"I WENT THROUGH A BANKRUPTCY SIX YEARS AGO. I’VE BEEN WORKING HARD TO IMPROVE MY CREDIT SINCE THEN, BUT WILL IT BE DIFFICULT FOR ME TO BUY A HOME AND GET A MORTGAGE NOW?" Although each situation is certainly different, getting a mortgage after a bankruptcy will depend on the type of bankruptcy you filed, the type of loan you’re looking for and how you’ve been able to re-strengthen your credit and financial situation. Each type of loan has a mandatory waiting period after a ba

"I’VE HEARD COMMENTATORS ON TV TALKING ABOUT ‘HOMEBUILDER CONFIDENCE’ RECENTLY. WHAT IS HOMEBUILDER CONFIDENCE AND WHY WOULD IT BE IMPORTANT?" “Homebuilder confidence” is a statistic from a monthly survey about current economic and housing conditions. More specifically, the survey results—conducted through a poll of the members of the National Association of Homebuilders—are compiled into a report called the Housing Market Index (also known as the “Homebuilder Confidence Surv

Many borrowers have long viewed closing costs as a sort of necessary evil of getting a loan. For them, settlement day means writing a big check for all of the fees and charges associated with getting a mortgage. However, that’s not strictly the case anymore. Today, most borrowers have three options in terms of paying their closing costs—with two of those options having no out-of-pocket expenses on settlement day. Each option does have its pros and cons, so be sure to talk to

"I’M TRYING TO DECIDE IF I SHOULD MAKE UPGRADES TO MY HOME BEFORE I PUT IT ON THE MARKET. ARE THERE ANY GUIDELINES TO WHETHER OR NOT IT’S A GOOD IDEA TO REMODEL BEFORE SELLING?" Although just about every home could be upgraded in at least some small way, there’s no one-size-fits-all answer to this question. Whether or not you should remodel—and what upgrades you should make—will depend on several different factors and you’ll need to consider a few other questions first: Does

Much like being a buyer in today’s housing market, being a seller nowadays is different than it was just a few years ago. While market conditions vary from location to location and each home sale is different, many areas are showing a noticeable uptick in prices and a decrease in time on the market. If you’re looking to sell, here are a few things to keep in mind: Hiring a Professional. Back in the mid-2000’s, some homes were selling so fast that many sellers felt no need to

“I’d love to buy a home, but I just can’t afford it.” Sound familiar? This is a common refrain from people who want to buy a home, but feel that being a homeowner is beyond their reach financially. The idea of having a monthly mortgage payment for 15, 20 or 30 years can be overwhelming for those who are used to having a six-month or one-year lease. However, it’s often not the idea of having a mortgage that scares people away from buying, but rather the down payment. Having to

According to real estate data firm CoreLogic, home values have risen more than 11 percent nationally in the past year. If you’re a homeowner, this is great news because a rise in home values means that you’re gaining more equity in your home. So what can you do with an increase in home equity? Although the answer to that depends on how much equity you actually have, here are a few options you may want to consider: Reinvest your equity back into your home. Remodeling your home

“We were just pre-approved on a loan and we’ve been very vigilant with our credit, but I need to make changes to my 401k contribution. Is this going to affect our mortgage approval?" The important thing to keep in mind about being approved for a loan is that lenders are looking for steady and verifiable income and the borrower’s ability to repay the loan. As a borrower, a good rule of thumb is to stay the course with your income, debt and spending. Although changing the amoun

Norwood, MA – Omega Financial, Inc., a mortgage brokerage located in Norwood, MA, is pleased to be celebrating its 25th year in business. John Sullivan and Andrew Emanuel have owned and operated Omega Financial since its inception. John and Andrew worked together for several years prior to forming their mortgage business. Both have significant prior experience as banking loan officers and managers. The company credits its longevity to their unique approach to customers and le