August 4, 2011
- Helping Your Child Buy a Home
Here's how parents can help with the downpayment, satisfy lenders and not pay any gift tax.
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July 29, 2011
- Modifying Your Loan To Prevent Foreclosure
Record volumes of home foreclosures in The united states are producing challenging instances for property owners. Obtaining a loan modification could be the smartest thing you ever do. Homeowners all across America are finding it difficult to repay loans due to layoffs and adaptable rate mortgages. Foreclosure solutions are being searched for by these home [...]
July 26, 2011
- Mortgages: Closing Costs Are Rising
Mortgage closing costs are on the rise across the nation and are up 8.8% over the last twelve months. Origination and title fees on a $200,000 home loan average $4,070 nationally according to Bankrate Inc.’s 2011 Closing Costs Survey.
Banks are requiring extra employment verification and the like to keep loans in shape for Fannie Mae [...]
July 11, 2011
- Underwater Homeowners: Little Help From the Government
Fewer than 5,000 homeowners have taken advantage of an Obama administration program that aids “underwater” homeowners, reflecting banks’ resistance to offer such principal write-downs.
The administration in March 2010 unveiled a multi-part effort designed to encourage banks to slash principal balances for borrowers whose homes have plunged in value due to the housing bust. It attracted [...]
July 5, 2011
- Should You Incorporate?
Is incorporating your small business worth the time and money? Stacy Johnson offers some tips for deciding…
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June 29, 2011
- Mortgages: Strategies for Getting Approved
Before a buyer even begins to look at homes, it is critical to know if they qualify for a mortgage, and how much of a loan they qualify for. There are several proactive steps that can be taken in order to prepare for getting approved for a mortgage. If followed, these tips will successfully guide [...]
June 28, 2011
- Mortgages: Should You Keep Paying On Yours?
Should you keep paying your mortgage on a home that's dwindling in value? No way, say an increasing number of underwater homeowners who are voluntarily choosing to "walk away" from their home loans, a practice known as "strategic default."
Jon Maddux, CEO of YouWalkAway.com, reports 10% more clients this year to his company, which advises people [...]
June 22, 2011
- Buying A Foreclosed Home
Foreclosure begins when a property owner defaults on the mortgage of a property, mainly due to financial difficulties or the inability to keep up with the mortgage payments. In the event a property succumbs to a foreclosure, it's likely that the property has not been maintained as it should have been. This means perhaps the [...]
June 20, 2011
- Mortgage Denied? Here Are Some Possible Reasons
Getting a mortgage just keeps getting tougher, and many homebuyers are getting rejected for loans they could easily afford.
The issue: Tighter standards from Fannie Mae and Freddie Mac, the government entities that back mortgages made by banks.
A quarter of all mortgage loan applicants get denied for loans, according to the Federal Reserve. Many other potential [...]
June 15, 2011
- Closing on Your Mortgage
If you’re in the process of buying a home for the first time, you’re probably wondering about what you can do to help make the mortgage closing process smoother. To do this, it’s important to understand your role as well as your mortgage lender’s role is in the home-buying process.
Your Mortgage Company’s Role
Your mortgage lender’s [...]
June 2, 2011
- Housing Rescue Scams
If you've considered an easy fix for your mortgage debt, beware.
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May 20, 2011
- Mortgage Costs Are Going Up
With the housing market still struggling to recover, the last thing it needs is more expensive mortgages. And yet, that's exactly what it's getting…
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May 18, 2011
- FICO Profiles the Strategic Defaulter
Strategic default refers to a relatively new phenomenon where borrowers who have the capacity to make their mortgage payments but choose instead to default, often because the property value is less than what they owe on the mortgage loan.
Last year, the practice had become such a concern within the industry that Fannie Mae announced policy [...]
May 11, 2011
- Second Mortgages: Are They Twice as Much Trouble?
A second mortgage, the second loan secured against the home, and second in importance to the first, means that should the borrower not be able to pay off the loan in full and the bank or money lender repossessed the home to recoup their losses, the first loan would be paid off first and the [...]
May 7, 2011
- Lenders Improving Foreclosure Quality
Real estate investors have been renovating properties for years in order to sell them more quickly and at a higher price point. Banks, on the other hand, have tended to let their REO properties remain largely “as-is” when they market them whenever possible. Now, however, with so much competition for buyers, many lenders are “sprucing [...]
April 21, 2011
- Stop Foreclosure: Things You Should Consider to Save Your Home
The threat of facing a foreclosure is a not a trivial thing. It can lead to anxiety or depression. The thought of losing your precious home can be frustrating and embarrassing especially if it’s your biggest investment.
A foreclosed home attracts more buyers who want to invest in cheaper, but good properties, and grab a [...]
April 13, 2011
- Avoiding Refinancing Costs After Divorce
Divorced homeowners stuggling with the task of removing a former spouse’s name from the mortgage after buying out his or her equity stake in the marital house may think refinancing is the only choice.
There is another, little-known option that could possibly help you avoid refinancing and its costs, which generally run 3 to 6 [...]
April 12, 2011
- Buying a House: Mortgage Shopping
You wouldn't think of paying an extra 50 grand for that new house. But if you're not careful, you might waste that much on the mortgage…
Have questions about mortgage shopping? We'd love to hear from you. Just click the comment link below and ask away. We'll get back to you here with answers.
April 10, 2011
- Reverse Mortgage Loans - What You Should Know
A reverse mortgage loan is one in which a finance company buys the equity in a home. While the homeowner is alive, the company will make monthly payments to the owner. The homeowner may alternatively opt to receive a lump sum payment. After the homeowner passes, moves, or sells the house, the loan becomes due. [...]
April 7, 2011
- Your Credit May Not Be As Strong As You Think
You pay your apartment rent on time every month. You never miss a utility bill. Your credit score, then, must be strong, right? Maybe not. The only way to know for sure is to check your annual free credit report.
Your three-digit credit score is one important number. Lenders of all types, whether they’re passing out [...]
