Getting your first mortgage loan is a lengthy process characterized by tons of paperwork, inquiries into your finances/life/profession, and ever-changing state and federal policies. It’s extremely important to find and work with a lending agent who understands all of these things and who has the ability to navigate the tricky system with your unique set of circumstances.Read More..
The Federal Housing Administration (FHA) was launched in 1934; its primary role being to insure mortgage loans made by FHA approved lenders. Loans are insured by the FHA in each of the 50 states, in the District of Columbia, and throughout all U.S. territories. Since its inception, it has grown to become the largest insurer of mortgages in the world. In 2007, when the global real estate market began to decline, the mortgage and credit crisis that soon followed resulted in low introductory rate mortgages reverting to regular interest rates. That reversion found many folks in hardship to meet their monthly mortgage payments, which unfortunately resulted in foreclosures on countless homeowners across the country.Read More..
If you had a foreclosure, you may still be feeling rattled. Foreclosure is a traumatic experience that takes a toll on you mentally, emotionally, and financially. Losing your home means losing stability, your heart, and your safe-haven.
But don’t fret. Research has shown that many buyers return to the market in as little as two years after foreclosure. Bouncing back in such way that they earned the endearing nickname “boomerang buyers.”
So no matter your situation, it’s important to remember that there is life after foreclosure. Here are some strategies to help you.
Buying your first home is an important milestone in your life, and here at 1st Alliance Lending, it’s a privilege for us to partner with you to help turn your dream of owning a home into a reality.
You’ve probably heard about first time home buyer’s programs, and you might be wondering if you’re a good fit, since you’re looking to buy your first home. You’ll be happy to hear you’ve come to the right place. Let’s take a closer look at what goes into a first time homebuyer’s program, and we’ll see if it’s a fit for you.Read More..
If you’re like some families in the United States, you may have suffered a foreclosure because of a job loss recently. The economy sent many families into financial crisis, and unfortunately, foreclosures were much too common for a large percentage of our country.
Now that some time has passed, hopefully you’ve been able to recover a bit from your financial hardships during that time. Many families have found that a more stable economy, along with a growing number of available jobs have made it much easier for them to cover their expenses, and even get caught up on some of those older bills they weren’t previously able to pay.Read More..
Most of us can remember the smell of our mom’s cooking, or bringing home our first pet, or the excitement we felt as a child the moment we opened our eyes on Christmas morning. These are special memories engrained deep in our minds and hearts that a sound or smell can take us back to in a heartbeat.
Deep-rooted traditions, simple as they may be, are passed down and cherished through generations. Many traditions circle around the home and are special because of it. Maybe for you it was marshmallow night on cold Sunday evenings; a fire in the fireplace, long wooden sticks and marshmallows toasted golden brown. Or perhaps it was that one night a month that you had backwards dinners that began with dessert and ended with appetizers. For me it was dancing with my mother as we counted down the New Year’s clock. Whatever your memories are, the home and the family within it make them special.Read More..
My garage was filled with bicycles, soccer cleats, fishing poles and skateboards. My living room was a sea of crayons and coloring books, a few video games on the floor and a ballerina twirling in front of the TV to see her reflection. There was a constant run of children in and out of the fridge emptying its contents as fast as I could replenish them. This may sound like chaos to you, but it was everything to me. It was everything familiar and everything I loved. I never thought for a minute I wouldn’t have this until the unthinkable happened and my husband lost his job. No one ever expects to be in this situation but unfortunately we were facing it head on.Read More..
“Where we love is home – home that our feet may leave, but not our hearts.”- Oliver Wendell Holmes
More than a roof, more than a shelter, more than a structure on a plot of land; our homes are built with love and commitment. A home is a place where we learn the most, love the most and it’s a place where we can be ourselves. During financial instability, people struggle to secure their most important asset, their home. Due to unforeseen circumstances, sometimes people have to sacrifice the security of their homes, and when that happens it becomes difficult to recoup and come to terms with life. The emotional distress during foreclosure and the process of shifting from your own home to a rented apartment is painful.Read More..
“It’s the hardest thing in the world to go on being aware of someone else’s pain.” ― Pat Barker
Helping those who are struggling and striving constantly to bring equilibrium in life is an attitude that calls for appreciation. Either we give up on life or try to work things out, brick by brick. What should not go unnoticed are the hardships a person faces and the zeal to bounce back and take control of life. Lending companies have the opportunity to contribute to bringing about a much-needed change in their lives.Read More..
After spending five years pursuing my career, working hard and saving my money, I felt it might be time to take that first big step into homeownership. The idea of buying my first home was overwhelming and a bit intimidating, not understanding the process and all that entailed, but still my excitement about having my very own place and my interest in building equity for my future was winning out.
This was going to be, what felt like, a true transition into adulthood for me. I felt that finding the right lender to guide me through the process was very important. I really needed a lender who I could count on to educate and prepare me for all that was entailed in getting approved for a mortgage as well as help me make sure I was getting the right loan for me.