Thinking of availing a home loan or mortgage for the very first time? First time home loan shoppers are highly likely to fall for the sugar words and marketing tactics of banks or home loan providers. The following tips may help you strike the best deal without having to sulk over potential mistakes usually committed […]
What is A Home Equity Loan?
Home Equity Loan Explanation: A home equity loan is an additional (secondary) loan taken against the value of your home. In other words, home equity loans are secured consumer loans for which the collateral would be the borrowers’ equity in their homes. Now, what is home equity? Home equity is nothing but the difference between […]
Home Mortgage Disclosure Act
Home Mortgage Disclosure Act (HMDA or HUM-duh) is a federal act that was enacted in 1975 that requires home mortgage lenders or federal home loan banks in the US to disclose information regarding their lending practices. The importance of Home Mortgage Disclosure Act The information provided as part of this act is beneficial for the […]