Define: grace period Definition: A grace period is the period of time after the deadline for a mortgage payment, during which... read more →
Define: primary residence Definition: A primary residence is the legal residence of a person. A person may only have one primary... read more →
Define: deduction Definition: A deduction is a charitable gift, mortgage interest paid on a loan on a primary residence, business expenses,... read more →
Define: Home Equity Conversion Mortgage (HECM) Definition: A Home Equity Conversion Mortgage (HECM) is a reverse mortgage program offered by the... read more →
Define: arm's length transaction Definition: An arm's length transaction takes place between two parties without an obvious connection to one another,... read more →
Define: non-arms length transaction Definition: A non-arms length transaction is that which takes place between two parties that know each other, such... read more →
Define: renegotiate Definition: To renegotiate a mortgage means to work with your lender to rework your loan terms so that it... read more →
Define: secure (financing) Definition: To secure financing for a property is to both successfully apply and qualify for a mortgage loan.
Define: Fair Housing Act Definition: The Fair Housing Act was signed in 1968 by President Lyndon Johnson. It prohibits home sellers... read more →
Define: fair lending Definition: Fair lending is the practice outlined in the Fair Housing Act of 1968. It prohibits lenders from... read more →
Define: bankrupt Definition: To be bankrupt means that one's outstanding debts are being restructured in order to pay back your creditors.
Define: bankruptcy Definition: Bankruptcy is the state of working through debt with the help of your bank or the government,... read more →
Define: forbearance Definition: Forbearance is an option given to borrowers who are experiencing difficulty making their mortgage payments. It involves the... read more →
Define: mortgage Definition: A mortgage is a loan that borrowers take out in order to purchase a home.
Define: default (on a loan) Definition: To default on a loan means that the borrower has failed to stick with the... read more →
Define borrower Definition: A borrower is someone who works with a lender to secure financial assistance in purchasing or refinancing a... read more →
What Happens If I Miss a Mortgage Payment? Financial stability can be difficult to ensure, as many surprises can come... read more →
Buying a home can be an exciting and incredibly rewarding time, but it can also put you at risk. Making... read more →
As both our nation and the world as a whole becomes more environmentally conscious, pollution and its effects on the... read more →
If you've recently graduated from college, you probably have many new responsibilities and tough decisions to make. One thing you... read more →
In what might be a short-lived decision, the Consumer Financial Protection Bureau (CFPB) has moved to bar many financial firms... read more →
The 1960s were a turbulent time, but they also saw the passage of many landmark pieces on legislation in the... read more →
Non Arm's Length Transactions Buying a Home From a Relative: Common Misconceptions When looking to purchase a home, you may... read more →
Summer is officially here and its time to enjoy endless sun. Enjoy the warm weather with family and friends. Here... read more →
Are you unable to open your closet doors without clothes spilling out? Keeping a closet organized may seem like an... read more →
Florida is the perfect place to enjoy the summer and its warm weather. With beautiful beaches, exotic wild life, sites... read more →
As life changes, your housing needs may change along with it. Whether the kids are out of the house or... read more →
Affordable Areas to Buy a Home in NJ Looking for an affordable home in the Garden State? Be sure to... read more →
Eco-Friendly Tips for the Home Global warming, energy deficiency, and other environmental issues have become considerable concerns lately. Living eco-friendly... read more →
Looking for a home in the historic "Constitution State" on a budget? 5 Affordable Cities to Purchase a Home in... read more →
In a dramatic shift away from traditional monetary practices, FICO and the top credit rating agencies - Experian, Equifax, and... read more →
Using a Personal Loan as a Downpayment on a Home Making the downpayment on a home can be the most... read more →
The United States Department of Agriculture (USDA) assists qualifying borrowers in finding affordable housing. USDA loans provide low-to-moderate income households with... read more →
What are HECM's? Home Equity Conversion Mortgages (HECM) are a special loan offering provided by the Department of Housing and... read more →
The Sunshine state is a great place to vacation, but did you know that there are many affordable ways to... read more →
Different Styles & Types of Homes Buying a home can be arduous and drawn-out, but finding and securing your dream... read more →
After living in the same home for a while you may become bored with it. If this happens, consider... read more →
Hosting your own backyard party can be hard work. Make sure your guests are enjoying themselves a variety of... read more →
FHA: Income Limitations & Qualifications Federal Housing Administration (FHA) loans are loans sponsored and partly backed by the U.S. Department... read more →
If you are looking to move, consider converting your home into an investment property. Why turn your house an investment... read more →
Going down the shore is an essential part of summer life. Local New Jersians and millions of other people from... read more →
Breakdown of VA Loans by State VA loans are mortgage loans that are backed by the Department of Veteran Affairs.... read more →
Looking for a home in the Keystone State? Then look no further. Most Affordable Cities to Purchase a Home in... read more →
There are a variety of reasons to refinance your home, from lowering monthly payments to building your home's equity. There... read more →
Are you planning on hosting people at your home this 4th of July? Make sure you keep your party guests... read more →