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What Is a Chattel Mortgage?

A chattel mortgage, also known as a secured transaction, is a loan that can be obtained from a bank or financial institution using some sort of movable personal property—possessions other than land, buildings, or any permanent fixture—as security. If you need leverage for a loan, you don’t have to put your house on the line. …

Financing a Vacation Home: What You Need to Snag the Dream

CherylCasey/iStock Financing a vacation home is one of the most popular ways to become a second (or even third or fourth) homeowner. Growing numbers of Americans these days are living a prime variation of the real estate dream: you know, the one about owning a property in your favorite place that you can use as a second …

Is a Big Bank or Local Lender Better for a Mortgage?

urfinguss/iStock So you’re ready to buy a home. Congrats! You know you need a great Realtor® by your side, and odds are you need a loan. But from whom? You know that big banks offer mortgages, but so do small, local lenders. And there’s more to consider than size alone. So we’ll help you weigh these two critical options. …

How To Get a Mortgage With Bad Credit (Yes, You Can)

Julia_Sudnitskaya/iStock Finding home loans with bad credit isn’t for the faint of heart—or at least not something you should do without some serious homework. But there’s good news if you’re wondering how to buy a house with bad credit: It can be done! A good credit score typically means you’ll get a great mortgage. A …

Can A Retired Person Qualify For A Home Mortgage?

How difficult is it for a retired person to qualify for a mortgage? Today’s question comes from Tucson, Arizona: Q: Can a retired person qualify for a mortgage? A: The good news is that Federal law makes it illegal to deny a loan just because of someone’s age. The Fair Housing Act of 1968 protects …

How To Make Your Vacation Home Pay: Part 2

Anastasija Popova/Shutterstock Now is a good time to plan how to use your vacation property for the rest of this year with tax savings in mind. This is especially true if the property is in a winter destination. Even if you only rent the property during the summer, planning now for how it’s used next …

Can A Retired Person Qualify For A Home Mortgage?

How difficult is it for a retired person to qualify for a mortgage? Today’s question comes from Tucson, Arizona: Q: Can a retired person qualify for a mortgage? A: The good news is that Federal law makes it illegal to deny a loan just because of someone’s age. The Fair Housing Act of 1968 protects …

How to Buy a Home With No Money Down (You Really Can!)

Drumming up money for a down payment on a home can feel like a lost cause: After you’ve shelled out money for rent, gas, groceries, and other expenses, you might have little or nothing left over. Which may have you fantasizing: Is there some secret out there, somewhere, that could show you how to buy a home with no money …