Financial Facts and Myths

(Source: CFPB) – Sometimes people in the military have interesting beliefs about things that impact their finances. Sometimes they’re correct; sometimes they’re partially true; and sometimes they’re just flat wrong. Check out the statements below – hit or myth? (more…)

How Many Homeowners Actually Own Their Homes?

(Source: U.S. Census Bureau) — Sunday, February 24th.  Even with the ongoing difficulties in the housing and mortgage industries, the American dream is still defined by many as owning your own home.  Across the U.S., just over 65 percent of households own their homes, a decline of more than 1 percent since the year 2000.  Among the states, the highest percentage of home ownership is in West Virginia, at more than 73 percent, while the lowest rate is in New York, at just over 53 percent.  And New York City tops the nation in the highest percentage of renting households, at 69 percent.  Among the nation’s 37 million African-Americans, around 45 percent live in their own homes, while 20 million are renters.  You can find more facts about America from the U.S. Census Bureau, online at www.census.gov. (more…)

Purchasing a HUD Home

(LoanSafe.org) – HUD homes are 1-to-4 unit residential properties that are acquired by HUD through foreclosures on an FHA-insured mortgage. Through the process of foreclosure, HUD acquires these properties and then offers them for sale in an attempt regain losses from the default.   (more…)

Find Out Who Owns Your Mortgage

Mortgages are loans which are used to buy a home. They can range from small amounts to very large amounts, and can be very confusing for individuals who have not studied real estate. It’s confusing enough dealing with all of the ins and outs of a mortgage, but you should at least be able to answer one question; Who owns my mortgage? (more…)