Summer Home Selling Safety Tips You May Consider in the New Normal

Summer is just around the corner and it seems nothing can stop serious homebuyers from fulfilling their homeownership dreams even during a pandemic. If you’re planning to put your home on the market, it’s important that you practice safety measures to ensure that your family and potential homebuyers are protected from the coronavirus disease of 2019 (COVID-19).

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How Would You Know if it’s the Best Time to Cash-Out Refinance?

Mortgage interest rates are at tempting levels that could make you wonder if it’s the right time to reap the rewards of your investment as a homeowner. Cash-out refinancing could be an option if you want to take advantage of the historically low interest rates and augment your finances especially during this difficult time as the nation deals with a health crisis.

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Open House Tour Safety Protocols Every Homebuyer Should Consider

More homebuyers are now ready to attend open houses compared with those who rely on virtual home tours. Although virtual tours are convenient and safe in this time of the coronavirus disease of 2019 (COVID-19) pandemic, attending an open house in-person lets homebuyers get to experience what it feels like while inside the home that they want to buy.

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5 Actions You Can Take if a Lender Denies Your Loan Application

Serious homebuyers know the importance of getting a mortgage pre-approval first before touring a prospective home. Getting a mortgage pre-approval means that a lender has thoroughly checked and verified your credit, and for a period of time, determines that you could borrow the amount you’re applying for to buy a home. Lenders, however, have recently become stricter with lending requirements because of the uncertainty that this COVID-19 pandemic brings where millions of people have filed for unemployment claims.

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What Struggling Homeowners Need to Know About Dual-Tracking

Homeowners must notify their mortgage servicer or lender immediately if they experience financial hardship and find it difficult to repay their monthly mortgage. Working out with your servicer is important if you want to protect your home from foreclosure especially during this time that the federal government has declared a national emergency against the COVID-19 pandemic. Applying for any loss mitigation like a loan forbearance could be an option to keep your family safe.

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3 Ways You Can Ditch Private Mortgage Insurance

When you take out a conventional mortgage to buy a home, your lender will require you to pay a premium for a private mortgage insurance (PMI) coverage if you opt to put a low down payment. Like the majority of homebuyers, a PMI gets you an approved mortgage that you would barely qualify to take. After several years of repaying your monthly mortgage, you’ll realize that your PMI becomes a burden and canceling it could help increase your savings.

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