For many, owning property is seen as a rite of passage. At the same time, for most people, accomplishing this dream is largely dependent on the approval of a mortgage. For this reason, it is important for people to think carefully when deciding who to ask for a mortgage. Some cities have a higher mortgage approval rate than others.
Nobody enters into a mortgage assuming they are going to fall short on their payments; however, life happens and borrowers might need a way out. In serious situations, lenders may elect to foreclose on homeowners who are unable to make their mortgage payments. Fortunately, there might be another way out. This is called a short sale.
Have you ever seen a scientific experiment with things growing in a Petri dish? This is a metaphor for how neighborhoods grow as well. Things in a Petri dish grow towards the areas that have more nutrition to attract them and repel from areas that have bad things that they do not want.
Did you realize that only around 17 percent of the homes in the United States have a security system? Leaving your residence unprotected can come back to haunt you in the future.
Last week’s economic reports included readings from Case-Schiller Home Price Indices and National Association of Realtors(R) data on pending home sales. The Conference Board of the U.S. Senate also released its Consumer Confidence Index. Weekly readings on mortgage rates and first-time jobless claims were also released.