Being your own boss can come with a host of perks such as setting your own dress code (read: pajamas), a flexible schedule and a cubicle-less existence. But one financial benefit — tax write-offs — morphs into an ugly disadvantage when self-employed workers try to get a mortgage.
Imagine, then, the disappointment to learn that your credit scores have gone down, not up, as a result of making that final mortgage payment. Dale commented that his credit score seems to have been hurt by the fact that he paid off his mortgage years ago, and Mel complained that his scores dropped by over 70 points after he paid off his mortgage and another loan. The answer to the second …
Black and Hispanic borrowers who apply for a conventional mortgage are denied twice as often as whites who apply for the same loans, according to Zillow.
Borrowers typically have to provide two years' worth of tax returns, which often don't accurately reflect the take-home pay of self-employed people. “How we qualify self-employed doesn't always agree with how the IRS says you can run your business legally,” says Pava Leyrer, training and development manager at Northern Mortgage Services in Grand Rapids, Michigan. Self-employed people can take …
Mortgage rates in Canada are down and could fall further following the Bank of Canada's 0.25 per cent cut in the overnight lender rate. On the Coast's financial columnist, Mark Ting offers this advice. Fixed mortgages are much more complicated and the penalties can run into the tens of thousands as they are based on a formula called the interest rate differential (IRD).
Now's the time to refinance. More than 7.4 million homeowners stand to benefit from slipping mortgage rates.
Foreclosure and mortgage delinquency rates fell in Cedar Rapids and Iowa City in November compared with the same month of 2013, according to CoreLogic of Irvine, Calif. The rate of Cedar Rapids area foreclosures among outstanding mortgage loans was 0.92 percent for November, a decline of 0.69 percent compared with 1.61 percent in November 2013. Foreclosure activity in Cedar Rapids also was lower …
Fitch Ratings assigns the following ratings for Agate Bay Mortgage Trust 2015-1:
Stonegate Mortgage Corporation will issue a press release to report its results for the fourth quarter and full year ended December 31, 2014 after the market closes on Thursday, February 26, 2015.
NEW YORK ( MainStreet ) — There's some good news on mortgage down payment help: 87% of all U.S. homes qualify. RealtyTrac found that 68 million Americans in 78 million single-family homes are eligible for mortgage down payment programs in their home county, based on price requirements and the potential value of their properties.