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A recast involves making one or more voluntary payments to reduce your loan principal by $10,000 or more and reamortize your unpaid balance over the remainder of your loan term. In other words, your monthly principal and interest payment will be rec...
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Last Updated: 05/04/2023
in Homebuyers Insurance What is homeowners insurance? Homeowners insurance, also known as hazard insurance, is a policy that covers damages to your home, your belongings and accidents as outlined in your policy. Is homeowners insurance required at closing? Yes, proo...
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Last Updated: 05/04/2023
in Homebuyers Insurance What is mortgage insurance (MI)? This is an insurance policy that protects the lender in case of default, allowing them to approve a loan they might not have otherwise. MI can make buying a home with less than 20% down possible. If you're require...