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The Federal Housing Finance Agency, Fannie Mae and Freddie Mac have announced an improved Home Affordable Refinance Program (HARP). Experts are of the opinion that this will allow quite a large number of delinquent borrowers to refinance their existing mortgages.

Buying a home is a dream come true, isn't it? We all want to own a home and when that dream comes true, it's the most wonderful day of our lives. However, it is the time when your credit is at risk. Your personal information is shared with a number of people such as your real estate agents, brokers, etc. Here are 5 ways in which you will be able to safeguard your credit before you buy your home:

When you apply for a mortgage refinance, it is very likely that the mortgage lender will ask you to order a property appraisal in order to assess the property value.  This property appraisal will cost you quite some dollars. However, apart from the cost of the property appraisal, there are certain pros and cons associated with it. Let’s take a look at it:

Advantages of property appraisal:

The advantages of property appraisal are as follows:

Refinancing a home mortgage will become quite expensive in the near future due to the credit risk retention rule. Moreover, those homeowners who don't have substantial equity in their property will have to take a decision even faster. However, it has been said that the rule governing "qualified residential mortgages" is still in fluctuation and may not come into effect until at least a year from now.

Credit cards play a very important role in today’s life. Credit cards are issued by a credit card company or a bank and they will send you a monthly bill of your transactions. As a credit card holder, you will be liable for paying all or part of your balance to the credit card company each month. Some of the credit cards will allow you to carry a part of your balance into the next statement period.

Unemployment and financial crisis have created havoc in our lives. In a recent survey, it has been found that there is a gap in Americans' ability to pay their mortgage after they became unemployed. Around 68% of the homeowners have claimed that once they lose their jobs, they wouldn't be able to make mortgage payments for more than 9-10 months.

Here is a list of 5 ways which will help you in dealing with this problem of mortgage gap:

Paying off the mortgage early is always a good option to go for provided you have the required money. A lot of people have seen the foreclosure crisis. Now people want be safe and secure to some extent by owning their home free and clear.

Here are 3 ways which will help you in paying off your mortgage in a safer and faster way. You can compare the options and go for the one which you think will suit you the best:

Selling off your property without a realtor is a tough deal. However, if you follow the right steps, then things can be easier for you and you may not have to pay any fees/commission to the realtor. You can arrange everything on your own. Take a look at the 6 steps which will help you in selling off your property:

The recent economic crisis has made one thing very clear to us - cash reserves are very important. If you're financially fragile, you will further fall into debt. So it's better to follow some easy tips and boost your cash reserves.

Here are 4 ways in which you can boost your cash reserves:

Your credit report has everything listed in it, isn't it? At times, we feel as if the credit report is spying on our personal lives. The credit report lists most of our personal information which includes our name, address, social security number, birth date, etc. But you don't have to be disheartened - there are certain facts which are not disclosed in the credit report. Thus, you can keep them a secret.