Preforeclosure is the first legal step toward foreclosure. Learn about how the process works and what options you have for keeping or letting go of your home.

The mortgage constant is the amount paid in debt service each year divided by the amount of a loan, expressed as a percent. Learn more about mortgage constants.

What is a Mortgage Credit Certificate (MCC)? This federal tax credit can help first-time buyers save money. Learn how MCCs work, who qualifies, and how to apply...

A right of redemption helps homeowners recover their homes if they are at risk of foreclosure. Understand your legal protections as a borrower with our help....

Collateral is any asset a lender accepts to secure a loan. Explore different types of collateral loans, their pros and cons, and how to get one.

Learn how TRID mortgage guidelines, or “Know Before You Owe” rules, protect borrowers, including what they mean for you during the home buying proce...

An appraisal gap occurs when a home appraisal comes in lower than an accepted offer. Learn more about what an appraisal gap is and how this process works.

Joint tenancy is a legal agreement in which two or more people have equal rights to – and ownership interests in – a property. Learn how it works, a...

For homeowners dealing with financial hardship, relief options include forbearance and deferment. Learn more about mortgage forbearance versus deferment.

Appraisals and inspections are critical steps in the home buying process. Learn how to identify the key differences in appraisals versus inspections.

Mortgage default can occur if you stop making payments, and it can lead to foreclosure. See how to avoid delinquency and what to do with a mortgage in default.

Owner-occupied investments are properties in which the landlord both owns and lives in a home. Understand the pros and cons of owner occupancy before you buy...

A mortgage amortization schedule shows a breakdown of your monthly mortgage payment over time. Figure out how to calculate your mortgage amortization.

Tri-merge credit reports help mortgage lenders determine the size and type of your loan. Learn more about the role this report plays in your application.

Tenancy in common is when two or more people share ownership of a property. Learn more about tenants in common and how they compare to other tenancy types.

Private mortgage insurance can be a tricky subject, so we broke down what PMI is, how much it costs, and how to tell whether it's the right option for you.

Your loan-to-value ratio measures your loan amount against the value of the home you’re buying. Figure out how your LTV ratio is calculated.

There are many unfamiliar terms to learn when you’re buying a home and need to apply for a mortgage. Here’s a list of common mortgage terms and what...