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Myths and Misinformation About Mortgage Loans, Dispelled

Getting a mortgage might seem scary. It certainly doesn’t help that there’s a lot of misinformation about mortgages circulating these days. But if you are armed with the truth, you will find yourself in a better position to make a decision about your future mortgage. Here are a few myths and the truths behind them: Mortgage Loans Are Expensive A lot of people say that mortgages are extremely expensive and aren’t worth it. This isn’t true at all. After rent payments, and you already have enough...

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CDLP™s Can Play A Positive Role In Client Divorces

How do you divorce the mortgage - or the house, for that matter? That is a question asked of many Certified Divorce Lending Professionals (CDLP™). Though a CDLP™ deals with all levels of divorcing homeowners, the more variables involved in a divorce case, the more complicated it can be. Many times a CDLP™ will face divorcing clients, both men and women, who are ill-prepared financially to obtain mortgage financing - even when the final settlement agreement states that one spouse is to...

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Your Equal Credit Opportunity Rights When Applying For Credit When Divorcing

The Federal Trade Commission (FTC), the nation’s consumer protection agency, enforces the Equal Credit Opportunity Act (ECOA), which prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because you get public assistance. The law provides protections when you deal with any organizations or people who regularly extend credit, including banks, small loan, and finance companies, retail and department stores, credit card companies, and...

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Everything You Need to Know about Reverse Mortgages

Whether you’re already retired or are about to retire, you’ve likely made some preparations ahead of time as it is a major step in your life. However, the cost of living and expenses keep rising as the years go by, which mostly results in people struggling financially despite approaching retirement. With all that preparation and savings you’ve done, it may not always be enough.  American Mortgage Solutions is here to offer a solution that not many people are actually aware of. There is a thing...

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Are you thinking about paying cash for your new home purchase?

Divorce can be intricate, tricky, and emotionally overwhelming. When you have to relocate, find new housing and decide to rent or purchase a new home, you pile on additional tasks and frustration. Many divorcing spouses understand the financial benefits of owning a home rather than renting. While obtaining mortgage financing on any given day may oftentimes involve a lot of paperwork and challenges, doing so during a divorce may seem overwhelming and out of reach for many. For many reasons,...

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