Mortgage Information
Struggling To Make Your Mortgage Payments? | Buckfield Maine Area Homes For Sale
Here is a good resource for anyone struggling to make mortgage payments. Fannie Mae recently launched KnowYourOptions.com, a consumer education site that offers guidance on how to contact and work with their mortgage company to find solutions.
Know Your Options™ offers reliable and easy-to-understand information to help borrowers find alternatives to foreclosure. It focuses on finding solutions that work for their particular circumstances.
KnowYourOptions.com includes:…
…Read the whole story via Struggling To Make Your Mortgage Payments? | Buckfield Maine Area Homes For Sale.
New Lending Guidelines Benefit Young Borrowers | New Gloucester Maine Homes For Sale
New rules for Fannie Mae loans took effect on Dec. 13 could make it easier for some new homeowners to secure a mortgage, but perhaps more difficult for others.
One new rule will now allow buyers to use gifts for their minimum 5% down payment. At the same time, Fannie Mae will become stricter in regards to debt-to-income ratios, most notably their new maximum debt ratio: It will drop from 55% to 45%. They will also take a closer look at payment histories on revolving debt — adding 5% of the buyer’s total balance to their debt ratios if payments were missed. This is another reminder that it is very important for someone thinking of a new home to be super-diligent on making timely credit card payments.
You’ve Found The Perfect Home … Now What?
You’ve found the perfect home … now what?
Let’s just say you and I have been looking around Androscoggin County, and you’ve found the perfect home for your family. We’ve negotiated a price, and the sellers have agreed to your offer. Now what? You need to find the perfect lender!
I can refer you to a few local mortgage companies and banks that are reputable and easy to work with. I recommend that you do a little comparison shopping first. You want to work with someone you can trust. To help you out during this process, I will receive periodic updates from whichever firm you select. I want to make sure details will be done in a timely manner, to prevent any last-minute challenges that could postpone your closing date. I look forward to guiding you through this process! Call or email Sue at Sue@meservier.com or 207-784-2525
Meservier & Associates of Keller Williams Realty Mid Maine www.Meservier.com
Changes in the lending market and how they could affect you | Gray Maine Homes For Sale
Recent changes with Fannie Mae and Freddie Mac have made qualifying for a home loan a little more challenging for a lot of buyers. Some of my real estate networks predict that HUD might soon adopt similar guidelines for…
…story via Changes in the lending market and how they could affect you | Gray Maine Homes For Sale.
Sue Meservier
Meservier & Associates
The Maine Real Estate Network
34 Center Street
Auburn, ME 04210
office: 207-784-2525
email: agent@meservier.com
Follow @suemeservier
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