Little Help Available at Foreclosure

Attention Charlotte area home owners:

If you are behind on your mortgage payments 30, 60 or even 90 days, do not wait to ask for help! Often times as a
mortgage lender in Charlotte, I get calls…

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PMI Companies: “680 or Better Please”

If you are seeking 100% mortgage financing with conventional lending, you better get ready to come to the table with solid credit. While Fannie Mae is still offering 100% mortgage loans for Charlotte home purchases, private mortgage…

Posted in Buying a Home, Mortgages, Refinance No Comments »

partial payment
A payment that is not sufficient to cover the scheduled monthly payment on a mortgage loan.

payment change date
The date when a new monthly payment amount takes effect on an adjustable-rate mortgage (ARM) or a graduated-payment adjustable-rate mortgage (GPARM). Generally,…

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Fair Credit Reporting Act
A consumer protection law that regulates the disclosure of consumer credit reports by consumer/credit reporting agencies and establishes procedures for correcting mistakes on one’s credit record.

fair market value
The highest price that a buyer, willing but not compelled…

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debt
An amount owed to another. See installment loan and revolving liability.

deed
The legal document conveying title to a property.

deed-in-lieu
A deed given by a mortgagor to the mortgagee to satisfy a debt and avoid foreclosure. Also called a “voluntary conveyance.”

deed of trust
The…

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