Since 2020, many people in Georgetown had problems paying their rent. The federal government stepped in and imposed an eviction moratorium allowing renters to avoid eviction even if they have not paid what they owe to their landlords. The moratorium may have been...
Overview of Delaware’s foreclosure process
On Behalf of Tunnell & Raysor, P.A. | Jul 6, 2021 | Mortgages
Banks are not the only ones who need to be aware of Delaware’s foreclosure laws. Residents of homes also will need to be familiar with them if they fall behind in their house payments, as they may have a viable defense to a looming foreclosure. Likewise, not every...
Mortgage delinquencies fall to their lowest level in 20 years
On Behalf of Tunnell & Raysor, P.A. | Jan 20, 2020 | Mortgages
Mortgage delinquencies in Delaware and around the country have fallen to their lowest level in 20 years according to data released by CoreLogic. The consumer and business analytics company's latest Loan Performance Insight Report reveals that about 3.7% of the...
Mortgage rates continue to increase
On Behalf of Tunnell & Raysor, P.A. | Feb 7, 2018 | Mortgages
Delaware homeowners may soon be paying more on long-term mortgage rates. Interest rates are rising because the Federal Reserve is taking action to keep inflation at a reasonable level. It is expected that the Fed will raise rates at its March meeting. The national...
Bill would allow use of alternative credit scores for mortgages
On Behalf of Tunnell & Raysor, P.A. | Aug 9, 2017 | Mortgages
Although the change is unlikely to be immediate, in the years ahead, Delaware residents who are seeking a home mortgage may be able to do so with lenders who use alternatives to FICO in determining credit scores. The bill is cosponsored by a Republican and Democratic...
Completing a residential property transaction online
On Behalf of Tunnell & Raysor, P.A. | Jun 30, 2017 | Mortgages
Online banking has made the days of writing dozens of checks each month to cover household expenses a distant memory for many Delaware residents, and they can now use the internet to buy or sell real estate. Several companies already allow consumers to submit mortgage...
Rising mortgage rates scare consumers
On Behalf of Tunnell & Raysor, P.A. | Oct 21, 2016 | Mortgages
Delaware residents may have noticed the rise in interest rates, which is discouraging consumers from applying for mortgages. In fact, as the first week of October ended, there were 6 percent fewer mortgage applications around the country than the prior week, as...
Some banks are getting back into mortgage lending
On Behalf of Tunnell & Raysor, P.A. | Oct 5, 2016 | Mortgages
Near the end of September 2016, the Urban Institute revealed that improving bank conditions could also lead to changes in the housing market. Following the 2008 financial crisis, numerous banks stopped originating mortgage loans because of increased regulatory...
Increase in mortgage rates leads to decrease in applications
On Behalf of Tunnell & Raysor, P.A. | Sep 22, 2016 | Mortgages
Delaware residents who are interested in selling or buying homes might be interested in the recent decline in the number of mortgage applications. The decline came as interest rates for home loans increased.According to CNBC, the volume of mortgage applications during...
Delaware law follows the lien theory mortgage doctrine
On Behalf of Tunnell & Raysor, P.A. | Jul 13, 2016 | Mortgages
Most Delaware residents who take out a loan to buy a home or other piece of real estate will refer to the financial arrangement as a mortgage, but that term really applies to the interest that the lender has in the property rather than the loan itself. The mortgage...
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