Spouse’s Bad Credit Killing Hopes of a Mortgage? Save Your Home and Marriage!

AntonioGuillem/iStock You probably didn’t think to run a credit check on your spouse before you got married. After all, love reigns supreme, right? But when it comes time to buy a home and your lender reveals serious issues with your spouse’s credit, things can get awkward fast. Whether your spouse went on a few credit […]

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How to Get a Mortgage With No Credit: A Ray of Hope for ‘Invisibles’

courtneyk/iStock; realtor.com Trying to buy a home with bad credit is hard. But what about trying to buy a home with no credit at all? There’s a name for these people: “credit invisibles.” It means they don’t have a credit report or score on file with the three major credit bureaus (Equifax, Experian, and TransUnion), usually because they don’t have a traditional […]

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Here’s What You Need to Know About Getting a Mortgage With ‘Paper Losses’

carterdayne/iStock You probably already know qualifying for a mortgage requires an acceptable credit score, sufficient assets and stable income. All of these show you can support a mortgage payment, plus other liabilities. But what if you have “paper losses” on your tax returns? The mortgage process can get a little trickier. Here’s what you need to know. You […]

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Is a Pre-Qualification Letter Enough to Get Your Foot in the Door? Don’t Count on It

designer491/Shutterstock A pre-qualification letter is an official document a mortgage lender will give you once you decide you might want to borrow money from the lender. But how much will that letter actually boost your chances of successfully making an offer on a house? Experts say it offers very little help. “I tell most people they can take […]

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6 Questions First-Time Home Buyers Never Ask Themselves (but Really, Really Should)

Shutterstock; realtor.com There’s a certain point in the lifecycle of renting where you say to yourself: I just can’t do this anymore. Maybe it’s the upstairs neighbors, who relentlessly stomp dance moves across their apartment into the wee hours of the morning. Maybe it’s the numbingly dull white walls you’ve stared at year after year. Or […]

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What’s the Difference Between a Short Sale and Foreclosure?

Jacob Kepler/Bloomberg via Getty Images Two options for homeowners who fall behind on mortgage payments are a short sale and foreclosure. While the prospect of losing a home is a hard reality that many people face, it’s important to understand the difference between these two processes. How long do short sales and foreclosures take? Which is […]

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What Are FHA-Approved Condos?

RJ Sangosti/The Denver Post via Getty Images Federal Housing Administration condominiums are properties that can be purchased using FHA loans—or loans that are insured by the FHA. What requirements must these condos meet to be approved by the FHA? And where should you go to search for available properties? The answers to these questions and more […]

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Buyer Blocks: 4 Factors Keeping Millennials From Owning a Home

mj0007/iStock Since the market crash, many prospective first-time home buyers have been fighting an uphill battle on their path to homeownership. Certainly it isn’t for lack of trying. While millennials might be the largest group of first-time buyers, according to the NAR, they face a whole slew of daunting challenges before they can sign on the dotted line. […]

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Can You Buy a House Without Your Spouse? The Pros and Cons

aslseeit/istock Can you buy a house without your spouse? That might seem like a weird and highly unromantic question, but there are plenty of reasons to ponder this possibility. Basically, this means that although you two might live in the home together, only you would technically “take title” to the property—a fancy way to say that you own […]

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