If you own your own home and are 62 years of age or older, you may be able to leverage the equity in your home through a reverse mortgage, or home equity conversion mortgage (HECM). These mortgage…
5 Requirements of Reverse Mortgage
3 Trends Driving the Mortgage Market
Many things affect the mortgage market, which creates regular fluctuation. It’s hard to predict exact future trends or when the market will be best for buying, selling or refinancing–but one thing that you can do to be…
3 Types of Protection for You, the Home Buyer
There are so many options now for potential home buyers when it comes to mortgage loans, refinancing and home equity/lines of credit. But how do you tell what option is right for you. Can a quick and…
Home Equity Loans and Lines of Credit
As you make payments on your mortgage loan or make improvements to your property, or if property values in your neighborhood increase, the equity in your home may increase. Home equity is the difference between your home’s…
5 Ways to Avoid Foreclosure
Once you move into your new home, you will want to make sure that you do nothing that could result in the loss of your home. Make all payments on time If you are having a dispute…
What To Do if You Have Questions about Your Loan
Servicing information and errors If you have a question any time during the life of your loan, or if you believe your servicer has made an error, you can send the company a written request for information or…
What happens after you accept your HUD-1
After settlement, federal law requires that you be given disclosures concerning the servicing of your loan and any escrow account and that you receive a written mortgage statement each billing cycle. You also have certain protections in…
Good Faith Estimate vs Settlement Statement (HUD-1)
You have determined what you can afford, shopped for the best loan for your needs, and found the right house. After all the hard work, it is time to go to settlement, but don’t forget to bring…
Protecting Your New Home Title – Title Insurance
There are other settlement services that Choice Lending Corp of Lancaster will require for your loan. You may be able to shop for these services or you may choose providers identified on the written list you receive…
What is a Good Faith Estimate
What is a Good Faith Estimate In the loan application process, the loan originator (your lender or broker) at your local Choice Lending Corp office in Downey will need a few items from you. They will ask…
