A HomePath Mortgage may be the way to buy your first home

I'm not a big advocate of going into debt but buying a home to me would be an exception. You have to live somewhere and if you are not independently wealthy you will probably have a monthly housing payment. A HomePath Mortgage has many advantages.

A HomePath Mortgage may be a better option than an FHA mortgage. A HomePath Mortgage only requires 3% down whereas an FHA mortgage can require 3.5% down. There is no PMI insurance on a HomePath Mortgage. An FHA mortgage has mortgage insurance as well as a 1.5% funding fee up front ouch. There is no appraisal required for a HomePath loan.

Home Path mortgage information

8000 tax credit for first time home buyers

The 8000 tax credit can make a huge difference in buying your first home. I'm not a big advocate of going into debt but you do need to live somewhere. You might as well buy a home.

8000 tax credit explained

Ask your lender to Produce the Note - strategies to stay in your home if you are facing foreclosure

You may want to ask your lender to produce the note if you are facing a foreclosure. You may be able to stave off foreclosure if your lender cannot produce the original mortgage documentation. A lender must be able to provide the original mortgage documentation to be able to proceed with a foreclosure in most states. If you are not getting anywhere with a loan mod with your lender this may be a great alternative.

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