mortgage guide

  The Home Affordable Refinance Program (HARP) was a housing crisis lifesaver, enabling millions of homeowners to refinance their mortgages when banks wouldn't. But like all government programs, it had an end date. The home affordability refinance program  expired in 2018. Many homeowners were left wondering, "Now what?" Let's see what happened next and why. Why HARP Was Created HARP started in 2009 as a response to the 2008 financial collapse. There were underwater homeowners at that time with millions of them owing more on their home than their home was worth. Mainstream lenders would not lend to them. HARP stepped in and gave these homeowners a chance to refinance to cheaper loans. The Program's Sunsetting HARP was never meant to be permanent. As the housing market recovered and home values crept back up to pre-crisis levels, fewer and fewer homeowners were underwater. By the time 2018 rolled around, demand for HARP had dwindled considerably. It faded into the ...

  Halal loans are conceived to be compatible with Islamic finance principles—riba-free (interest-free), open in character, and ethical risk-sharing. Nevertheless, for all their self-evident merits and pragmatic advantages, few people are willing to venture into them because of common misconceptions. Whether you're a first-time buyer or an entrepreneur seeking financing, it's time to get the record straight. Here are some of the most common myths regarding halal home loan —and the truth behind them. Myth #1: Halal Loans Only for Muslims The word "halal" originates from Islamic law, but the advantages of Sharia finance are not unique to a religion. Many non-Muslims enjoy halal loans since they are based on ethical grounds, fixed payments, and no interest element. Halal loans are constructed on asset-backed transactions, and not guesswork on credit, and thus they are attractive to anyone who wants transparency and honesty in finance. Myth #2: Halal Loans Are Essentially ...