Three Straight Months of Improvement in Builder Confidence, But There's a Catch

The December National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) edged up one point to 39. This is the 3rd straight month of improvement in the index--a development that could be confused for something encouraging.  But the reality is that builder confidence is m

Mortgage Apps Still Strong vs Last Year, But Down Slightly Last Week

Seasonally adjusted mortgage application activity declined 3.8% last week, according to MBA’s Weekly Mortgage Applications Survey for the week ending December 12. Unadjusted applications fell 5% from the prior week, reflecting a typical seasonal slowdown as the year draws to a close. The Refinance I

When Does the Seller Get Money After Closing? What to Expect and How Long It Takes

Quick answer: Most sellers receive their money within 24–48 hours after closing, though timing can vary depending on:– The type of closing: Wet closings may allow same-day payment, while dry closings can take several business days.– How the seller is paid: Wire transfers are typically faster than ca

Mortgage Loan Modification: What It Is, How It Works, and When to Use It

Mortgage loan modification is a foreclosure-prevention option that permanently changes the terms of your existing mortgage to make payments more affordable. If you’re a homeowner facing a long-term financial hardship—such as job loss, a medical crisis, or divorce—a modification may help you lower yo