4 Reasons A Mortgage Isn’t As Scary As It Sounds

Even once you are well into the home buying game, the word mortgage can be a frightening one. You wonder what it really holds for you and your home buying experience. But it is not nearly as frightening as it sounds. A mortgage is actually a great opportunity for you to get into the house of your dreams. And if you think that a mortgage is impossible for you because of financial barriers, think again! You have options.

1) No More 20% Down On A Mortgage

There is no need to fear that large amount that 20% down would be. There are mortgage programs that have as little as 3-4% down with a credit score of 580! It is easy to back off from the idea entirely when you see 20% but don’t stop exploring your options!Visa-Mastercard mortgage

2) You Don’t Need A Perfect Record

While we’re on the subject of credit, you’d be happy to know that mark on you credit report doesn’t necessarily kill your chances of getting a home loan. A foreclosure or bankruptcy can stay on your credit report for up to seven to 10 years, and it’ll take time to rebuild your credit score after a major ding. However, you don’t have to wait until a negative item falls off your credit report to qualify for a mortgage. It is possible to qualify for a mortgage three years after a foreclosure, and two to four years after a bankruptcy. Even if you’re in the process of rebuilding your credit score, the lender will qualify you based on your credit activity over the past 12 months.

3) You Can Get Help With Closing Costs

Mortgage lenders offer a variety of programs to help buyers qualify for a home loan. Some borrowers worry about the upfront costs of getting a mortgage, and many assume they don’t have enough in reserves to purchase a property. But while getting a mortgage involves down payments and closing costs, assistance is available to help you realize your goal of ownership.

4) There Are Programs To Helphqdefault mortgage

Keep your options open by working with a program to find the best choice for your specific situation. Where are you getting all of your mortgage information resources? There are wonderful sites to help you navigate the mortgage market for you and help you get into your new home!

 

To Fight or Not to Fight an Eviction Notice: That Is the Question

I’m sure Shakespeare may have gotten an eviction notice or two in his time, as he wasn’t exactly the upscale aristocrat of his age. Who knows — maybe he did all right on the rental front! You never know. One thing’s for sure, though…. that eviction notice isn’t the be-all and end-all of your dwelling needs, nor should you freak out so much about it.

The “Good News” About the Eviction Noticereal estate eviction notice

It’s not like you’ll have to pull all your stuff out immediately — like in the next day. An eviction notice is exactly that: a notice, notifying you that in time you may have to vacate the property due to violation of the lease agreement. No harm, no foul — because you’ll have plenty of time to find another rent-to-own home from the H.O.P.E. Program without any stress.

Bear in mind this important fact: if you’ve violated those lease terms, you should not even consider fighting that eviction notice in a court of law. Please don’t. The law won’t be on your side. You can, however, approach your landlord and discuss the issue before it even gets to be official with the courts, and even then, the landlord can seek to drop all action completely — if you appease him or her sufficiently.

So I repeat: that eviction notice isn’t etched in stone. You can change what happens about that eviction notice. Just do it the right way.

The “Bad News” About the Eviction Notice

Be in the know about this as well — because, as much as it does make it difficult, even if you, the tenant, are in the right about combating the eviction notice, and you file a lawsuit, it might not be the best course of action. Sure, you may win against your landlord, and that’s fine and dandy. But think about it….

You still have to deal with that landlord — who will probably hate your guts. No tenant with the best rental tips on hand would want to have to live in a rent-to-own home with a grumpy landlord. Don’t even ask what the consequence would be if you lose your lawsuit….