|How to Conquer Your Fear and Overcome Homeownership Hurdles|
There are many benefits of homeownership. It creates a level of stability in a person’s life and provides a safe environment for children to grow and learn. A home can also have several financial benefits, creating borrowing power for the homeowner and the opportunity to build wealth that can be passed on to children and grandchildren.
|How to Avoid Defaulting on Your Mortgage Payments|
The market conditions have changed quite dramatically over the past twelve months. As a result, some homeowners may stumble upon financial hardships that make it difficult for them to pay their mortgage payments. Once your mortgage loan defaults, the chance of foreclosure increases.
This is because most mortgage early payout penalties are calculated on (1.) three months interest payment or (2.) the interest rate differential whichever is the GREATEST!! Methods of calculating penalties are as varied as the lenders’ imaginations. As a Seller or a Realtor, always remember:
- Do not assume the same lender charges