The Truth About Mortgage Blog
Welcome to a warm, friendly, and most importantly unbiased place to learn about mortgages, ideally before you make contact with a real estate agent or lender. The more you know, the better you’ll feel, and hopefully all that hard work will help you snag a lower mortgage rate too! View all mortgage help topics to get started or check out the latest mortgage tips and news below.
Latest Posts
How Do I Know If Fannie Mae or Freddie Mac Owns My Mortgage?
Quick mortgage tip: “How do I know if Fannie Mae or Freddie Mac owns my mortgage?” One of the key requirements to getting approved under the CARES Act to receive mortgage forbearance is ensuring that your loan is indeed owned ... Read More »
Real Estate Delistings Increase 148% From a Year Ago as COVID-19 Impact Grows
Housing supply was bad before the coronavirus epidemic reared its ugly head, and now it has gotten even worse, per new data from real estate brokerage Redfin. Homes Flying Off the Market 28,140 homes were taken off the market before ... Read More »
Generate a Mortgage Forbearance Request Letter with This Free Tool
You may (or may not) have heard that the CARES Act is allowing a huge chunk of homeowners to request forbearance for six to 12 months of mortgage payments. If you haven’t heard, you can review the details here, but ... Read More »
How Many Homeowners Are Expected to Miss Mortgage Payments Due to Coronavirus?
It’s the first of the month, and with that comes fear and uncertainty that both homeowners and renters won’t be able to make payments due to loss of income related to the coronavirus. While it’s not clear how bad things ... Read More »
I’ve Been Offered the Opportunity to Skip Two Mortgage Payments
So I received an unmarked piece of mail the other day, and whenever that happens, I know it’s going to contain some kind of nonsense. Upon opening the letter, which I could have easily just thrown away, I discovered that ... Read More »
Noah: A Home Equity Sharing Product
A newly named company called Noah (formerly Patch Homes) lets you access up to $300,000 of your home equity in exchange for future home price appreciation. The arrangement requires no monthly payments or interest, and all they ask is that ... Read More »
Finance of America Mortgage Review: Loan Programs Galore But You Can’t Apply Online
Finance of America Mortgage Quick Facts One of the largest nonbank mortgage lenders Have provided home loan financing since 1994 Now a Blackstone portfolio company Operates via the retail, wholesale, and correspondent channels $16.6 billion in total loan volume in ... Read More »
Wells Fargo Is Forecasting a 30-Year Fixed Mortgage Rate Below 3% for the Rest of 2020
While there’s a lot of uncertainty and doom and gloom in the world right now due to COVID-19, one bright spot appears to be mortgage rates. Sure, they’ve been on a rollercoaster ride of late as lenders grapple with secondary ... Read More »
Clear Capital’s New OwnerInsight Tool Lets Homeowners Fill in Appraisal Gaps
As reported earlier this week, some important pieces of the home loan process have been disrupted by the ongoing and seemingly intensifying coronavirus epidemic. One issue has been home appraisals, which are required for most mortgages and often require a ... Read More »
Fannie Mae and Freddie Mac Roll Out New Payment Deferral Option
To further complicate the complicated mortgage relief picture surrounding the coronavirus outbreak, Fannie Mae and Freddie Mac have released their new “payment deferral” option early. Originally slated to roll out on January 1st, 2021, the pair are encouraging loan servicers ... Read More »
