Articles by Michael Zuren, PhD

How to Prepare For a Mortgage Like a Pro
Before you shop for a new home, prepare to qualify for a mortgage loan. Preparing will help eliminate confusion while ensuring that the process goes as smoothly as possible. . There are six factors reviewed during approval process (excluding the home appraisal):. 1....

Lender Overlays and Why Your Credit Score Matters for Mortgage Applications
The interest rates that mortgage lenders usually offer are based on a consumer's credit scores (risk-based pricing). Credit scores are the lender's indicator of risk of borrower default.. A credit score is a calculation which measures the probability a consumer...

Down Payment Assistance Programs in Northeast Ohio
One of the biggest challenges first time home buyers face is coming up with the required down payment. According to a 2013 survey by the National Association of Realtors (NAR), twelve percent of buyers cite down payment as their main difficulty in purchasing a house.. In 2011,...

Shrink Your Mortgage With the Bi-Monthly Payment Program
Bi-monthly mortgage payments are a great alternative to shorten the duration of your mortgage without the expense of refinancing your house to a shorter term. . The concept of the bi-monthly mortgage payment is simple: by paying half of your mortgage payment every two...

Homeownership and Understanding Student Loan Repayment Options
Options exist to help prospective borrowers obtain the mortgage they want, despite having student loan debt. . Who has student debt?Nearly 60% of all college students in the calendar year 2011 –2012 accrued debt via student loans. It's estimated that in...

Congratulations You've Been Pre-Approved! Now Don't Mess It Up
One of the first steps in the home buying process is the mortgage pre-approval. However, even after you are pre-approved, some mistakes may result in your mortgage being declined. . A mortgage pre-approval is based on a snapshot of your employment, income, credit, and...

FHA 203k Home Improvement Projects
Recent data from the National Association of Realtors (NAR) show that within 90 days of buying a home, 53% percent of new homeowners begin a home improvement project. 37% also purchase new appliances.. While the idea of personalizing your home new improvements and new...

Best Ways to Prep for a Mortgage After Bankruptcy
After a bankruptcy, your first priority should be to reestablish credit. Re-building credit will take time, effort, hard-work, but this is an important aspect in preparing for mortgage after being discharged from a bankruptcy.. Getting Credit On TrackThere are a variety of...

Dissolving a Joint Mortgage During Divorce
If you have purchased a house with your spouse and are considering separation or divorce, there are steps you can take to protect your mortgage liability and credit. If both you and your spouse signed for your current mortgage, both of you are liable for making the mortgage...

Social Benefits of Homeownership
. Owning a home does not necessarily make anyone a better or happier person. However, recent research from the National Association of Realtors (NAR) shows notable correlations between social characteristics and owning a home that may point to the kind of stability...

Buying a Home for the First Time and Completely Totally Lost - Until Now
Use Lender411's simple guide to navigate the mortgage process. In this article, you'll find step by step instructions for getting a mortgage, as well as resources for more in-depth information. . 1. Create an affordable monthly budgetCreate a budget to see what...

6 Helpful Tips for Getting a Mortgage While Self-Employed
If you are self-employed and have excellent credit and a significant down payment you still may not qualify for a mortgage due to recent changes in industry regulations. . Most lenders consider the self-employed to be riskier than their W-2 wage earning counterparts...

Everything You Need to Know About the FHA Home Appraisal
The Federal Housing Administration, or FHA, requires licensed appraisers to both value and inspect homes in order to price and identify immediate concerns with the house. The appraiser compiles a list of necessary repairs to bring the house up to FHA's minimum...

10 Home Improvement Tips to Save Energy and Money During Winter
There are many advantages to owning a home, but energy bills in the winter are not one of them. Fortunately, we have the top 10 energy-saving tips you can use this winter to help reduce your energy bills.. These energy-saving tips may not only save you money, but also make your house...

Obtaining a Mortgage After Bankruptcy
There are strict guidelines for mortgage financing after a bankruptcy. Many individuals who have had a bankruptcy mistakenly think that they will not be able to qualify for a mortgage or to refinance their current mortgage. But depending on the type of loan, an individual may...

TILA/RESPA Integrated Disclosure (TRID)
The Consumer Financial Protection Bureau (CFPB) has designated October 1st, 2015, as the implementation date for the TILA/RESPA Integrated Disclosure rule (TRID). As the real estate and mortgage industries prepare for the implementation of TRID, there are many...

Control your Monthly Budget - Uncover Credit Building Power
If you have recently graduated from college, just accepted your first job, rented your first apartment, or plan to purchase your first house, it is to your advantage to have control over your household budget. Below is a list of suggestions that you could use to create a...