Mindblown: a blog about philosophy.

Barbara Corcoran suggests that potential interest rate cuts could lower mortgage rates, but waiting to buy a home may not be beneficial. With current mortgage rates around 6.5% and a possible Fed cut, demand for housing could surge, driving prices higher. Corcoran advises buyers to act now rather than wait, as competitive bidding is prevalent…

You can typically be delinquent on your mortgage for 120 days before foreclosure begins, though this varies by lender and market conditions. Generally, foreclosure starts after four missed payments. Lenders prefer to avoid foreclosure due to its costs and may offer options to help you stay in your home. The process includes a grace period,…

Mortgage rates have fallen, with the 30-year fixed-rate mortgage now at 6.46% and the 15-year at 5.62%. Despite this decline, experts caution it may not trigger the anticipated housing boom. Buyer applications have decreased, indicating a wait-and-see approach among potential homeowners. Refinance applications are down weekly but up 90% year-over-year. Existing home sales rose 1.3%…

When comparing lenders for a mortgage, ask questions to narrow down the list. Good lenders explain their recommendations and have a clear process. Consider factors beyond rates, like the lender's communication style. Ask about loan estimates, required information, preapproval process, available loans, recommended options, closing time, communication methods, in-house processes, community involvement, and cultural understanding.…