise in credit card rates in 2016, many households have set goals of improving their financial situation. The holidays often prompt households to tackle their troublesome credit card charges, leading to a new year debt hangover. According to the Matt Schulz, senior industry analyst at CreditCards.com, “The US Federal Reserve’s decision to boost […]
Does Interest Rate Hike Affect Your Wallet? If Yes, You Need To Heed This Credit Card Advice

Does Interest Rate Hike Affect Your Wallet? If Yes, You Need To Heed This Credit Card Advice

What does the Federal Reserve’s decision to raise interest rates by a quarter percentage point mean for you? Do you know 90 percent of the credit cards have variable interest rates? IF yes, than you realize that it means that your interest rates will increase by 0.25 percent in the coming weeks. In general,  it […]

Foreclosure Prevention

Hamp Has Been Replaced By Fannie, Freddie New Flex Foreclosure Prevention Program

Hamp Has Been Replaced By Fannie, Freddie New Flex Foreclosure Prevention Program

On Wednesday, December 14, Fannie Mae and Freddie Mac announced their new Flex modification program. This program will replace the government’s HAMP program which was introduced nine years ago, to save struggling families who were facing mortgage crisis and were in danger of default. The Home Affordable Modification Program is slated to end on December 31, […]
Miami, New York City And Las Vegas Are Ranked Highest For Foreclosure Inventories In September, 2016

Miami, New York City And Las Vegas Are Ranked Highest For Foreclosure Inventories In September, 2016

According to CoreLogic, in September 2016, 36,000 home foreclosures were recorded, down 7% compared to September 2015 and 3.1% month over month. The current inventory foreclosure totals 0.9% of US homes with a mortgage compared to last year. A decline of 31.1% is noted in US homes, which are recently in some stage of foreclosure […]
Updated Mortgage Rules Strive to Stop Unfair Foreclosures

Updated Mortgage Rules Strive to Stop Unfair Foreclosures

A regulatory body in United States is trusted with ensuring consumers’ finances are protected has now accepted that they will aid in preventing wrongful home foreclosures. Regulatory bodies within the country are working to improve the massive lending market in the country. When the housing bubble started taking place in 2006, rules were made by […]
Mortgage Reductions for South Florida Borrowers – Really?

Mortgage Reductions for South Florida Borrowers – Really?

In April 2016, according to a federal program, about 1,500 South Florida borrowers may be qualified for reductions on their outstanding mortgage loan balances. The program aims to assist “underwater” and seriously lawless borrowers whose loans are currently owned or confirmed by mortgage companies such as Fannie Mae or Freddie Mac. According to the Federal […]
Ways to Avoid a Foreclosure

Ways to Avoid a Foreclosure

While going through a foreclosure, if you don’t want to keep the home, you should still try to avoid foreclosure since, it will not only harm your credit but, you could still owe the mortgage company a deficiency for the unpaid mortgage balance making you ineligible for a mortgage for the next coming years. The […]
Difference Between a Short Sale and a Foreclosure?

Difference Between a Short Sale and a Foreclosure?

When a homeowner realizes that they can’t make their payments, they have a few options. First off, you must consult United Financial Counselors to determine your options and situation. We can help you figure out ways to make partial payments or add your payments to the end of the loan until you are able to […]
As Foreclosures Recede Focus Will Shift in 2016

As Foreclosures Recede Focus Will Shift in 2016

It’s a new year and the US housing market is looking comparatively brighter this year. It has been eight years since the housing market crashed and foreclosures skyrocketed, but in 2016, we will see the foreclosure wave decrease along with the return of a more “normal” real estate market. The continuous downward trend in stressful […]
Foreclosure Defense

Foreclosure Defense

The loss of a home to foreclosure can be disastrous both emotionally, and financially. Note that foreclosure defense is a complex area of the law, and you are firmly recommended to seek the guidance of a reputable company who deals with foreclosure on a daily basis (United Financial Counselors) and an attorney. The aim of […]
Can Your Foreclosure Expire?

Can Your Foreclosure Expire?

The financial crisis has created some bizarre legal scenarios. Usually, we hear horror stories about a family losing their home over a technicality on their contract with the bank. Now, a legal technicality is working in favor of many Florida homeowners in foreclosure. Foreclosure laws vary greatly between states, but in Florida banks must get […]

$10,000 in New HAFA Incentives

When you are underwater or missing mortgage payments, foreclosure may seem inevitable, but there is an alternative. A short sale may save you a lot of stress and put money in your pocket. Even if you are current on your mortgage but looking to lighten your burden, contact Jason Walowitz of United Financial Counselors to […]

Mortgages

Ultimate Facts About 20% Down Payment Conventional Mortgages

Ultimate Facts About 20% Down Payment Conventional Mortgages

What Is A Down Payment? There are many challenges that homeowners face when he or she enters the market to buy a home. The number one obstacle in the process of buying a home is to save enough money for a down payment. What is a down payment you ask? A down payment is a […]
Posted in Mortgages
Home Possible Advantage Mortgage A Smart Choice For First Time Home Buyers

Home Possible Advantage Mortgage A Smart Choice For First Time Home Buyers

According to  NAR, first time home buyers face more obstacles than repeat buyers and account for 1-in-3 homes sold nationwide. One of the biggest obstacles when purchasing a home is saving for the down payment. The second hurdle potential homeowners faced was poor credit history, making it more difficult when trying to qualify for a mortgage. With low mortgage rates and low down payment mortgages available, this post is meant to help first […]
Educate Yourself: Ultimate Insight to Mortgage Taxes in 2017

Educate Yourself: Ultimate Insight to Mortgage Taxes in 2017

For many Americans who have a mortgage on their homes, their mortgage represents the largest debt they’ll ever owe. This debt is why the federal government is encouraging big tax breaks for homeowners.  Educate yourself on how to take full advantage of these tax breaks. Mortgage interest deduction For mortgage borrowers, the biggest tax break […]
FHA Mortgage Rates Touching Highest Peaks For Homeowners

FHA Mortgage Rates Touching Highest Peaks For Homeowners

According to the Mortgage Bankers Association (MBA), for the first time since 2006, FHA mortgage delinquencies jumped in the fourth quarter to 9.02% from 8.3% in the third quarter. This troublesome signal in the housing market could put taxpayers at risk. MBA CEO David Stevens said: “We had been experiencing great credit quality for so […]
What Do Lenders Look For When Applying For A Mortgage?

What Do Lenders Look For When Applying For A Mortgage?

It’s January and the New Year is now in full swing. For those who plan to purchase a home this year, it’s time to educate yourself, start planning, and get moving! There are certain “healthy habits” you need to implement before purchasing your dream home. Habit No. 1: Accumulate your down payment or seek a […]
Millennials, Mortgage Rates, And Major Factors That Influence 2017 Housing

Millennials, Mortgage Rates, And Major Factors That Influence 2017 Housing

Market The rise of mortgage rates and increasing home prices will influence the U.S housing market in the upcoming year. Continue reading to educate yourself about some additional factors that will also affect the market in 2017. Mortgage Rates Will Continue To Rise In the past few days, we have noticed the increase in mortgage rates that is […]
Tips To Consider When Applying For A New Mortgage

Tips To Consider When Applying For A New Mortgage

Qualifying for a mortgage is fairly a transparent process and should not be a mystery to borrowers.  As an applicant, you should be thinking about every aspect of your life that may prevent you from getting a mortgage loan. That statement is accurate in that prior to lending you money, mortgage lenders review many factors prior to offering […]
Tips To Rush Your Mortgage Loan To The Closing Table

Tips To Rush Your Mortgage Loan To The Closing Table

Quick Closings: How to Prepare There are many reasons in which a buyer would prefer to close a mortgage loan quickly. A fast closing can make your life easier in that you have a smooth and quick transition.  Second, quick closings appeal to sellers who are primed and prepared to move. Quick closings also can […]
Why Buyers Shouldn’t Be Afraid Of Rising Mortgage Rates

Why Buyers Shouldn’t Be Afraid Of Rising Mortgage Rates

According to Freddie Mac, the average mortgage rate for a 30-year fixed period rose to 4.16 percent, compared to last week rate of 4.13 percent. However, a year ago, fixed-rate mortgage was around 3.97 percent. Mortgage rates are rising steadily, but this is not something buyers should panic about because rates are still not too […]
Mortgage Advice for Retirees

Mortgage Advice for Retirees

A comfortable retirement is a blessing! One cardinal rules of a peaceful retirement is to consider paying off your mortgage before quitting the job. Loss of income while paying towards a huge debt can affect you not only physically but mentally. Paying off your mortgage debt years  prior to your  retirement can help you keep […]