Watch Out for These Top 10 Red Flags

New paint spruces up walls, but it can also hide flaws. Learn how to spot potential problems.

Mortgages

  • Which season is the best time to be a homeowner? Tax season! Along with the freedom to paint and remodel, tax breaks are one of the many perks of homeownership. The bad news? Unless you choose…   Read the Article

  • If you refinanced your mortgage, the points you paid are not deductible in the year you paid them, unlike the points you paid when you first took out your mortgage. For refinanced mortgages, you have…   Read the Article

  • Forgiveness of debt means a bank or lender forgoes repayment of principal and/or interest that a borrower owes. Forgiven or discharged debt is typically considered ordinary income that is taxable.…   Read the Article

  • Running around from lender to lender in search of the best terms for your mortgage loan can be confusing and time-consuming. Plus, there are deals out there that you, a finance-industry outsider,…   Read the Article

  • These misuses are so common that you need to know them in order to know what the people around you are talking about! I'm in foreclosure. Lenders don't foreclose on people, they foreclose on homes.…   Read the Article

  • For each point you agree to pay at closing, the lender agrees to reduce the interest rate on your loan by a set amount, generally an eighth to a quarter of a percent. This is why paying points is…   Read the Article

  • Loan shopping is as intricate a process as house shopping, and the terminology is often confusing. The terms "pre-qualification" and "pre-approval" sound like the same thing, but they're not. And in…   Read the Article

  • It's hard enough reconciling yourself to the reality of paying the monthly principal and interest on a new home mortgage. When you realize all the expenses that will be added to that price tag, it…   Read the Article

  • No one wants to hear the F word, but in today's market, everyone is talking about it. What exactly is foreclosure and how does it affect you? We break down what you need to know about the…   Read the Article

  • Ask homeowners who have lost their homes to foreclosure and a surprisingly large number complain that they were unaware of important mortgage features when they signed on the dotted line. Whether you…   Read the Article

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