Ask the Expert (FAQs)

Below you can read several articles by Barbara Cunningham, St. Mary's vice president of Residential Lending, and an industry expert in the matters of real estate. Her articles have appeared in The Nashua Telegraph and The New Hampshire Union Leader.  Click on any of the links provided to read the full article.

You can also read more mortgage related frequently asked questions by clicking here.

Published in The Nashua Telegraph

• What is meant by the term “short sale”? I’ve heard this term used a lot lately with regard to the sale of homes, but I don’t understand it or how it could affect my purchase of a home.

• I have noticed mortgage interest rates rising a bit in the last month or so. What is causing this?

• What is a “Good Faith Estimate” and why is it called that?

• I’ve been hearing a lot lately about reverse mortgages. What exactly is a reverse mortgage and how does it work?

• Is there anything different about the way one would go about buying a property at a foreclosure?

• Why are so many people losing their homes, lately, to foreclosure?

• Is it a bad time to buy a home?

• What is “REO” property?

• I had a home inspection done recently on a property I was planning to purchase and was told that it had a “mold” problem, so we didn’t pursue purchasing the home. Why has this become such an issue lately?

• I’ve been hearing a lot, lately, about a pending “credit crunch” in the mortgage market. I don’t understand how this is connected to the sub-prime mortgage problems that have been in the news. Please explain.

• What is meant by the term “contingent” commitment and how does it affect my home purchase?

• What is an AVM appraisal?
  

Published in The New Hampshire Union Leader "Avenues" section

• Everywhere you look in the news these days, the message is cautionary and there’s a lot of commentary about a “credit crisis”?  Are average consumers being affected by this?   How is the home-buying market being impacted?
  
  
• Why Is This an Outstanding Time to Buy a Home?
  
  

• I’ve been hearing a lot, lately, about a pending “credit crunch” in the mortgage market. I don’t understand how this is connected to the sub-prime mortgage problems that have been in the news. Please explain.

• What is meant by the term “contingent” commitment and how does it affect my home purchase?

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