The whole world’s economy was hit a staggering blow when the Coronavirus pandemic (COVID-19) spread all across the world. In an effort to prevent its spread, governments everywhere have imposed strict social distancing procedures—which unfortunately hurt many businesses in the process.
Applying for a mortgage loan is a difficult process. At a minimum, you will need to present good credit scores, prove stable sources of income, and have enough cash on hand for equity on a property. Securing all of these can be even more difficult and complicated amid a global pandemic.
At the risk of oversimplification, the only real argument for refinancing a mortgage on your home is if it helps you. All other factors serve this main purpose and so should be at the end goal of any decision-making process. However, the process of achieving that goal depends on a few …
Mortgage loans are some of the most basic financing options an individual has when purchasing a house. It is understood as a loan from a lender for a certain amount, allowing a borrower to pay it off in increments with the addition of a certain amount of interest.
The effects of the Coronavirus, more commonly referred to as COVID-19, the global economy has suffered greatly, pushing many individuals to lose sources of income. Despite the increasingly terrifying situation we’re in, a lack of funds can just be as terrifying—as this will make things so much more difficult.
There is no denying the impact COVID-19 has made on the economy and on the financial assets homeowners. Especially for retirees who can’t get financial assistance from family members who are out of a job, seniors need to turn to cash alternatives to manage living expenses.