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It’s simple: You want to own a home. But we know the finances can be much more complicated than that. From adjustable rate mortgages to home equity lines of credit, ask CFPB your questions about mortgages. Find a question by searching, or by browsing this complete list. Select topics on the side to narrow your results.
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You can send a QWR to ask for information regarding the servicing of your loan or to dispute errors about your loan account for first mortgages, but not for second mortgages or lines of credit. You should try to resolve ...
You can send a written request to your servicer asking for information about the identity of the mortgage loan note holder. The servicer is obligated to provide you, to the best of its knowledge, with the name, address, and telephone ...
Most reverse mortgages today are insured by the Federal Housing Administration (FHA), as part of its Home Equity Conversion Mortgage (HECM) program. The HECM program offers several product options. Loan type. Borrowers have a choice between two types of loans: A ...
No. When you take out a reverse mortgage loan, the title to your home remains with you. You must continue to pay for repairs, property insurance, and taxes. When your move out, sell the home, or the last surviving borrower ...
Foreclosure processes differ by state. If you are worried about foreclosure, you should call the CFPB at 1-855-411-CFPB (2372) to be connected with a U.S. Department of Housing and Urban Development (HUD)-approved housing counselor.Typically, once you fall three months behind ...
A short sale is a sale of your home for less than what you owe on your mortgage. A short sale is an alternative to foreclosure, but requires you to leave your home. If your lender or servicer acting on ...
Yes, you may be eligible for a VA loan. Because of the Veterans’ Benefits Improvement Act of 2008, veterans who would like to refinance their existing non-VA mortgages into a VA loan may be eligible to do so for up ...
On March 6, 2012, the President and the Federal Housing Administration (FHA) announced price cuts to FHA's Streamline Refinance Program. The cuts will be available beginning June 11, 2012. To qualify, you must be current on your existing FHA-insured mortgage, ...
Some fees are limited and some are not. Most reverse mortgages today are insured by the Federal Housing Administration (FHA), as part of its Home Equity Conversion Mortgage (HECM) program. Upfront charges for a HECM loan consist of the upfront ...
A subprime mortgage carries an interest rate higher than the rates of prime mortgages. Prime mortgage interest rates are the rates at which banks and other mortgage lenders may lend money to customers with the best credit histories. Prime mortgages ...
