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Being a single mother is not at all an easy job. They often find hardship & struggle around them. But that doesn't mean they cannot fulfill their dream of owning a home for their child. The most common scenario is that single mothers can't afford to purchase the house. It is because of her low monthly income, low creditworthiness & insufficient fund to pay the high closing value. So, in order to achieve their goals, single mothers have to consider some measures at their end as well as the available programs.

Good news for the prospective homebuyers in the country. Lenders are finally ready to ease the strict lending standards enacted post economic downturn and subprime mortgage disaster.

Mortgage rules have begun to change post January 2014. The new mortgage rules have been introduced in January 2014 by the Consumer Financial Protection Bureau (CFPB) to make home loans safer. Check out the 6 questions you need to ask about the new guidelines and how they affect your financial health.

Q1. Qualified mortgage – Why has it been introduced?

Tips of the week:

1. You should treat the problem and not the symptom. This stands true for debt consolidation as it does not actually treat the problem.
You have to find the root causes of the problem and take steps accordingly so that the problem does not arise again. This also holds true with debts. You have to find out the reasons behind your debts and change your financial behavior accordingly. Don't bank entirely on the solution in the form of debt consolidation. Change your attitude towards finance.

Selecting the right bank for taking out a mortgage loan is not an easy task. While choosing your bank, you have to take into consideration all your options and gather as much information as possible. Here we are talking about the problems in selecting either a big bank with global presence or a community-based local for taking out a mortgage loan. Both these two groups of lenders have certain advantages as well as disadvantages. Sometimes with the flexibility and services offered, small banks can be a better option than the giant banks.

Tips of the week:

Tips of the week:

The Internet has made tremendous inroads in the home buying process. When a potential home buyer seeks to purchase a home, he or she may consider online search. Many popular and good real estate websites are now available. You can obtain mortgage quotes, compare mortgage prices and read about the mortgage loan process by browsing through these real estate websites. Despite the increased usage of Internet in the home buying process, real estate agents still play a crucial role in the home buying process.

MortgageFit is pleased to announce that it has recently introduced 2 new sections in the article pages - 'Related Community Discussions' and 'Related Questions & Answers'.

'Related Community Discussions' section features the 5 latest community discussions. The most recent discussion features at the top and the least latest discussion features at the last. If a new related discussion appears in the forum section, that discussion automatically comes at the top place of the 'Related Community Discussions' section and the last discussion disappears.

Tips of the week: