The concept of escrow can be confusing, regardless of how long or how little you’ve been a homeowner. However, it plays a fundamental role in your home purchase, as well as the servicing and payment of your mortgage.
Carrington Mortgage Services, LLC Learning Center
As a homeowner, you have two powerful tools thanks to all the equity you may have in your property: cash-out refinances and home equity loans. Understanding the nuances of each can empower you to make informed financial decisions and maximize the potential of your home's equity.
Home equity is a homeowner's interest in their property, representing the portion of the home's value that they own outright. It's calculated by subtracting the outstanding mortgage balance from the home's current market value. As you repay your mortgage or as your home appreciates, your equity grows, becoming a valuable resource for financing major expenses, investments or even debt consolidation.
Looking to access your tax documents for this year? If you’ve opted to receive 1098 and 1099 statements electronically, your 2023 Year-End Statement can now be accessed via the Documents section of your account.
Your 1098 statement, or Mortgage Interest Statement, is used for reporting the amount of interest and related expenses you paid on your mortgage within the tax year. The 1099 statement is used to report different sources of income throughout the tax year. With these two statements, you can be well prepared for tax season in April!
At Carrington, your security and peace of mind are our top priority, and we’re committed to taking proactive measures to safeguard it. To provide extra protection for your Carrington account, beginning March 4, 2024, you must use Two-Factor Authentication (2FA) to access your online account.
This Valentine’s Day, love is in the air! Not only does that apply to friends and family, but it also can apply to your home! Now is a great time to show your home a little extra love with some small and simple changes.
It’s that time of year again! If you’ve opted to receive 1098 and 1099 statements electronically, your 2023 year-end statement can be accessed via the Documents section of your account in late January. If you’ve enrolled in paperless delivery, you will be notified via email once it’s available. If you have not elected to receive your statements electronically, your statements will be mailed no later than January 31, 2024.
The hustle and bustle of the holidays can be stressful. On top of day-to-day stress, managing family visits, shopping for gifts or groceries, planning holiday meals and more can sometimes be overwhelming. Here are some practical tips to help minimize the stress that comes with the holidays.
Home equity can be a valuable tool for homeowners to use. Let’s explore what home equity is and how you can use it to improve your financial situation.
With a combination of inflation, rising home prices, higher mortgage rates compared to recent years, and a short supply of housing, 2023 was tough on the housing market. In addition to rising costs, wages didn’t increase nearly as fast as homebuying costs, with the average American spending 41.4 percent of their annual income on an average-priced home according to Redfin.
Carrington Charitable Foundation’s 11th Golf Classic raises more than $1.9 million for wounded Veterans
Distinguished Veteran guests took center stage as the Carrington Charitable Foundation (CCF) held its 11th CCF Golf Classic benefitting CCF’s Signature Programs that support post 9/11 combat wounded American Veterans on October 9, 2023, at The Resort at Pelican Hill in Newport Coast, Calif. The event raised more than $1.9 million for its initiatives that enable Mobility, Stability, Purpose and Prosperity for U.S. servicemen and women returning from post-9/11 battlefields. CCF is the nonprofit organization of The Carrington Companies. More than 250 golfers participated and the event culminated in a dinner and auction attended by more than 450 people.