During the mortgage process, you may see the acronym “PITI” in reference to your monthly mortgage payment. “PITI” stands for the sum of monthly principal, interest, taxes, and insurance. PITI can also include homeowners association fees, if applicable.
Month: July 2014
Purchasing a Foreclosure (Rehab Loans)
Most buyers associate buying a foreclosure with getting a home for an extremely reasonable price. Though that assumption can be true, there is also a good amount of risk in buying a foreclosed property. Approximately 5 million homes have gone through foreclosure in the last half decade since the housing market collapsed. To make sure…