PMI or Private Mortgage Insurance insures lenders against losses when they have to foreclose and can only sell their foreclosure properties for less than the loan balances. Most lenders now require PMI whenever they lend more than 80% of the appraised value of a property. Some lenders will even lend as much as 95% of appraised value so long as the borrower secures private mortgage insurance.
(Most states require sellers to fill out a disclosure form or disclose material facts about the property. To…
If you have been denied credit in the past 30 days, you have the right to request a…
A recent study by the Consumer Financial Protection Bureau reported the results of a year-long study to identify…
The Right of Rescission is a protection given to borrowers under the Truth in Lending Act. This right…
Once you have opened escrow and given the escrow officer the details of your purchase, you will next…
Under the direction of the Consumer Finance Protection Bureau (CFPB), lenders must give borrowers two important disclosure forms…
