Paramount Mortgage - Lender's Blog

Packing Perfection

In last week’s blog, we explored a few tips for moving in to your new home. We’re happy to see so many new homeowners realizing their dreams, and we simply love that we can be a part of the process.

10 Events Homeowners Insurance Might Not Cover

Most know their insurance policy covers their home and the possessions inside it in the event of a fire or theft, but they may not realize there are many things which are not covered by their homeowners insurance. According to credit.com, below are ten events that may not be covered:

Happy Homecoming

If you have family or friends with children in school, there’s no doubt that you know it is homecoming season, or HoCo, as they often call it these days. Dresses, dances, football games and parades are all over social media, bringing excitement for kids and memories for adults.

By The Numbers: Mortgages – Women vs. Men

Here are a few findings from a recent study by the Urban Institute, comparing data from 13 million women and 17 million men. The study looked at all types of borrowers, including single men, single women, and couples.

5.8% – average loan default rate, single women

6% – average loan default rate, single men

$68,000 – average annual income for single female borrowers

Your Fun Fall To-Do List

This Thursday marks the beginning of the autumn season. We’re excited for cooler weather, football, bonfires, and the upcoming holidays that will wrap up 2016 in just a few short months. 

A Little Mortgage Humor

 

Why MBA Chief is Okay with Ditching Mortgage Interest Tax Deduction

Nearly 33.6 million taxpayers deducted $72.4 billion in mortgage interest from their 2014 taxes, and that figure could rise to as much as $96.4 billion by 2019, according to estimates by the Congressional Joint Committee on Taxation. That makes it one of the largest tax breaks taken by individuals. Middle-class homebuyers benefit the most from the deduction. About 43% of taxpayers who took the deduction had adjusted gross incomes between $100,000 to $200,000, according to the committee’s estimates, while another 40% of taxpayers who took the deduction made less than $100,000.

Cosigning: Credit Red Flag

We recently discussed several situations that are considered red flags on your credit report.

The Bare Minimum

Recently, our blog focused on situations that raise red flags on your credit report, and thus can prevent you from getting the best loan product available.  Today, we’d like to dig a little deeper into one of those items: minimum payments. 

College Credit

Your young adult child is settled safely into the dorm room and is experiencing all that college life has to offer. You wonder whether they will be able to meet the challenges of managing their time and being responsible with their freedom? Will they make good choices?

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