How Does Private Mortgage Work

Private Mortgage Insurance (PMI) is a special type of mortgage that you need to purchase when you mortgage a home for more than 80% of the value of the property. You generally will not have to carry this insurance if you put at least 20% of the value of the home in a down payment. The premium you are charged for this insurance will be added to your monthly mortgage payment and you will not be the one who receives any benefit for these payments. The lender is the benefactor of the insurance when or if you default on your loan....more

Sorcha v/s The Bank

Today’s guest blogger is none other than my friend Sorcha: Oh, the joys of dealing with banks nowadays!  They are boundless and fun.  Not!...more

Present Day Fun: CONVERGENCE

After 10 years of college and graduate school, it was only fairly difficult to sit in a room full of people learning to answer the phone. The consulting firm had just landed a huge contract, providing customer service support for the National Mortgage Settlement Act, and although tedious, I hadn’t had a job in months - save for cleaning and shoveling at my apartment complex for free rent....more

Ability to Repay/Qualified Mortgage

In just over a week, new rules issued by the Consumer Financial Protection Bureau (CFPB) will go into effect. These rules are called the Ability-to-Repay/Qualified Mortgage (ATR/QM). The implementation of these rules will have a huge effect on the mortgage industry, and may impact a borrowers' ability to obtain a mortgage....more

Shopping Around For The Best Mortgage Rate

Ok ladies, it’s time to make your monthly bills a little leaner. According to a survey from, auto loans, health insurance and mortgages are some of the highest monthly bills Americans have. Let’s tackle your mortgage. Whether you’re in the market for a new home or looking to refinance your current mortgage, there are a few things you should do before signing on the dotted line. Figure out your debt vs. income...more

Pyrex & Pennies: Big Purchases and Bad Decisions

Now that we're in our 30s, my husband Kyle and I would like to buy a home at some point in the near future. I want a space I can make ours (read: I want to rip down cabinets, build things into walls, etc.), and we are desperate to have enough outside space for a chicken coop and garden beds so we can grow a good portion of our own food. ...more

Wayback Machine - Part 3

Continuing on from Wayback Machine - Part 1, Backgrounder: Ready for a change (Part 1), and Wayback Machine - Part 2, Backgrounder: Ready for a change (Part 2), the following outlines additional details as to how and why we ended up moving to Windsor, Ontario almost a ...more

Is It Worth It to Have a Decent Credit Score??

Recently, we put our house up for a short sale to rent a townhouse closer to work and college. Half the people I talked to about it were, "good idea, will definitely save money, sounds great." The other half were pretty upset, stating such things as, "It is your duty to pay for the house, you are throwing everything away, you are going to drag your credit score into the ground and it will be very difficult to bring it back up." So I ask myself: Is it worth it to have a decent credit score? Why?...more
I will definitely say the my buying a house, at 10%-15% down, at an early age, in a bad ...more

FSBO and other abbreviations

This real estate market totally sucks. That statement is from my point of view as a Seller.  From a Buyer's point of view, this real estate market is pure gold (if you have a job and can qualify for a mortgage.)  We've had our house actively for sale since January 2010. Actively is the magic word, because it's really been longer than that.  We need to sell, otherwise we wouldn't even be trying right now....more