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Federal Student Loan Forgiveness FAQ

  • Posted on August 26, 2022October 26, 2022
  • by BrightDime

The White House announced a plan to forgive some student loan debt along with other changes to federal student loan debt on Wednesday, August 24th. We’ve got answers to the…

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Should I use a home equity loan?
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Should I use a home equity loan?

  • Posted on August 10, 2020July 26, 2022
  • by BrightDime

If you own your home and have been making your regular mortgage payments, you may have some equity. Equity is the value of what you own in your home: the…

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  • Series

Home Buying: Understanding the Mortgage Process

  • Posted on September 17, 2019July 26, 2022
  • by BrightDime

This is the 3rd entry in our Home Buying series. There are links to the other entries at the end of this article. You’ve saved a down payment, your credit…

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  • Glossary

home inspection

  • Posted on August 29, 2019July 26, 2022
  • by BrightDime

A home inspection is undertaken after an offer is accepted on a home, and before closing. The purpose of the home inspection is to identify any potential issues with the…

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  • Glossary

contingency

  • Posted on August 29, 2019July 26, 2022
  • by BrightDime

A contingency is a condition of a contract that must be fulfilled for the contract to move forward. They are common in the home buying process to protect buyers by…

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  • Glossary

title

  • Posted on August 29, 2019July 26, 2022
  • by BrightDime

Title is a legal term that indicates who legally owns a piece of property. Most people will encounter titles as they apply to a car or a home. Before buying…

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  • Glossary

appraisal

  • Posted on August 29, 2019July 26, 2022
  • by BrightDime

An appraisal is a neutral third party’s estimate of the value of a specific asset. Appraisals in the home buying process are performed by professional, often licensed or certified, appraisers…

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  • Glossary

underwriting

  • Posted on August 22, 2019July 26, 2022
  • by BrightDime

Underwriting is the process a lender undergoes to determine if a potential loan is an acceptable credit risk i.e. is the borrower likely to repay the loan? An underwriter will look…

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Down Payments: How Much Is Enough?

  • Posted on August 8, 2019July 26, 2022
  • by BrightDime

A down payment is the amount of money you pay up front when buying something with a loan; like a car or in this case, a home. Here’s a quick…

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  • Glossary

secured debt

  • Posted on July 3, 2019July 26, 2022
  • by BrightDime

Secured debt is a loan backed by assets (collateral), such as a home or car which “secures the loan” with an item that the lenders can take ownership of and…

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