ALERT! 3 Mortgage Scams to Watch Out For (And How to Avoid Them)

Scam Alert! Three Mortgage Modification Scams to Watch out for (And How to Avoid Them)As if homeowners in Sacramento who are facing foreclosure don’t have enough to worry about, a multitude of loan modification scam artists have invaded the internet, public files and even foreclosure notices in newspapers in hopes of targeting their next victim. By identifying the top three modification scams and learning how to avoid them, at-risk homeowners can protect themselves (and their homes). Continue reading “ALERT! 3 Mortgage Scams to Watch Out For (And How to Avoid Them)”

A 2-Minute Guide To Flood Insurance: Do You Really Need it?

The 5-Minute Guide to Flood Insurance: What It Is, How It Works, and Whether You Need ItYou’ve got house insurance, and assume your property is covered for any type of detrimental occurrence that can possibly take place.

However, not all homeowners in Sacramento are aware that home insurance policies don’t necessarily cover damage related to a flood, as the risks are too great. As a result, homeowners must purchase flood insurance through a private company.

Floods are one of the most common hazards in the US, costing billions of dollars in damage to properties every year. And more importantly, if you are in the process of shopping for a new home in Sacramento or anywhere in California for that matter, budgeting that monthly payment, its good to know if flood insurance will be required. Continue reading “A 2-Minute Guide To Flood Insurance: Do You Really Need it?”

If You Miss One Mortgage Payment Will it Hurt Your Credit Rating? Yes! Here’s What to Do if You Miss One.

Can One Missed Mortgage Payment Affect Your Credit Rating? Yes! Here's What to Do if You Miss OneMost people don’t know whether or not a single missed mortgage payment can have serious consequences for their credit score. As a Sacramento Lender, it is amazing how much time we talk about credit. Most people focus on interest rates, and monthly payments, but forget about that pesky credit report.

The good news is that there are things that can be done to mitigate the damage and help anyone who has missed a payment repair their credit. What are some options to help homeowners get back in the good graces of their creditors? Continue reading “If You Miss One Mortgage Payment Will it Hurt Your Credit Rating? Yes! Here’s What to Do if You Miss One.”

Can I Have A Co-Signer For My Mortgage Loan?

Can I Have A Co-Signer For My Mortgage Loan?Like credit cards or car loans, some mortgages in Sacramento allow borrowers to have co-signers on the loan with them, enhancing their loan application.

However, a co-signer on a mortgage loan doesn’t have the same impact that it might on another loan. Furthermore, it poses serious drawbacks for the co-signer. Continue reading “Can I Have A Co-Signer For My Mortgage Loan?”

Buy A New Home Just One Day After A Short Sale or Foreclosure? Yes, You Can!

Flex-Banner_600x315px_mockup5Comstock Mortgage, has been helping buyers into homes for over thirty years. Buyers can qualify for the Flexible Credit Home Loan Program just six months after bankruptcy – and just one day after short sale or foreclosure.

Losing your home to foreclosure or going through a short sale is one of the most disheartening experiences the modern homeowner can endure. Traditionally, a defaulted mortgage has meant years of poor credit and renting rather than buying. Continue reading “Buy A New Home Just One Day After A Short Sale or Foreclosure? Yes, You Can!”