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Blog Image: Should I Pay Off My Mortgage with My 401(k)?

Should I Pay Off My Mortgage with My 401(k)?

The COVID-19 crisis has left millions of Americans unemployed and uncertain of how to make their mortgage payments and other debt obligations. In response to the need for emergency funds, the government created the Coronavirus Aid, Relief, and Economic Security (CARES) Act which provided stimulus checks and better unemployment benefits. It also included provisions that allow people to borrow more money from their retirement accounts while waiving penalty fees for early withdrawal. For many, this might seem like a great way to pay off their mortgage now and reduce their debt load. However, ever...

November 4th, 2020 | Mortgage Advice, Should I Pay Off My Mortgage with My 401(k)?

Blog Image: What You Need to Know About Mortgage Forbearance

What You Need to Know About Mortgage Forbearance

If you are one of the 22 million Americans who have filed for coronavirus-related unemployment in the past few weeks, you may also be wondering if you are going to be able to make your mortgage payments. If your income has vanished or been reduced due to COVID-19 shutdowns, you can appeal to your mortgage lender for payment forbearance. Before you do, there are several questions you need to ask to understand how it will affect your situation. Is My Loan Covered by the CARES Act? In the wake of the COVID-19 economic fallout, the U.S. government recently passed the CARES Act to provide mor...

April 22nd, 2020 | Mortgage Advice, Credit, What You Need to Know About Mortgage Forbearance