Freddie Mac Enhanced Relief Refinance (FMERR): Past Guidelines and Current Status
Editor’s note: Freddie Mac stopped accepting FMERR loans in 2021. Loans with applications dated on or after July 1, 2021 are not eligible for delivery to Freddie Mac…
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Peter Miller
Peter G. Miller, author of The Common Sense Mortgage, is a real estate columnist syndicated in newspapers nationwide. Peter has been featured on Oprah, the Today Show, Money Magazine, CNN and more. Follow Peter on X.
Articles by Peter Miller
Mortgage Life Insurance or Private Mortgage Insurance – Which is Better?
Question: What is “mortgage life insurance” and why do I need it when I already have private mortgage insurance? Answer: Private mortgage insurance and mortgage life insurance are…
My Mortgage Has Been Sold. Am I In Trouble?
Question: We received a letter from our lender saying our mortgage has been sold to someone else. Have we done something wrong? Is there some kind of problem…
Should You Buy or Lease a Car Before Applying For a Mortgage?
The typical new car loan costs $765 per month, while the average new lease costs $617 per month, according to an Experian report from the second quarter of…
How Can I Quickly Cut My Mortgage Debt?
Question: Rates have risen since I got a mortgage so I don’t want to refinance. What’s the quickest and easiest way to knock down my mortgage balance and…
Is Mortgage Insurance Overpriced?
Question: We want to buy our first house with FHA financing, but the cost of mortgage insurance is shocking. Don’t you agree that the cost of interest and…
Can I Buy Real Estate With A Friend?
Question: My boyfriend and I would like to buy a small house. Will lenders have extra requirements for us because we’re not married? Answer: According to the Consumer…
How Does A Piggyback Mortgage Cut Financing Costs?
Question: We want to purchase a home for $295,000. We spoke with a loan officer about financing with an FHA mortgage and found out we qualify. However, to…
How Long Must I Be Self-Employed To Get A Mortgage?
Question: The company where I worked for eight years closed several months ago and as a result, I lost my job. As an alternative to seeking another position,…
How Compensating Factors Can Lead To Mortgage Success
Question: We want to apply for a mortgage but are worried we don’t have enough income. A loan officer told us we might have extra borrowing power as…