Northwest Morgan Park Civic Association

Real Estate, Property Values and Homeowner Resources

203k FHA Loan FAQ

The FHA 203K program has been utilized as a primary tool in revitalizing run down properties and neighborhoods. This FAQ will answer many questions that a prospective buyer might have. What is the FHA 203K...

Tags: Homeowner – FHA Loan – Mortgage – 203K

Should You Consider Owner Financing?

Owner financing becomes more popular during a slow market, but be sure to do your research first to see if the arrangement is right for you. Owner financing isn’t for everyone, but can offer a number of ...

Tags: Homeowner – Staff Pick

HUD Manufactured Home Fact Sheet

Description of Program The Manufactured Housing Program is a consumer protection program that regulates the construction of certain factory built housing units, called manufactured homes, formerly known ...

Tags: Housing – Homeowner – HUD

Features of Reverse Mortgage Loans

A reverse mortgage is special type of loan for senior homeowners that use a home's equity as collateral and you do not have to repay the loan as long as this home remains your principal residence. Because a...

Tags: Mortgage – Homeowner – Thrifty – Financial

Does Mortgage Aid Hurt Your Credit Score?

Homeowners seeking mortgage help through loan modification programs such as HAMP and HAFA, may face another issue—lower credit scores. Loan Modification and Credit Scores Homeowners on the verge of...

Tags: Homeowner – Credit – Mortgage – Foreclosure

Funds for Handyman-Specials and Fixer-Uppers

The purchase of a house that needs repair is often a catch-22 situation, because the bank won't lend the money to buy the house until the repairs are complete, and the repairs can't be done until the house...

Tags: Homeowner – Financial

FHA Mortgage Insurance

Buying a home with an FHA Loan? Putting less than twenty percent down? You will very likely be required to purchase FHA mortgage insurance. What Is FHA Mortgage Insurance and Who Needs It? Mortgage insurance ...

Tags: Homeowner – FHA Loan – Mortgage – Thrifty

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