Article Archive September, 2007

Fannie Mae and Freddie Mac May Help Refinancing Crisis

By:

Tom Kerr - MortgageLoan.com | September 30, 2007

Fannie Mae and Freddie Mac are federal agencies with a mandate to support the mortgage markets in the U.S. Now that those markets are in turmoil, some members of Congress want them to support the refinance of subprime and jumbo loans to help relieve borrowers.

Four Questions to Ask When Financing a Car

By:

Greg Mischio - MortgageLoan.com | September 29, 2007

Car-shoppers spend a lot of mental energy preparing for the salesperson. They plan their negotiation tactics as they ready themselves for a war of the wits. They should also prepare for another key player in the car-buying process-the finance manager.

No More Home Equity Loans for College Tuition

By:

Catherine Brock - MortgageLoan.com | September 28, 2007

With mortgage lenders shutting the door on home equity loans, parents of college-bound kids may have to rethink their school, and financing, of choice.

Paying Cash for Your Home: Is it a Good Investment?

By:

Anders Bylund - MortgageLoan.com | September 27, 2007

If you could pay for your next home with cash, why wouldn't you? This could be one of the nicest problems that you'll ever have.

Five HELOC Risks

By:

Greg Mischio - MortgageLoan.com | September 26, 2007

With relatively low interest rates and tax-deductible interest, home equity lines of credit (HELOCs) have always been considered the best choice when it comes to home improvement loans. But while they might be the top lending tool for homeowners, HELOCs have their fair share of risks.

Government Relief for the Mortgage Crisis

By:

Tom Kerr - MortgageLoan.com | September 25, 2007

As the mortgage finance crisis expands, government officials are urging lenders to provide flexibility and relief to homeowners. The central bank is also supplying more money to banks to offset the impact of bad loan portfolios.

Four Signs Your Home Equity Loan is in Trouble

By:

Greg Mischio - MortgageLoan.com | September 24, 2007

The delinquency rate among home equity loans has experienced a recently frightening increase. Overly aggressive lenders may have caused the problem by relaxing their loan guidelines. But borrowers are also to blame, particularly when they fail to see the signs of financial trouble.

IRA Individual Retirement Accounts

By:

Catherine Brock - MortgageLoan.com | September 23, 2007

Individual Retirement Accounts (IRAs) provide tax benefits for responsible savers.

Student Loan Default: Don't Even Think About It

By:

Greg Mischio - MortgageLoan.com | September 22, 2007

If you have student loans, you can expect a rather unpleasant graduation present from the real world: Your lender will want you to start making loan payments. If you don't, you may wind up in default, and the consequences could be serious.

Second Mortgages and the Truth in Lending Act

By:

Catherine Brock - MortgageLoan.com | September 21, 2007

The Truth in Lending Act protects home equity borrowers by defining a rescission period and requiring lenders to disclose key terms.

Mortgage Lenders Shutting Doors

By:

Catherine Brock - MortgageLoan.com | September 20, 2007

Mortgage lenders close their doors and lay off employees by the hundreds as the industry's subprime woes continue.

Home Equity Loans More Difficult to Obtain

By:

Catherine Brock - MortgageLoan.com | September 19, 2007

Home equity loans are harder to come by as secondary market investors rethink their exposure to the struggling U.S. mortgage industry.

Countrywide's Tactics Taint the Mortgage Industry

By:

Tom Kerr - MortgageLoan.com | September 18, 2007

While the nation plunges deeper into a mortgage crisis, the leading lender is being exposed for unscrupulous mortgage lending practices. The revelations related to Countrywide-at least for now-have tarnished the entire industry's public image.

A Primer on Purchasing Bonds

By:

Catherine Brock - MortgageLoan.com | September 17, 2007

If you're looking for safety in your volatile stock portfolio, bonds can be a calming force. Here are some tips on how to buy them.

Understanding Student Loan Discounts

By:

Greg Mischio - MortgageLoan.com | September 16, 2007

A "blue light special" in a discount store can ignite a bargain shopper stampede. Discounts on student loans may not prompt the same reaction among college students, but they do offer significant cost-savings.

Use Caution with Second Mortgages

By:

Greg Mischio - MortgageLoan.com | September 15, 2007

The phrase "buyer beware" is supposed to keep consumers on their toes whenever they hit the malls or buy online. Homeowners should heed a similar warning-"borrower beware"-especially when it comes to home equity loans.

Mortgage Breakthroughs: Pay with Credit Card

By:

Greg Mischio - MortgageLoan.com | September 14, 2007

The savvy consumer knows that if you charge every cent and make payments each month, your credit card rewards program can pay off in a big way. Two new programs now integrate mortgages, as well, and each offers significant payoffs.

Is it Time to Buy a New Home?

By:

Catherine Brock - MortgageLoan.com | September 13, 2007

Consistently timing the market is impossible; make your home-buying decisions based on what you want and what you can afford.

Countrywide Mortgage Gets Rescued

By:

Tom Kerr - MortgageLoan.com | September 12, 2007

With mortgage companies dropping like flies thanks to massive numbers of bad loans, it's surprising to find that one has attracted a well-heeled investor. Countrywide may be in financial trouble, but Bank of America apparently views it as an undervalued bargain.

Is a Cash-out Refinancing Right for You?

By:

Ellen B. Rosenthal - MortgageLoan.com | September 11, 2007

In a cash-out refinancing, you take out a new mortgage for an amount that's larger than your current principal balance. You can then use the extra money as you wish. Just make sure that you compare the costs of this type of financing with the costs of a home equity loan before proceeding.

Tips for Sellers in Risky Markets

By:

Catherine Brock - MortgageLoan.com | September 10, 2007

Experts say the real estate downturn hasn't hit the bottom yet. That puts even more pressure on sellers to make their homes attractive and affordable to buyers.

Credit Cards and Identity Theft

By:

Greg Mischio - MortgageLoan.com | September 09, 2007

Identity theft is not an Internet-borne crime. Before the rise of the online world, there were plenty of credit card thieves and check kiting (fraud) schemes. However, the web has provided identity criminals with new opportunities, and consumers with new challenges.

How Will Mortgage Market Mayhem Affect You?

By:

Tom Kerr - MortgageLoan.com | September 08, 2007

The hemorrhaging of the subprime mortgage industry is the news of the year, but only a small percentage of consumers directly participate in these kinds of special loans. All of us will feel the financial aftershocks, however, when we apply for other mainstream mortgage products.

Perfect Timing for Refinancing?

By:

Greg Mischio - MortgageLoan.com | September 07, 2007

Making a living as a stockbroker is hardly a walk in the park. To help their clients make successful investments, they must correctly interpret countless market variables. You face a similar challenge if you're trying to pick the perfect time to refinance your mortgage.

Home Equity Debt Can Reduce Capital Gains Taxes

By:

Catherine Brock - MortgageLoan.com | September 06, 2007

Capital gains earned from the sale of your home can lead to a huge tax bill. Learn how to minimize your capital gains bill by raising your cost basis through home improvements.

Investing: Safety in Diversity

By:

Anders Bylund - MortgageLoan.com | September 05, 2007

When one market goes down, another is likely to rise just as quickly. As a result, a diverse portfolio is your best safeguard against crashes and popped bubbles.

Hedge Your Bets in a Challenging Mortgage Environment

By:

Tom Kerr - MortgageLoan.com | September 04, 2007

The mortgage market is in turmoil, and lenders are hyper-vigilant. In such a cautious climate, borrowers need to have a backup plan in case they get turned down when applying for a loan. One idea is to submit multiple simultaneous applications.

Credit Cards: A Brief History

By:

Catherine Brock - MortgageLoan.com | September 03, 2007

The concept of credit dates back some 3000 years. The credit card, as we know it today, dates back almost 60-a far more modern invention.

Refinance to Safety

By:

Greg Mischio - MortgageLoan.com | September 01, 2007

Adjustable-rate mortgages (ARMs) used to be the apple of a homeowner's eye. With their low teaser rates, ARMs offered smaller monthly payments than most fixed-rate products. But today's rising rates and tightening lending standards have turned the apple rotten, and forced homeowners to look at other options, like mortgage refinancing.