You have saved the 10%. You have found the house of your dreams. Now what do you do? In 2023, the mortgage application process is as perplexing as ever, especially if you are a first-time buyer. It seems that whether you are applying for an interest-only mortgage, or a fixed-rate […]
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What you Need to Know if You Are a Guarantor of a Mortgage or a Lease
Many banks require a guarantor when granting a loan to buy a home, but there are also landlords who request a guarantor for new leases. In this article, we will present what the guarantor needs to know about this standard procedure on the real estate market, which also has its risks. […]
Personal Insolvency Agreement: What Should You Know?
When we talk about bankruptcy, you must have often heard about personal insolvency as well. It is a legal binding agreement between a debtor and creditor to pay the debt in full, or in installment, or as an agreed lump sum amount. PIA or Personal Insolvency Agreement is a flexible […]
What Happens When a Mortgage Goes to Underwriting?
Underwriting is the structured process by which financial institutions like banks and lenders determine and price the risk posed by potential borrowers in repaying a mortgage loan. Essentially, it is a systematic and detailed analysis of a borrower’s creditworthiness. The mortgage underwriting process consists of many stages from information gathering […]
What Bankruptcy Can & Can’t Do for Personal Finances
Bankruptcy can do many things for your personal finances. Chapter 13 can do even more than Chapter 7 for many individuals. However, bankruptcy is not always the best solution or a complete solution to debt problems. You should learn everything you can about bankruptcy options and alternatives to bankruptcy before […]
It starts at home: 5 personal finance steps before starting a business
As the newspapers keep on reminding us, more and more people are starting their own business. There can of course be umpteen reasons behind this; nowadays for example you don’t need the bricks and mortars establishment that you once did, and the internet has most certainly made things much easier. […]
Simple Ways to Address Your Personal Finances Before Getting Married
Throughout the course of your life, you will come across a variety of major changes that impact all other areas of your life at the same time. One of these areas that will undoubtedly be affected, when you go through a big life change, is your personal finances. For example, […]
6 Things You Should Know Before You Sign Your Mortgage
Your home is the single biggest purchase you will ever make, though college tuition is a close second. The mortgage loan is the largest single loan almost all of us ever sign, and ignorance truly costs you. Here are six things you should know before you sign your mortgage. How […]
4 simple ways to use your mortgage as a financial planning tool
Like scheduling biannual visits to the dentist, it’s something most of us know we should be doing but aren’t: planning our financial future. The reason so many of us shy away from creating even a rudimentary plan that could guide us toward our next financial goalpost? Financial planning sounds a […]
How Mortgage Interest Arises
To get a feel for the development of real estate interest rates, it is important to deal with the refinancing of the mortgage banks. Mortgage banks primarily issue related forms and other forms of borrowing to cover their financing requirements. Banks need to think in the long term A mortgage […]
Five Topics of Interest When Creating a Personal Finance Blog
The goal of becoming financially independent or debt-free is something everyone would like to accomplish. At the same time, millions of people are searching online for new solutions and ways to get out of debt every day. One of the most common resources for such information is through blogs and […]
Things You Need To Know About Mortgage Lending
Owning a home is a dream many people have. The first place to start is to determine what you can afford. Take into consideration insurance, maintenance and possible repairs the house may need. Speak to several lenders to find out what kind of financing you quality for. Take the time […]