Tag: Home Loans
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Alert for Veterans: New VA Website Fights Housing Scams
Vets and family members can qualify for certain benefits from the U.S. Department of Veterans Affairs, including home loans. Some swindlers want to steal their glory. Members of the military, and their loved ones, are more likely than other households to become fraud targets. Now, Veterans Affairs officials are confronting the new wave of scams…
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Before Applying for Your Mortgage, Get Familiar With the Official Consumer Toolkit
Know Before You Owe is a set of mortgage guides from the Consumer Financial Protection Bureau (CFPB). It shows home loan seekers the steps they need to take to open and handle a mortgage account. It provides detailed information on interest rates, and explains how to find comparable deals on loans, too. This makes perfect…
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Who Owns Your Home—You, or the Bank? Check for a “Defeasance Clause”
Defeasance? What’s that? Some home loans contain a defeasance clause. It means you’re giving up collateral. Do your home loan documents have defeasance language? If so, your lending institution holds your home’s title for as long as you owe the lender money. Although the legal owner is your lender, you are still called the homeowner.…
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KeyBank Talks Fair Housing—Putting Its Money Where Its Mouth Is
KeyBank® is putting $400,000 into NeighborWorks Western Pennsylvania. Why? To make housing accessible to Black communities — as they have been disproportionately left out of homeownership. Sure, $400,000 is a modest sum these days. But it’s part of a bigger picture. In recent years, KeyBank has contributed close to half a billion dollars to Greater…
