mortgage lenders: Considering Co-Signing For A Home Loan? Think About It First ...
- 06/02/08 01:34 PM
As mortgage lenders limit how much money they will lend and to whom, co-signing home loans is growing in popularity. "Co-signing" a home loan is when a third-party -- usually a parent or relative -- promises to make repayments to the bank in the event that the borrower falls behind on his obligations. Money experts usually advise against co-signing notes because of the long-term financial risks, but people still do it for a number of reasons including "wanting to help". If you're thinking about co-signing a home loan for a friend or loved one, it's important to consider the implications of … (0 comments)
mortgage lenders: FHA Home Loans Emerge As A Cheap Alternative For Low-Credit Score Homeowners
- 05/24/08 04:53 AM
FHA stands for Federal Housing Administration, a by-product of the National Housing Act of 1934 and now a sub-group within the U.S. Department of Housing and Urban Development (HUD). The FHA is not a lender nor does it build homes. The FHA exists to insure lenders against loss in the event that a homeowner defaults on a mortgage. Mortgages backed by FHA are often called "FHA loans" even though it's somewhat of a misnomer. A more appropriate name would be "FHA-insured" loans because that better describes the FHA's function. With the FHA's guarantee, mortgage lenders are enticed to make loans on … (1 comments)
mortgage lenders: Considering Co-Signing For A Home Loan? Think About It First ...
- 05/05/08 03:55 AM
As mortgage lenders limit how much money they will lend and to whom, co-signing home loans is growing in popularity. "Co-signing" a home loan is when a third-party -- usually a parent or relative -- promises to make repayments to the bank in the event that the borrower falls behind on his obligations. Money experts usually advise against co-signing notes because of the long-term financial risks, but people still do it for a number of reasons including "wanting to help". If you're thinking about co-signing a home loan for a friend or loved one, it's important to consider the implications of … (0 comments)
As mortgage lenders limit how much money they will lend and to whom, co-signing home loans is growing in popularity. "Co-signing" a home loan is when a third-party -- usually a parent or relative -- promises to make repayments to the bank in the event that the borrower falls behind on his obligations. Money experts usually advise against co-signing notes because of the long-term financial risks, but people still do it for a number of reasons including "wanting to help". If you're thinking about co-signing a home loan for a friend or loved one, it's important to consider the implications of … (0 comments)
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