Mortgage debt is in on the rise for older homeowners. A recent article on the Equifax Finance blog, “ Older Americans Facing Increased Mortgage Debt,” shares some statistics about this startling trend and what those nearing retirement can do to avoid it. Approximately 33 million Americans over the age of 65 own their homes, making them the age group with the highest[...]
If you are finally ready to get into the market for a new home, there are new regulations that you should be aware of, whether you are a first-time or repeat buyer. If you are back on the market after buying a home in the past, know that the rules have changed significantly since you last applied for a mortgage.[...]
If you are one of the many home buyers hitting the real estate market this spring and summer, you are likely very conscious of your spending and how it will impact your ability to buy a home. However, you may be inadvertently setting yourself up for financial ruin with some common money management slip-ups that consumers make. The financial experts[...]
As a new home buyer, you may be wondering exactly what a USDA home loan is and what type of benefits it can provide. Academy Mortgage knows that the loan process can be confusing and stressful, so they want to make sure you understand your many different loan options, including a USDA loan. Home buyers that are searching in a rural[...]
When we think about getting a mortgage and getting our credit scores in great shape to become an attractive borrower to lenders, we sometimes don't think about the impact our tax situation may have on our ability to get in a new home. But there's a very good reason to make sure your taxes are all in order before you[...]
Having a good credit score is one of the most important elements in a mortgage loan application, and it can determine whether or not you will get approved. As a first time home buyer, the mortgage process can be daunting, and having a firm understanding of how your credit score works can make the process a little less scary. Academy[...]
If you aren’t paying your credit card balances in full each month, you probably see your interest charges on your credit card statement each month, but do you know how those are calculated? When you are building your credit score for a mortgage for your next home, this information is key. The Equifax Finance blog explains credit card interest calculations[...]
We talk about credit scores frequently here because they have a huge impact on your mortgage possibilities, but there are many more reasons to get your credit score as high as possible and keep it that way (whether you are looking to buy an Atlanta new home or you are happy where you are living now). Equifax expert Miranda Marquit[...]
You’ve probably heard that not all debt is created equal; that some debt is good and some is bad. What does that mean? Isn’t all debt bad? If not, what are some examples of good debt and what is bad debt? The credit experts at the Equifax Finance blog answer these questions, how good debt can help you get a[...]
While shopping for an Atlanta new home is a very exciting process, you need to know not only how much you can afford in a mortgage, but how much mortgage you can afford to pay month to month, including all the costs of homeownership. The Equifax Finance Blog has a new article with an accompanying video to help you understand[...]