The DTI is the percentage of our income that goes toward paying our monthly debts. These ratios can often be overlooked as many people assume that a good credit score and income are the only two elements taken into consideration when seeking to purchase a home, car, or even to open a credit card. However, for many lenders, a good report and credit score are not enough to be considered a suitable candidate.
American Financial Solutions Blog
Homeowners with mortgages owned or guaranteed byÂ Fannie MaeÂ orÂ Freddie MacÂ may be eligible for different repayment options following their forbearance. Fannie Mae and Freddie Mac do not require a lump sum payment at the end of the forbearance.
Federal Housing Administration FHA Mortgage Forbearance repayment options.
For many people, the month of February 2021 will mark the end of their mortgage forbearance under the CARES Act. This leaves many questions about how to manage missed payments and what will happen if someone cannot pay those accumulated amounts. This article will help explain the choices people have to manage their mortgages.
Itâ€™s always the right time to create a saving and spending plan (aka a budget). Itâ€™s also a good idea to revisit that plan annually or when a major shift occurs in your income or expenses.
Although November 27th is the traditional kick off of the holiday season, decorations of all kinds are already flooding the retail stores and advertisers are working hard to put us in the â€œspending moodâ€ earlier and earlier every year. This creates an opportunity to make a spending plan that will get us through the season and help keep it meaningful.
The past seven months have been a financial game changer for many people. Some were struggling to make ends meet prior to the pandemic, and other financial lives where knocked off balance as our world changed. With this blog, we share some practical strategies on how to move forward financially and avoid the aftershocks from the changes in our finances.
What you need to know about the national eviction moratorium and how to ensure you are protected. LInks to sample document to provide to landlords.