As the ranks of the unemployed have swelled, homeowners have signed up for mortgage forbearance programs that let borrowers delay payments or make partial payments while they wait for their financial situation to improve. But there’s been mass confusion over how borrowers will pay back what they owe. And the fear of a looming lump-sum […]
No Limits on VA Loans
Veterans and military on active duty hoping to buy a home in expensive parts of the country have a lot to be thankful for this holiday season. Starting next year, they’ll be able to take out VA-backed mortgages as large as their bank accounts will allow. Thanks to the Blue Water Navy Veterans Act of 2019, […]
Shutdown a Headache for Lenders, Homebuyers
The federal government officially kicked into partial shutdown mode in December, and the IRS and other government agencies remain mostly closed. Among the side effects of which you may not be aware: delays in financing or refinancing mortgages and other loans. As part of the IRS shutdown, the processing of tax transcript requests is limited […]