3. The loan-to-value (LTV) ratio is too highLenders also look at how much of a mortgage you want vis-à-vis the value of the home you’re buying — something called the loan-to-value (LTV) ratio.The bigger your down payment, the less you borrow, and the lower your LTV. For ...
Another common problem is coming up with the necessary funds to close your loan. Generally, you need both down payment money and reserves for a certain number of months to show lenders you can actually pay your mortgage. If you aren’t able to come up with the money, you could be denie...
You lack a realistic repayment plan. You strive to keep up with the Joneses – no matter the price. Read: What Is a Good DTI for a Mortgage? Read on for a closer look at the habits keeping you in debt and expert tips for preventing poor spending and saving patterns from wreaking havoc...
If you're entering the home market soon, experts say this is a good time to get pre-approved for a mortgage.
The Mortgage Loan Modification Plan, which sought to help homeowners stave off foreclosure, has barely made a dent—of the $30 billion the government intended to spend on the program, just over $1 billion has been disbursed. In a December 2010 report, the Congressional Oversight Panel for ...
You insist on living somewhere with a high cost-of-living even though your income (or lack thereof) can’t support it. You fail to understand that debt is a mortgage on your future. Your priorities are all screwed up. You live in a larger home than you can reasonably afford....
While every retiree’s situation is different, experts say clearing mortgage debt is preferable, but not always advised. Brian O'ConnellJan. 15, 2025 Pay Off Your Mortgage in Retirement? For retirees, these Canadian cities offer scenic beauty and amenities to enjoy. Kathleen Peddi...
One of the most common reasons to file taxes early is to receive afaster tax refund. Filing your return electronically with direct deposit into your bank account is the fastest way to get your refund. It can take up to several weeks longer for paper returns,so it is always better to e-...
Making a budget is the most important thing you can do to manage your money, but many people are reluctant to take this beneficial step. You may associate budgeting with restrictions and a lot of hassle and headaches. Or you may feel like you do not make enough money to warrant a budget...
Common reasons that people file for bankruptcy include loss of income, high medical expenses, an unaffordable mortgage, spending beyond their means, or lending money to loved ones. Often, bankruptcy is a result of several of these factors combined. ...