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What is PMI? PMI is an insurance policy you pay for that protects your mortgage lender from financial loss if you stop making your mortgage payments. And depending on your credit score, your down paym...
Alternative payment programs can help you avoid foreclosure
Are you having trouble making your mortgage payments? Do you think you could be facing foreclosure? There’s good news: We’re committed to helping you avoid foreclosure, and we promise to do everything...
Additional Mortgage Help Resources
List of Homeowner Assistance Fund Programs by State Alabama Agency: Alabama Housing Finance AuthorityAlabama Program Website Alaska Agency: Alaska Housing Finance CorporationAlaska Program Website ...
How to avoid late payments and late fees
Sometimes life throws you a financial curveball, and suddenly it looks like your mortgage payment might be late. A common myth says that “one late payment won’t hurt your credit score.” But the truth ...
Use autodraft payments to save money and time.
Almost everyone makes a late payment from time to time. So it’s no big deal, right? In fact, a late payment can be a bigger deal than you might think. A recent survey found that almost 4 out of 10 A...
Unless you have a mortgage loan, “escrow” is a word you may not be familiar with. But in the mortgage world, you hear a lot about it. Thankfully, escrow is not hard to explain—or understand. So let’s ...
Understanding your mortgage payment
For most people, buying a home is the biggest and most complicated financial transaction of their lives. Mortgage payments can also be big and complex, with multiple parts that can change over time. Y...
“Delinquent” is a Latin word that dates back 2,000 years—and it basically means “falling short”. Your mortgage loan is considered delinquent when you fall short of making your payment by its due date....
Lender-placed insurance? We answer your most common questions.
Getting a mortgage loan means taking on several legal obligations—one of which is your responsibility to buy and maintain homeowner’s insurance. If your mortgage has an escrow account, it’s pretty eas...
If you don’t work in the mortgage-servicing industry, you may not be familiar with the term “loss mitigation.” But if you ever stop making your mortgage payments, you’ll hear it often. That’s because ...