Under the Public Service Loan Forgiveness (PSLF) Program, you might be qualified to have the remaining balance of your Direct Loans forgiven if you: Use the PSLF Help Tool to find an employer that qualifies, learn what steps you might need to take to qualify for PSLF or Temporary Expanded Public Service Loan Forgiveness (TEPSLF), … Read more
You must pay interest on the amount you borrow when you take out a 401(k) loan. Find out the interest rates on 401(k) loans that you can anticipate. 3 min read. You are using the retirement funds you have been saving for retirement when you take a 401(k) loan. Since you are using your own … Read more
Loan officers can assist in accelerating the underwriting procedure during periods of high mortgage volume by paying attention to a few straightforward steps when submitting a borrower’s loan information. I was a mortgage underwriter for 20 years. I am aware of the steps necessary to quickly approve a mortgage loan from the viewpoint of an … Read more
When considering financing options for your small business, you’ll probably come across two repayment plans. One arrangement might mandate that you pay back your debt in equal monthly payments. The alternative structure might enable you to make repayments on your own terms. Other terms may be used to describe the latter category, leaving you to … Read more
Some inquiries I’ve received about mortgages and loans in general concern whether it’s a good idea to make additional principal payments. Please feel free to download the Extra Mortgage Payments Calculator for Excel and continue reading this page if you have any similar questions. Advertisement. Why Make Extra Mortgage Payments? There may be many reasons … Read more
Recently we moved houses. And with the house move, came a brand new mortgage. But I find it a little difficult to accept the steady nature of mortgage payments as a self-employed person with variable income. I therefore wanted to know what effect making arbitrary additional payments would have on my mortgage. Unfortunately, I couldn’t … Read more
I paid close attention as a 90-year-old man explained that corrections were inevitable, drawing on his experience of surviving (and prospering) through seven complete real estate downturns. Although some lunar tides reach higher or retreat further, a housing market crash is as inevitable as an outgoing tide. This feels like a lunar tide to me. … Read more
Mortgage companies and lenders frequently sell the home loans they create to raise additional funds for lending to other borrowers. In addition, servicing rights that are unrelated to the underlying loans are frequently bought and sold. Throughout the term of your loan, a transfer could occur at any time. Your loan was probably one of … Read more
A mortgage pre-approval is a written affirmation of how much money you are eligible to borrow in order to purchase a home. Pre-approval can put you ahead of unapproved buyers in a competitive market because it demonstrates that you won’t have any trouble obtaining financing for the amount you’re offering. Pre-approval letters include an expiration … Read more
Note from the Editor: This article’s content is solely based on the author’s opinions and suggestions. It might not have received approval from any of our network partners through reviews, commissions, or other means. You might be curious about the tax repercussions of a reverse mortgage and whether the money you receive is taxable if … Read more