Did you have a foreclosure? Did you feel like you were alone? You might be surprised to find out how many people had foreclosures in recent years. During the economic recession many people suffered from events out of their control, such as job loss, reduction in wages, or serious medical issues resulting in overwhelming bills. These financial hardships made it impossible for people to keep up with their mortgage payments. In fact, in 2011 nearly 4,000,000 people experienced a foreclosure. Four million – that’s a lot of people! In comparison, prior to the recession, in 2000, about 500,000 people foreclosed on their home. The recession obviously impacted millions of Americans and resulted in millions of foreclosures. You are not alone!Read More..
Are you regaining financial stability and considering looking for a new home but concerned about what lender will help you? Are you concerned that you will end up with a loan that you won’t be able to manage long term? At 1st Alliance Lending we take pride in helping people who have recovered from a financial hardship create a sustainable loan so they can look forward to living in their new home for the long term. Here are the reasons we are the back to work mortgage lenders you should select as your partner for the life of your mortgage.Read More..
#1 – Staying Power
As you begin your journey on the first time homebuyer path, you’ll begin to see how the process can take a long time. Lots of paperwork, financial disclosures, and state policies are just a few of the important steps involved with buying your first home. At 1st Alliance Lending, we put you first—and keep you first! We don’t bring you into the office to discuss options and possibilities only to leave you hanging when the paperwork gets rough or the lending options change. Our lending agents are trained to have the staying power to journey with you the entire way!Read More..
During the financial crisis that gripped us during 2008, millions of homeowners had to deal with things they never thought they would have to consider. Some had to file bankruptcy in order to keep their financial house in order, others lost their homes to foreclosure and still others dealt with the financial crisis by selling their homes under a short sale agreement. Unfortunately, under previous regulations, most of these homeowners were doomed to be ineligible for a loan for periods of up to ten years. However, in 2013, the FHA offered some relief to these homeowners by offering the FHA Back to Work program.Read More..
Going from being a renter to being a homeowner is a big step and one that people work hard towards. In addition to saving money for your down payment, there are other items that are critical when buying a first home including:
1. Your credit report – if you are considering buying a home, it is a good idea to obtain your credit report and review it for potential errors and problem areas. Keep in mind, the better your credit score, the better terms you may get on your mortgage.Read More..
Recently, FHA has eased lending rules for those who have experienced bankruptcy or a prior foreclosure. Though the economic downturn has caused extreme financial hardship over the past few years, this olive branch from the FHA could help potential borrowers finally get back into a home of their own.Read More..
Sometimes, we all need a second chance, especially if we have been crushed by a financial crisis. Let’s face it, while many people lost their jobs during the latest recession, thousands more have returned to work and are working on rebuilding their financial lives. However, before you can approach Back to Work Mortgage Lenders there are very specific things you must do in order to qualify for a new loan. Some of these include:Read More..
Are you ready to purchase your first home? Congratulations! It is a big step. You have a lot to consider. Where do you want to live? How big of a house? How much land? Don’t forget to also consider who you want to help you along this path. At 1st Alliance Lending we specialize in helping buyers purchase their first home.Read More..
Every person who begins their house hunt with, ”I had a foreclosure” must consider what caused the foreclosure and how many home lending programs work to ensure that the home shopper can get a mortgage in spite of difficult circumstances.Read More..
Did you avoid foreclosure on a previous home by conducting a short sale instead? Wise choice! You resolved your debt, avoided court and minimized the damage to your credit. Now are you getting back on your feet and considering your options? Are you ready to find a new place to call home?Read More..