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Government-Insured FHA Mortgages Rising in Popularity

By:: Tom Kerr - MortgageLoan.com | December 31, 2008

Although they fell from favor (and nearly off the radar) during the last real estate run-up, FHA and VA mortgage products are now grabbing powerful market share. Government-backed loans currently account for about a third of all mortgage applications in the U.S.

HOPE NOW Boasts 1 Million Mortgage Loan Modifications in 2008, Promises More in 2009

By:: Bill Rice - MortgageLoan.com | December 31, 2008

Nearly 3 million homeowners will enjoy Christmas in their own homes this year because of the cooperation and programs of the HOPE NOW program. HOPE NOW closes out 2008 with nearly 1 million in loan modifications. This alliance created an unprecedented effort by private mortgage servicers, counselors, and investors to stem the rising tide of foreclosures.

Mortgage Rates Head Lower

By:: Bill Rice - MortgageLoan.com | December 31, 2008

Mortgage rates are again trending lower on a very short trading day.

Spooked by the Market? Keep Thinking Long Term!

By:: Anders Bylund - MortgageLoan.com | December 30, 2008

It's okay to be scared. Don't let fear ruin your portfolio, though. Investors who let emotions rule their trades rarely keep a long-term focus. Despite their good intentions, they forget about investing in great businesses and reaping the benefits of their growth over the years. Instead, the stock market becomes a high-stakes poker table.

Home Improvement taking a Hit from Financial Crisis

By:: Greg Mischio - MortgageLoan.com | December 30, 2008

The tables have turned in the home improvement world. During the red-hot housing market, finding a contractor who would perform simple home improvement jobs was nearly impossible. As the market has iced over, renovation specialists are finding that the shoe is definitely on the other foot.

Mortgage Rates Stay Low Through Holiday

By:: Bill Rice - MortgageLoan.com | December 30, 2008

Mortgage rates stay low, but volatile with an upward trend.

Payday Lenders making a Comeback

By:: Greg Mischio - MortgageLoan.com | December 29, 2008

In the aftermath of the subprime lending crisis, it seems logical that high-risk loans would be scorned by the financial community. An increase in payday lending, however, proves that this is not the case. It's also an indication that the check cashing business is here to stay.

End of Year Tax Planning, What to Do with that Bonus?

By:: Bill Rice - MortgageLoan.com | December 29, 2008

December brings holiday cheer and the end of the 2008 tax year. Not exactly "visions of sugar plums dancing," but certainly in the dreams of most adults as 2008 comes to a merciful close. How can you position yourself this month to maximize your 2008 tax savings?

Is there a New Housing Boom in California?

By:: Catherine Brock - MortgageLoan.com | December 28, 2008

Housing sales in California picked up in October, prompting some to wonder if a recovery might be in the making.

Seven Ways to Improve Your Credit

By:: Greg Mischio - MortgageLoan.com | December 27, 2008

This holiday season, give yourself the gift of improved credit. Use these seven simple steps to improve your credit and your score. A better score gives you access to cheaper credit-a true luxury in this tight economy.

FDIC-Backed Debt Selling like Hot Cakes

By:: Catherine Brock - MortgageLoan.com | December 26, 2008

Finally, the feds may have made a strong move to start thawing the credit markets. The FDIC's TLGP is giving financial institutions the power to raise cash by issuing low-risk debt securities.

Modified Mortgage Refinances Continue to Re-default

By:: Bill Rice - MortgageLoan.com | December 26, 2008

US bank regulators continue to report escalating re-default rates on mortgage loan modifications. Data being assembled by bank regulators is showing a steady trend of rising month-over-month loan work-outs falling back into delinquency within six months.

Making the Move: Fed Attacking High Mortgage Rates

By:: Tom Kerr - MortgageLoan.com | December 25, 2008

The Federal Reserve and Treasury, faced with growing challenges and public outcry related to urgently needed bailout plans, are now attacking high mortgage rates. By doing so, they hope to help thaw credit markets, revive the dying real estate sector, and boost the overall economy.

Loan Modifications may only be a Bandage for Foreclosures

By:: Tom Kerr - MortgageLoan.com | December 24, 2008

Many critics-especially those who stand to lose money when mortgage restructuring occurs-say that loan modifications may only be delaying inevitable foreclosures. They argue that loan modification can mask problems temporarily, but can't make those troubles go away.

Protect your Finances from becoming another Recession Victim

By:: Catherine Brock - MortgageLoan.com | December 24, 2008

The first lesson of personal finance is to budget your income and spend wisely. The second lesson is to get even more conservative about your spending when recession is knocking at the door.

Stop the Lending--Mortgages Grinding to Halt in 2009

By:: Tom Kerr - MortgageLoan.com | December 23, 2008

Those who think that the credit crisis put the brakes on mortgage lending this year may be surprised to see mortgage levels deteriorate even more in 2009. Many experts expect to see the pace of both commercial and residential mortgage loan activity grow even more sluggish next year.

Key to Economic Recovery: Job Creation

By:: Catherine Brock - MortgageLoan.com | December 23, 2008

President-elect Obama says he has his team working on a bold plan to create 2.5 million jobs by January 2011.

Pre-holiday Mortgage Reporting Unlikely to Bring Cheer

By:: Bill Rice - MortgageLoan.com | December 23, 2008

Today brings the release of existing home sales, new home sales, and housing price data. All mortgage news that is not expected to excite investors or economist about recovery in 2009. However, Wednesday's Mortgage Bankers Association's mortgage applications data is likely to be a ray of hope with mortgage rates trending downward.

Subprime Mortgage Wolves Return in Sheep's Clothing

By:: Catherine Brock - MortgageLoan.com | December 22, 2008

Former subprime masterminds are back in action, but now they're targeting FHA loans.

All Fall Down: What if Fed Rates go to Zero?

By:: Tom Kerr - MortgageLoan.com | December 22, 2008

If the Federal Reserve keeps cutting rates until they hit zero, it might stimulate the economy by boosting the housing market. On the other hand, dropping Fed rates to zero also may put us into an even more precarious situation by driving down the prices of goods and the value of the dollar, inviting ugly economic deflation.

Mortgage Refinance Applications Surge on Falling Mortgage Rates

By:: Bill Rice - MortgageLoan.com | December 22, 2008

Mortgage brokers and loan officers are reeling from a surge of mortgage applications that have challenged their dwindled numbers. Fighting nearly a two year battle just to survive mortgage companies and banks are scrambling to handle the work load. A very nice Christmas present for mortgage bankers as mortgage refinance applications jumped 6.5 percent over the previous week.

Mortgage Rates Continue to Improve

By:: Bill Rice - MortgageLoan.com | December 22, 2008

Mortgage rates are still improving from the confidence boost issued by Fed Chairman Bernanke last Tuesday.

Obama to HUD: Be Part of the Mortgage Crisis Solution

By:: Catherine Brock - MortgageLoan.com | December 21, 2008

President-elect Obama would like to see a strong HUD leading the country out of the housing crisis. But is that realistic?

Foreclosure Fraud on the Rise

By:: Catherine Brock - MortgageLoan.com | December 21, 2008

Data provided by RealtyTrac indicates that third quarter 2008 foreclosure filings numbered roughly 765,000. This spells gold for conmen who are willing to pounce on tragedy.

Learning to Live with the Bear Market

By:: Anders Bylund - MortgageLoan.com | December 20, 2008

This current bear is rewriting the rules of investing.

Want Higher CD Rates? Try Troubled Banks!

By:: Catherine Brock - MortgageLoan.com | December 20, 2008

Cash investors can put their money in U.S. Treasuries or passbook savings accounts to earn less than 1 percent annually. Another alternative is to open a CD with a cash-poor bank, and log returns in excess of 3.5 percent.

Bush Offers Holiday Gift for Suffering Americans

By:: Greg Mischio - MortgageLoan.com | December 19, 2008

Santa has come early for unemployed workers and troubled homeowners. President Bush recently signed into law an extension of unemployment benefits and a moratorium on home foreclosures. With more jobs being lost every day, and Fannie Mae and Freddie Mac in deep trouble, will this gift last longer than the holidays?

30-Year Mortgage Rate Hits 37 Year Low, Borrowers Rush to Refinance

By:: Bill Rice - MortgageLoan.com | December 19, 2008

The 30-year mortgage rate dropped for the seventh consecutive week, hitting its lowest level since 1971. This has hit mortgage brokers and lenders with a surge of homeowners and refinance applications looking for a Christmas bonus.

Mortgage Rates at 37 Year Low

By:: Bill Rice - MortgageLoan.com | December 19, 2008

Mortgage rates have dropped to the lowest rates since 1971. The 30-year mortgage is now reported by Freddie Mac at 5.19 percent.

Fed President Lacker Sees Positive Trends in 2009

By:: Tom Kerr - MortgageLoan.com | December 18, 2008

Virginia Federal Reserve Bank President Jeffrey Lacker has a rather positive outlook for 2009, which is actually shared by other economists. If Lacker is right about his forecast for the economy in 2009, it will be cause to celebrate.

Home Equity Lines of Credit Targeted by Criminals

By:: Greg Mischio - MortgageLoan.com | December 18, 2008

A favorite target of criminals used to be subprime borrowers. As the market for subprime loans collapsed, mortgage fraud crooks set their sights on another type of home loan. They're now focused on the home equity line of credit (HELOC), and homeowners need to be especially vigilant.

Trendy Business Move-Becoming a Bank

By:: Catherine Brock - MortgageLoan.com | December 17, 2008

Financial companies are applying for bank holding company status to diversify and improve their access to cash.

Federal Reserve Slashes Rates. Will it Lower Mortgage Rates?

By:: Bill Rice - MortgageLoan.com | December 17, 2008

Will the Federal Reserve announcement to lower the Fed funds rate lower mortgage rates? Yes.

Some Lucky Americans Escaping Mortgage Chaos

By:: Tom Kerr - MortgageLoan.com | December 17, 2008

A recent report on the economy showed that there are more than 9,000 foreclosures per day, on average, across the USA. But in some regions, especially those where prices didn't experience dramatic escalations during the real estate bubble, the housing markets are relatively stable.

Bush Cautious of Regulatory Intervention in Capitalist Economies

By:: Catherine Brock - MortgageLoan.com | December 16, 2008

President Bush admits the need for economic reform, but emphasizes the importance of keeping capitalism alive and well.

Federal Reserve and Bernanke Committed to do More

By:: Tom Kerr - MortgageLoan.com | December 16, 2008

Fed Chairman Ben Bernanke continues to remind America that the Fed is dedicated to fixing the economy. But the problems are global, require cooperation from central banks worldwide, and are unprecedented in the history of the world.

Homeownership Getting More Affordable

By:: Greg Mischio - MortgageLoan.com | December 16, 2008

Long gone are the days of the "bubble" in the real estate market. We're now beginning to see signs that we've reached the bottom, as falling real estate sales have created more affordable housing. Prices are more in line with median incomes around the country, providing a strong signal that the end of the slump may be in sight.

Fed Slashes Rate to 0.25-0%

By:: Bill Rice - MortgageLoan.com | December 16, 2008

Today the Federal Reserve slashed it's key rate to a floating rate between 0.25% and 0%.

Path to Economic Recovery: Made in China

By:: Anders Bylund - MortgageLoan.com | December 15, 2008

The Chinese economic model could save America from its debt-ridden quagmire.

Mortgage Rate Declines Lead to Increased Applications

By:: Catherine Brock - MortgageLoan.com | December 15, 2008

Demand for purchase and refinance mortgages have risen from their historic lows on the strength of lower interest rates.

Mortgage Loan Rates and Housing Prices Make it Buyers Market

By:: Bill Rice - MortgageLoan.com | December 15, 2008

First time home buyers may be entering the market of a lifetime. Mortgage rates are already at a record low 5.5 percent, and the Treasury is determined to make that 4.5 percent. Housing prices are also at record lows and plentiful. If you are looking for your first home, now is the time to start getting serious.

Mortgage Rates Flat

By:: Bill Rice - MortgageLoan.com | December 15, 2008

Mortgage rates remain flat today. Market anticipates Federal Reserve benchmark rate announcement tomorrow.

Budget Deficit needs to get Bigger to get Better

By:: Catherine Brock - MortgageLoan.com | December 14, 2008

This year, government spending is set to annihilate previous U.S. budget deficit records. Even so, the government may be under pressure to spend more, not less.

Bottomless Pit? Freddie Mac Needs More Bailout Money

By:: Tom Kerr - MortgageLoan.com | December 14, 2008

Freddie Mac and its counterpart, Fannie Mae, were originally created in the beginning of the last century to strengthen the nation's real estate economy. Now, taxpayers are being forced to return the favor with a massive bailout of these two institutions. The economy is worsening, and Freddie Mac needs quick cash.

Controversy Brews over FDIC Debt and Bank Guarantee Plans

By:: Tom Kerr - MortgageLoan.com | December 13, 2008

Major banks, including Citigroup, Wells Fargo, JPMorgan Chase, and Bank of America, recently told the government that the FDIC program to back their bonds is not a strong enough guarantee. They want unconditional support; but the FDIC wants a more regulated and controlled bailout.

Understanding Your Mortgage Loan Modification Options

By:: Greg Mischio - MortgageLoan.com | December 13, 2008

The government's massive $750 billion bailout plan was supposed to include loan workout provisions. Those provisions are beginning to take shape, based on recent modified loan programs released by Fannie Mae, Freddie Mac, and some private lenders. The big question remains: Will these efforts actually help homeowners?

Is Bair Barking up Wrong Housing Recovery Tree?

By:: Tom Kerr - MortgageLoan.com | December 12, 2008

While FDIC Chairman Sheila Bair continues to push for loan modifications to save homeowners and stabilize banks, the White House seems to be turning a deaf ear to her pleas and warnings. She's been pushing banks and politicians for radical action for an entire year, to no avail.

What can Obama Do to Save the Housing Market?

By:: Catherine Brock - MortgageLoan.com | December 12, 2008

Barack Obama has some options when it comes to healing the fractured housing market.

Private Equity and Investors Resurrect Idea to Buy Troubled Mortgage Loans

By:: Bill Rice - MortgageLoan.com | December 12, 2008

Funny how ideas can come full circle. It seems some private equity and investors think US Treasury Secretary Paulson's first plan was a pretty good one--buy troubled mortgage assets of bank balance sheets. In fact, a few have offered to take that opportunity with the government's help.

Auto Bailout Fails, Mortgage Rates Lower

By:: Bill Rice - MortgageLoan.com | December 12, 2008

The auto bailout fell apart in the Senate yesterday, as Senate Majority Leader Harry Reid (D-NV) pulled the plug on the legislation.

False Alarm: No Credit Card Forgiveness from Uncle Sam

By:: Greg Mischio - MortgageLoan.com | December 11, 2008

For people drowning in credit card debt, the hope that Uncle Sam's cavalry is coming appears to have been dashed. The Treasury Department nixed any type of a debt settlement program after a roundtable meeting of banks and consumers, leaving many debt-ridden consumers out of luck.

G20 Summit Offers Hope

By:: Catherine Brock - MortgageLoan.com | December 11, 2008

Global leaders met to strategize on how to save the global economy from further economic damage.

Mortgage Rates Down, But Mortgage Loan Applications Decline

By:: Bill Rice - MortgageLoan.com | December 11, 2008

The US government continues to be successful in driving down mortgage rates, with the 30-year fixed-rate mortgage averaging below 5.5 percent. However, surprisingly mortgage applications are moving in the wrong direction--down over 7 percent from last week.

30-Year Fixed Down, Time to Buy?

By:: Bill Rice - MortgageLoan.com | December 11, 2008

Director Lockhart, Fannie Mae and Freddie Mac chief regulator, talks about moving mortgage rates down to 4 percent.

Bailing Out the Auto Industry

By:: Greg Mischio - MortgageLoan.com | December 10, 2008

Where will it end? That's the question on everyone's mind as GM, Ford, and Chrysler-the big three of the U.S. auto industry-paid a visit to Washington, D.C. The companies want a piece of the government bailout, but no one is quite certain if such a move will help the ailing automakers.

Credit Unions: The Homeowner's Friend

By:: Catherine Brock - MortgageLoan.com | December 10, 2008

Credit unions that bypassed the mortgage meltdown are increasing their loan production as other lenders falter.

Congress Awaits $350 Billion TARP Request from Bush Administration

By:: Bill Rice - MortgageLoan.com | December 10, 2008

The mortgage crisis is still in full swing, but will the Bush administration request the remaining $350 billion in TARP funds? If so, he may have a battle from both sides of the aisle. Democrats have specific earmarks in mind and the Republicans are still having remorse for passing TARP at all.

Mortgage Rates Inching Down

By:: Bill Rice - MortgageLoan.com | December 10, 2008

Mortgage rates continue to improve. Slowly moving downward in anticipation that the US government will force them down to 4.5 percent.

Layaway Plans Making a Comeback

By:: Catherine Brock - MortgageLoan.com | December 09, 2008

Consumers are embracing once-outdated layaway plans to help them budget for holiday shopping.

Retailers Bracing for a Very Unmerry Christmas

By:: Greg Mischio - MortgageLoan.com | December 09, 2008

The recession has moved from the headlines to the check-out lines. Following a major drop in consumer confidence, retail sales have dropped precipitously. Forecasts indicate that the Christmas season won't change the trend.

Bank Regulators Reporting Mortgage Loan Modifications Still Defaulting

By:: Bill Rice - MortgageLoan.com | December 09, 2008

Bank regulators and congressional leaders are still at a loss on how to help troubled homeowners. A surprising report by the Office of the Comptroller of the Currency (OCC) revealed 51 percent of borrowers receiving modifications to their mortgage loans become delinquent or slip back into foreclosure within 6 months.

Mortgage Rates Flat

By:: Bill Rice - MortgageLoan.com | December 09, 2008

Mortgage rates have hit a temporary stability for the last few days.

Upside-Down on Your Mortgage? There may be help!

By:: Tom Kerr - MortgageLoan.com | December 08, 2008

If you owe more on your home than it's worth-in other words, if you have negative equity or are "upside down" in your mortgage-there may still be hope for solving your problem. The options require sacrifice, but could potentially help you avoid greater financial woes.

Will Your Credit Card Limits be Cut Back?

By:: Tom Kerr - MortgageLoan.com | December 08, 2008

Consumers should be on the lookout for notices from credit card companies. They may look like junk mail, but the information inside may be anything but-it could describe the new terms of your card. With consumer credit already stretched to the max, many Americans may find that their plastic limits are shrinking, even as interest rates rise.

Mortgage Loan Delinquency Rates Rise 54 Percent from Previous Year

By:: Bill Rice - MortgageLoan.com | December 08, 2008

It would be stating the obvious to say we are in a mortgage crisis, but the daily financial news makes it hard not to regularly restate the facts. Despite the variety of government bailout programs and government refinance and assistance programs the economy and the housing market continues to stall. The net effect is that the mortgage market and homeowners continue to move into uncharted and desperate waters.

Will Auto Deal Move Mortgage Rates?

By:: Bill Rice - MortgageLoan.com | December 08, 2008

Mortgage rates look to open flat. However, good news on the auto industry front may move the stock market up and mortgage bonds down.

Asking your Parents for Down Payment Help

By:: Catherine Brock - MortgageLoan.com | December 07, 2008

Lenders are raising down payment requirements, setting the stage for more parent-funded solutions.

Credit Card Companies Analyzing You, Again

By:: Greg Mischio - MortgageLoan.com | December 07, 2008

The credit crunch is causing some knee-jerk reactions by credit card companies. Shaken by the fallout from the subprime mortgage crisis, they're reevaluating consumer credit. Then, they're shrinking card limits and charging higher interest rates.

Lessons for First Time Home Buyers

By:: Greg Mischio - MortgageLoan.com | December 06, 2008

Buying a new home is a complicated procedure. It takes patience, planning, and great timing. For a first time homebuyer, the process can be fraught with financial landmines.

Reverse Mortgages are a Retirement Savior

By:: Tom Kerr - MortgageLoan.com | December 06, 2008

Reverse mortgages allow people who are age 62 and older to borrow against their home equity, and then get paid in regular installments by the mortgage company. Now that higher limits have been authorized for reverse mortgages, this good retirement resource just got a whole lot better.

Buying a House on Layaway

By:: Anders Bylund - MortgageLoan.com | December 05, 2008

Homebuilders want to help you save money-so you can buy a house.

Consumers Maxing Out their Home Equity

By:: Catherine Brock - MortgageLoan.com | December 05, 2008

It's a sign of the times: Economic data indicates that homeowners may be padding their savings accounts with money borrowed from their home equity lines of credit (HELOC).

Pushing Down Mortgage Rates Unlikely to Bring New Home Buyers

By:: Bill Rice - MortgageLoan.com | December 05, 2008

Housing prices continue to plummet largely because new home buyers are unwilling to buy these bargains. Faced with fears of continued housing depreciation, mounting job losses, and declining economic conditions--they are staying on the sidelines and saving their cash. However, the US Treasury thinks pushing mortgage rates down to 4.5 percent is the answer.

Mortgage Rates End Week Down

By:: Bill Rice - MortgageLoan.com | December 05, 2008

Mortgage rates a positioned to end the week down again.

Foreclosure Moratoriums may do More Harm than Good

By:: Tom Kerr - MortgageLoan.com | December 04, 2008

One of the most popular foreclosure prevention programs is foreclosure moratorium. This process holds up the foreclosure process to give time to homeowners to get back on their feet. But some critics say that these intentional delays may create even more problems than they actually solve.

Hope for Homeowners Unattractive to Many

By:: Catherine Brock - MortgageLoan.com | December 04, 2008

The government's solution to the foreclosure crisis isn't drawing many takers, and new estimates say the program will fall far short of initial projections.

Mortgage Applications and Mortgage Refinance Surge on Mortgage Rate Declines

By:: Bill Rice - MortgageLoan.com | December 04, 2008

Mortgage Bankers Association (MBA) released their weekly report of mortgage applications revealing an enormous surge, 112 percent. Not a surprising reaction to a new Federal Reserve initiative that triggered mortgage rates to decline to a 3 year low on 30-year fixed-rate mortgages.

Treasury May Push Rates Down to 4.5%

By:: Bill Rice - MortgageLoan.com | December 04, 2008

US Treasury is currently considering a plan to push new home mortgage rates down to 4.5 percent.

Budget Deficit may Hinder Obama's Economic Plan

By:: Catherine Brock - MortgageLoan.com | December 03, 2008

Barack Obama earned the office of the presidency on a campaign that promised sweeping change. But are his lofty goals unrealistic, given the size of the federal deficit that he'll inherit?

Obama Creating a Better TARP

By:: Catherine Brock - MortgageLoan.com | December 03, 2008

In early-October, lawmakers passed an historic $700 billion financial bailout bill in a mad dash to avert a global financial meltdown. But now, the Secretary of the Treasury has said that he's leaving the mess in Obama's hands.

Hope Now Gaining in Foreclosure Prevention as Loan Modifications Increase

By:: Bill Rice - MortgageLoan.com | December 03, 2008

The Hope Now initiative, a private mortgage lender and servicer alliance, is increasing its effectiveness in preventing foreclosures. In October, Hope Now set a new record in foreclosure prevention modifying 225,000 mortgages. That total exceeds September's loan modifications by 13,000.

Rate Volatile, but Flat

By:: Bill Rice - MortgageLoan.com | December 03, 2008

Lots of volatility today, reflecting the equity market volatility.

Great Car Deals for Stellar Buyers

By:: Greg Mischio - MortgageLoan.com | December 02, 2008

When Dickens wrote the line, "It was the best of times, it was the worst of times," he was speaking of France prior to its revolution of 1789. The statement also applies to today's auto market, and how the car purchasing process differs based on your credit score.

Law Firms and Banks Collaborating to Streamline Loan Modifications

By:: Bill Rice - MortgageLoan.com | December 02, 2008

Increasingly loan modifications are becoming the preferred mechanism to help defaulting homeowners and troubled bank mortgage asset portfolios. All of the major banks, Bank of America, JP Morgan Chase, and Citigroup have announced streamlined loan modification programs.

Mortgage Rates Stuck Again

By:: Bill Rice - MortgageLoan.com | December 02, 2008

Although mortgage rates descended to a new low in the past week, they are now stuck at these new levels.

Bad Economy Removes "Ho-Ho-Ho" from Christmas Parties

By:: Greg Mischio - MortgageLoan.com | December 01, 2008

As the holiday season rolls around, few companies seem to be in a festive mood. The bad economy has businesses tightening their purse strings, trimming off superfluous items like traditional holiday parties. Don't let the bad economy be a party-pooper. There are ways to get in the spirit without going into debt.

Homeowners in Denial about Home Values

By:: Catherine Brock - MortgageLoan.com | December 01, 2008

Here's a reality check: your home is probably worth less than you think. A quarterly survey reveals that many homeowners are overly optimistic about the value of their property.

US Retailers Hope for a Big Cyber Monday

By:: Bill Rice - MortgageLoan.com | December 01, 2008

Retailers got a welcome Holiday gift on Black Friday, with retail sales actually rising 2 percent over last year. Despite the doom and gloom of economic prognosticators consumers lined the sidewalks in the wee-hours of the morning for "door-buster" deals.

Strong Black Friday May Lift Mortgage Rates

By:: Bill Rice - MortgageLoan.com | December 01, 2008

Off a stronger than expected Black Friday and weekend of holiday weekend retail sales mortgage rates may lift.

The True Meltdown Culprit: Unsuitable Mortgages

By:: Tom Kerr - MortgageLoan.com | November 30, 2008

Foreclosure is usually attributed to mortgage borrowers, not to those who fund the loans. But this time, the blame lies with the mortgage lenders and investors who created an artificial demand for loans, and then came up with inappropriately risky mortgages to feed that appetite.

Mortgage Crisis Solution: Rate Buydown

By:: Tom Kerr - MortgageLoan.com | November 29, 2008

Mortgage rate buy down strategies are gaining momentum and enjoying widespread and diverse support as a solution to some of the nation's most pressing real estate problems. Rate buydowns would make homes more affordable, and stimulate the residential housing market with increased sales.

The Last Personal Finance Straw: Medical Debt

By:: Catherine Brock - MortgageLoan.com | November 29, 2008

Struggling to make ends meet can be a way to survive, but it gets awfully hard if you or a family member gets sick. Millions of Americans are pushed over the edge into bankruptcy or foreclosure because of high medical bills.

Reverse Mortgages Hit New Records

By:: Tom Kerr - MortgageLoan.com | November 28, 2008

As a record number of baby boomers enter retirement, the volume of new reverse mortgages is also shattering records. Senior mortgages are one of the areas of lending growth that's plowing ahead, despite the demise of many other kinds of loan products tied to the housing market.

Money Smarts: Should you Rent or Buy a Home?

By:: Anders Bylund - MortgageLoan.com | November 28, 2008

Home ownership comes with benefits that a renter could never get-but also, a few unique problems.

Retailers Caught Flat-footed by Rapid Economic Slowdown

By:: Bill Rice - MortgageLoan.com | November 28, 2008

It's Black Friday, will they come? Black Friday a term linked to the fact that traditionally all retailers "make their year" by blasting into profitable territory for the entire year on the strength of holiday sales. This year may be a stark contrast.

Four Bad Borrowing Choices

By:: Greg Mischio - MortgageLoan.com | November 27, 2008

The economic downturn has been fraught with pain, uncertainty, and fear. It also contains a number of valuable lessons in money management. Homeowners are re-evaluating how they use their home equity, especially regarding investments and debt consolidation.

Double Whammy for Senior Mortgages: Falling Prices, Rising Debt

By:: Catherine Brock - MortgageLoan.com | November 27, 2008

Seniors are grappling with the economic crisis in their own way. They must deal with the potential for higher healthcare costs and lower net worth at a time when housing values are sliding and large senior mortgage balances are limiting their options for retirement planning.

President-elect Obama Subtlety Taking the Reigns of US Economic Policy

By:: Bill Rice - MortgageLoan.com | November 27, 2008

In his regular press conferences behind the very Presidential-looking "Office of the President-Elect" podium Obama quietly is absorbing the Presidency. Despite being 11 weeks away from inauguration and still two weeks away from officially being declared President-elect by the convening of the Electoral College, he is undeniably taking the reigns of US economic policy.

Credit Card Bailout for Financially Irresponsible

By:: Catherine Brock - MortgageLoan.com | November 26, 2008

The Financial Services Roundtable and the Consumer Federation of America have joined forces to promote a credit card debt settlement plan involving debt write-offs and extended repayments.

Bank Fees on the Rise

By:: Catherine Brock - MortgageLoan.com | November 26, 2008

Don't expect budget relief from falling gas prices; your bank is standing in line to pick up the slack.

Federal Reserve Starts Printing Money to Jumpstart Lending

By:: Bill Rice - MortgageLoan.com | November 26, 2008

The Federal Reserve and US Treasury have announced another bailout, this one theoretically for consumers and small businesses. This plan involves another $800 billion.

Mortgage Rates Down 0.75%

By:: Bill Rice - MortgageLoan.com | November 26, 2008

Mortgage rates dive nearly a full percent. The 30-year fixed-rate mortgage drops to 5.5 percent in one of the largest single-day dips since 1988.

Government to Banks: Stop Hoarding Bailout Money!

By:: Tom Kerr - MortgageLoan.com | November 25, 2008

Despite urging from the White House and the Treasury Dept., banks aren't lending. Instead, they're hoarding money to bolster their own balance sheets. That's not helping consumers or the overall financial situation, and in the absence of consumer credit, the economy is stuck in reverse.

Government's Bear Stearns Bet Underwater

By:: Catherine Brock - MortgageLoan.com | November 25, 2008

The portfolio of mortgage-related assets acquired from Bear Stearns by the U.S. government is dropping in value, creating unrealized losses for taxpayers.

Housing Inventories Grow, As Housing Prices Continue Plummeting

By:: Bill Rice - MortgageLoan.com | November 25, 2008

Housing prices drop 11.3 percent, that largest descent in 40 years. One might expect that to bring on a bargain home buying frenzy. No such luck, potential home buyer are staying put. The National Association of Realtors (NAR) reported existing housing sales taking a similar decline, down 3.1 percent, continuing to increase already bulging housing inventories.

Dropping the Ball: Economic Crisis Hitting Pro Sports

By:: Catherine Brock - MortgageLoan.com | November 24, 2008

Professional sports leagues are expressing concern over the economy, and how it might impact sports attendance.

Innocent Financial Crisis Victims: Foreclosure Pets

By:: Greg Mischio - MortgageLoan.com | November 24, 2008

The foreclosure crisis in America has produced plenty of heartbreaking scenes. But now, many of these homeowners are losing more than their homes. Animal shelters have reported increases in the number of pets abandoned because of home foreclosure, adding yet more innocent victims to the sagging U.S. economy: foreclosure pets.

Citigroup Gets $20 Billion to Avert Collapse

By:: Bill Rice - MortgageLoan.com | November 24, 2008

Following Friday's 60 percent plunge of Citigroup stock, the Federal government again works through the weekend to avert disaster. The stock market took Citigroup on a plunge to $4 per share, leaving Citigroup with a $160 billion lose in value from a year ago.

Mortgage Rates Flat

By:: Bill Rice - MortgageLoan.com | November 24, 2008

Mortgage rates closed last week relatively flat. You can expect a similar result on this short week.

FHA Offers Expensive Hope for the Walking Wounded

By:: Tom Kerr - MortgageLoan.com | November 23, 2008

Homeowners hoping for an FHA loan modification or refinance will likely get the government assistance they need. But such modification, while certainly helpful at this critical time in the foreclosure crisis, isn't necessarily affordable.

Time for a Retirement Check-up

By:: Anders Bylund - MortgageLoan.com | November 23, 2008

A Wall Street recession can scare anyone, but the terror gets worse as you close in on your retirement. Whatever you do, don't panic!

Homeowners: Still Hopeful, but Recovery Slow

By:: Catherine Brock - MortgageLoan.com | November 22, 2008

One month after going live, Hope for Homeowners is making slow progress. Does this program lack what it takes to solve the foreclosure problem?

Fed Rate Cuts: How Low can they Go?

By:: Tom Kerr - MortgageLoan.com | November 22, 2008

Usually, a Fed funds rate cut of even a quarter percentage point is extreme. But within the past few weeks, the Fed has slashed rates by half a point, not just once, but twice. Now that rates stand at a half-century low mark, economists wonder how much lower Fed Chairman Bernanke can go from here.

Are Your Savings Secure?

By:: Catherine Brock - MortgageLoan.com | November 21, 2008

Banks seem to be failing left and right. Could yours be next?

Countrywide Offers a Model for Loan Modifications

By:: Tom Kerr - MortgageLoan.com | November 21, 2008

Countrywide Mortgage, now owned by its buyout rescue savior, Bank of America, earned a reputation for bilking borrowers. Now, the lender may be atoning for its sins by creating a model for loan modifications that may save homeowners, even if Countrywide isn't doing it voluntarily.

Bankruptcy Reform Back on the Table

By:: Bill Rice - MortgageLoan.com | November 21, 2008

One of the earliest ideas for helping homeowners facing mounting mortgage debt and potential foreclosure on their home was to reform bankruptcy laws. The concept is now officially back on the table, introduced into the Congressional lame-duck session by Senator Richard Durbin (D-IL).

Young People Crumbling Under Student Loan Debt

By:: Greg Mischio - MortgageLoan.com | November 20, 2008

Although politicians don't seem to agree on many things, all parties believe that educating young people is critical if America is going to regain its financial footing. Unfortunately, many students are finding that a higher education, and the student loans required to pay for it, has been priced out of their reach.

Investing in Gold: Folly or Brainy?

By:: Catherine Brock - MortgageLoan.com | November 20, 2008

Have you had it with stocks and bonds, and are you ready to try something new? Gold is an option, but make sure you know what it will and won't do for you before you buy.

TARP is Closed for Relief Until Further Notice

By:: Bill Rice - MortgageLoan.com | November 20, 2008

Remember what a crisis the $700 billion mortgage market bailout was--the very existence of the American financial order hung in the balance.

Foreclosure Prevention Efforts Gaining Steam

By:: Catherine Brock - MortgageLoan.com | November 19, 2008

Data from one foreclosure prevention group indicates that the mortgage industry may be gaining traction against the crisis; but there are still some significant challenges to overcome.

Possible Bottom for Housing Prices?

By:: Tom Kerr - MortgageLoan.com | November 19, 2008

New home sales moved up in September, and that was a positive sign that housing prices may be finally finding a floor. Recent data shows both encouraging and worrisome indicators related to a possible housing bottom, but the only certain thing in today's economy is that nothing is certain.

Fixing the Housing Market, Lots of Ideas...Any Answers?

By:: Bill Rice - MortgageLoan.com | November 19, 2008

Almost a year into the dawning of the housing crisis (many chronologist are setting that around the January 2008 crumbling of Countrywide) ideas continue to flow, but few seem to be the answer. In fact, this seems to be the growing consensus--there is no silver bullet.

Mortgage Rates Will Move

By:: Bill Rice - MortgageLoan.com | November 19, 2008

Expect significant mortgage rate movement today with the release of CPI.

Worldwide Financial Crisis: What to Tell the Kids

By:: Greg Mischio - MortgageLoan.com | November 18, 2008

Adults aren't the only ones feeling the strain of the current financial crisis. Kids also feel the stress by how their parents act, and what they see on the news. Now would be a great time to reassure your children, and use the slumping economy as a lesson in personal finance.

Financial Crisis Hits Charities

By:: Catherine Brock - MortgageLoan.com | November 18, 2008

Nonprofit organizations, like the American Red Cross, are facing sharply lower charitable contributions at a time when they need it most.

G-20 Lots of Motion, Will There Be Action?

By:: Bill Rice - MortgageLoan.com | November 18, 2008

The 20 most powerful industrial nations, and now the caretakers of an unprecedented global financial crisis, assembled in Washington DC over the weekend. Their mandate was broad and daunting--stabilize world markets.

Does Bailout Lack Adequate Consumer Help?

By:: Catherine Brock - MortgageLoan.com | November 17, 2008

The $700 billion bailout plan addresses the mortgage crisis by reaching out to institutions and investors. FDIC Chairperson Sheila Bair and other politicians are baffled by the strategy; why not help homeowners instead?

Bailout Plan Paves Way for Tax Breaks

By:: Catherine Brock - MortgageLoan.com | November 17, 2008

The financial rescue plan is loaded with tax breaks, and many apply specifically to individual taxpayers. Do you know what the changes will mean for you?

FDIC Challenges Treasury with New Loan Modification Proposal

By:: Bill Rice - MortgageLoan.com | November 17, 2008

On the heels of the Treasury and Federal Housing Finance Agency's (FHFA) loan modification plan for Fannie Mae and Freddie Mac, the FDIC releases their own proposal. In this unprecedented, unilateral, and aggressive move by a Federal agency the FDIC is essential fighting a very public political battle directly with the Treasury and the current Administration.

Do-It-Yourself Credit Repair

By:: Greg Mischio - MortgageLoan.com | November 16, 2008

It seems like everyone is in need of credit repair these days. But while the federal government is relying on taxpayers to help our country out of a jam, not everyone can expect a bailout. If "fix credit" is at the top of your "to-do" list, don't wait for help from anyone else. There are a number of steps you can take to fix credit.

Credit Card Companies Slashing Benefits

By:: Catherine Brock - MortgageLoan.com | November 16, 2008

Credit card issuers aren't doling out revolving credit accounts the way they used to. In fact, they're reigning in availability, and leaving some of their customers without the credit they thought they had.

Five Ideas to Find a New Job

By:: Greg Mischio - MortgageLoan.com | November 15, 2008

Job hunting in a slumping economy is no picnic. However, just because competition is fierce shouldn't mean that you give up. "Collecting unemployment" pales in comparison to the elation of "landing new job." Here are five simple tips to help you become gainfully employed.

Federal Deficit Spinning out of Control

By:: Catherine Brock - MortgageLoan.com | November 15, 2008

The federal deficit reached a record high point for fiscal year 2008, and all signs say that fiscal 2009 will be even worse.

Misery Loves Company: Credit Card Industry the Next Shoe to Drop

By:: Greg Mischio - MortgageLoan.com | November 14, 2008

The decimated home mortgage market has crippled Wall Street and brought our government to its knees. Unfortunately, the party isn't over. Credit cards will likely be the next financial tool to feel the wrath of the global credit crunch.

Lawyers Feeding on Mortgage Mess

By:: Tom Kerr - MortgageLoan.com | November 14, 2008

In some ways, the mortgage meltdown reminds lawyers and their class-action plaintiffs of the Enron scandal. After the fall of Fannie Mae, Freddie Mac, and Lehman Brothers, lawyers are pushing class-action litigation to try to recover losses for investors caught up in the mortgage mess.

Mortgage Rates Drop for Second Straight Week

By:: Bill Rice - MortgageLoan.com | November 14, 2008

Another week of dismal economic data have again pushed down mortgage rates. Freddie Mac reported Thursday that 30-year fixed-rate mortgages averaged 6.14 percent, down from 6.20 percent last week. This demonstrates a steep decline from 6.46 percent two weeks prior.

Mortgage Rates Drop

By:: Bill Rice - MortgageLoan.com | November 14, 2008

Mortgage rates drop again for the second straight week.

Mortgage Crisis Silver Lining: Savings on the Rise

By:: Catherine Brock - MortgageLoan.com | November 13, 2008

For years, Americans spent almost every penny of their income. But new economic data indicates that the financial crisis may be pressuring some to finally start saving once again.

Mortgage Fraud Past and Present

By:: Tom Kerr - MortgageLoan.com | November 13, 2008

The authorities have cracked down hard on appraisal fraud and subprime liar loan products that encourage mortgage dishonesty through overstated income. But mortgage fraud is still alive and well and living in America.

US Treasury Shifts TARP Focus, Routs Global Markets

By:: Bill Rice - MortgageLoan.com | November 13, 2008

Unclear on what facts had changed, Paulson outlined a radical departure from the core premise of the original TARP proposal. The US Treasury is no longer considering the buying of troubled mortgage-backed assets, which have now dropped to about 42 cents on the dollar.

TARP Redirect Plunges MBS

By:: Bill Rice - MortgageLoan.com | November 13, 2008

US Treasury Secretary Paulson's sharp redirection on the objective of the TARP funds had a dramatic effect on overnight markets and the MBS market.

Treasury Plan Pushing up Mortgage Rates

By:: Tom Kerr - MortgageLoan.com | November 12, 2008

As the Treasury bailout plan opens the faucets to thaw credit markets, and maybe even jumpstart the overall economy, affordable housing is slipping away due to rising-not falling-mortgage rates.

New Regulation to Clean up Financial Industry Mess

By:: Catherine Brock - MortgageLoan.com | November 12, 2008

Legislators and economists are still trying to get their arms around how the subprime mortgage crisis blossomed into a full-blown financial industry meltdown. Fingers are being pointed at the fractured regulatory system that failed to provide much-needed oversight.

Government's Loan Modification Program May Fall Short

By:: Bill Rice - MortgageLoan.com | November 12, 2008

Federal Housing Finance Agency (FHFA) Director James B. Lockhart unveiled the US government loan modification program to great anticipation. With over 300,000 properties under foreclosure filing according to RealtyTrac, a foreclosure tracking company, the relief can not come quick enough.

Financial Tips for Frugal Living

By:: Greg Mischio - MortgageLoan.com | November 11, 2008

As banks tighten their purse strings, the trickle-down effect is reaching consumers. Whether they're battling inflation or scared of a more restrictive lending environment, people are trying to find ways to spend less and save more.

Following Warren Buffett: Is it Time to Buy Stocks?

By:: Anders Bylund - MortgageLoan.com | November 11, 2008

The Oracle of Omaha is buying American stocks. Should you do the same?

Big Banks Halting Foreclosures and Modifying Mortgages

By:: Bill Rice - MortgageLoan.com | November 11, 2008

Chair of the FDIC continues to lobby her counterpart at the Treasury, Hank Paulson and the White House to implement loan modifications as a primary strategy in the mortgage market rescue. However, this bureaucratic battle may be irrelevant--the mega-banks are already rolling out the plan.

Veterans Day-Markets Closed

By:: Bill Rice - MortgageLoan.com | November 11, 2008

Mortgage rates stay flat on Monday and markets are closed today for Veteran's Day.

Planning for Retirement During Financial Crisis

By:: Catherine Brock - MortgageLoan.com | November 10, 2008

Retirement accounts just aren't what they used to be. If your account balance has turned south, where do you go from here?

Retailers Dreaming of a Gloomy Christmas

By:: Catherine Brock - MortgageLoan.com | November 10, 2008

The holiday season is just around the corner, and retailers are making gloomy predictions for their fourth quarter sales. How does your holiday spending outlook size up to retailers' expectations?

Congressional Democrats, President-elect Obama Press for TARP Aid for Auto

By:: Bill Rice - MortgageLoan.com | November 10, 2008

The Big Three auto makers continue their death march, burning millions in cash every month while auto sales drop to the lowest in 25 years. Help may be on the way.

Local Sheriff takes Action to Avoid Foreclosures

By:: Tom Kerr - MortgageLoan.com | November 09, 2008

Sheriff Thomas J. Dart of Cook County, Illinois suspended evictions and foreclosure because he said that foreclosures and sheriff sales were putting innocent renters at an unfair disadvantage. His defiance sparked an immediate protest from bankers, but the lawman stuck to his guns.

Paulson Picks Bailout Czar

By:: Tom Kerr - MortgageLoan.com | November 09, 2008

The person chosen to oversee the $700 billion mortgage bailout plan shares some distinctive traits with Treasury Secretary Henry Paulson. Neel Kashkari, the new bailout czar, is a bright economist who, like Paulson, used to be an investment banker at Goldman Sachs.

Housing Rescue: Slow Going

By:: Tom Kerr - MortgageLoan.com | November 08, 2008

Despite housing rescue initiatives like Hope Now, and a mortgage bailout plan worth $700 billion, the housing rescue is moving slowly. Each month, 200,000 homes still enter foreclosure.

Creative Financing for Small Businesses: Peer-to-Peer Lending

By:: Catherine Brock - MortgageLoan.com | November 08, 2008

Banks may be denying more small business loan applications, but company owners still have options. An up-and-coming solution for business financing gives entrepreneurs an alternative to adjustable-rate credit card debt.

Credit Crunch Squashing Auto Loans

By:: Anders Bylund - MortgageLoan.com | November 07, 2008

The global banking meltdown is causing blowouts on auto loans. Or is it?

Simple Upgrades Lower Home Energy Cost

By:: Greg Mischio - MortgageLoan.com | November 07, 2008

As the stock market goes down, the need for energy savings goes up. Consumers are thinking less about spending and more about saving, and they're focusing heavily on home energy costs. If you think the only way you can realize some efficiency gains is through expensive home improvements, think again.

Lower Mortgage Rates Not Sparking Home Buying

By:: Bill Rice - MortgageLoan.com | November 07, 2008

In a typical mortgage market, significant drops in mortgage rates would sweep in home buyers and mortgage refinancing. Not so in this market. In fact, several of the factors contributing to the recent decrease in mortgage rates are depressing home buying too.

Mortgage Rates Fall for Week

By:: Bill Rice - MortgageLoan.com | November 07, 2008

Mortgage rates continue to fall, but rising unemployment and tightening lending standards are forcing borrowers to stay on the sidelines.

Climbing Out of a Personal Credit Crisis

By:: Greg Mischio - MortgageLoan.com | November 06, 2008

Credit trouble used to be a problem for only a small percentage of people. Today, it's a global affliction that's causing many banks to revise their offerings. The credit crunch is going to create some serious headaches for people in need of debt relief.

Getting to Know Your Mortgage Documents

By:: Tom Kerr - MortgageLoan.com | November 06, 2008

American homeowners should study their loan documents to make sure that they know their obligations. Otherwise, loans like ARM and interest-only mortgages could blow up in their faces.

Borrowers Switch to Fixed-Rate, FHA Mortgages in Record Numbers

By:: Bill Rice - MortgageLoan.com | November 06, 2008

Mortgage Bankers Association's (MBA) most recent mortgage lending survey reveals borrowers shifting strongly to fixed rate mortgage products. The MBA attributes this preference to a decline in fixed mortgage fixed rates and tightening of lending standards.

Mortgage Rates Back Down

By:: Bill Rice - MortgageLoan.com | November 06, 2008

30 year fixed rate mortgage is back down to 6 percent.

Small Businesses Struggling for Survival in Economic Downturn

By:: Catherine Brock - MortgageLoan.com | November 05, 2008

Credit availability is in short supply, energy costs are volatile, and no one's sure how the bailout plan is going to help the economy. These concerns are weighing heavily on the minds of small business owners.

States Feeling Credit Crunch Pain

By:: Catherine Brock - MortgageLoan.com | November 05, 2008

The combination of declining revenues, increasing expenses, and insufficient access to capital is a deadly one for local municipalities.

Barack Obama Wins, Presidential Agenda Begins Now

By:: Bill Rice - MortgageLoan.com | November 05, 2008

President-elect Barack Obama has crossed many historical marks: winning the longest election, raising and spending the most money, and becoming the first African-American President in US history. However, this will not likely end his setting new historical markers. He will take office without the luxury of peace or prosperity. Perhaps even more challenging, he will take office with a laundry list full of "hope"-filled promises.

Mortgage Rate Watch

By:: Bill Rice - MortgageLoan.com | November 05, 2008

Yesterday was a good day for mortgage rates as they eased on the eve of Presidential election finality. However, today is likely to be a mortgage market referendum on President-elect Barack Obama.

Bailout a Potentially Lucrative Investment for Taxpayers

By:: Catherine Brock - MortgageLoan.com | November 04, 2008

The $700 billion financial bailout plan gives the U.S. Treasury an option to buy, on behalf of taxpayers, an equity stake in troubled financial firms. If the plan facilitates the recovery of these firms, that equity provision could create big profits down the road for American taxpayers.

Bankruptcy, the Final Frontier

By:: Catherine Brock - MortgageLoan.com | November 04, 2008

When you've exhausted all options and you still can't get out of debt, there's always bankruptcy.

Election Day, What Does That Mean for Your Finances?

By:: Bill Rice - MortgageLoan.com | November 04, 2008

Few Presidential campaigns have been run in the midst of crisis on the scale the US, and the World is currently facing. Whomever wins this historic election is going to immediately step into uncharted and choppy waters. Senator Barack Obama and Senator John McCain have very different views on this financial crisis. What might the fate of this election mean for you?

New Economic Scourge-Underemployment

By:: Catherine Brock - MortgageLoan.com | November 03, 2008

A good job is hard to find. The number of qualified workers who are forced to take low-paying or part-time jobs is increasing, which spells continued trouble for the U.S. economy.

College Graduates Drowning in a Challenging Market

By:: Greg Mischio - MortgageLoan.com | November 03, 2008

The payoff for going to college used to be enormous. But with more students graduating deeply in debt, a higher education's higher earning potential is becoming negated. With tuition increasing faster than inflation, and job prospects shrinking, college debt has become a real problem.

18% of Homeowners with Mortgages Underwater

By:: Bill Rice - MortgageLoan.com | November 03, 2008

First American CoreLogic, representing direct mortgage data on 80% of all US mortgages, released its August 2008 LoanPerformance Home Price Index (HPI). This data release, unsurprisingly, revealed that housing prices continue to descend across the nation with very few exceptions. In aggregate US home prices are 11.3 percent lower than a year ago--putting 18 percent of homeowners with mortgages "underwater."

Choppy Waters for Mortgage Rates

By:: Bill Rice - MortgageLoan.com | November 03, 2008

Not a lot of mortgage rate impacting news this week, but Presidential elections always do surprising things to markets.

How the Bailout Could Help You

By:: Tom Kerr - MortgageLoan.com | November 02, 2008

The $700 billion economic stabilization bill that just passed Congress may not save the stock market or revive the economy. However, through loan modifications and modified refinance initiatives, it could rescue lots of homeowners who are at risk of losing their homes to bank foreclosure.

Is the Economic Crisis Hurting our Kids?

By:: Catherine Brock - MortgageLoan.com | November 02, 2008

During bad economic times, parents don't just have to make ends meet; they also have to take steps to minimize the negative impact the economy might have on their kids.

More Bailouts: Are Individual States Next?

By:: Tom Kerr - MortgageLoan.com | November 01, 2008

As the credit markets unravel, states across the U.S. are faced with mounting financial challenges. Soon, taxpayers may be asked to ante up emergency funds for state bailout programs. California has already said that it may need $7 billion to tide it over until spring.

Escaping the Paycheck-to-Paycheck Quagmire

By:: Catherine Brock - MortgageLoan.com | November 01, 2008

Paycheck-to-paycheck living may be the way you roll, but it isn't sustainable long-term. Take steps to give yourself some financial breathing room.

Finally, Some Hope for Homeowners

By:: Catherine Brock - MortgageLoan.com | October 31, 2008

The Hope for Homeowners foreclosure prevention program offers a solution for at-risk homeowners.

Safe Haven for your Cash? Try Local Banks

By:: Catherine Brock - MortgageLoan.com | October 31, 2008

Not all banks are teetering on the edge of financial collapse. In fact, many are humming right along with a business-as-usual mentality.

FDIC Negotiating with Treasury for Broad Loan Modification Plan

By:: Bill Rice - MortgageLoan.com | October 31, 2008

FDIC Chair Sheila Bair has been advocating a broad program of loan modifications since the beginning of the mortgage meltdown. A program that would allow troubled homeowners to renegotiate their mortgages to into something they could pay and avoided certain foreclosure. The process has received much skepticism from Treasury and banks who would potentially absorb hair-cuts in principle or interest rates on the current loan.

Mortgage Meltdown: Is Affordable Housing to Blame?

By:: Tom Kerr - MortgageLoan.com | October 30, 2008

Some critics, desperate for a way to explain the current mortgage crisis, have been blaming it on the 1977 Community Reinvestment Act (CRA). Under the CRA, banks receiving federal insurance are encouraged to lend within their own communities, even if those areas are economically depressed. The CRA was meant to provide low-income Americans with more affordable housing.

Get Frugal, but Enjoy Halloween

By:: Greg Mischio - MortgageLoan.com | October 30, 2008

This Halloween, parents are scared out of their minds. They're not fearful of things that go bump in the night, but of items that go cha-ching at the cash register. Between the costumes and the candy, saving on Halloween can be a tall order. Here are a few tips that can help.

Mortgage Applications are Following Mortgage Rates, No Housing Recovery

By:: Bill Rice - MortgageLoan.com | October 30, 2008

Mortgage Bankers Association's regular survey of mortgage applications showed a 17 percent spike last week. Tracking tightly a sharp decline in mortgage rates last week, mortgage applications continue to follow rate trends.

Holiday Credit Crunch

By:: Greg Mischio - MortgageLoan.com | October 29, 2008

Santa's familiar "Ho, ho, ho" may be replaced this year by "Woe, woe, woe." With the economy sputtering and credit lines closing, retailers are already expecting a dismal year. This is bad news for the U.S. economy, which relies heavily on holiday spending.

How Warren Buffett Avoided the Subprime Meltdown

By:: Tom Kerr - MortgageLoan.com | October 29, 2008

Warren Buffett, the richest man in America, was financially exposed to the housing industry, but managed to avoid severe subprime mortgage losses. Banks and mortgage companies should pay attention to the stock market wizard, and take a lesson from his investment philosophy.

Market Leaps Nearly 900 Points, Eyes Turn to Fed Rates Today

By:: Bill Rice - MortgageLoan.com | October 29, 2008

Shortly after US markets opened yesterday, with the Dow hovering just over 8000, traders eyes flashed with opportunity. The broader market seemed very cheap and appealing.

Fed Cuts Rate Half a Point, Now at 1 Percent-Mortgage Rates Head Higher

By:: Bill Rice - MortgageLoan.com | October 29, 2008

The Federal Reserve unanimously cut the benchmark rate to 1 percent. This expected, but historically extraordinary rate is one in a long line of efforts to avert a continuing to deteriorate US economy.

What the Economic Crisis can Teach the Kids

By:: Anders Bylund - MortgageLoan.com | October 28, 2008

The kids can learn some valuable lessons from the grownups' financial foibles.

Mortgage Rewrite Plan will Help Homeowners

By:: Tom Kerr - MortgageLoan.com | October 28, 2008

As $700 billion moves into the economy to stem the housing meltdown, loan modifications and mortgage rewrites should be a big boon for homeowners. HUD-through its FHA component-will, for example, refinance many troublesome mortgages into affordable FHA fixed-rate loans.

US Home Builders Propose Home Buyer Plan to Help Housing Market

By:: Bill Rice - MortgageLoan.com | October 28, 2008

Home sales unexpectedly jumped 2.7 percent in September, giving hope for a bottom to the housing market. Home builders, hit hard by the collapsing housing market are now presenting Congress with their own recovery plan. The plan pulled from the history books would include a generous tax credit and a federal program to subsidize current market rates.

Mortgage Rates Up as Yields Spread

By:: Bill Rice - MortgageLoan.com | October 28, 2008

Yields on Fannie Mae, Freddie Mac, and Ginnie Mae mortgage bonds continue to widen as compared to US Treasuries. This gap is pushing mortgage rates back up.

How to Protect Your Money with the FDIC

By:: Catherine Brock - MortgageLoan.com | October 27, 2008

FDIC coverage limitations are a little complicated. If you know them, you'll avoid the possibility of expected losses on your bank deposits.

All About Peer-to-Peer Lending

By:: Catherine Brock - MortgageLoan.com | October 27, 2008

As consumers demand alternatives to traditional bank lending, more and more companies are getting into the person-to-person lending business.

Breaking the Cycle of Foreclosures without Economic Recovery is Daunting

By:: Bill Rice - MortgageLoan.com | October 27, 2008

Foreclosures continue to surge, up 55% from last year and the future doesn't look any better. Estimates by Economy.com forecasts 7.3 million homeowners will default between 2008 and 2010, with 4.3 million expected to end in foreclosure. How do you break this trend? Or, perhaps more importantly, $700 billion in taxpayer allocation later why haven't we?

Mortgage Rate Down as Credit Begins to Thaw

By:: Bill Rice - MortgageLoan.com | October 27, 2008

Mortgage rates will open the week significantly lower as last week showed signs of credit beginning to thaw in the interbank, commercial, and consumer markets.

Gas Saving Tip: Drive a Scooter

By:: Greg Mischio - MortgageLoan.com | October 26, 2008

Americans, who are trying to find ways to save money on gas, are converting to a long-standing mode of transportation used in Europe: Mopeds. Sales of scooters in the U.S. have increased more than 60 percent this year, as people look for ways to adapt to high fuel prices.

Want a Hybrid Vehicle? Good Luck with Financing!

By:: Greg Mischio - MortgageLoan.com | October 25, 2008

Banks and other lending institutions aren't denying the environmental benefits of a hybrid vehicle. However, sometimes they're denying the financing for them, particularly to people with poor credit. Car loans, like home mortgages, are getting tougher for people to find.

Portfolio Management: Biting the Bullet through the Financial Crisis

By:: Anders Bylund - MortgageLoan.com | October 24, 2008

No pain, no gain. That evergreen is as true in financial planning as it is in the gym.

Is Your Money Market Fund Safe?

By:: Catherine Brock - MortgageLoan.com | October 24, 2008

News of value losses in money market funds sent shivers down the spines of investors from Maine to California. Learn what the federal government is doing to help you keep the faith.

FDIC Chairman Brings New Loan Modification Incentive Plan

By:: Bill Rice - MortgageLoan.com | October 24, 2008

Loan modifications are certainly looking like the necessity plan with 7.3 million homeowners forecast to default between 2008 and 2010, with 4.3 million expected to end in foreclosure according to the latest numbers from Economy.com. Which is precisely the message FDIC Chairman Sheila Bair brought to Congress yesterday.

Markets in for Wild Ride

By:: Bill Rice - MortgageLoan.com | October 24, 2008

Asian markets down 10%, European markets down 7%, and US Futures triggering circuit breakers well before US market open.

The Shrinking of Fannie Mae

By:: Tom Kerr - MortgageLoan.com | October 23, 2008

Fannie Mae and Freddie Mac are both trying to shore up anemic balance sheets to regain healthy cash reserves. But that guarded approach to mortgage lending might send mortgage rates higher and make mortgage qualification much more difficult for the average American.

Seniors Whacked by the Mortgage Crisis

By:: Tom Kerr - MortgageLoan.com | October 23, 2008

As the number of Americans in the "baby boomer" demographic peaks, seniors and retirees face the brunt of the mortgage crisis at a time when they're most vulnerable. According to the AARP, older people across the U.S. may suffer the most from the nation's current economic strife.

Mortgage Rates Spike, but Could Be on the Decline

By:: Bill Rice - MortgageLoan.com | October 23, 2008

There are lots of unusual effectors in the market driving today's mortgage rates. Most of them are driven by unique forces of intervention, which make forecasting mortgage rates incredibly complex. However, it is possible to take a survey of these influencers and navigate to a reasonable trajectory.

Finding the Culprits of Mortgage Fraud

By:: Catherine Brock - MortgageLoan.com | October 22, 2008

Who can we blame for the U.S. mortgage crisis and financial industry meltdown? Mortgage brokers, investors, or corporate executives? Or is it the regulators, who are just now going after the crooks?

Small Business and the Mortgage Bailout

By:: Catherine Brock - MortgageLoan.com | October 22, 2008

While oversized and overextended financial firms get all the attention, small business owners are quietly struggling to get by.

Mortgage Bankers Looking for Lending Options in High Cost Markets

By:: Bill Rice - MortgageLoan.com | October 22, 2008

If you are looking to buy or refinance a house in New York or California you may find financing that mortgage nearly impossible. Temporary loan-limit increases for Fannie Mae and Freddie Mac, approved by Congress earlier in the year are set to expire.

30 Year Fixed Hovers at 6%

By:: Bill Rice - MortgageLoan.com | October 22, 2008

Mortgage rates continue to bounce up and down, but seem to continue finding equilibrium around the 6 percent mark for 30 year fixed rate.

California Protects Consumers from Shady Mortgage Brokers

By:: Tom Kerr - MortgageLoan.com | October 21, 2008

The state of California usually leads the charge when it comes to progressive legislation. Now, Californians have new mortgage laws and mortgage license regulations. But consumer advocates wonder if it's enough to protect borrowers from mortgage broker fraud.

Combat Rising Unemployment: Tips for Getting a New Job

By:: Catherine Brock - MortgageLoan.com | October 21, 2008

It's practically impossible to find a job using the mega online job boards anymore. The current market demands a more personal approach.

Bernanke Encourages Additional Stimulus Package as Consumer Weakness Mounts

By:: Bill Rice - MortgageLoan.com | October 21, 2008

In an unusual endorsement of Congressional fiscal policy Federal Reserve Chairman Bernanke strongly endorses a second stimulus package. Is it possible that the current economic slowdown has spooked Chairman Bernanke? Yesterday's statements are in sharp contrast to Bernanke's assurances, during his confirmation hearings, that he would avoid giving Congress recommendations of fiscal and tax policy.

Mortgage Rates Volatile

By:: Bill Rice - MortgageLoan.com | October 21, 2008

The market is still trying to find its equilibrium, which continues to inject volatility into the equities and bond markets--mortgage rates.

Debt-settlement Companies take Federal Trade Commission Spotlight

By:: Greg Mischio - MortgageLoan.com | October 20, 2008

The dire consequences of our nation's debt problems have come full circle in recent months. As our most prestigious financial institutions have crumbled, our nation has begun to reassess its addiction to easy credit. Debt-settlement companies have become more popular, and more scrupulous.

Are More Gas Shortages Ahead?

By:: Greg Mischio - MortgageLoan.com | October 20, 2008

The ongoing financial crisis has been good for one thing: It's taken our minds off the fact that we could be facing gas shortages in the very near future. Even though gas prices have stabilized and even dropped, the long lines in Atlanta after the recent Hurricanes Ike and Gustav are proof that there might be a nationwide gas shortage.

Who's to Blame for the Mortgage Crisis?

By:: Tom Kerr - MortgageLoan.com | October 20, 2008

While the mortgage crisis undermines the entire economy, nobody is taking responsibility or accepting accountability. But plenty of people are playing the mortgage meltdown blame game. Lots of fingers point to rating agencies that gave high marks to grossly underperforming assets.

Congress to Help with Student Loans

By:: Greg Mischio - MortgageLoan.com | October 19, 2008

The shaky nature of the economy has cast doubt over the entire lending world. Much attention has been focused on the housing market, but student loans have also become under question. Recently, Congress has taken steps to ensure liquidity in the market, providing a dose of confidence for the future.

Personal Finance in Schools: An Answer to Financial Crisis

By:: Anders Bylund - MortgageLoan.com | October 18, 2008

A little bit of financial education could go a long way to improve our nation's financial health.

Shining Light from Mortgage Mess: FHA Loans

By:: Tom Kerr - MortgageLoan.com | October 17, 2008

Mortgages are in increasingly short supply as economic chaos continues, but consumers are getting some vital relief from the FHA. The number of FHA mortgage applications has soared, nearly tripling in 2008, as troubled banks and other mortgage companies reign in their credit.

Learn about FHA Lenders

By:: Catherine Brock - MortgageLoan.com | October 17, 2008

Do you know what an FHA lender is, and whether or not you should use one?

US Attorney Hunting Down Mortgage Crooks, Ready to Indict

By:: Bill Rice - MortgageLoan.com | October 17, 2008

US Attorney Thomas O'Brien, Los Angeles' top federal prosecutor, is routing out mortgage fraud in the heart of the mortgage bubble. Orange County and metro-Los Angeles was home to three of the largest mortgage lenders and biggest implosions of the current mortgage crisis. All three are under investigation by O'Brien's office.

Mortgage Rates Continue to Rise

By:: Bill Rice - MortgageLoan.com | October 17, 2008

Mortgage rates continue to rise as volatility continues to invade the equities market causing the same erratic movement in the debt markets.

Money Crunch Solutions: Get a Second (or New) Job

By:: Catherine Brock - MortgageLoan.com | October 16, 2008

A second job can improve your income, but it might not make your life any easier.

Four Ideas to Sell Home in Struggling Market

By:: Greg Mischio - MortgageLoan.com | October 16, 2008

Check out the ads in the real estate section of your local newspaper. If you read between the lines, you'll probably sense messages like, "Selling home-desperate!" or "Need to sell home, but can't find buyer. PLEASE!" If you're a seller, there are steps you can take to sell your home in a tough market.

Mortgage Applications Leap Upward, Even as Mortgage Rates Climb

By:: Bill Rice - MortgageLoan.com | October 16, 2008

Mortgage applications increase for the second straight month. Despite a jump in mortgage interest rates, the Mortgage Bankers Association reports the biggest single month surge in refinance applications in five years.

Is Your 401(k) Safe?

By:: Catherine Brock - MortgageLoan.com | October 15, 2008

Bad financial news piled upon more bad financial news might have you worried about your 401(k) funds.

How will the Bailout Affect Mortgage Rates?

By:: Tom Kerr - MortgageLoan.com | October 15, 2008

Regardless of how the financial bailout plan affects the overall economy, mortgage rates may fall in the short term, but will have to rise before long. Without raising underlying interest rates, which will eventually push mortgage rates higher, the nation can't wage its financial battles.

Paulson Will Invest in Thousands of Banks, But Can He Get Them to Lend?

By:: Bill Rice - MortgageLoan.com | October 15, 2008

The Treasury has now shifted its strategy in deploying the $700 billion rescue legislation. It will now use $250 billion to directly capitalize "thousands" of "healthy" banks according to Tuesday statements by SecretaryPaulson.

How Mortgage Bailout Will Affect You

By:: Tom Kerr - MortgageLoan.com | October 14, 2008

While Wall Street and Main Street compete in a tug-o-war over the mortgage bailout plan, average Americans wonder how the colossal expenditure will impact their personal finances. It's too soon too to predict the overall outcome, but some good and bad consequences are inevitable.

The Real Problem in Housing: Mortgage Guidelines

By:: Catherine Brock - MortgageLoan.com | October 14, 2008

Mortgage rates have declined in recent weeks, but that doesn't mean lenders are working around the clock to qualify borrowers and fund loans.

Obama Announces a Larger Economic Vision

By:: Bill Rice - MortgageLoan.com | October 14, 2008

On the campaign trail in Toledo, OH yesterday Senator Barack Obama grabbed a piece of the euphoria emanating from the largest stock market rally in history--announcing a much grander economic plan. Offering another $60 billion in rescue efforts, Obama proposed an expanded economic platform that brought parallels to President Roosevelt's New Deal.

Getting a Mortgage in Challenging Times

By:: Greg Mischio - MortgageLoan.com | October 13, 2008

In the wake of the tidal wave of bad news that has hit the mortgage market, there's a profound new lending landscape. The good news is that you can still get a mortgage. The bad news is that money will be harder to borrow, particularly if you have bad credit.

Lenders to FHA Foreclosure Help: Thanks, But No Thanks

By:: Catherine Brock - MortgageLoan.com | October 13, 2008

The FHA's new Hope for Homeowners program is supposed to be an answer to this country's foreclosure problem. Mortgage lenders like the idea, but only after other efforts have failed.

European and Asian Markets Rise On New International Assurances

By:: Bill Rice - MortgageLoan.com | October 13, 2008

Following a Friday meeting of the G-7 (Economic leaders of the top 7 industrialized nations) and the British government's initialization of a program to inject capital into their banks--Asian and European markets rally.

US Government Takes Columbus Day to Get Down to Work

By:: Bill Rice - MortgageLoan.com | October 13, 2008

Normally a day for government offices and banks to take the day off, this Columbus day was all about a different type of recovery. The US stock market and Treasury department seemed to have picked today to spark notions of a financial crisis recovery.

Mortgage Rates Likely to Rise

By:: Bill Rice - MortgageLoan.com | October 13, 2008

Expect ongoing uncertainty and volatility in mortgage rates today.

Can the FHA Handle a New Expanded Mortgage Role?

By:: Tom Kerr - MortgageLoan.com | October 12, 2008

Many are concerned that HUD may already be strapped for cash due to ongoing efforts to stem the tide of foreclosures. But as the FHA, its main component, takes on more responsibility and greater debt, HUD will be faced with newer and bigger challenges.

Cheaper Mortgage Rates Could Ease Household Pain

By:: Greg Mischio - MortgageLoan.com | October 12, 2008

The mortgage and energy industries have delivered a one-two punch. Fortunately, it will have a positive impact. Oil prices and interest rates have dipped, providing a source of debt relief for people looking for a mortgage refinance.

Can Foreclosure Prevent You from Voting?

By:: Catherine Brock - MortgageLoan.com | October 11, 2008

Voter challenge laws in the state of Michigan are stirring up controversy, as rumors circulate about the Republican Party's intention to use foreclosure lists to block voters at the polls.

Crisis Savior: Mortgage Loan Modifications

By:: Catherine Brock - MortgageLoan.com | October 11, 2008

Now that IndyMac Bank, Fannie Mae, and Freddie Mac have all failed, the federal government appears to be in the driver's seat to fix the foreclosure problem. Many argue that the answer lies in rolling out strategic loan modifications to at-risk borrowers.

Has the Housing Market Hit Bottom?

By:: Tom Kerr - MortgageLoan.com | October 10, 2008

As real estate sales slump, so do home prices. As prices sink, market value and equity vanish, and foreclosures rise. Now, fresh Commerce Department evidence indicates that we're still in a downward spiral and far from the end in terms of foreclosures and lower housing prices.

Are Low Mortgage Rates Here to Stay?

By:: Tom Kerr - MortgageLoan.com | October 10, 2008

Immediately following the Treasury takeover of Fannie Mae and Freddie Mac, borrowers took advantage of much lower mortgage rates, and refinance applications surged. But with extreme financial uncertainty in the U.S., mortgage rates are poised to rise again before too long.

Market Hits Record Lows, Are We Doing Too Much?

By:: Bill Rice - MortgageLoan.com | October 10, 2008

The US Stock Market plummeted to record breaking lows Thursday despite increasingly extraordinary measures by the government. It seems that nothing will bring confidence back to the investor. Meanwhile, a lack of financial trust between banks and companies continues to tighten the credit knot that is strangling the markets.

Mortgage Rates Operating in Unprecedented Environment

By:: Bill Rice - MortgageLoan.com | October 10, 2008

Mortgage rates are now officially operating in a historically unprecedented environment. This would trigger broad, cautious counsel to lock rates. Although we have seen steady downward pressure on mortgage rates throughout the week yesterday sparked an unusual effect in the bond markets.

Housing Issues Active in Congress

By:: Catherine Brock - MortgageLoan.com | October 09, 2008

Congress faces some emotional arguments as lawmakers conduct ongoing hearings on two separate housing proposals.

Secret to Growing Rich: Save, Don't Leverage

By:: Anders Bylund - MortgageLoan.com | October 09, 2008

It's hard to find an American who doesn't live without a little bit of debt, but too much could crush your savings dreams.

Paulson Takes Page from British, May Directly Inject Capital into US Banks

By:: Bill Rice - MortgageLoan.com | October 09, 2008

On Wednesday the British government launched a plan to offer up to £50 billion ($87 billion) to major banks like Royal Bank of Scotland, Barclays, and HSBC Holdings shoring up their capital and directly strengthening their balance sheets. In exchange, the British government would get preferred equity positions in the banks.

Mortgage Rate Tumble

By:: Bill Rice - MortgageLoan.com | October 09, 2008

Mortgage rates continue to fall.

Real Estate Investors Ready to Gobble Discounted Properties

By:: Greg Mischio - MortgageLoan.com | October 08, 2008

As home values continue to slump, foreclosures are swamping the market. It may be a sad day for people who lost their homes; but for many real estate investment companies, it's the pot of gold at the end of the rainbow.

Fannie, Freddie Mortgages Rescue Strategies

By:: Tom Kerr - MortgageLoan.com | October 08, 2008

With Fannie Mae and Freddie Mac now under government control, mortgage refinance and government assistance programs to promote foreclosure prevention will be their main focus.

US Fed and Major World Central Banks Coordinate Rate Cut

By:: Bill Rice - MortgageLoan.com | October 08, 2008

Major world central banks react to a broadening global economic crisis by taking extraordinary measures to coordinate monetary policy. In a move to reduce growing stress in the world credit markets central banks cut interest rates by a 0.5 percent.

Expect Volatile Mortgage Rates

By:: Bill Rice - MortgageLoan.com | October 08, 2008

Mortgage rates are expected to be volatile today as market determine how they will react to coordinated worldwide central bank rate cut.

Seller-Assisted Down Payments Still Alive

By:: Catherine Brock - MortgageLoan.com | October 07, 2008

The Housing and Economic Stimulus Act of 2008 effectively killed off seller-funded down payments by banning their use with FHA-insured mortgages after October 1. Now, consumer groups are rallying with lawmakers to protect this form of funding for homebuyers.

Freddie, Fannie Intervention Means Good Time to Refinance

By:: Catherine Brock - MortgageLoan.com | October 07, 2008

The government takeover of Fannie Mae and Freddie Mac could potentially increase your tax bill down the road. It can also mean it's a good time to refinance.

Loan Modifications, Not Government Bailouts May Be the Answer

By:: Bill Rice - MortgageLoan.com | October 07, 2008

Bank of America is to launch an $8.6 billion loan modification program. Initiated as settlement for a mounting number of predatory lawsuits inherited in the acquisition of Countrywide. This loan modification program could trigger two historic landmarks: the largest predatory lending settlement and the largest loan modification program.

Mortgage Rates Drop on Equity Fears

By:: Bill Rice - MortgageLoan.com | October 07, 2008

Mortgage rates continue to drop as fear seizes the equity markets.

Takeover at Fannie/Freddie by the Feds

By:: Tom Kerr - MortgageLoan.com | October 06, 2008

With the government takeover of mortgage agencies Fannie Mae and Freddie Mac, the mortgage market got a needed boost. In the wake of the news, loans from the FHA and other lenders became much less expensive, and that could potentially save the ailing real estate market.

Is FHASecure Helping Anyone?

By:: Catherine Brock - MortgageLoan.com | October 06, 2008

FHASecure was touted as the federal government's plan to rescue homeowners from the teeth of foreclosure. The official word is that the program is working; but has it truly had an impact on the foreclosure pipeline?

Understanding the Bailout Rescue Plan

By:: Tom Kerr - MortgageLoan.com | October 06, 2008

The Emergency Economic Stabilization Act of 2008-better known as the rescue plan-finally passed after causing widespread controversy in Congress and an extreme backlash from the general public. It won't cure our economic problems, but should revive paralyzed credit markets.

Presidential Politics: Views on Fannie, Freddie Bailout

By:: Catherine Brock - MortgageLoan.com | October 05, 2008

Fannie Mae and Freddie Mac have given the U.S. presidential candidates another economic issue to argue.

Mortgage Rates Tumble Below Pre-Meltdown Levels

By:: Tom Kerr - MortgageLoan.com | October 04, 2008

In the wake of the Fannie Mae takeover, mortgage interest rates declined, and the overall cost of taking out a home loan or doing a mortgage refinance fell almost 10 percent. That's unexpected good news for homebuyers, because mortgage rates are now as low as they've been since 2004.

FHA Stealing Market Share from Private Mortgage Insurers

By:: Tom Kerr - MortgageLoan.com | October 04, 2008

Companies offering private mortgage insurance (PMI) are suffering catastrophic losses due to an avalanche of foreclosure-related claims. But the FHA, which offers HUD-backed FHA loan guarantee reassurance to banks and investors, is quickly capturing that lost PMI market share.

Taxing Politics: Where the Candidates Stand

By:: Catherine Brock - MortgageLoan.com | October 03, 2008

Tax policy changes with every new administration. Do you know how you'll be affected this time?

Home Loan Shopping: Apply to Multiple Mortgage Lenders

By:: Greg Mischio - MortgageLoan.com | October 03, 2008

The mortgage marketplace is tight. While many borrowers are just happy to get approved, there's nothing stopping you from applying to a variety of different mortgage banks for your loan.

House Set to Vote Again on $700 Billion Bailout

By:: Bill Rice - MortgageLoan.com | October 03, 2008

Once again the fate of the $700 billion economic stabilization legislation sits in the chambers of the House of Representatives.

Getting the Most from Your Reverse Mortgage

By:: Catherine Brock - MortgageLoan.com | October 02, 2008

New government regulations make it easier for seniors to get money from their home equity with a reverse mortgage.

Foreclosure Rates: A Growing Problem

By:: Tom Kerr - MortgageLoan.com | October 02, 2008

Various foreclosure assistance programs were supposed to stall the upward momentum of high foreclosure rates, and even reverse the expanding epidemic. Instead, the situation is getting worse, and there appears to be nothing anyone can do to stop the rising tide of defaults.

Senate Evening Vote Ends Passes Bailout Plan, House Now Holds Keys

By:: Bill Rice - MortgageLoan.com | October 02, 2008

In an evening vote by the Senate, most likely not a coincident that it was after US market close, the $700 billion rescue bill passed decisively. This leaves the House of Representatives to muster the necessary support to pass similar legislation to what was voted down on Monday. Enhanced by the Senate to include Republican favored expanded FDIC insurance, tax breaks for businesses and individuals, as well as a support to loosen market-to-market SEC regulation the legislation goes to the House for a vote as early as Friday.

Senate Passes Bailout

By:: Bill Rice - MortgageLoan.com | October 02, 2008

Senate decisively passes the $700 billion financial market stability legislation.

How to Buy a Foreclosure

By:: Greg Mischio - MortgageLoan.com | October 01, 2008

When times are tough, it seems like the rich get richer. Today's housing market is no different. Real estate investors with the means to buy foreclosure properties are moving quickly. Be forewarned: This can be a tricky business.

Improve Your Chances of Selling Your Home

By:: Greg Mischio - MortgageLoan.com | October 01, 2008

As the real estate market continues its descent, home sellers are becoming more innovative. The days of setting up a "for sale" sign are long gone. For people who have "selling home" on the top of their priority list, tactics like home staging and house trading are becoming useful.

US Senate to Vote on $700 Billion Rescue Plan

By:: Bill Rice - MortgageLoan.com | October 01, 2008

Tonight the US Senate will take their turn at passing the $700 billion bailout plan. On the heels of a stunning defeat in the House of Representatives on Monday that sent the US Stock Market down 700 points, the Senate will attempt a modified version.

Mortgage Applications Plunge

By:: Bill Rice - MortgageLoan.com | October 01, 2008

Mortgage rates balance on little to no activity, while mortgage applications plunge.

New Angle on Home Equity Loans

By:: Catherine Brock - MortgageLoan.com | September 30, 2008

A new service allows homeowners to cash out their equity without incurring interest charges and loan repayments.

FHA Financing For a Dirt-Cheap Fixer-Upper

By:: Anders Bylund - MortgageLoan.com | September 30, 2008

The Federal Housing Administration (FHA) can help you get a great deal on "vintage" real estate.

House Rejects Bailout and Stock Market Reacts, Dow Down 777.68

By:: Bill Rice - MortgageLoan.com | September 30, 2008

Considered a bi-partisan done deal, the enormous market bailout bill was voted down in dramatic fashion. With 95 Democrats and 133 Republicans casting "Nay" as their vote the Emergency Economic Stabilization Act of 2008 did not even make it out of the House of Representatives.

Mortgage Rates Down

By:: Bill Rice - MortgageLoan.com | September 30, 2008

Mortgage rates descend, but won't make it easier to get a mortgage.

American Youth: "Save" is a Four-Letter Word

By:: Anders Bylund - MortgageLoan.com | September 29, 2008

Many young whippersnappers need a lesson in financial responsibility. Are you one of them?

Better Oversight for Appraisers

By:: Catherine Brock - MortgageLoan.com | September 29, 2008

In the ongoing aftermath of the subprime crisis, attention has turned to real estate appraisers and what role they might have played in the turmoil.

$700 Billion Bailout Bill on its Way to House Vote

By:: Bill Rice - MortgageLoan.com | September 29, 2008

After an intense weekend of negotiations the formally named Emergency Economic Stabilization Act of 2008 is headed to the House of Representatives for its first vote. Senator and Republican Presidential nominee, in a statement on ABC's "This Week," probably captured the sentiment of Congress and Americans the best, "This is something all of us will swallow hard and go forward with."

Wachovia Goes to Citigroup with FDIC Assistance

By:: Bill Rice - MortgageLoan.com | September 29, 2008

Wachovia becomes the latest giant to fall into an apparent three bank consolidation. Wachovia was acquired this morning by Citigroup. The FDIC assisted agreeing to absorb losses above $42 billion and would get $12 billion in preferred stock and warrants from Citigroup.

$700 Billion Bailout Bill Set to Fail in the House, Dow Craters 500 Points

By:: Bill Rice - MortgageLoan.com | September 29, 2008

House of Representatives votes down the $700 billion market bailout bill. Bringing surprise and shock into the financial markets, which headed down as much as 500 points (Dow) during the losing vote.

Mortgage Rates Flat

By:: Bill Rice - MortgageLoan.com | September 29, 2008

Expect mortgage rates to remain stagnant.

Protect Yourself From Reverse Mortgage Fraud

By:: Catherine Brock - MortgageLoan.com | September 28, 2008

Financial scammers are using reverse mortgages to rip off the elderly. Protect yourself by knowing the law and the scams.

Credit Card Woes: Escalating Debt

By:: Greg Mischio - MortgageLoan.com | September 28, 2008

Woe is me, says the credit card holder. In reaction to credit card companies spiking interest rates, the Federal Reserve Board has proposed new rules regarding consumer credit card debt. While the changes may be heralded as relief for consumers, issuers of plastic are arguing that all they'll do is increase consumer debt over the long haul.

Lawmakers Reach Bailout Breakthrough Early Sunday Morning

By:: Bill Rice - MortgageLoan.com | September 28, 2008

Working through Saturday evening and into the wee-hours of Sunday morning Congress hammered out a tentative breakthrough. Negotiations, and volatile debate spanned the entire weekend. Discussions were reported to have been peppered with elevated voices and plain language.

HELOC Cancellation: Are You at Risk?

By:: Catherine Brock - MortgageLoan.com | September 27, 2008

HELOC lenders are now realizing that they were overly enthusiastic about approving big credit lines for borrowers. As they try to reduce their risk exposure, some homeowners are getting a surprise notification that their HELOC has been cancelled.

Mortgage Crisis: Communities to the Rescue

By:: Greg Mischio - MortgageLoan.com | September 27, 2008

All over the country, people are feeling the effects of the subprime mortgage crisis. As home values plummet and foreclosure rates soar, communities are finding new ways to provide mortgage assistance to their neighbors.

Are Reverse Mortgages Too Expensive?

By:: Tom Kerr - MortgageLoan.com | September 26, 2008

Reverse mortgages are now wildly popular because the senior citizen population they serve is growing faster than any other demographic group in the entire U.S. But some critics argue that reverse mortgages cost too much to make them a suitable retirement planning vehicle.

Government Steps in with Mortgage Help

By:: Catherine Brock - MortgageLoan.com | September 26, 2008

The federal government has unleashed the FHA to help at-risk mortgage borrowers keep their homes.

JP Morgan Assists FDIC as WaMu Becomes Largest Bank Failure in History

By:: Bill Rice - MortgageLoan.com | September 26, 2008

While the Nation focused on the contentious negotiations over the $700 billion bailout of the financial market a giant oak fell quietly in the forest. The FDIC seized Washington Mutual on Thursday afternoon, and immediately sold their assets to JP Morgan for $1.9 billion.

Mortgage Rates on Rise

By:: Bill Rice - MortgageLoan.com | September 26, 2008

Mortgage rates continue to climb as the market anticipates the final details of the $700 billion bailout.

Refinance Your Option ARM

By:: Catherine Brock - MortgageLoan.com | September 25, 2008

Experts are concerned that option ARMs could fuel another wave of mortgage defaults. Is your option ARM set to disarm your finances and implode?

Best Foreclosure Prevention: FDIC Loan Modification

By:: Tom Kerr - MortgageLoan.com | September 25, 2008

Sheila Blair, head of the Federal Deposit Insurance Corporation (FDIC), is a passionate advocate of mortgage loan modification to avoid foreclosure. Now she'll have a chance to put her ideas to the test with the FDIC takeover of a failed bank that specialized in bad mortgages.

Congress Talks: Bailout Plan Needs Homeowner Provisions

By:: Catherine Brock - MortgageLoan.com | September 25, 2008

The emergency federal bailout plan has been drafted. The proposal involves buying up mortgage-related assets from failing financial institutions; but are homeowners going to get some help, too?

Mortgages Availability Tightening, Existing Home Sales Continue to Fall

By:: Bill Rice - MortgageLoan.com | September 25, 2008

Mortgage rates are down, but homes are not selling. Why? The disconnect is directly linked to the objectives of the current $700 billion bailout being proposed by the Bush administration and US Treasury--our system of credit has ground to a halt.

Senior Troubles: Bankruptcy on the Rise

By:: Greg Mischio - MortgageLoan.com | September 24, 2008

The rising costs of health care and consumer goods have hit the elderly population hard. A clear indicator that the older popular is struggling is the rise in senior bankruptcy rates, which are reaching double-digit territory. In this difficult economy, our 55-plus population needs to seriously reevaluate how they'll make ends meet.

Interest Rate Mystery: Fed Cuts, Yet Mortgage Rates Climb

By:: Tom Kerr - MortgageLoan.com | September 24, 2008

Some of the greatest financial minds of our time are puzzled by the fact that, in recent years, mortgage rates have failed to follow Fed rate cuts. The odd and paradoxical divergence is largely unexplained, but is attributed to the fact that we're in a new global economic frontier.

Warren Buffett Invests $5 Billion in Goldman

By:: Bill Rice - MortgageLoan.com | September 24, 2008

At the closing bell, after another punishing day on Wall Street, a $5 Billion vote of market confidence came from the heartland. The iconic value investor Warren Buffett struck a deal with Goldman Sachs that may overshadow the $700 billion Treasury bailout.

Slight Uptick in Rates

By:: Bill Rice - MortgageLoan.com | September 24, 2008

Mortgage rates continue subtle upticks as the Treasury bailout plan gets Congressional scrutiny.

Bankruptcy Filings on the Rise

By:: Catherine Brock - MortgageLoan.com | September 23, 2008

There's still no light at the end of the tunnel for our economy, as the latest figures report a startling rise in the number of bankruptcies.

Government-Backed Loans Not Doing the Job

By:: Tom Kerr - MortgageLoan.com | September 23, 2008

Some people complain about taxpayer-funded mortgage assistance, while backers support government refinance help initiatives. But both may agree on one thing: mortgage assistance doesn't seem to be working, thanks to high mortgage rates and continually-rising loan fees.

Paulson's $700 Billion Plan is Bitter, but Necessary Medicine

By:: Bill Rice - MortgageLoan.com | September 23, 2008

The American taxpayer is angry at picking up the tab for greed and excess. Congress wrestles with a crisis that can little afford time for deliberation. However, a theme is emerging--it is the bitter medicine that will heal us.

Mortgage Rates Neutral, Looking for Clarity

By:: Bill Rice - MortgageLoan.com | September 23, 2008

The Bond market struggled early Monday and then trading thinned as investors look for clarity.

Improve, Don't Move, with a Home Equity Loan

By:: Greg Mischio - MortgageLoan.com | September 22, 2008

The housing market's bursting bubble has crippled the industry. Instead of leap-frogging to a bigger and better house, many homeowners are opting to improve their current dwelling. It's a smart move, especially if you use a home equity loan. Just be certain that your improvements will help the resale value of your property.

The Economy's Future: The Candidates' Plans

By:: Catherine Brock - MortgageLoan.com | September 22, 2008

Some say that the U.S. economy is teetering on the edge of another Great Depression. Find out what the presidential candidates plan to do about it.

Financial and Mortgage Market Bailout-Dissecting the Paulson Plan

By:: Bill Rice - MortgageLoan.com | September 22, 2008

Congress was handed a monumental weekend task--review and prudently approve a $700 billion dollar bailout. The proposal is eerily short and simple (full text of legislation). Many are urging Congress to ask more questions prior to singing this broad proposal.

Eyes on Bonds

By:: Bill Rice - MortgageLoan.com | September 22, 2008

Today will set the tone for this week's mortgage rates.

How to Raise Your Credit Score

By:: Greg Mischio - MortgageLoan.com | September 21, 2008

A credit score is your financial fingerprint. Full of your financial history, it's the most effective way for a lender to identify your creditworthiness. Many people are shocked to discover that this fingerprint can lead to a thumbs-down from a lender. Here are some simple ways to improve your credit score.

Is a Reverse Mortgage Right for Your Parents?

By:: Catherine Brock - MortgageLoan.com | September 20, 2008

Reverse mortgages have grown in popularity, but the risks are still there.

Home Value Declines Leave ARM Holders Under Water

By:: Tom Kerr - MortgageLoan.com | September 19, 2008

Millions of ARM loans will do-or have already done-an "ARM reset," which means that they undergo a scheduled monthly payment adjustment. Because they typically begin with a low teaser rate, they generally go much higher when the ARM reset kicks in, and it's not unusual for monthly mortgage payments to double.

Places to Stash Cash in Today's Market

By:: Anders Bylund - MortgageLoan.com | September 19, 2008

A regular savings account is hardly the safest choice. A standard one with a major U.S. bank today brings a 0.2 percent annual interest rate. But inflation is running amok at 5 percent. In other words, your carefully stashed $100,000 will be worth less than that in next year's dollars, or about $95,200 after accounting for interest and inflation.

Paulson Going to Congress with Significant Taxpayer Bailout Plan

By:: Bill Rice - MortgageLoan.com | September 19, 2008

Like it or not the US taxpayer is coming to the rescue of the financial markets. Following weeks of firefighting rapidly, unpredictable, and calamitous individual financial services crisis Treasury Secretary Paulson comes with a comprehensive plan to stop the madness.

Mortgage Rate Volatility

By:: Bill Rice - MortgageLoan.com | September 19, 2008

Mortgage rates are certain to volatile over the next few weeks.

Loan Modification can Prevent Foreclosure

By:: Tom Kerr - MortgageLoan.com | September 18, 2008

Loan modification-which means officially changing the terms of an existing mortgage-is one of the best methods to prevent foreclosure. But those facing foreclosure aren't always eligible for loan modification, because the terms and conditions may be hard to meet.

Reverse Mortgages as Foreclosure Saviors

By:: Tom Kerr - MortgageLoan.com | September 18, 2008

Reverse mortgages, or HECM loans, are commonly used to help senior citizens tap into their home equity for retirement. But some distressed homeowners are also turning to reverse mortgages to reverse the momentum of looming foreclosures, and save their homes from repossession.

Loan Modifications, Government's Preferred Foreclosure Remedy

By:: Bill Rice - MortgageLoan.com | September 18, 2008

Cleaning up a uniquely collapsing mortgage market it going to challenge the creativity of the US government. One of the most innovative solutions that is under 'beta testing' is the broad use of loan modifications.

Mortgage Rates Up

By:: Bill Rice - MortgageLoan.com | September 18, 2008

Mortgage rates beginning to climb.

Where to Find Government Refinance Assistance

By:: Catherine Brock - MortgageLoan.com | September 17, 2008

Don't panic if you need to refinance quickly; dozens of state and federal government programs can help.

How to Set up Laddered CDs

By:: Catherine Brock - MortgageLoan.com | September 17, 2008

Build a CD ladder to optimize the liquidity and performance of your time deposits.

Mortgage Rates Drop, Refinance Boom Ahead?

By:: Bill Rice - MortgageLoan.com | September 17, 2008

Last week mortgage rates plummeted to a five month low and took the steepest weekly dive in 28 years. Does this forecast a mini refinance boom? Not likely. Lower rates does not mean easier mortgages, this time around.

Say Good-bye to Down Payment Assistance Programs

By:: Catherine Brock - MortgageLoan.com | September 16, 2008

The Housing and Economic Recovery Act of 2008 shuts off an important form of funding for some homebuyers.

Get out of Debt Before the Economy Gets You

By:: Greg Mischio - MortgageLoan.com | September 16, 2008

The American economy is sputtering, and with oil prices unstable and foreign powers like China and India gaining momentum, our country faces an uphill climb. Debt elimination should be on everyone's mind. With a little debt consolidation and a whole lot of discipline, you can make it happen.

Fed Likely to Leave Rates Unchanged

By:: Bill Rice - MortgageLoan.com | September 16, 2008

An economic roller coaster ride preludes today's Fed meeting. A continual battle between mortgage market recovery, a softening economy, and the dull roar of inflation in the background. However, despite the economic drama of the last month the Federal Reserve is most probably going to do nothing--leaving benchmark lending rates at 2%

The Fed Meets Today

By:: Bill Rice - MortgageLoan.com | September 16, 2008

After a weekend filled with US government and Wall Street deal making, a Monday opening that hit the stock market as hard as the 9/11 terrorist attacks, and a mortgage market continuing to crash the only certainty is that the Fed will not raise the target funds rate.

Mortgages: Harder to Get and More Expensive

By:: Tom Kerr - MortgageLoan.com | September 15, 2008

Mortgages-whether from the FHA, Fannie Mae, Freddie Mac, or private lenders-are getting more costly and increasingly difficult to qualify for, thanks to an ongoing financial crisis. Rather than helping Americans fulfill their American dreams and buy their home, banks seem to be putting obstacles in the path.

Loan Modification Plan: FDIC and IndyMac

By:: Catherine Brock - MortgageLoan.com | September 15, 2008

The FDIC and IndyMac Federal Bank, FS have put their heads together on a loan modification program that will help at-risk borrowers avoid foreclosures.

Home Buyers and Mortgage Refinance Get Discount on Fannie, Freddie

By:: Bill Rice - MortgageLoan.com | September 15, 2008

Life has sprung back into mortgage lenders and banks. Borrowers are calling for the new, low rates and loan officers are calling past clients to tell them the good news. Mortgage rates have dropped at a 28 year historical rate--over 0.50 percent in one week. With rates as low as they have been since April 2008 homeowners are thinking this is a unique opportunity to get out of risky adjustable rate mortgages.

Expect Over Active Markets

By:: Bill Rice - MortgageLoan.com | September 15, 2008

Today, following a Wall Street weekend deal-attempting marathon, is expected to be a very active trading day.

Presidential Politics: Will Candidates Clean Up Mortgage Mess?

By:: Catherine Brock - MortgageLoan.com | September 14, 2008

Mortgage reform is a hot topic these days, particularly as the presidential campaign gain's momentum.

Mortgage Rates: Know When to Lock

By:: Greg Mischio - MortgageLoan.com | September 13, 2008

If you love gambling but can't afford to fly to Las Vegas, consider floating your mortgage rate. Not locking in a rate is a definite gamble; it can yield big rewards or big losses. Know the odds before you take the risk.

Money Management Software Makes Internet Home

By:: Anders Bylund - MortgageLoan.com | September 12, 2008

Keeping your accounts organized has never been easier; but which software package should you use?

Compulsive Cash-Out Refinancing is a Risky Scenario

By:: Tom Kerr - MortgageLoan.com | September 12, 2008

Frequent cash-out refinancing can be a financially risky strategy, because a cash-out refinance can bleed the equity out of your property. Before doing a refinance of any kind, it's important for homeowners to carefully study the bottom line and the long-term repercussions of such a move.

Mortgage Rates at 5 Month Low, Biggest Weekly Drop in 28 Years

By:: Bill Rice - MortgageLoan.com | September 12, 2008

If you were waiting for another chance to lock in that low 30-year mortgage rate it is here, and the government is hoping you will take it. This week 30-year mortgage rates tumbled under 6 percent to the lowest rates since April. This 0.5-0.6 percent, one week drop, is the single largest since the 1980s when mortgage rates hovered around 15 percent.

30-Year Fixed at 5 Month Lows

By:: Bill Rice - MortgageLoan.com | September 12, 2008

Well below 6 percent for a 30-year fixed mortgage, mortgage rates drop to 5 month lows.

Do Savings Accounts Matter?

By:: Catherine Brock - MortgageLoan.com | September 11, 2008

Savers, who are seeing their wealth dry up from inflation, are being overlooked, as federal resources rally to help those who've been far less responsible.

How to Avoid Foreclosure

By:: Tom Kerr - MortgageLoan.com | September 11, 2008

Foreclosure prevention tops the wish list for many American homeowners; but avoiding foreclosure in today's market can be extremely challenging. It is possible, however, and borrowers should pursue solutions to avoid foreclosure--especially opportunities for loan modification.

Government is Making it Simple to Find a New Mortgage

By:: Bill Rice - MortgageLoan.com | September 11, 2008

There are millions of homeowners and home buyers that desperately need to find the right mortgage. Some need more reasonable payments, while others are taking the opportunity to get a great deal on distress housing prices. Fortunately for all of these eager borrowers the US government wants to make the process of getting that new mortgage as easy as possible.

Saving Celebrity Homes from Foreclosure

By:: Catherine Brock - MortgageLoan.com | September 10, 2008

Foreclosure isn't just for the mainstream population; celebrities are getting hit with mortgage problems, too.

What Makes Mortgage Rates Tick?

By:: Tom Kerr - MortgageLoan.com | September 10, 2008

Many economic indicators influence mortgage rates, but the biggest factor is still Fed policy. Current mortgage rates aren't following a completely predictable pattern, so borrowers should look long term rather than trying to guess week-to-week rate changes.

Lehman Open Market Shopping is Unsettling to Investors

By:: Bill Rice - MortgageLoan.com | September 10, 2008

Lehman is expected to end its long and public quest for a suitor today. Plans are to outline its plans today to strengthen its balance sheet and calm investor nerves. The latest turn away by the Korea Development Bank, who confirmed that talks have ended, sent Lehman shares plummeting 45 percent to close at $7.79 on Tuesday.

Advertising and the Home Equity Fiasco

By:: Catherine Brock - MortgageLoan.com | September 09, 2008

In the 1980s, financial companies set out to change the perception of second mortgages among the American public. Unfortunately, no one predicted just how expensive that endeavor would ultimately be.

Are Online Mortgage Rates for Real?

By:: Greg Mischio - MortgageLoan.com | September 09, 2008

The Internet could easily be considered the "misinformation" superhighway. Every day, people post articles with inaccurate information. But the big question for homebuyers is, how accurate are online mortgage rates?

Recession Talk Resurgent on Latest Unemployment Reports

By:: Bill Rice - MortgageLoan.com | September 09, 2008

August's unemployment numbers surged 84,000 to 6.1 percent, a five-year high. Rallying back the recessionary and doomsday economist. Coming out of the Fed's annual economic summit with dialogue that seemed certain to point to Fed rate increases at the September FOMC--the other shoe has dropped.

Combating the Stress of Foreclosure

By:: Catherine Brock - MortgageLoan.com | September 08, 2008

Foreclosures are still on the rise, and they're taking a toll on the American psyche.

Government-Backed Mortgages Key to Economic Recovery

By:: Tom Kerr - MortgageLoan.com | September 08, 2008

Many first-time homebuyers, veterans, senior citizens, and people who are delinquent on mortgage payments but otherwise have good credit will benefit from provisions in the new housing bill.

Fannie, Freddie Bailout Helps Market Not Troubled Homeowners

By:: Bill Rice - MortgageLoan.com | September 08, 2008

The government hopes its takeover of Fannie Mae and Freddie Mac on Sunday will bring stability to the free falling mortgage market. Unfortunately, the move is unlikely to help the growing number of homeowners struggling to make their mortgage payment.

WaMu on the Ropes, Tosses Killinger, Files Recovery Plan with OTS

By:: Bill Rice - MortgageLoan.com | September 08, 2008

Washington Mutual (WaMu) a constant whisper on the bank failure watch list, has aggressively moved to save itself. Today WaMu announced the ousting of chief executive Kerry K. Killinger and agreed to file a recovery plan with its chief regulator, the Office of Thrift Supervision (OTS).

30-Year Fixed Down on Fannie, Freddie Bailout

By:: Bill Rice - MortgageLoan.com | September 08, 2008

Government rescue of Fannie Mae and Freddie Mac has intended effect--mortgage rates are heading down.

Refinance out of a Risky Mortgage

By:: Greg Mischio - MortgageLoan.com | September 07, 2008

Home values have plummeted, while the interest rates on adjustable rate mortgages (ARMs) are rising. The bubble has obviously burst for the U.S. housing market, and it may be "refinance risky mortgage" time for you.

Ginnie Mae Steps Up to Plate in Mortgage Crisis

By:: Catherine Brock - MortgageLoan.com | September 06, 2008

The Housing Stimulus Bill gives the FHA and Ginnie Mae the challenge of leading the country out of a mortgage crisis.

Tenants: Protection from Landlord Foreclosure

By:: Catherine Brock - MortgageLoan.com | September 06, 2008

A California bill seeks to establish protections for renters whose landlords aren't staying current with their mortgage payments.

Government Take Over of Fannie, Freddie Imminent

By:: Bill Rice - MortgageLoan.com | September 06, 2008

Fannie, Freddie expected to be taken over by the government as early as this weekend to prevent pending failure of the two huge mortgage institutions.

Need a Refinance? Try a private lender

By:: Tom Kerr - MortgageLoan.com | September 05, 2008

As it becomes increasingly difficult to borrow for a refinance from traditional banks, more and more consumers are turning to private lenders. While this strategy usually costs more, it involves fewer hassles and more assurances that loans will go through without delays.

Jumbo Loans May Offer Jumbo Rates

By:: Catherine Brock - MortgageLoan.com | September 05, 2008

Conforming loan limits may have changed, but lenders are still treating jumbo loans like damaged goods.

Mortgage Application Woes, What to Do When Your Lender Says No

By:: Bill Rice - MortgageLoan.com | September 05, 2008

The mortgage market is in a monumental shakeup and that is leaving many borrowers with rejected stamped on their mortgage application. However, there are lots of options to improve your chances of getting approved from credit repair to government mortgage assistance programs. Learn a few simple techniques to get your next mortgage application approved.

Can't Refinance? Consider Chapter 7 Bankruptcy

By:: Catherine Brock - MortgageLoan.com | September 04, 2008

When you have a mortgage you can't afford and refinancing isn't an option, don't dismiss the possibility that a Chapter 7 bankruptcy may actually help you in the long run.

All About Fixed-Rate Mortgages

By:: Greg Mischio - MortgageLoan.com | September 04, 2008

The recent upheaval in the subprime mortgage market has made borrowers skittish about using adjustable-rate mortgages. With current 30-year fixed mortgage rates low, and home values still sinking, many homeowners are opting for a fixed-rate product.

GMAC Lays off 5000, Shutters 200 Retail Branches

By:: Bill Rice - MortgageLoan.com | September 04, 2008

GMAC became the latest in a long line of mortgage business downsizing and closings. GMAC announced on Wednesday that it will be laying off 5000 employees and closing over 200 of its retail mortgage branches throughout the US.

Mortgage Rates Head Downward

By:: Bill Rice - MortgageLoan.com | September 04, 2008

Market proves Fannie, Freddie can continue to competitively finance debt. Sends Fannie, Freddie stock up and the US Dollar is ticking up.

Mortgages: It's EASY Being Green!

By:: Catherine Brock - MortgageLoan.com | September 03, 2008

Green mortgages are giving homeowners incentives to go green, one home at a time.

Debt Relief: Calling All Debtors-Help With Your Next Move

By:: Greg Mischio - MortgageLoan.com | September 03, 2008

Personal finance is a lot like chess. Each game requires good strategy and calculated decision-making to win. Make a careless move with your money and you could wind up heavily in debt. If you find yourself in this kind of jam, consider a debt consolidation loan.

Fannie, Freddie May Dodge Bailout

By:: Bill Rice - MortgageLoan.com | September 03, 2008

On the heels of a reasonably priced Freddie Mac auction of $1 billion in 5-year notes Fannie Mae and Freddie Mac's stock continues to climb out. This re-issuance priced at a spread of 95.6 basis points more than the 5-year US Treasury notes--signaling a reasonable risk premium and capability to continue issuing debt.

Foreclosure Prevention: A Spike in Prime Mortgage Foreclosures

By:: Tom Kerr - MortgageLoan.com | September 02, 2008

Just when we were getting used to the subprime crisis, lenders are now reporting record defaults and foreclosures related to prime mortgages. The trend indicates that the ongoing housing crisis isn't seeing any light at the end of the tunnel. Instead, we might be heading for another train wreck.

Life Insurance: Is Longevity Insurance Right for You?

By:: Catherine Brock - MortgageLoan.com | September 02, 2008

Longevity insurance offers protection against the possibility of outliving your bank account.

Is No Cost Refinancing Right For You?

By:: Catherine Brock - MortgageLoan.com | September 02, 2008

The no-free-lunch rule applies to mortgages, even those that call themselves no cost mortgage refinances.

Refinancing: Frequently Asked Questions

By:: Catherine Brock - MortgageLoan.com | September 02, 2008

Need refinancing answers fast? You're in the right place.

Fed Hawks Softening Inflationary Rhetoric

By:: Bill Rice - MortgageLoan.com | September 02, 2008

As the next Federal Open Market Committee (FOMC) quickly approaches the anti-inflationary hawks are softening their rhetoric for a rate hike. Increasingly the call on September 16 looks to be one of staying the course as economic indicators continue to report in confusingly balanced, good and bad way. This certainly makes a case for the Fed to take their hands off the economic wheel again and let markets do as they may--to determine reality from hype.

Market Watches Freddie Debt Sale

By:: Bill Rice - MortgageLoan.com | September 02, 2008

All mortgage and investor market eyes are on Freddie Mac's debt sale today.

Home Equity: Thawing out a Frozen HELOC

By:: Tom Kerr - MortgageLoan.com | September 01, 2008

Hundreds of thousands of consumers are getting notices from their banks that their home equity lines of credit (HELOCs) have been frozen. This is causing a wave of credit crunch panic. There are options for responding to a HELOC freeze, but the lender still wields most of the power.

Mortgage Payment: Age Old Dilemma-Invest or Pay Down Mortgage?

By:: Catherine Brock - MortgageLoan.com | September 01, 2008

You get a sizeable raise that leaves you with some extra money every month. Does it make more sense to send that extra cash to your mortgage lender or to your brokerage account?

Learn About Streamline Refinancing

By:: Catherine Brock - MortgageLoan.com | September 01, 2008

An FHA or VA streamline refinance can reduce the payments on your mortgage, fast.

Home Equity FAQ

By:: Catherine Brock - MortgageLoan.com | September 01, 2008

Find the answers to all your questions about home equity and home equity debt.

Home Equity Conversion Mortgages

By:: Tom Kerr - MortgageLoan.com | September 01, 2008

The FHA's home equity conversion mortgage program (HECM) is designed to let older homeowners convert equity into cash without selling their homes. HECM loans are a type of reverse mortgage, and are made by banks, credit unions, and other typical mortgage lenders.

Learn About Money Market Accounts

By:: Catherine Brock - MortgageLoan.com | September 01, 2008

You could spend countless hours searching online for the best money market rates, but that won't necessarily lead you to the top money market account.

Understanding 125% Second Mortgages

By:: Catherine Brock - MortgageLoan.com | September 01, 2008

All that glitters is not gold. The 125% 2nd mortgage may reduce your monthly debt payment, but it's important to understand the risks before you jump in.

Learn About Piggyback Second Mortgages

By:: Tom Kerr - MortgageLoan.com | September 01, 2008

The piggyback 2nd mortgage is a small loan used in tandem with a first mortgage in order to help the buyer of a home avoid out of pocket expenses. Like other somewhat exotic mortgages, the piggyback loan should be used wisely and viewed with a modicum of caution and prudence.

Overview of No Equity Second Mortgages

By:: Catherine Brock - MortgageLoan.com | September 01, 2008

When the conditions are right, the no equity second mortgage is a powerful option for homeowners.

Benefits of a Chase Second Mortgage

By:: Greg Mischio - MortgageLoan.com | September 01, 2008

The Internet has become an active marketplace as people search for second mortgages. In particular, people have been looking up information on Chase second mortgages. Available in a fixed rate, fixed-term home equity loan or line of credit, the Chase second mortgage can help a homeowner tap his equity.

Mortgage Market Giving Economists Fits, Should Mortgage Borrowers Care?

By:: Bill Rice - MortgageLoan.com | September 01, 2008

It seems we are in the perfect economic storm for mortgages. Many homeowners and potential home buyers are stuck in a confusing mix of market signals. A blend of good and bad that leave us with a balanced scorecard. This is leaving most experts offering little practical advise and instead focusing on predicting the bottom. Since, there is little market news on this Labor Day lets take the down time to step back and see what all these current mortgage trends might mean to you.

Mortgage Legislation: New Legislation Impacts Owners of Multiple Home

By:: Catherine Brock - MortgageLoan.com | August 31, 2008

The housing stimulus package giveth and taketh; a tax-saving strategy used by the wealthy will soon be cut off to offset the costs of other tax breaks included in the stimulus package.

Mortgage Insurance Basics

By:: Tom Kerr - MortgageLoan.com | August 31, 2008

Mortgage insurance, commonly referred to as PMI or private mortgage insurance, plays a small but important role in our real estate economy. Because the insurance protects investors, it translates into more affordable and accessible loans for those Americans wanting to buy homes.

Auto Insurance: Finding the Right Policy

By:: Greg Mischio - MortgageLoan.com | August 30, 2008

Auto insurance is like any other financial product: It seems like thousands of companies offer it, and all of them claim to have the perfect rate for you. How do you find the right policy?

Stress-free Investing: Lifecycle Mutual Funds

By:: Anders Bylund - MortgageLoan.com | August 30, 2008

Too busy or too nervous to invest in stocks? Lifecycle mutual funds could be your ticket to a happy retirement.

Loan Locks and Mortgage Rate Trends

By:: Tom Kerr - MortgageLoan.com | August 29, 2008

Before locking in a home loan, it's wise to understand the general trend of current mortgage rates. Such knowledge improves your chance of getting the best or lowest rate at today's going prices.

Mortgage Rate Forecast

By:: Tom Kerr - MortgageLoan.com | August 29, 2008

Current interest rates are holding steady, but daily pressure to keep mortgage rates low is wearing thin because of today's weak-dollar economy. Most experts agree that it's not a question of if-but when-today's rates will rise.

Mortgage Fraud Increases, Could be Next Market Challenge

By:: Bill Rice - MortgageLoan.com | August 29, 2008

Mortgage meltdown discussions are peppered with discussions of the "liar loan," or the infamous streamline "no doc" mortgage. These mortgages filled the portfolios of most of the recently failed lending institutions. However, increased scrutiny on all types of lending should have closed off this risk. Or has it?

30 Year Mortgage Rate Continues to Decline

By:: Bill Rice - MortgageLoan.com | August 29, 2008

The 30-year fixed mortgage rate continues to decline slightly everyday. Currently, it has reached its lowest level in 6 weeks and is lower than the same time last year.

Back to school: Get frugal now!

By:: Greg Mischio - MortgageLoan.com | August 28, 2008

As summer comes to a close, the back-to-school shopping ads are blitzing the airwaves and cramming mailboxes. Stores are clamoring for your school supply dollars, knowing that you'll probably spend between $200 to $500 per child for supplies and clothes. You have a choice: get frugal or go broke.

Fannie Mae Management Shakeup Announced Late Wednesday

By:: Bill Rice - MortgageLoan.com | August 28, 2008

In late mortgage market news, Fannie Mae's CEO and board of directors announced a shuffling of the executive suite. No doubt these moves were to restore confidence in the rapidly falling mortgage finance giant.

Mortgage Help-Government Assistance to Troubled Borrowers Increases

By:: Bill Rice - MortgageLoan.com | August 28, 2008

The US government and the nation's largest banks have teamed up to stem the rising tide of foreclosures and mortgage delinquencies. However, statistics from July show that it is going to be tough to outpace escalating borrower troubles.

Mortgage Rates Continue Fall

By:: Bill Rice - MortgageLoan.com | August 28, 2008

Mortgage rates continue to fall slightly, but don't expected it to be the long-term trend.

HELOCs: Accentuate the Positive

By:: Catherine Brock - MortgageLoan.com | August 27, 2008

A home equity line of credit (HELOC) can give you the financial flexibility you need-and you might even feel like singing about it.

FOMC Minutes Signal Rate Hikes

By:: Bill Rice - MortgageLoan.com | August 27, 2008

Federal Open Market Committee (FOMC) recent minutes suggest that members, having "significant concerns about the upside risk to inflation," are likely to move toward a hike in rates as the next Fed policy move. However, the committee appears to be in conflicted discussion on what the data really means and timing of any policy decisions.

Rate Update 2008-08-27: FOMC Minutes

By:: Bill Rice - MortgageLoan.com | August 27, 2008

The recently released FOMC Minutes reflect a general consensus that inflation is the primary Fed concern.

Benefits of a 40-Year Mortgage

By:: Catherine Brock - MortgageLoan.com | August 26, 2008

The 40-year mortgage may have a place in your finances, as long as you know both its good and bad sides.

Could a Mortgage Loan Modification Prevent Your Foreclosure?

By:: Bill Rice - MortgageLoan.com | August 26, 2008

At least 25,000 homeowners recently got a gift letter from the Federal Regulators--offering them a new, more affordable mortgage payment. Could you be as lucky as these mortgage borrowers from the recently failed IndyMac Bank?

Mortgage Rate Forecast

By:: Tom Kerr - MortgageLoan.com | August 25, 2008

Can a Reverse Mortgage Secure Your Retirement?

By:: Bill Rice - MortgageLoan.com | August 25, 2008

According to a recent study of working-age households, 45% of Americans are going to fall short of retirement hopes. The Center for Retirement Research at Boston College cites "...the demise of traditional pensions, rising longevity, soaring health care costs, and falling returns" as reasons that current workers must strive to save more.

Existing Home Sales Up

By:: Bill Rice - MortgageLoan.com | August 25, 2008

The National Association of Realtors report that existing home sales climbed in July, exceeding expectations.

Credit Report Intricacies

By:: Catherine Brock - MortgageLoan.com | August 24, 2008

If you're confused by the information shown in your credit report, you may end up overlooking problems that are affecting your credit score.

Pay Off Debt with a Home Equity Loan

By:: Greg Mischio - MortgageLoan.com | August 24, 2008

The consumer is the true engine of our economy. The more people buy, the better our capitalist system works. While consumerism works well on a macro level, sometimes people over-extend themselves on the micro-level and accumulate debt. If you need to get yourself out of the red, consider using a home equity loan.

Commercial Mortgage Slump

By:: Tom Kerr - MortgageLoan.com | August 23, 2008

Even as companies struggle to lure customers during these harsh economic times, they may be forced to scale back plans for ordering year-end inventory or improving their facilities. A new scarcity of loans at affordable mortgage rates is putting the brakes on businesses expanding their businesses.

Learning from the Wealthy

By:: Catherine Brock - MortgageLoan.com | August 23, 2008

They say that imitation is the sincerest form of flattery. If you long to be rich, try imitating rich people-not how they spend, but how they save and invest.

Five Tips to Reduce Homeowner's Insurance

By:: Anders Bylund - MortgageLoan.com | August 22, 2008

Changing deductibles isn't the only way to save money on your home insurance.

What Does Fannie and Freddie Mean to Borrowers?

By:: Bill Rice - MortgageLoan.com | August 22, 2008

It seems the inevitable approaches for the US government and its "supported entities" Fannie Mae and Freddie Mac. Both, moving in tight alignment, have lost over 60% of their market value in the preceding 30 days. Hovering dangerously between $3-$5 a share. Something is certain to break. So, where does will a Fannie, Freddie meltdown leave mortgage borrowers?

Rate Update 2008-08-22: Bernanke Speaks Today

By:: Bill Rice - MortgageLoan.com | August 22, 2008

A full agenda of challenges greets the Federal Reserve governors at there annual Jackson Hole, Wyoming symposium.

Bernanke:Inflation Uncertain

By:: Bill Rice - MortgageLoan.com | August 22, 2008

Bernanke assures market the Fed will "act as necessary."

Comparing Money Markets to CDs

By:: Catherine Brock - MortgageLoan.com | August 21, 2008

Money markets and certificates of deposit (CDs) are not one and the same.

Election Day May Be About Taxes

By:: Bill Rice - MortgageLoan.com | August 21, 2008

The election of our next President quickly approaches. The ads, debate, and polls fill every media outlet. However, a bigger theme maybe brewing on state election ballots--tax reform.

Mortgage Rates Decline, but...

By:: Bill Rice - MortgageLoan.com | August 21, 2008

Mortgage rates continue to show slight declines, but look at it as a temporary trend or if you are a borrower a fleeting opportunity.

The New Housing Bill: What it Means for You

By:: Tom Kerr - MortgageLoan.com | August 20, 2008

Congress recently passed a new housing bill, and lawmakers claim that it will do much to help distressed homeowners. While many will now be able to refinance their loans to more affordable ones, it may be others who really benefit from the bill-including people who don't yet own a home.

Benefits of a 40-Year Mortgage

By:: Catherine Brock - MortgageLoan.com | August 20, 2008

The 40-year mortgage may have a place in your finances, as long as you know both its good and bad sides.

Homeowners Need Refinance Assistance More Than Ever

By:: Bill Rice - MortgageLoan.com | August 20, 2008

Foreclosures rates continue to rise, borrowers have found themselves trapped in loans where payments and principle balances balloon, and housing values continue to plummet. This is mixing a toxic cocktail of homeowner despair. However, the government is trying to formulate an antidote.

Rate Update 2008-08-20: Mortgage Rates Stagnant

By:: Bill Rice - MortgageLoan.com | August 20, 2008

Mortgage rates continued to hold steady yesterday despite the expected report of steep declines in housing starts.

Building a Home-Based Business

By:: Anders Bylund - MortgageLoan.com | August 19, 2008

Fulfill your own potential, and save money by doing it the right way.

Government Backed Loans Surge

By:: Bill Rice - MortgageLoan.com | August 19, 2008

When borrowers talked about getting a mortgage you typically heard discussions of Countrywide and IndyMac--now you hear FHA. Only a few months ago you would have been hard pressed to find a lender, much less a borrower, that knew this acronym. Borrowers now ask for FHA loans, by name. Meanwhile, mortgage brokers are rushing to become approved FHA lenders.

Rate Update 2008-08-19: Housing Starts Today

By:: Bill Rice - MortgageLoan.com | August 19, 2008

Expect a brief early trading panic as housing starts are expected to be off on a 10% decline--returning to little or no change for the day.

Debt Consolidation Not for the Wealthy

By:: Greg Mischio - MortgageLoan.com | August 18, 2008

As the economy worsens, consumers are looking for new ways to scrounge up a buck. Many are turning to debt consolidation as a method to make ends meet. For the wealthy, however, debt consolidation is the last thing on their minds.

Can a Bad Appraisal Cost You Your Home?

By:: Bill Rice - MortgageLoan.com | August 18, 2008

In the exuberance of the mortgage boom, it was broadly accepted that home values were moving upward quickly. Were these swiftly rising home values justified? Home owners are beginning to feel the pain of inflated appraisals. In some cases it is even costing them their homes.

Rate Update 2008-08-18: Mortgage Rates Expected to Remain Quite

By:: Bill Rice - MortgageLoan.com | August 18, 2008

With a light week of economic reports expect a quite week in mortgage rates.

The Truth About Credit Scores

By:: Catherine Brock - MortgageLoan.com | August 17, 2008

What's the truth about bad credit scores? You can alter them, even when your access to credit is limited.

Use Internet for Best CD Rates

By:: Catherine Brock - MortgageLoan.com | August 16, 2008

The Internet is your best resource for finding low CD rates from reliable banks.

Home Equity Debt: Take the Good with the Bad

By:: Greg Mischio - MortgageLoan.com | August 15, 2008

Forrest Gump once noted that life is like a box of chocolates-you never know what you're going to get. A home equity mortgage is a little different. You know that there are going to be pros and cons. Consider them all before you close on a loan.

Credit Cards: The Late Payment Curse

By:: Greg Mischio - MortgageLoan.com | August 15, 2008

To the chagrin of millions of Americans, there's no easy way to shake off the curse of bad credit. Make a few late payments today, and they can severely impact your credit score tomorrow-and for a long time.

Mortgage Rates Hold Steady on Mixed Bag of Economic News

By:: Bill Rice - MortgageLoan.com | August 15, 2008

Home Mortgage Rate hold steady for the third straight week as the mortgage market is peppered with offsetting economic and housing indicators. Although there were several deviations from analyst estimates and expectations, notably in the Consumer Price Index and existing home sales, there were equally offsetting data in declining energy prices, a strengthening dollar, and record foreclosures. This mix and confusing bag of inputs seemed to leave the market feeling safer not to tinker with the status quo.

Rate Update 2008-08-15: Expect Little Change in Mortgage Rates

By:: Bill Rice - MortgageLoan.com | August 15, 2008

A day full of economic reports, but little news expected that is not already priced into the mortgage rate market.

Finding Your Perfect Mortgage

By:: Greg Mischio - MortgageLoan.com | August 14, 2008

In today's topsy-turvy financial world, finding a perfect mortgage is a tall order. However, you can find a mortgage that fits your personal financial situation. It will take some research, patience, and realistic goals. Here are a few simple tips to get you started.

PMI Losses Might Hurt Consumers

By:: Tom Kerr - MortgageLoan.com | August 14, 2008

Private mortgage insurance (PMI) is typically required for homeowners who have less than 20 percent equity in their property. But PMI providers are suffering huge losses, and that may translate into higher costs for consumers-even if they don't actually need coverage.

US Foreclosures Rise 55%, Banks Seizures Climb 184%

By:: MortgageLoan.com - MortgageLoan.com | August 14, 2008

New US legislation, effective 1 October, meant to help home owners stay in their home may not be coming soon enough. Today RealtyTrac, an online marketplace for foreclosure properties, announced staggering increases in foreclosure and bank seizure rates. In their July US foreclosure data RealtyTrac reported foreclosure activity up 8% from the previous month and has risen to 55% from last years levels. Perhaps even more alarming is the steep increase of bank repossessions and REOs that surged to 184% year-over-year.

Rate Update 2008-08-14: 30 Year Mortgage Rate Remains Flat

By:: Paul King - MortgageLoan.com | August 14, 2008

Freddie Mac reports the average 30-yr mortgage rate was flat 6.52% for the 3rd week, in the latest report while the 15-yrs dropped to 6.07% from 6.10% and the average 1-yr adjustable rate dropped to 5.18% from 5.22% (Reuters)

Sale Leasebacks Make a Comeback

By:: Tom Kerr - MortgageLoan.com | August 13, 2008

With millions of homeowners facing foreclosure due to adjustable-rate mortgage increases and slumping real estate values, sale leaseback strategies are in vogue. In this strategy, the homeowner sells her house and immediately leases it back as a tenant.

Protect Yourself From Bank Failures

By:: Catherine Brock - MortgageLoan.com | August 13, 2008

IndyMac Bank was taken over by regulators, and more banks possibly will follow. If you're worried about your bank, learn how to prepare for the worst.

Nehemiah Launches Web 2.0 Campaign to Save DPAs

By:: MortgageLoan.com - MortgageLoan.com | August 13, 2008

Nehemiah Corporation, operator of the largest down payment assistant (DPA) program in the nation, launches an aggressive 50 day Web and social media campaign to save a program axed by the recent Housing and Economic Recovery Act signed into law by President Bush two weeks ago today. As the ban marches towards its effective date of October 1, Nehemiah is attempting to surge awareness and action in support of a reinstating bill (H.R. 6694) introduced into the House of Representatives on July 31.

The Underbelly of Your Good Faith Estimate

By:: Tom Kerr - MortgageLoan.com | August 12, 2008

Even the most well-intentioned ideas will fail if they're poorly executed. The Good Faith Estimate (GFE) is a perfect example. Created to provide consumers with some solid numbers in the mortgage process, it often results in confusion instead of clarity.

Speedy Does It: Quick Ways to Repay Your Mortgage

By:: Catherine Brock - MortgageLoan.com | August 12, 2008

You don't need a mortgage expert or special advisor to help you pay back your mortgage early.

Credit Tightening Squeezes Out Motivated Home Buyers

By:: MortgageLoan.com - MortgageLoan.com | August 12, 2008

The Federal Reserve continues to report broader consumer credit tightening--stretching across home loans into small business and credit cards. Defaults and delinquencies are beginning to spread into prime lending and economic indicators continue to show weakness. In response banks are rapidly tightening lending standards.

Surviving the Current Mortgage Rate Environment

By:: Tom Kerr - MortgageLoan.com | August 11, 2008

Mortgage money is tight and getting tighter, so homeowners hoping to get a loan at a reasonable mortgage rate need to be better prepared. Lenders are more skeptical, require greater proof of income and assets, and may still charge higher fees if and when they do grant loan approval.

New Fed Restrictions on Mortgage Lenders

By:: Tom Kerr - MortgageLoan.com | August 11, 2008

New mortgage rules governing the practices of mortgage lenders have been adopted and will go into effect about 18 months from now. They promise to protect consumers in ways that are long overdue, while simultaneously safeguarding the nation against a repeat of the subprime mortgage crisis.

Paulson Says His Time is Short, Unlike US Economic Woes

By:: MortgageLoan.com - MortgageLoan.com | August 11, 2008

Henry Paulson, in his Sunday "Meet the Press" gathering has said he believes challenges in the US housing markets are likely to persist beyond this year, unlike his tenure as Treasury Secretary which won't stretch beyond the Bush administration.

Rate Update 2008-08-11: Bonds Down and Stocks Down Today

By:: Paul King - MortgageLoan.com | August 11, 2008

Bonds were down Monday despite stock market losses. Rates should however improve today on strength in bonds from last Friday afternoon. Improvement should be no more than .125 to price.

Refinancing: Can the Government Really Help?

By:: Catherine Brock - MortgageLoan.com | August 10, 2008

Government programs designed to help America out of the housing crisis may finally get pushed through to implementation. How much relief these programs can provide, however, remains to be seen.

Cost of Living Getting More Costly

By:: Catherine Brock - MortgageLoan.com | August 10, 2008

You don't need to track reported inflation figures to know when a paycheck doesn't last as long as it used to.

Debt Consolidation for Students

By:: MortgageLoan.com - MortgageLoan.com | August 09, 2008

Multiple student loan payments at varying interest rates may be confusing and inconvenient, to say the least. If you're a recent college graduate, it's worthwhile to look at a debt consolidation loan.

Steps to Reduce Property Taxes

By:: Greg Mischio - MortgageLoan.com | August 09, 2008

When the real estate market was red hot, property tax assessments were keeping right in step with home values. Now that the bubble has burst, it's logical to think that taxes should decrease, too. It may be logical, but it's not realistic. Your property taxes may stay the same, unless you do something about it.

How Refinancing Can Hurt Insurance Rates

By:: Catherine Brock - MortgageLoan.com | August 09, 2008

A mortgage refinance may have some negative consequences that you never anticipated.

Student Loans: Embracing the Current Economic Crisis

By:: Catherine Brock - MortgageLoan.com | August 08, 2008

A troubled economy can help or hinder your family's ability to obtain loans for college expenses.

Top Professions for Students

By:: Greg Mischio - MortgageLoan.com | August 08, 2008

If you're a student entering college, you've embarked on a journey. You've taken the first step out of the nest, and next you'll begin to plot your career course. Picking the right occupation will become a top priority in the years to come, and may even determine what kind of student loans you choose.

Option ARMs Misused by Borrowers and Brokers

By:: MortgageLoan.com - MortgageLoan.com | August 08, 2008

As the mortgage meltdown attention is focused firmly on the subprime market there is a subtle, yet alarming trend emerging in special mortgages made to good credit borrowers. Option ARMs, typically made to borrowers with good credit, are estimated by Barclays Capital to reach default rates as high as 48%.

For Your Consideration: Early Retirement Buyout

By:: Catherine Brock - MortgageLoan.com | August 07, 2008

Early retirement buyouts are becoming an increasingly popular means of downsizing for U.S. employers. What would you do if your employer offers you a severance package?

Six Tips for Beating Inflation

By:: Anders Bylund - MortgageLoan.com | August 07, 2008

Time is on your side when it comes to inflation, as long as you have some thoughtful preparation.

Five Ways to Thwart Scammers

By:: Greg Mischio - MortgageLoan.com | August 07, 2008

Identity theft is no longer a novelty. Widespread reports of ID crimes have heightened consumer awareness of the need to protect personal financial information. While many have taken steps to ensure their protection, you can never be too careful. Here are additional steps to keep your information secure.

Paulson Turns to Morgan Stanley for Fannie, Freddie Guidance

By:: MortgageLoan.com - MortgageLoan.com | August 07, 2008

Ahead of Freddie Mac's revelation of $821 million in second quarter losses and in anticipation of Fannie Mae's estimated report of a 15% downturn on Friday, Secretary of Treasury, Henry Paulson tasks Morgan Stanley to assess the current and pending damage to cornerstones of the mortgage market.

Troubles with Freddie, Fannie Affect Mortgage Rates

By:: Tom Kerr - MortgageLoan.com | August 06, 2008

The nation's two largest mortgage institutions recently stepped close to the brink of collapse and bankruptcy, sending shock waves through the nation's economy. These problems can impact mortgage rates, which is important to those buying or refinancing a home.

New Mortgage Rules

By:: Tom Kerr - MortgageLoan.com | August 06, 2008

After hammering out the details for months, the government recently unveiled tougher new rules and regulations related to the mortgage industry. They're meant to protect consumers while helping the nation avoid a repeat of the subprime mortgage crisis.

Careers with Free Housing

By:: Catherine Brock - MortgageLoan.com | August 06, 2008

With the housing market in a slump, nothing sounds better than having someone else cover the tab for your living expenses. By taking a job that offers free housing as a perk, you can contribute your saved cash to a fund that will enable you to buy a home of your own in the future.

Pay Option ARMs Next Wave of Foreclosures?

By:: MortgageLoan.com - MortgageLoan.com | August 06, 2008

While analysts are tabulating and predicting default rates on less-credit worthy subprime portfolios there may be another specter lurking in the shadows of many good credit (prime) mortgage portfolios--payment option ARMs.

Fannie Mae Set to Raise Fees--Borrowers See it in Interest Rate

By:: MortgageLoan.com - MortgageLoan.com | August 06, 2008

As Fannie Mae prepares for what is certain to be a brutal quarterly earnings report to analysts and investors on August 8, stockholders can rest assured higher fees are on the way.

Finding the Perfect Mortgage Broker

By:: Tom Kerr - MortgageLoan.com | August 05, 2008

These are extremely challenging times for consumers browsing for a mortgage, and it often helps to use the services of a broker. Before hiring one, it's important to shop for one who's reliable, resourceful, and reasonably priced.

To Rent or Buy Your Next Home

By:: Catherine Brock - MortgageLoan.com | August 05, 2008

Not sure about renting vs. owning your next home? Take a closer look at the conveniences of renting compared to the financial benefits of owning.

All About Reverse Mortgage Scams

By:: MortgageLoan.com - MortgageLoan.com | August 05, 2008

Reverse mortgages can be a fantastic deal for older Americans, or their biggest nightmare. Here are some common reverse mortgage scams to steer clear of.

Fed Boss in Interest Rate Conundrum

By:: MortgageLoan.com - MortgageLoan.com | August 05, 2008

Federal Reserve Chairman Ben S. Bernanke faces one of his more challenging Federal Open Market Committee (FOMC) interest rate decisions this afternoon.

Rate Update 2008-08-05: Fed Holds Rates Unchanged at Conclusion of FOMC Meeting

By:: Paul King - MortgageLoan.com | August 05, 2008

The Fed held rates steady at the conclusion of its meeting today, citing in a post meeting statement that although the economy has slowed, the threat of inflation remains.

Don't Count on Your HELOC

By:: Tom Kerr - MortgageLoan.com | August 04, 2008

Home equity lines of credit, or HELOCs, have begun to dry up across the U.S., leaving many homeowners strapped for cash. If you can find one, they're no longer as dependable as they once were, so borrowers should wean themselves from them as soon as possible.

Obstacles to Home Equity Loans

By:: Tom Kerr - MortgageLoan.com | August 04, 2008

Two years ago, the easiest way for most Americans to raise fast cash was through a home equity loan. But nowadays, those same home equity products are among the hardest to qualify for, as lenders continue to tighten up on their application rules and purse strings.

Rate Update 2008-08-04: Mortgage Rates Up on Strong Consumer, Manufacturing Reports

By:: Paul King - MortgageLoan.com | August 04, 2008

Mortgage rates increased on Monday on stronger than expected economic data, mortgage rates should be up .25 to the points today.

Common Misunderstanding About Credit Cards

By:: Greg Mischio - MortgageLoan.com | August 03, 2008

A misunderstanding between friends can lead to hurt feelings and strained relations. A misunderstanding regarding the way your credit card works could cost you money, leave you vulnerable to identity thieves, and hurt your credit score.

Five Bankruptcy Misunderstandings

By:: Catherine Brock - MortgageLoan.com | August 03, 2008

Bankruptcy arouses love, hate, and confusion among the general public.

Learn About Non-Profit Debt Consolidation Companies

By:: Catherine Brock - MortgageLoan.com | August 03, 2008

Are non-profit debt consolidation companies legitimate? How can they help you with your debt problem? Are you going to get ripped off? Find the answers to these questions below.

Refinancing in Today's Environment

By:: Tom Kerr - MortgageLoan.com | August 02, 2008

The financial formulas used in the past to help homeowners make mortgage refinance decisions may be obsolete. Before refinancing, it's important to put the decision into an updated and accurate perspective.

Take Credit for Tax Credits

By:: Catherine Brock - MortgageLoan.com | August 02, 2008

Tax credits reduce your tax liability dollar-for-dollar; that's practically the same thing as money in your pocket.

Bad Credit? Find Cash Now!

By:: MortgageLoan.com - MortgageLoan.com | August 02, 2008

Everyone gets into a cash flow crunch sometime. If it happens to you, know where to go to raise money in a hurry.

Car Talk: Buy or Lease Your Next Car?

By:: Greg Mischio - MortgageLoan.com | August 02, 2008

Decisions abound when you're purchasing a new car, and one of the biggest is whether you should lease or buy. The answer will be dictated by your personal financial situation. If you establish your priorities first, you should have no problem making the right decision.

Household Stuff: Found Money

By:: Catherine Brock - MortgageLoan.com | August 01, 2008

Your attic, basement, or closets could be hiding valuable assets that are just waiting to be turned into cash.

Severance Survival Kit

By:: Catherine Brock - MortgageLoan.com | August 01, 2008

Based on recent economic data, the chances that you're going to be laid off are higher than they were just a few short months ago. That's reason enough to be proactive about having a plan so that you can get by until you land another job.

Time to Refinance Your Adjustable-Rate Mortgage

By:: Greg Mischio - MortgageLoan.com | August 01, 2008

The lessons of the subprime mortgage crisis are obvious: If you have an adjustable-rate mortgage, refinancing to a fixed-rate home loan is a smart move. The sooner you act, the less likely you'll get caught between rising interest rates and declining home values.

IndyMac Files for Chapter 7 Bankruptcy

By:: MortgageLoan.com - MortgageLoan.com | August 01, 2008

The second largest mortgage lender in the United States, IndyMac has filed for bankruptcy protection less than three weeks after it was seized by federal regulators following a bank run by depositors.

Rate Update 2008-08-01: Rates Increase On Mixed Employment Report for July

By:: Paul King - MortgageLoan.com | August 01, 2008

Bonds were down Friday on mixed economic news. Rates should increase by .125 to price.

Retire Mortgage Free

By:: Catherine Brock - MortgageLoan.com | July 31, 2008

If the biggest obstacle between you and your retirement is your mortgage payment, consider easing the burden on yourself with this outside-the-box strategy.

Unraveling the Mortgage Rate Mystery

By:: Catherine Brock - MortgageLoan.com | July 31, 2008

Mortgage rates don't appear out of nowhere; get the inside line on how rates are set before you start shopping for a new or refinanced mortgage.

Will An Increase in Mortgage Rates Affect You?

By:: Tom Kerr - MortgageLoan.com | July 31, 2008

It's increasingly important to trim budgets as much as possible this summer. One of the biggest areas of concern is mortgage payments. Loan rates appear to be on the move, and those changes may have a direct impact on your monthly expenses.

Freddie Mac ups Ante in Fight against Foreclosure

By:: MortgageLoan.com - MortgageLoan.com | July 31, 2008

Freddie Mac today outlined plans to tackle foreclosures by doubling financial incentives to mortgage serving companies.

Rate Update 2008-07-31: Rates Improve On Evidence of Slowing Economy

By:: Paul King - MortgageLoan.com | July 31, 2008

Bonds were up today, and rates down on economic news that is good for mortgage rates. Rates should improve by .375 to the price.

Pointers to Help Sell Your Home Now!

By:: Greg Mischio - MortgageLoan.com | July 30, 2008

Home sales are hurting, and if you're trying to sell yours now, you're undoubtedly feeling the pain. It's a tight market, but not an impossible one. Here are some tips to help you get competitive and find the right buyer.

Fannie and Freddie Take the Plunge

By:: Tom Kerr - MortgageLoan.com | July 30, 2008

Shares of the most important mortgage companies in the U.S.-Fannie Mae and Freddie Mac-did a nosedive in July. The agencies are now virtually insolvent. This is an extremely disturbing sign of worsening real estate and mortgage conditions.

Mortgage Smarts: Know What You're Getting

By:: Catherine Brock - MortgageLoan.com | July 30, 2008

Getting caught off-guard by restrictive mortgage terms that your lender didn't warn you about can be disastrous. Avoid this fate by learning what to look for in your loan documentation.

Home Prices Experience Record Drop

By:: MortgageLoan.com - MortgageLoan.com | July 30, 2008

Home prices for the month of May dropped a record 15.8 percent over the same period last year, Standard & Poor's / Case-Shiller 20 city index revealed on Tuesday.

President Bush signs Housing Bill

By:: MortgageLoan.com - MortgageLoan.com | July 30, 2008

President George W Bush has signed a landmark housing bill designed to provide mortgage relief for over 400,000 struggling U.S. homeowners, Fannie Mae and Freddie Mac as well as strengthen the housing finance system.

The Heart of Pittsburgh: Reconciliation Before Foreclosure

By:: Tom Kerr - MortgageLoan.com | July 29, 2008

Before enforcing foreclosure evictions, one compassionate Sheriff in Pennsylvania plans to invite homeowners to meet with mortgage lenders and financial counselors. By doing so, he hopes to stop foreclosures through proactive solutions.

Home Equity Loans Join the Ranks of Subprimes

By:: Tom Kerr - MortgageLoan.com | July 29, 2008

Household budgets are currently strained, and many homeowners are falling behind on payments. The American Bankers Association reports that home equity loan defaults are rising. It seems that all kinds of loans may go the way of notorious subprime mortgages.

Rate Update 2008-07-29: Consumer Confidence Up, Mortgage Rates Up

By:: Paul King - MortgageLoan.com | July 29, 2008

Bonds are down Tuesday following stronger than expected economic news and stock market gains. Rates will increase by up to .25 to price today.

Age Appropriate Credit Cards

By:: Greg Mischio - MortgageLoan.com | July 28, 2008

Different stages in life require different financial tools. Investments, mortgages, and student loans are all available tools based on your age and goals. Credit cards are part of that mix, and it's important to select the right plastic for your age.

Independent Debt Consolidation

By:: MortgageLoan.com - MortgageLoan.com | July 28, 2008

If you're looking to consolidate your debts, don't forget the do-it-yourself method. It can be a less painful path to financial freedom.

Debt Consolidation for Businesses

By:: Catherine Brock - MortgageLoan.com | July 28, 2008

Businesses that struggle to operate with high debt levels may benefit from debt consolidation.

Senate Passes Mortgage Aid Bill

By:: MortgageLoan.com - MortgageLoan.com | July 28, 2008

The U.S. Senate has approved a housing rescue bill by a 72-13 vote to help beleaguered homeowners stave off the threat of foreclosure.

Rate Update 2008-07-28: Rates Drop on Stock Weakness

By:: Paul King - MortgageLoan.com | July 28, 2008

Mortgage rates improved today by about an eighth of a discount point on stock market weakness.

Tax Savvy: Swap Your Vacation Home

By:: Catherine Brock - MortgageLoan.com | July 27, 2008

This just in: The IRS says that you can avoid a capital gains tax hit by swapping your vacation home instead of selling it. Just make sure that you follow the rules to qualify.

Kids and Investing: Too Far or Not Far Enough?

By:: Barbara Eisner Bayer - MortgageLoan.com | July 27, 2008

Back in the 1950's and '60s, when today's baby boomers were growing up, life was simple for kids. Before the birth of the Internet, the ipod, and MTV, most children's lives were filled with roller skate keys, black and white TVs, and waiting for the Good Humor truck to roll along.

Funding College Despite Low Income

By:: Greg Mischio - MortgageLoan.com | July 27, 2008

In America, part of the formula for success includes a college education. But a tightening economy and rising tuition costs has made it more difficult than ever to afford college, particularly for people with low incomes.

Analyzing College Aid Opportunities

By:: Catherine Brock - MortgageLoan.com | July 26, 2008

Comparing financial aid packages from different colleges isn't as easy as it sounds. Learn the tools and tricks to identify which offer brings you the most value.

For the Kids: Make Your Summer Earnings Grow

By:: Catherine Brock - MortgageLoan.com | July 26, 2008

Working teens, how does getting rich the easy way sound?

Auto Alternative: Two Wheelers

By:: Greg Mischio - MortgageLoan.com | July 26, 2008

You may hear about people having trouble making the hefty payments on a car loan, but you never hear a similar gripe from motorcyclists or bikers. Since the costs of operating two wheels instead of four are lower, it's prompting a major switch in driving habits.

Avoid Egregious Investing Errors

By:: Anders Bylund - MortgageLoan.com | July 26, 2008

Learn from the blunders of others to avoid repeating them.

Watch Our for Credit Score Damage

By:: Greg Mischio - MortgageLoan.com | July 25, 2008

There's more to your credit score than meets the eye. Credit bureaus take into account all your personal financial matters when evaluating your credit worthiness, including seemingly insignificant items like unpaid parking tickets and library fines.

Surviving a Recession with Aplomb

By:: Greg Mischio - MortgageLoan.com | July 25, 2008

Will you survive the recession with aplomb, or will you react as if hit by a bomb? Before answering, consider some of the benefits-yes, benefits-of a recession.

Retirees May Be Unable to Tap Home Equity by Refinancing

By:: Tom Kerr - MortgageLoan.com | July 25, 2008

Baby Boomers face new challenges when it comes to refinancing to tap home equity for fixed income. The real estate value they banked on to fund retirement may have been erased by the recent housing downturn, leaving them without the equity windfall typically enjoyed by seniors.

U.S Home Sales at Record Low

By:: MortgageLoan.com - MortgageLoan.com | July 25, 2008

The housing crisis shows no signs of abating as figures revealed on Thursday from an industry group show that the number of homes sold in the U.S fell by 2.6 percent in June compared over the same period last year to reach its lowest level in ten years.

Understanding Lowball Offers

By:: Tom Kerr - MortgageLoan.com | July 24, 2008

Negotiating for the best price for real estate can be a delicate process. By offering too much, it's easy for a buyer to overpay. Sometimes, a so-called "lowball" offer can offend the seller and jeopardize the whole deal. Experts say that communication is the key to success.

Fed Decisions Indicate Higher Mortgage Rates

By:: Tom Kerr - MortgageLoan.com | July 24, 2008

What the Federal Reserve Bank says and does can have a significant impact upon consumers at the retail level by affecting such things as mortgage rates, the buying power of the dollar, and the interest paid on credit card balances. Consumers are wise to pay attention to Fed policy in 2008.

Get Frugal: Hit the Internet for Everyday Savings

By:: Catherine Brock - MortgageLoan.com | July 24, 2008

The Internet is a great resource for locating savings on groceries, restaurant meals, and household goods.

Mortgage Application Volumes Drop 6.2 percent

By:: MortgageLoan.com - MortgageLoan.com | July 24, 2008

An increase in interest rates contributed to a decline in demand for mortgage application volumes which witnessed a 6.2 percent decrease in the week ending July 18, an industry trade group revealed on Wednesday.

Rate Update 2008-07-24: Rates Down As Stocks Tumble

By:: Paul King - MortgageLoan.com | July 24, 2008

Rates dropped for the first time in several days today, on large stock market losses. Rates should improve by at least .375 to price today.

Beat Inflation with High-Dividend Stocks

By:: Anders Bylund - MortgageLoan.com | July 23, 2008

When the stock market is under the horns of the bull, you can quickly pave your way to riches. But when it's under the paws of the bear, you can quickly lose a bundle. Adapting a slow and steady investing strategy will win the race no matter which animal is controlling the market.

Saving the Economy May Hurt Mortgage Rates

By:: Tom Kerr - MortgageLoan.com | July 23, 2008

Starting in 2007, the Fed voted to progressively cut mortgage rates, and within the first quarter of 2008, slashed them dramatically and severely. This reduction was an effort to provide needed liquidity to the mortgage and real estate industries. But now, with inflation our greatest economic threat, rates may rise. Such a shift in monetary policy could be painful for consumers.

Surviving the Mortgage Crisis: Living Outside the Box

By:: Greg Mischio - MortgageLoan.com | July 23, 2008

The recent bust in the housing market has caused a boom in other real estate markets. Alternative homes, such as RVs, co-ops, houseboats, and factory-built models are back on the radar screen.

Senate Agrees Housing Package Deal

By:: MortgageLoan.com - MortgageLoan.com | July 23, 2008

Senate leaders have agreed upon a rescue plan for the two largest mortgage finance companies Fannie Mae and Freddie Mac. The deal would allow the government to insure up to $300 billion in refinanced mortgages.

Rate Update 2008-07-23: Rates Up Despite No Economic News

By:: Paul King - MortgageLoan.com | July 23, 2008

Rates were up again today despite no new economic news. Rates will increase about .25 to the points.

Home Equity Lessons from the Texas Homestead Act

By:: Tom Kerr - MortgageLoan.com | July 22, 2008

Today's housing crisis was fueled by home equity borrowing that turned houses into credit cards or ATM machines, and put Americans into dangerous debt. By following home equity mortgage rules like the ones in the original Texas Homestead Act-which made it almost impossible to drain equity from one's primary residence-the nation could avoid such troubles in the future.

Home Equity is Where the Money is

By:: MortgageLoan.com - MortgageLoan.com | July 22, 2008

Home equity lending is drying up; but that doesn't mean that you can't earn extra cash at home. Here are some common ways people are taking advantage of their homes, and earning money doing it.

Wachovia Ceases Wholesale Mortgage Lending Operations

By:: MortgageLoan.com - MortgageLoan.com | July 22, 2008

Wachovia on Monday confirmed it was pulling out of the wholesale mortgage lending business as of Friday, July 25th.

Rate Update 2008-07-22: Bonds Down on Inflation Concerns

By:: Paul King - MortgageLoan.com | July 22, 2008

Bonds were down today on continued concern about inflation. Rates however may remain unchanged due to strength from Monday afternoon.

Preparing for Hurricane Season

By:: Greg Mischio - MortgageLoan.com | July 21, 2008

Nothing can equal the destruction Mother Nature delivers during a hurricane, and meteorologists are anticipating a particularly nasty season. To avoid financial and physical loss, take action today.

New Credit Techniques to Judge Consumers

By:: Catherine Brock - MortgageLoan.com | July 21, 2008

Credit card issuers are changing the rules as they go, leaving their customers and would-be customers stuck with insufficient available credit.

Foreclosures Dangerous for Pets

By:: Catherine Brock - MortgageLoan.com | July 21, 2008

Household pets are feeling the sting of foreclosure, too, as families move out and leave their furry friends behind.

Rate Update 2008-07-21: Mortgage Rates Unchanged

By:: Paul King - MortgageLoan.com | July 21, 2008

Monday's rates were unchanged after economic news met forecasted levels. However rates could increase today by .25 to price as a result of weakness from last Friday.

Reducing Property Taxes

By:: MortgageLoan.com - MortgageLoan.com | July 20, 2008

Property tax assessments aren't an exact science. There may be factors that lead to an over-assessment on your home. Checking it out can save you money.

ABCs of Credit Card Interest

By:: Catherine Brock - MortgageLoan.com | July 20, 2008

Whether you've been charging for years, or you've just received your first credit card, you're due for a lesson in the basics of interest.

Freezing Your Credit Report

By:: MortgageLoan.com - MortgageLoan.com | July 20, 2008

Worried you may become a victim of identity fraud? Freezing your credit report may be the ideal solution.

Shaq to Refinancing Rescue

By:: Catherine Brock - MortgageLoan.com | July 19, 2008

Shaquille O'Neal, basketball's Big Diesel, wants to provide refinancing for at-risk mortgages.

College Grads: Raise Cash Without Breaking a Sweat

By:: Catherine Brock - MortgageLoan.com | July 19, 2008

Your new paycheck seemed enormous until you started paying your bills. Learn how to stretch that salary with these quick tips.

Five Tips to Reduce Taxes Now

By:: Greg Mischio - MortgageLoan.com | July 19, 2008

Summer fun should not include worrying about taxes. But while the paperwork due on April 15th is probably at the bottom of your to-do list this summer, there are things you can do to reduce your taxes right now.

Reform Bad Driving Habits to Save Money

By:: Greg Mischio - MortgageLoan.com | July 19, 2008

A tough economy makes anyone wince at the thought of getting a car loan for a new set of wheels. You can pass on that new purchase by keeping your old car longer, and save yourself extra cash in the process by improving your driving and maintenance habits.

Time To Tweak Your Estate Plan

By:: Catherine Brock - MortgageLoan.com | July 18, 2008

Changes to the federal estate tax law may require you to make some adjustments to your estate plan.

Funding Real Estate Investing Opportunities

By:: Tom Kerr - MortgageLoan.com | July 18, 2008

The housing market is a mess, and mortgages are harder to get; but there are also some rare and wonderful deals on the market. Those who can come up with mortgage funds can capitalize on the unusual opportunity while it lasts, and there are a variety of ways to help fund a purchase.

Donald Trump Makes Real Estate Killing

By:: MortgageLoan.com - MortgageLoan.com | July 18, 2008

Property Tycoon, Donald Trump has defied the slump in the real estate market by selling his Florida Mansion for $100 million to a Russian billionaire.

How to Lower Closing Costs

By:: Tom Kerr - MortgageLoan.com | July 17, 2008

One of the disturbing things that came to light during recent investigations into the credit crisis is that lenders often overcharge consumers when they take out mortgages or home equity loans. Before applying for a loan, know what closing costs to expect and how to reduce or avoid them, if possible.

Keeping Your Job During a Recession

By:: Anders Bylund - MortgageLoan.com | July 17, 2008

Improve your chances of survival with a few common sense steps.

FBI Investigating Possible Fraud at IndyMac

By:: MortgageLoan.com - MortgageLoan.com | July 17, 2008

IndyMac is one of several banks being probed by the Federal Bureau of Investigation (FBI) for possible mortgage fraud, a U.S official revealed on Wednesday.

Rate Update 2008-07-16: June CPI Strong, Rates Up

By:: Paul King - MortgageLoan.com | July 17, 2008

Bonds were down this morning on stronger than expected economic data. Rates should increase by .375 to the points.

Rate Update 2008-07-17: Rates Up on Inflation Concerns in FOMC Minutes

By:: Paul King - MortgageLoan.com | July 17, 2008

Inflation concerns and a positive day for stocks have hurt bonds today. Rates will increase by about .5 to price today.

All About Mortgage Down Payments

By:: Tom Kerr - MortgageLoan.com | July 16, 2008

Buying a house sometimes hinges on the ability to come up with cash for the down payment. But larger down payments can also save consumers money. During challenging economic times, it helps to understand all the options before applying for a mortgage and buying a home.

Buying High to Sell Higher Ushered in Housing Crisis

By:: Tom Kerr - MortgageLoan.com | July 16, 2008

"Buy low and sell high" is a surefire way to make a profit. But during the recent housing run-up, homeowners tried to buy high in hopes of selling even higher. While we're still suffering from their mistakes, hopefully we can learn from them by not becoming the proverbial "Greater Fool."

How Consumers Conned Mortgage Lenders

By:: Tom Kerr - MortgageLoan.com | July 16, 2008

Borrowers who used notorious subprime loans typically paid higher mortgage rates. Many of them also misrepresented their income and assets, and lenders took their word for it. These so-called "liar loans" afforded consumers the perfect opportunity to dupe lenders.

Fed Chief Paints Bleak Economic Outlook

By:: MortgageLoan.com - MortgageLoan.com | July 16, 2008

The US economy will continue to face "numerous difficulties" with no sign of easing over the next two years was the depressing message delivered to Senators by Federal Reserve Chairman, Ben Bernanke on Tuesday.

Making Peace with Debt Collectors

By:: Greg Mischio - MortgageLoan.com | July 15, 2008

The damage has been done: You're deep in debt, and the collection agencies are calling. These people may have a harsh edge when they phone, but there are ways to make peace with a debt collector as you resolve your problems.

Helping Others Through Foreclosure

By:: Catherine Brock - MortgageLoan.com | July 15, 2008

In the new reality of home financing, the American dream has turned its back on thousands of U.S. households. Neighbors around the country are wondering how to handle the awkward situation of watching their friends pack up and leave due to foreclosure.

Home Equity Scams to Watch Out For

By:: MortgageLoan.com - MortgageLoan.com | July 15, 2008

Arming yourself with information is the best way to protect yourself from some common home equity scams.

Fed Outlines New Mortgage Rules

By:: MortgageLoan.com - MortgageLoan.com | July 15, 2008

In new mortgage rules designed to take a hard line approach against predatory mortgage practices, Federal Reserve Chairman, Ben Bernanke said the focus would be on protecting the consumers.

Rate Update 2008-07-15:PPI and Retail Sales Weak, Rates Down

By:: Paul King - MortgageLoan.com | July 15, 2008

Bonds opened higher today on economic news favorable to mortgage rates. The Dow down over 100 points currently. Rates should improve about .25 to price.

Clean Up Your Act to Avoid Debt Consolidation

By:: Greg Mischio - MortgageLoan.com | July 14, 2008

Springtime often necessitates spring cleaning. However, when it comes to finances, it can be done at any time of the year. Brooms and dustpans work great for a house, but with money management, debt consolidation is the preferred tool for common personal finance messes.

Five Ways to Get Out of the Debt Spiral

By:: Catherine Brock - MortgageLoan.com | July 14, 2008

Debt has a way of hanging around, unless you take serious action to eliminate it once and for all.

Rate Update 2008-07-14: Rates Up As Investors Digest Freddie and Fannie Crisis

By:: Paul King - MortgageLoan.com | July 14, 2008

Bonds improved today on stock market losses. However mortgage rates should increase by about .25 to price as a result of investors concerns over the plight of Freddie Mac and Fannie Mae.

Mortgage Smarts: The Home Ownership and Equity Protection Act

By:: Catherine Brock - MortgageLoan.com | July 13, 2008

The Home Ownership and Equity Protection Act targets predatory lending practices.

A Tale of Three Cities: The Worst Places to Retire

By:: Barbara Eisner Bayer - MortgageLoan.com | July 13, 2008

Choosing where to retire may be the most important decision you'll ever make. Take time to study the possibilities, and you'll never need to look back.

Car Maintenance: Reduce Those Pesky Bills

By:: MortgageLoan.com - MortgageLoan.com | July 13, 2008

A little maintenance goes a long way. There are simple things that you can do to extend the life of your car and save money on gas, too.

Credit Cards: It's All in the Details

By:: Greg Mischio - MortgageLoan.com | July 13, 2008

"Gotcha" seems to be the business model for credit card companies these days. As more and more purveyors of plastic make their money off fees and interest charges, it's important to be mindful of the fine print in your credit card agreement. Take a close look; you'll find that the devil may be literally in the details.

IndyMac Collapses amidst Financial Crisis

By:: MortgageLoan.com - MortgageLoan.com | July 13, 2008

IndyMac Bank becomes the second largest financial institution to fall in U.S history as it succumbed to the pressures of the credit crunch. Risky lending practices also contributed to the bank's demise.

How to Hire a Tax Professional

By:: Catherine Brock - MortgageLoan.com | July 12, 2008

Everyone outgrows the 1040EZ and tax preparation software sometime. When that moment arrives, you'll need to know what to look for in a tax professional.

Be Tax Savvy When Selling Home

By:: Catherine Brock - MortgageLoan.com | July 12, 2008

The IRS gives you the opportunity to sell your home and earn tax-free capital gains; but calculating your gain exclusion might be tricky.

The Best Places to Retire

By:: Barbara Eisner Bayer - MortgageLoan.com | July 12, 2008

Where you choose to live during your post-working days will greatly influence the success of your retirement years. Here are three of the best cities to hang your hat when your coat hook is no longer at the office.

Rising Rates May Spur Refinancing Surge

By:: Tom Kerr - MortgageLoan.com | July 11, 2008

Conventional wisdom tells us that when interest rates fall, people tend to refinance in order to capture them. But refinancing has also historically spiked when rates turn upward, because people don't want to miss the chance to lock in attractive rates that may soon slip away.

Top Resources for Refinancing Help

By:: Catherine Brock - MortgageLoan.com | July 11, 2008

Don't head into a refinance without knowing the territory. Get organized with this list of resources that can help you prepare.

College Savings Options for Kids

By:: MortgageLoan.com - MortgageLoan.com | July 11, 2008

One day, your little one will be all grown up and heading for college. Make sure that your whole family gets on the same team when saving for higher education. Here are some strategies to building a financial game plan so that your child can get his degree without worrying about money.

Foreclosures up 53 percent

By:: MortgageLoan.com - MortgageLoan.com | July 11, 2008

Foreclosures jumped 53 percent in June from a year earlier, a report published by a California research firm revealed on Thursday.

Rate Update 2008-07-11:Rates Steady on Senator Dodd's Assurance that Fannie and Freddie are Stable

By:: Paul King - MortgageLoan.com | July 11, 2008

Bonds were up today despite the fact that the stock markets are down.

Friendly Endings: Collaborative Divorce

By:: Anders Bylund - MortgageLoan.com | July 10, 2008

Divorce can be ugly, expensive, and time consuming. Then again, it doesn't have to be any of these things.

Getting to Know Your Spouse's Finances

By:: Greg Mischio - MortgageLoan.com | July 10, 2008

You and your spouse are supposed to stick together in sickness and in health, in good times and in bad. Considering those parameters, it would probably behoove you to thoroughly understand each other's finances.

Mortgage Application Volumes up Last Week

By:: MortgageLoan.com - MortgageLoan.com | July 10, 2008

Mortgage application volumes experienced a 7.5 percent increase last week, according to a survey by the Mortgage Bankers Association (MBA). This is a clear indication that falling home prices are attracting some buyers.

No Bank Mortgage? Try a Person!

By:: Tom Kerr - MortgageLoan.com | July 09, 2008

Traditional lenders have tightened credit in order to offset losses related to the mortgage crisis. As a result, many consumers are now turning to non-traditional sources for money. Online networks of individual lenders with downloadable loans are suddenly coming into vogue.

Mortgage Crisis Changing Reality TV

By:: Catherine Brock - MortgageLoan.com | July 09, 2008

A changed reality of volatile mortgage rates and low demand in the real estate world is seeping its way into reality television.

Cut Your Insurance Bill

By:: Greg Mischio - MortgageLoan.com | July 09, 2008

Next to car loans and the escalating price of fuel, one of your biggest auto expenditures will be your insurance bill. Fortunately, there are some simple ways you can make a big dent in the cost.

Schwarzenegger Signs Foreclosure Relief Bill

By:: MortgageLoan.com - MortgageLoan.com | July 09, 2008

California Governor Arnold Schwarzenegger has signed a bill designed to stem the tide of foreclosures in the state.

Rate Update 2008-07-09: Rates Flat Again Wednesday

By:: Paul King - MortgageLoan.com | July 09, 2008

Bonds were trading flat again on Wednesday, however mortgage rates will improve as much as .375 to price as a result of strength in Tuesday afternoon trading.

Five Tips for Finding the Best Realtor

By:: Tom Kerr - MortgageLoan.com | July 08, 2008

Choose your realtor well and you can save time, money, and headaches. You might even sell a home for a better price, get a smarter mortgage, or find the home of your dreams at a dreamier price. But success hinges on your ability to find the best person for the job.

How to Read a Real Estate Appraisal

By:: Tom Kerr - MortgageLoan.com | July 08, 2008

These days, the market value of homes is in constant flux. Homeowners who want to refinance, take out equity loans, or verify their assets need to rely on updated appraisal information. Understanding this data requires knowledge of how to read an appraisal report.

US Apartment Market Stable in Q2

By:: MortgageLoan.com - MortgageLoan.com | July 08, 2008

Increasing fuel costs helped stabilize the US apartment market, with major cities experiencing a growing demand for rental accommodation in close proximity to where people work, Reis Inc reported on Saturday.

Fannie and Freddie Shares Plunge

By:: MortgageLoan.com - MortgageLoan.com | July 08, 2008

Shares in Fannie Mae and Freddie Mac experienced their sharpest drop in 16 years on Monday amid fears the government backed enterprises may be forced to raise as much as $75 billion in additional capital.

Rate Update 2008-07-08: Rates Flat; Stocks and Earnings Reports Focus

By:: Paul King - MortgageLoan.com | July 08, 2008

Bonds were flat again on Tuesday in anticipation of corporate earnings.

All By Yourself: Sell Your Home without a Broker

By:: Greg Mischio - MortgageLoan.com | July 07, 2008

In a declining real estate market, anyone selling a home is desperately trying to squeeze home equity dollars out of a sale. More sellers are deciding to be their own brokers-a bold move that has equal amounts of risks and rewards.

Insurance and Your Second Home

By:: Greg Mischio - MortgageLoan.com | July 07, 2008

A second home is not necessarily "home sweet home" when it comes to homeowner's insurance. With house number two, you'll discover the need for more insurance, priced at a higher cost than the premium for house number one. How much higher depends on how closely you follow these money saving tips.

REITS Right Back in Style

By:: Anders Bylund - MortgageLoan.com | July 07, 2008

REIT funds are back in fashion. Should your portfolio dress up in real estate instruments, too?

Rate Update 2008-07-07: Bonds Flat, Possibly a Quiet Week for Rates

By:: Paul King - MortgageLoan.com | July 07, 2008

Bonds opened flat Monday on no economic news. Rates should increase by .25 to price today on Thursday afternoon weakness.

Understanding the Alternative Minimum Tax

By:: Catherine Brock - MortgageLoan.com | July 06, 2008

As if figuring your taxes once wasn't complicated enough, the IRS makes you run another set of numbers with the alternative minimum tax (AMT).

All About Graduated Payment Mortgages

By:: Catherine Brock - MortgageLoan.com | July 06, 2008

The graduated payment mortgage is poised to make a comeback as borrowers and lenders seek financing solutions that ease the financial strain of buying a home.

Credit Crisis Spills into Every Nook and Cranny

By:: Tom Kerr - MortgageLoan.com | July 06, 2008

The epidemic of bad mortgage credit that was once isolated to the housing industry is now threatening to adversely influence the ability to borrow money for a variety of other consumer loans, including those for debt consolidations, autos, and credit card purchases.

Bankruptcy and Mortgages

By:: Catherine Brock - MortgageLoan.com | July 06, 2008

Politicians are pushing for amendments to bankruptcy legislation in an effort to help borrowers in distress keep their properties.

Student Loan Alternative: Peer-to-Peer Lending

By:: Catherine Brock - MortgageLoan.com | July 05, 2008

Even as home equity loans are disappearing, students still have options for college financing.

Americans Abroad: The Skinny on Paying Taxes

By:: Catherine Brock - MortgageLoan.com | July 05, 2008

You may be living abroad, but you're still under Uncle Sam's thumb. Get the lowdown on what you should be paying in taxes.

Teach Your Children Well About Investing

By:: Catherine Brock - MortgageLoan.com | July 05, 2008

Teach your kids about investing and give them a head start for wealthy future.

Credit Cards: You're Protected!

By:: Greg Mischio - MortgageLoan.com | July 05, 2008

Credit cards are everywhere, thanks to widespread acceptance by vendors, and consumer-enticing rewards programs. This ubiquity, however, has attracted a criminal threat. Fortunately, there are laws to protect credit card holders.

Building Healthy Savings Habits in Children

By:: Anders Bylund - MortgageLoan.com | July 04, 2008

It's never too early for kids to learn how to handle money. Make it a game now, and they'll be ready to play the money game when it's time to enter the real world.

Understanding Mortgage Fraud

By:: Greg Mischio - MortgageLoan.com | July 04, 2008

Magicians earn applause by performing card tricks or pulling rabbits out of their hats. Anyone who tries to pull a fast one with a mortgage, however, earns prison time. Here are some examples of mortgage fraud that occur every day.

Refinancing to Acquire Rental Properties

By:: Tom Kerr - MortgageLoan.com | July 04, 2008

Cash is king during a recession, and those who have money to buy today's depressed income-producing properties are laughing all the way to the bank. To get investment capital, many are turning to refinancing strategies.

Celebrate July 4th: Enjoy Government Tax Perks

By:: Greg Mischio - MortgageLoan.com | July 04, 2008

As Independence Day draws close, Americans have much to celebrate. Besides our personal freedoms and high ideals, we also have many government-based incentives to help us build our own financial independence.

Housing Rescue Slows as Foreclosures Increase

By:: MortgageLoan.com - MortgageLoan.com | July 04, 2008

With lenders on the back foot following mounting criticism over their sluggish attempts to quell the rising tide of foreclosures, new figures from Hope Now, show its members helped roughly 170,000 homeowners avoid foreclosure in May. The figure however is a 7 percent drop from April's figure of 183,000.

Four Traits of a Good Mortgage Broker

By:: Greg Mischio - MortgageLoan.com | July 03, 2008

A mortgage is the biggest investment most people will ever make. If you're going to use a mortgage broker for such an important transaction, be sure that you're working with the best. Here are some distinctive traits of the top mortgage brokers.

Four Ways to Cut Life Insurance Costs

By:: Greg Mischio - MortgageLoan.com | July 03, 2008

As the economy continues to stagnate, the nation is looking for ways to tighten its collective belt. One place you can free up a few bucks is your life insurance policy. While this type of insurance is an essential part of any financial plan, there are ways that you can cut your costs.

Mortgage Application Volumes Rise

By:: MortgageLoan.com - MortgageLoan.com | July 03, 2008

Weekly mortgage applications in the U.S rebounded in the week ended June 27, figures from the Mortgage Bankers' Association (MBA) revealed on Wednesday. The figure is a 3.6 percent week-over-week increase in applications.

Rate Update 2008-07-03: June Employment Data Fails to Shock, Rates Flat

By:: Paul King - MortgageLoan.com | July 03, 2008

Bonds were down today after the June Employment Report failed to deliver the market any surprises. Rates should stay the same today.

Scarce Solutions for the Home Equity Loan Freeze

By:: Tom Kerr - MortgageLoan.com | July 02, 2008

As summer swelters across the U.S., so does the credit crunch. Many banks are putting home equity loans and HELOCs in the deep freeze, locking down home equity credit. Homeowners trying to continually tap their home equity now have severely limited options and solutions.

Sellers Crying Wolf As Mortgage Rates Threaten to Rise

By:: Tom Kerr - MortgageLoan.com | July 02, 2008

Sellers are finally relenting and getting realistic about pricing, so it's definitely a buyer's market. But mortgage rates may soon rise to help the nation fight off inflation. Buy now before it's too late to enjoy the best of both worlds.

Jazz Legend Avoids Foreclosure

By:: MortgageLoan.com - MortgageLoan.com | July 02, 2008

Renowned jazz vocalist, Ernestine Anderson has been able to stave off the threat of foreclosure - for now.

Rate Update: 2008-07-02: Rates Down in Anticipation of June Employment Report

By:: Paul King - MortgageLoan.com | July 02, 2008

Rates were down again on concerns over the state of the economy and worries about the June Employment report.

FHA Loans for Purchase or Refinance

By:: Catherine Brock - MortgageLoan.com | July 01, 2008

The FHA is more flexible than you might think, offering a complete set of mortgage loans to serve a variety of situations.

Stalk and Capture Profitable Foreclosures: Five Ideas

By:: Tom Kerr - MortgageLoan.com | July 01, 2008

Foreclosure hot spots are springing up throughout the nation. For some investors, they're as valuable as oil wells. Making money on foreclosures, or buying them as affordable housing, is easier in 2008, but a big part of the challenge is finding them before others stake their own claims.

Changing Climate of Home Equity Borrowing

By:: Tom Kerr - MortgageLoan.com | July 01, 2008

Trends in home equity borrowing during the past two decades have been dramatic; within the past two years, home equity loans have been on a virtual roller coaster ride. Just a year ago, homeowners were relying on them as ATM machines. Now, banks are yanking them from their product menus.

Florida sues Countrywide

By:: MortgageLoan.com - MortgageLoan.com | July 01, 2008

Florida has joined the increasing number of states to take action against Countrywide, with Florida Attorney General, Bill McCollum filing the lawsuit against the mortgage lender for predatory lending practices.

Rate Update 2008-07-01: ISM Results Stronger Than Expected; Yet Bonds Still Rise

By:: Paul King - MortgageLoan.com | July 01, 2008

Bonds were up today regardless of reported stronger than expected economic news. However rates will not change today due to weakness from Monday afternoon trading.

Lose your credit card? What to do next

By:: MortgageLoan.com - MortgageLoan.com | June 30, 2008

It's a moment that can lead to panic: reaching for your credit card to make a purchase, and realizing that it's gone. Thanks to federal laws and a quick call to the credit card company, losing your plastic doesn't have to cost an arm and a leg.

Four Ways to Get Out of Debt

By:: MortgageLoan.com - MortgageLoan.com | June 30, 2008

Debt can build up over time without anyone noticing. First there's a credit card and a mortgage, then a car loan. Before you know it, you can't pay your monthly bills. If you're feeling "out of shape" when it comes to credit, here are some ways to end your cycle of debt.

Structuring a Debt Consolidation Program

By:: MortgageLoan.com - MortgageLoan.com | June 30, 2008

Debt consolidation programs have helped countless individuals escape the diabolical clutches of debt. If you find yourself deep in the red, here are some simple ways to begin the journey back into the black.

Five Indicted in Alleged Mortgage Fraud

By:: MortgageLoan.com - MortgageLoan.com | June 30, 2008

A federal grand jury has indicted five people on federal charges of conspiracy to commit bank fraud and other crimes tied to an alleged mortgage fraud scheme.

Rate Update 2008-06-30: July 4th Holiday Week Starts With Rates Flat

By:: Paul King - MortgageLoan.com | June 30, 2008

Monday bonds have been flat, however rates should improve today by about .375 to price due to strength from Friday's trading.

Minimizing Healthcare Costs By Maximizing First Dollar Coverage

By:: Catherine Brock - MortgageLoan.com | June 29, 2008

A study released in late 2007 indicates that a majority of high deductible health plans that are compatible with health savings accounts (HSAs) are footing the bill for preventative care.

Investing Tip: Forget the Market…Buy Art!

By:: Catherine Brock - MortgageLoan.com | June 29, 2008

If the stock market's ups and downs are driving you crazy, consider investing in timeless masterpieces.

No Elation for Stagflation

By:: Anders Bylund - MortgageLoan.com | June 29, 2008

Going against the herd can turn bad times good again.

New FHA Jumbo Loans to the "Refi" Rescue

By:: Tom Kerr - MortgageLoan.com | June 28, 2008

Jumbo mortgages are larger-than-normal mortgages that are used to pay for, or refinance, higher-cost homes. The Federal Housing Administration (FHA) began insuring these big loans this year, at least on a temporary basis, as part of the government's much-touted economic stimulus package.

Second Mortgages: Making A Bad Situation Worse

By:: Tom Kerr - MortgageLoan.com | June 28, 2008

Second mortgages came into vogue in a powerful way during the past few years, as borrowers were encouraged by their lenders to use them in lieu of the traditional down payment. But now, the rules have changed, and homeowners are being pushed from the skillet into the open fire.

Financing Perks for Car Buyers

By:: Greg Mischio - MortgageLoan.com | June 28, 2008

Automakers, particularly American ones, are feeling the pinch of a sluggish economy and sky-high gas prices. To help break free from their sales funk, many are offering zero- or low-interest rate financing, or cash rebates. With a little bit of number crunching, you can determine which financing perk works best for you.

Helping Your Adult Child Overcome Debt

By:: Anders Bylund - MortgageLoan.com | June 27, 2008

Your grown kids have fallen into debt and may need your financial help. Or do they?

Personal Finance Document Guide

By:: Catherine Brock - MortgageLoan.com | June 27, 2008

It's time for a reality check on life's most important documents. Find out which documents you need to have and why.

Countrywide Sued By States Over Lending Practices

By:: MortgageLoan.com - MortgageLoan.com | June 27, 2008

Countrywide Financial, the mortgage lender that lost $2.5 billion amid rising defaults and foreclosures as well as being widely blamed for worsening the U.S housing crisis through discriminatory lending has been sued by California and Illinois.

Rate Update 2008-06-27: Stock Weakness Persists, Rates Down

By:: Paul King - MortgageLoan.com | June 27, 2008

Bonds were up again as stock market weakness persisted today. Rates should improve by .125 to price.

Six Reasons to Get a Long-Term Mortgage

By:: Greg Mischio - MortgageLoan.com | June 26, 2008

As much as home ownership is the American Dream, owing money on a home loan is perceived by many as the American Nightmare. Yet, despite the thousands of dollars you'll spend on interest payments, there are some benefits to a long-term mortgage.

Four Repairs For A Broken Budget

By:: Anders Bylund - MortgageLoan.com | June 26, 2008

The road to broken budget plans is paved with good intentions.

Mortgage Application Volumes Continue To Fall

By:: MortgageLoan.com - MortgageLoan.com | June 26, 2008

Mortgage application volumes fell 9.3 percent in the week ended June 20, according to the Mortgage Bankers Association's (MBA) weekly application survey. Overall applications were down 25.3 percent compared with the same week in 2007.

Rate Update 2008-06-26: Rates Down On Stock Woes

By:: Paul King - MortgageLoan.com | June 26, 2008

Bonds were up today as stock markets took a beating on fear of continuing problems in the banking sector. Mortgage rates should improve by .25 to price.

Become a Stellar Mortgage Applicant

By:: Catherine Brock - MortgageLoan.com | June 25, 2008

You have an edge in getting that loan approval when you know what lenders are looking for in your loan application.

Creative Strategies for Generating Down Payments

By:: Tom Kerr - MortgageLoan.com | June 25, 2008

With home prices a relative bargain, and builders willing to throw in valuable upgrades for free, buyers are eager to raise enough cash to close the deal. But lenders are requiring bigger down payments, so borrowers are adopting some creative methods for raising the necessary funds.

Could Falling Home Prices Be Good?

By:: Tom Kerr - MortgageLoan.com | June 25, 2008

As the majority calls for price supports and taxpayer-funded bailouts to support the falling housing market, some think it's better to let prices fall. They believe that this would finally deflate the bubble that started the trouble in the first place. At least then we would have appropriately priced housing.

Home Prices Fall at Record Rate

By:: MortgageLoan.com - MortgageLoan.com | June 25, 2008

US home prices experienced an unprecedented slide in April since the S&P/Case-Shiller home price index began in 2000 with every top metropolitan area now posting annual losses and a sizeable percentage of them showing double -digit decline.

Rate Update 2008-06-25: Fed Makes No Change to Key Interest Rates

By:: Paul King - MortgageLoan.com | June 25, 2008

The FOMC finished this afternoon with the announcement from the Fed that there would be no change to key short term interest rates.

Finding Funds for Second Home

By:: Catherine Brock - MortgageLoan.com | June 24, 2008

Take a break from daydreaming about leisurely vacations in your Hawaii condo, and start researching your options for financing that second home.

Tapping Equity in a Mortgage-Free Home

By:: Tom Kerr - MortgageLoan.com | June 24, 2008

The equity accumulated in a home can be a convenient source of income, particularly for homeowners who have paid off their mortgages. Before accessing that value, however, it's important to analyze one's particular financial situation and evaluate various equity tapping options.

Mortgage Brokers Spend Big on Lobbying

By:: MortgageLoan.com - MortgageLoan.com | June 24, 2008

With Brokers under increasing scrutiny over their role in the housing crisis, the National Association of Mortgage Brokers (NAMB) reported that the organization spent more than $480,000 lobbying in the first quarter.

Rate Update 2008-06-24: Consumer Confidence at Lowest Level Since February 1992

By:: Paul King - MortgageLoan.com | June 24, 2008

Bonds were up today on weaker than expected economic data. The stock markets are also down, and rates will likely improve by at least .125 to price.

Understanding Debt Compulsion

By:: Greg Mischio - MortgageLoan.com | June 23, 2008

In this spend-first, plan-later society, it's easy to slip into debt. Knowing the reasons why people head down that slippery slope could help you avoid a similar fate.

Debt Consolidation: Now's the Time

By:: Catherine Brock - MortgageLoan.com | June 23, 2008

All indications are that low-rate debt consolidation loans may disappear in the foreseeable future. If you're thinking about consolidating, consider putting the wheels in motion sooner rather than later.

Foreclosure Fraud Protection

By:: MortgageLoan.com - MortgageLoan.com | June 23, 2008

Every budget is stretched to the max these days, and it's easy to fall behind on your mortgage. Don't let the stress of possible foreclosure cloud your judgment. You could fall prey to foreclosure fraud.

Mortgage Rates Rise Fuel Housing Fears

By:: MortgageLoan.com - MortgageLoan.com | June 23, 2008

Rates on home mortgages continued their upward march this week amidst inflation concerns to their highest point since September. While some see the rise as an incentive to dive into the already murky housing markets, others believe this could do further damage to the housing market.

Rate Update 2008-06-23: Week Focused on FOMC, Consumer Confidence Reading

By:: Paul King - MortgageLoan.com | June 23, 2008

Stocks were down, Bonds were up today, with mortgage rates increasing by about .125 to price today as a result of weakness from Friday afternoon trading.

Callable CDs: Are They Right For You?

By:: Catherine Brock - MortgageLoan.com | June 22, 2008

Callable CDs offer higher rates than traditional CDs; but before you pounce, know the risks.

Financing an Education Abroad

By:: Greg Mischio - MortgageLoan.com | June 22, 2008

As tuition costs at universities increase at double-digit rates, and college loans are getting more costly, students and parents are frantically looking for new ways to finance university degree. One method that's growing in popularity is choosing an education abroad.

Pointers for Using Credit Card Points

By:: Greg Mischio - MortgageLoan.com | June 22, 2008

The smart credit card holder gets all the rewards. These bonuses yield some tremendous benefits, provided that you use your points correctly. Here's how to get the most out of them.

College Tax Breaks That Won't Break Your Back

By:: Catherine Brock - MortgageLoan.com | June 21, 2008

Four education-related tax breaks take some of the bite out of those crushing college expenses.

Finding Mortgages for Bad Credit Borrowers

By:: Catherine Brock - MortgageLoan.com | June 21, 2008

Credit troubles mean mortgage troubles, because it's not that easy to find home financing when your credit score is low.

Three Tips for Selling a Used Car

By:: Greg Mischio - MortgageLoan.com | June 21, 2008

A stagnant economy has caused a drop in new car sales, and made the used car market more competitive. If you're considering that old jalopy, here are some essential tips.

Second Mortgage HELOCs: Don't Forget the Principal

By:: Catherine Brock - MortgageLoan.com | June 20, 2008

HELOC second mortgages are often structured with interest-only payments, but that convenience doesn't last forever.

College Savings Plans: Know the Differences

By:: Catherine Brock - MortgageLoan.com | June 20, 2008

Education savings plans offering tax breaks ease the burden of saving for your child's college education.

FBI Cracks Down on Mortgage Fraud

By:: MortgageLoan.com - MortgageLoan.com | June 20, 2008

The FBI on Thursday announced that it had charged over 400 individuals with mortgage fraud since the beginning of March as part of a nationwide crackdown on questionable mortgage practices that stem from the country's housing crisis.

Rate Update 2008-06-20: Rates Down Despite Inflation Indications

By:: Paul King - MortgageLoan.com | June 20, 2008

Rates were down today as stocks took a tumble in trading today and bonds rose.

Surviving A Layoff

By:: Anders Bylund - MortgageLoan.com | June 19, 2008

If you lose your job due to downsizing, don't worry-as one step in your career path ends, the next one is coming up.

Creative Ways to Abandon Your Mortgage

By:: Tom Kerr - MortgageLoan.com | June 19, 2008

Homeowners who tried refinancing, but were rejected because they owed more than their homes were worth, may be ready to walk away and abandon their mortgages altogether. Desperate times call for desperate measures, and that has given rise to some novel and offbeat strategies.

Refinancing: Reduce Those Pesky Fees

By:: Tom Kerr - MortgageLoan.com | June 19, 2008

People who are refinancing home loans are advised to scrutinize the closing costs. Study the settlement statement, and object to any fees that are not warranted or justified. While the interest rate may get the most attention, other small details can add up to a significant amount of money.

US Mortgage Applications Index Fall

By:: MortgageLoan.com - MortgageLoan.com | June 19, 2008

Mortgage application volumes fell to 8.7 percent during the week ended June 13 after mortgage rates jumped to its highest level in eight months according to the Mortgage Bankers Association (MBA) weekly application survey.

Rate Update 2008-06-18: Rates Up Despite Stock Weakness

By:: Paul King - MortgageLoan.com | June 19, 2008

Mortgage rates were again down Wednesday despite stock market weakness. Rates should improve by .25 to price today.

Rate Update 2008-06-19: Leading Economic Indicators Forecasts Better than Expected

By:: Paul King - MortgageLoan.com | June 19, 2008

Bonds were down on Thursday as stocks started to rise in trading today. However, rates should improve about .125 to price, due to strength in bonds from yesterday PM.

Four Strategies for Lowest Mortgage Rates

By:: Greg Mischio - MortgageLoan.com | June 18, 2008

If you've had some credit problems in the past, you probably won't qualify for a lender's best mortgage rate. But there are some proven strategies you can follow to get the best mortgage rate possible for your personal situation.

Steps to Avoid Identity Theft

By:: Greg Mischio - MortgageLoan.com | June 18, 2008

The Internet has opened up amazing new worlds of communication and commerce. It's also created new opportunities for criminals, particularly in the realm of identity theft. You need to take essential steps to keep yourself protected.

Starting Your Business During A Recession

By:: Anders Bylund - MortgageLoan.com | June 18, 2008

It was the best of times, it was the worst of times-to start a small business.

Mortgage Lenders Pledge Quick Response

By:: MortgageLoan.com - MortgageLoan.com | June 18, 2008

Much maligned mortgage companies have promised to respond to beleaguered borrowers within 45 days, so as to help stem the increase in foreclosures.

Four Tips To Sell Your Home Now

By:: Catherine Brock - MortgageLoan.com | June 17, 2008

With the current real estate market favoring buyers, it's harder than ever to sell your home. If you're serious about wanting to sell, here's a look at what you may have to do to get the deal done.

Protect Yourself from Predatory Lending

By:: Tom Kerr - MortgageLoan.com | June 17, 2008

Predatory lending reached epidemic proportions within the past decade, as ongoing investigations into the current mortgage crisis reveal. To protect yourself from unscrupulous lenders, it's important that you arm yourself with updated knowledge and insightful information.

Mortgage Servicers Slow at the Wheel

By:: Tom Kerr - MortgageLoan.com | June 17, 2008

Officials in Washington and in the lending industry have touted joint efforts to help distressed homeowners refinance away from foreclosure. But if you plan to refinance or otherwise rework your loan, be prepared for a long and sometimes frustrating wait.

MGIC Agrees Reinsurance Pact

By:: MortgageLoan.com - MortgageLoan.com | June 17, 2008

MGIC Investment Corp, the largest U.S mortgage insurer on Monday said it will receive up to $50 billion a year of coverage on newly written insurance policies under a reinsurance agreement reached with HCC Insurance Holdings Inc.

Rate Update 2008-06-17: Rates Improve on Weak Economic Data

By:: Paul King - MortgageLoan.com | June 17, 2008

Bonds were up on favorable news for mortgage rates. Rates should improve by .25 to price today.

Debt Consolidation: Is It Worth The Risk?

By:: Catherine Brock - MortgageLoan.com | June 16, 2008

The promise of debt consolidation is compelling-but don't get lulled into ignoring the risks.

FHA Closing Costs: An Overview

By:: Catherine Brock - MortgageLoan.com | June 16, 2008

All your attention may be on the low rate you're getting on that FHA loan, but don't forget to make arrangements to cover your closing costs.

HELOCs: Find The Hidden Fees

By:: Greg Mischio - MortgageLoan.com | June 16, 2008

Life is all about taking the good with the bad. With a home equity line of credit (HELOC), just make sure that your mortgage has more good than bad when you're comparing potential lenders.

Homes Lost to Foreclosure Experience Sharp Rise

By:: MortgageLoan.com - MortgageLoan.com | June 16, 2008

The housing climate received another setback in May, as more than 73,000 homes were lost to bank repossessions in the month of May. It's an increase of 158 percent from the same period last year, when 28,548 homes were dispossessed.

Rate Update 2008-06-16: Tomorrow's PPI Report Anticipated

By:: Paul King - MortgageLoan.com | June 16, 2008

Bonds were up on Monday with no relevant economic news and a mixed stock market. Rates will increase today by approximately a quarter to price due to weakness from Friday.

Freeing Yourself From Credit Cards

By:: Greg Mischio - MortgageLoan.com | June 15, 2008

If you're parting ways with your beloved credit card, you should know that there's more to the process than simply snipping the card in two with a pair of scissors. You'll need to follow a few steps to cancel your card the right way.

Want Lower Credit Card Rates? Learn to Negotiate!

By:: Greg Mischio - MortgageLoan.com | June 15, 2008

Large financial institutions strike fear into the hearts of most consumers. They shouldn't. Credit card companies, for example, are no different than any other vendor, and you should negotiate with them to get your best rate.

Tax Tips for the Self-Employed

By:: Catherine Brock - MortgageLoan.com | June 14, 2008

Self-employment offers you the freedom to work when you want, and the potential to earn more money than in a salaried job. It also offers the burden of paying your own taxes.

Small Car, Big Value: Beating the Gas Challenge

By:: Greg Mischio - MortgageLoan.com | June 14, 2008

Could the day of reckoning be at hand for gas guzzlers? The current price tag at the pump seems to indicate that times have changed drastically in the auto world.

Tax Savvy: Use a Non-Deductible IRA

By:: Catherine Brock - MortgageLoan.com | June 14, 2008

A tax law passed in 2006 adds a lot of appeal to non-deductible IRA contributions-just don't wait too long to take advantage of it.

Remodeling? First Hire an Appraiser

By:: Tom Kerr - MortgageLoan.com | June 13, 2008

Homeowners thinking of remodeling to boost the value of their property may want to first hire a professional appraiser to look at the home improvement plans. The appraiser can do a market appraisal and demonstrate "before and after" values. Having that information can help avoid costly mistakes while guiding decisions to ensure that you get maximum equity from a project.

Five Great Ways to Save For College

By:: Greg Mischio - MortgageLoan.com | June 13, 2008

The volatility of the stock market has not only raised fear among future retirees, it's also affected parents saving for their kids' college educations. With tuition costs rising through the roof, you'll need to save wisely if you're going to cover these costs.

Stimulate The Economy With Your Stimulus Check

By:: Greg Mischio - MortgageLoan.com | June 13, 2008

The American consumer is currently receiving a heaping windfall, courtesy of Uncle Sam. But the key to making the economic stimulus plan work will be to spend the checks on "Made in the USA" products.

Are Brokers to Blame for Bad Credit Mortgage Crisis?

By:: Tom Kerr - MortgageLoan.com | June 13, 2008

The entire country is suffering from an economic crisis of historically huge proportions, and most of the trouble can be linked to "bad credit" mortgages. Everyone is blaming someone else, but mortgage brokers are the biggest targets.

Fixed Rate Mortgages at 8-month high

By:: MortgageLoan.com - MortgageLoan.com | June 13, 2008

Interest rates for 30-year, fixed-rate mortgages increased to an 8-month high of 6.32 percent with an average 0.7 point for the week ending June 12, Freddie Mac announced on Thursday.

Rate Update 2008-06-13: Bonds Rise at Week's End

By:: Paul King - MortgageLoan.com | June 13, 2008

After a several days of decline, bonds on Friday rose, despite stock market gains. However, we'll still see higher mortgage rates, as a result of weakness from yesterday afternoon trading, by about .25 to the points.

Retirement Savings In Rough Markets

By:: Anders Bylund - MortgageLoan.com | June 12, 2008

Two words: don't panic.

Be On Guard for Medical Insurance Scams

By:: Greg Mischio - MortgageLoan.com | June 12, 2008

Medicare's new programs were supposed to make prescription drugs more affordable for seniors. Instead, they've ushered in a whole new wave of scam artists.

Guide To Finding Best Refinance Rates

By:: Catherine Brock - MortgageLoan.com | June 12, 2008

The time to refinance is when rates have dropped enough to save you money. The harder question to answer is: how do you know when the rates have dropped enough so you can do just that?

Mortgage Application Volumes Rise

By:: MortgageLoan.com - MortgageLoan.com | June 12, 2008

Mortgage applications in the U.S. rose from their lowest level in six years by 10.6 percent week by week, according to a survey conducted by the Mortgage Bankers Association (MBA).

Mortgage Hunting? Know Your Lender

By:: Catherine Brock - MortgageLoan.com | June 11, 2008

If you've already started searching for a mortgage-stop! There are some folks you need to meet first.

How Mortgage Rates Affect Spending Power

By:: Tom Kerr - MortgageLoan.com | June 11, 2008

When mortgage rates fluctuate, it has an impact on other aspects of the monetary system and economy not directly related to the housing market or mortgage industry. How changes in rates play a role in our spending power is of critical importance.

Choosing a Recession-Proof Career

By:: Anders Bylund - MortgageLoan.com | June 11, 2008

Some jobs are always safe, even in times of economic turmoil. Maybe one of them should be in your future.

Obama Adviser Under Fire Over Mortgage Deals

By:: MortgageLoan.com - MortgageLoan.com | June 11, 2008

Republican presidential nominee, John McCain has criticized his Democratic rival for seeking Campaign advice from former Fannie Mae CEO, Jim Johnson, who the Republicans believe may have improperly received preferential treatment from a controversial mortgage lender.

Rate Update 2008-06-11: Fed Beige Book Shows Weak Economic Conditions

By:: Paul King - MortgageLoan.com | June 11, 2008

The Fed reported late yesterday that economic conditions continue to be "generally weak" throughout the US, according to their Beige Book report from April and May.

HELOC Suspension Shock

By:: Tom Kerr - MortgageLoan.com | June 10, 2008

Several banks, reluctant to lend because of recent losses, now want ironclad reassurance that they'll be repaid. Many are suspending certain kinds of loans, including popular home equity lines of credit (HELOCs). If they do extend lines of credit, they're demanding higher ratios of underlying collateral, steeper fees and interest rates, and much more proof of credit and income.

Increase Your Home's Equity By Going Green

By:: Catherine Brock - MortgageLoan.com | June 10, 2008

Incorporating eco-friendly features into your home raises its value and, at the same time, decreases your cost of living.

Find Financial Freedom with Bi-Weekly Payment Plans

By:: Tom Kerr - MortgageLoan.com | June 10, 2008

Bi-weekly payment plans are a smart way to pay off your mortgage early, and they're generally easy to set up by yourself. With this clever arrangement, you pay no more than usual, but can save thousands of dollars during the life of a typical mortgage.

Pending Home Sales up 6.3 percent

By:: MortgageLoan.com - MortgageLoan.com | June 10, 2008

According to the Pending Home Sales Index released on Monday by the National Association of Realtors, the number of homes under contract to be sold rose to their highest level in six months in April as buyers went bargain hunt.

Rate Update 2008-06-10: Fed Hints At Rate Hike, Rates Rise

By:: Paul King - MortgageLoan.com | June 10, 2008

Bonds were down today on inflation concerns. Stocks were up slightly and mortgage rates should rise by as much as .5 to the price.

Use Your Rebate for Debt Reduction

By:: Catherine Brock - MortgageLoan.com | June 09, 2008

The U.S. economic stimulus checks are on their way, and many taxpayers have already decided to use theirs to pay down debt.

A Guide to Finding Foreclosures

By:: Tom Kerr - MortgageLoan.com | June 09, 2008

Buyers who know how to find foreclosure listings are enjoying a wonderfully diverse selection of bargain properties. Learn to spot these undervalued houses and you may get an exceptionally good deal on an affordable home.

How Foreclosures Work

By:: Catherine Brock - MortgageLoan.com | June 09, 2008

Recent increases in defaulted mortgage loans may present opportunities for homebuyers looking for deals, but purchasing a foreclosed home can be a touchy situation.

Fed Greenlights Bank of America - Countrywide Merger

By:: MortgageLoan.com - MortgageLoan.com | June 09, 2008

The Federal Reserve has given the Bank of America permission to buy subprime lender, Countrywide Financial Corp.

Rate Update 2008-06-09: Rates Up on Inflation Concerns

By:: Paul King - MortgageLoan.com | June 09, 2008

Bonds were down Monday as investors looked for inflation safe investment alternatives.

Say Goodbye To Low Taxes

By:: Catherine Brock - MortgageLoan.com | June 08, 2008

A look back in time reminds us that today's tax rates are historically low. Could those percentages start creeping up in the future?

Save Money on Car Insurance

By:: Amelia R. Frost - MortgageLoan.com | June 08, 2008

Once you've paid your mortgage and car loan, another large monthly expense is car insurance. This is one area where shopping for the best rates, researching discounts, and planning ahead can save you money.

All About Balance Transfers

By:: Greg Mischio - MortgageLoan.com | June 08, 2008

A credit card balance transfer is a Band-aid for people who are heavily in debt, and can drastically reduce debt expenses. But for many chronic overspenders, it often ends up being a temporary stop to financial bleeding.

Homeowners vs. Speculators: The Bailout Wars

By:: Tom Kerr - MortgageLoan.com | June 07, 2008

As rescue plans and bailout debates continue, almost everyone distinguishes between homeowners and investment speculators. They point out that what's beneficial to one group will harm and threaten the other. But the two may have more in common than meets the eye.

Beware of Tax Rebate Scams

By:: Greg Mischio - MortgageLoan.com | June 07, 2008

The stimulus checks are in the mail, and the scam artists are on the prowl. With the government's tax rebate checks now arriving at the homes of Americans, identity thieves are hitting consumers with a new scheme.

Go Green for Auto Tax Rebates

By:: Greg Mischio - MortgageLoan.com | June 07, 2008

Going green is no longer just a friendly gesture toward Mother Nature. It's now becoming a hard-core selling point in a sluggish economy. Auto manufacturers are getting in on the act, and they're offering some significant rebates on fuel-efficient cars.

Don't Lose A Job Because Of Bad Credit

By:: Catherine Brock - MortgageLoan.com | June 07, 2008

A few proactive steps can keep you from missing out on your dream job because of bad credit.

Know Your Mortgage Rates

By:: Catherine Brock - MortgageLoan.com | June 06, 2008

When you're shopping for a mortgage, you're on the lookout for the lowest interest rate. You may have the urge to try to time rate changes so that you can get in just when rates dip. Unfortunately, this is far easier said than done.

Living on a Shoestring

By:: Amelia R. Frost - MortgageLoan.com | June 06, 2008

These days, everyone's feeling a financial pinch. Gas prices are increasing at an unprecedented rate. Food costs more with every visit to the grocery store. Vacations have become prohibitive. Foreclosures are on the rise. Every dollar counts. Here are some tips on how to ease the pressure on your wallet.

Housing Bailouts: Letting the Chips Fall

By:: Tom Kerr - MortgageLoan.com | June 06, 2008

While politicians debate various plans to rescue our ailing real estate and mortgage markets, some experts oppose any artificial life support that could potentially disrupt the natural forces of our free market system. They argue that such manipulation got us into this mess in the first place.

US Mortgage Delinquencies and Foreclosures at Record High

By:: MortgageLoan.com - MortgageLoan.com | June 06, 2008

Mortgage delinquencies and foreclosures reached record levels in the first quarter of this year, driven higher by increasing housing despair, the Mortgage Bankers Association (MBA) reported on Thursday.

Rate Update 2008-06-06: May Unemployment Shows Largest Increase In 22 Years

By:: Paul King - MortgageLoan.com | June 06, 2008

Bonds were up and rates were down upon the release of May Unemployment numbers by the Department of Labor.

Five Pointers to Survive the Recession

By:: Greg Mischio - MortgageLoan.com | June 05, 2008

These days, times are tough for every household's bottom line. The job market is getting squeezed, home values are in a free fall, and gas prices are rising. Here are five tips to get you through this difficult period.

Mortgage Rates Undergo a Transformation

By:: Tom Kerr - MortgageLoan.com | June 05, 2008

Just as the insurance industry has done in recent years, the mortgage industry is now undergoing a radical transformation in response to its recent financial losses. As the changes take shape, it could mean additional fees and higher rates for consumers when applying for a loan.

Mortgage Crisis Fuels Relationships Breakdowns

By:: Anders Bylund - MortgageLoan.com | June 05, 2008

Whether for love or money, the pressures of the current financial climate have taken their toll on relationships across the country.

Mortgage Applications Drop to 6-Year Low

By:: MortgageLoan.com - MortgageLoan.com | June 05, 2008

The Mortgage Bankers Association (MBA) on Wednesday announced its Weekly Mortgage Applications Survey which showed a drop of 15.3 percent in mortgage applications volume for the week ending May 30.

Rate Update 2008-06-05: Markets Await Jobs Report

By:: Paul King - MortgageLoan.com | June 05, 2008

Markets today were focused on May Unemployment data, scheduled to be released by the Labor Department tomorrow.

Changing Times for Real Estate Brokers

By:: Tom Kerr - MortgageLoan.com | June 04, 2008

The playing field has changed for real estate agents, as consumers have gained access to online tools and technologies that previously were reserved only for licensed professionals. To keep up with the times, agents need to remain relevant and needed. Otherwise, savvy buyers and homeowners may opt to go it alone.

Four Signals We're on the Cusp of Recession

By:: Greg Mischio - MortgageLoan.com | June 04, 2008

Recently, every economist under the sun has been asked the same question: Are we in a recession? The traditional answer is based on the decrease in the nation's Gross Domestic Product. Yet all you really need to do is look at the poorly performing job market to spot the telltale signs of the "R" word.

Government-Sponsored Enterprises: An Overview

By:: Catherine Brock - MortgageLoan.com | June 04, 2008

Freddie Mac and Fannie Mae are quasi-governmental agencies that were originally established to help you accomplish your financial goals.

Rating Firms Agree to Settlement over Business Practices

By:: MortgageLoan.com - MortgageLoan.com | June 04, 2008

A coalition of leading Wall Street credit rating firms is close to an agreement with New York Attorney General Andrew Cuomo to end an investigation into their roles in the subprime-mortgage crisis.

Rate Update 2008-06-04: Productivity Improvements Ease Inflationary Pressure

By:: Paul King - MortgageLoan.com | June 04, 2008

Bonds were down again this morning in trading today as the stock market posted gains again. Rates will still likely decrease today due to strength in bonds from yesterday.

Debt Consolidation: A Look from the Other End

By:: Catherine Brock - MortgageLoan.com | June 03, 2008

Debt consolidation has consequences, good and bad. Make sure that you know what to expect before you proceed.

Refinance with an FHA Loan

By:: Catherine Brock - MortgageLoan.com | June 03, 2008

For more than 20 years, the FHA has been allowing FHA borrowers in good standing to refinance under a streamlined procedure that involves no asset, credit, employment, or income verification.

Three Renovation Tips

By:: Amelia R. Frost - MortgageLoan.com | June 03, 2008

Many homeowners today are using a second mortgage to remodel their homes. Once they have the design and the cash, they need to take the next step: finding a contractor who they can trust. Here are three tips for choosing the right professional for the job.

Wachovia ousts CEO Amidst Mortgage Crisis

By:: MortgageLoan.com - MortgageLoan.com | June 03, 2008

At the request of board of directors, Kennedy Thompson is to step down as the CEO of Wachovia after eight years at the bank's helm.

Rate Update 2008-06-03: Factory Orders Up, Mortgage Rates Up

By:: Paul King - MortgageLoan.com | June 03, 2008

Bonds were down on stronger than expected economic data and stock market gains. Rates however may stay unchanged over yesterday due to weakness in bonds yesterday afternoon.

The Right Time To Invest

By:: Anders Bylund - MortgageLoan.com | June 02, 2008

When is the right time to invest? The answer is steadily and frequently.

Smart Ways to Pay for College

By:: Greg Mischio - MortgageLoan.com | June 02, 2008

College-bound students are about to discover that life provides plenty of invaluable lessons outside the classroom. Included in those lessons is the notion that you should never underestimate yourself, especially when it comes to scholarships.

Credit Cards Are Back in Vogue

By:: Greg Mischio - MortgageLoan.com | June 02, 2008

The slumping housing market is forcing consumers to turn to an unlikely source for financial help. While many experts warn against using credit cards to help make ends meet, many consumers are using them for daily expenses and as their only source for debt consolidation.

Rate Update 2008-06-02: Bonds Up On Stock Weakness

By:: Paul King - MortgageLoan.com | June 02, 2008

Bonds were up today despite strong economic news. Rates however should still increase about .125 to price due to weakness from Friday's trading.

Beat the Taxman With Tax-Free Income

By:: Catherine Brock - MortgageLoan.com | June 01, 2008

Jump start your wealth-building efforts by increasing your tax-free income.

Six Tax Definitions You Can't Live Without

By:: Catherine Brock - MortgageLoan.com | June 01, 2008

Sharpen up your tax knowledge with a review of key tax terms.

Gold: A Possible Hedge for Hard Economic Times

By:: Catherine Brock - MortgageLoan.com | June 01, 2008

Gold is the world's most under-owned asset now...but will that continue? As economic concerns rise, some financial gurus believe that more investors will start allocating a larger portion of their portfolios to gold.

Hope Now to Rescue as Foreclosures Increase

By:: MortgageLoan.com - MortgageLoan.com | June 01, 2008

Foreclosure prevention coalition, Hope Now on Friday announced it had helped 183,000 at-risk borrowers stay in their homes during the month of April.

Strategies for the Not-Yet-Ready-For-Retirement Crowd

By:: Anders Bylund - MortgageLoan.com | May 31, 2008

Some people aren't saving enough for a comfortable retirement. Here's how to improve that situation today.

Overview of Second Mortgages

By:: Greg Mischio - MortgageLoan.com | May 31, 2008

Tough economic times are hitting consumers hard. As fuel prices rise, people are looking for different ways to drum up cash. One method to consider is the second mortgage, a flexible loan that can be used for a variety of different reasons.

Entrepreneurs: Grow Your Business During Recessionary Times

By:: Greg Mischio - MortgageLoan.com | May 30, 2008

In today's business climate, big companies are experiencing sagging profits and plummeting revenues. Small businesses are also feeling the pain. Yet recessionary times, however depressing they may be, offer great opportunities for growth.

Eight Hints to Boost Your Savings

By:: Catherine Brock - MortgageLoan.com | May 30, 2008

During these challenging economic times, it's more important than ever to save your money.

Families Paying for College

By:: Catherine Brock - MortgageLoan.com | May 30, 2008

The cost of a college education is rising, and financial aid calculations may ask you to contribute more than you can realistically afford.

Mortgage Rates Hit 11-week High

By:: MortgageLoan.com - MortgageLoan.com | May 30, 2008

Fannie Mae on Thursday announced that 30-year fixed rate mortgages averaged 6.08 percent this week. It's jumped to its highest level since mid-March amid growing concerns about inflation. At the same point last year, the 30-year loan averaged 6.42 percent.

Rate Update 2008-05-30: Bonds Up; Income and Consumer Sentiment As Expected

By:: Paul King - MortgageLoan.com | May 30, 2008

Bonds were up today, mortgage rates should improve by about .375 to price.

Five Ways to Spruce Up Your Home's Exterior

By:: Greg Mischio - MortgageLoan.com | May 29, 2008

If you're worried about the recent decline in home values, you could take a passive approach, and wait for the real estate market to rebound. Another option is to improve the value of your home by giving it an exterior sprucing up.

Research Mortgage Rates on Internet

By:: Catherine Brock - MortgageLoan.com | May 29, 2008

Researching mortgage rates on the Internet can be enlightening or frustrating. Choose the former route by learning the key points of online mortgage rates research.

Your Commitment Letter: Firm or Conditional?

By:: Catherine Brock - MortgageLoan.com | May 29, 2008

Knowing whether your commitment letter is firm or conditional can spare you from some ugly surprises.

Mortgage Application Volume Falls 4.6 Percent

By:: MortgageLoan.com - MortgageLoan.com | May 29, 2008

Applications for home mortgages slipped for a second consecutive week to a seasonally adjusted 4.6 percent as borrowing rates crept higher according to figures published by the Mortgage Bankers Association for the week ending May 23, 2008.

Rate Update 2008-05-29: Bonds Weaken; Stock Market Posts Gains

By:: Paul King - MortgageLoan.com | May 29, 2008

Bonds were down today, and mortgage rates rose by about a half of a discount point.

Mortgage Crisis: Learning from the UK

By:: Tom Kerr - MortgageLoan.com | May 28, 2008

As the U.S. struggles to remedy its subprime mortgage crisis, other countries-especially the UK-are having their own economic problems. But the UK deals with mortgage woes in unique ways that may teach us a new approach.

Six Top Tips for Reverse Mortgages

By:: Tom Kerr - MortgageLoan.com | May 28, 2008

As America's population ages, reverse mortgages are growing in popularity as a means for older homeowners to tap into their home equity for needed income. In order to best manage a reverse mortgage, it helps to understand them thoroughly, and follow a few basic tips and guidelines.

Home Prices Plummet 14.1 percent in First Quarter

By:: MortgageLoan.com - MortgageLoan.com | May 28, 2008

A clear indication of dwindling consumer confidence in the housing market was revealed on Tuesday as a closely watched housing index shows prices of single-family homes plunged a record 14.1 percent in the first quarter compared with a year earlier, the lowest since its inception in 1988.

Rate Update 2008-05-28: Mortgage Rates Continue To Rise

By:: Paul King - MortgageLoan.com | May 28, 2008

Rates continued to rise today on stronger than expected economic news. Expect rates to increase by .25 of a discount point over yesterday.

Proof From The Fed: It's Tougher to Borrow

By:: Tom Kerr - MortgageLoan.com | May 27, 2008

Consumers are having a tougher time borrowing money through mortgages, home equity loans, and small business loans, according to new first quarter 2008 data from the Federal Reserve. The majority of banks have tightened credit at a time when most Americans need it more than ever.

Tapping Home Equity? Try The Oh-So-Desirable Credit Union

By:: Tom Kerr - MortgageLoan.com | May 27, 2008

Credit unions are a good option when looking for a home equity loan. Even if you don't think you qualify to join one because you lack a particular professional affiliation, you may be surprised. Some let you join just because of where you happen to live.

Greenspan Speaks Out on U.S. Economy

By:: MortgageLoan.com - MortgageLoan.com | May 27, 2008

Former Federal Reserve chairman, Alan Greenspan has echoed the sentiments of Warren Buffet, by saying the United States was still more likely than not to have a recession despite relative stabilization in the economy in recent weeks.

Rate Update 2008-05-27: Rates Up After Memorial Day Holiday Weekend

By:: Paul King - MortgageLoan.com | May 27, 2008

Bonds open down after the holiday weekend, despite weak consumer confidence reports. Rates should increase by .125 to the points.

Memorial Day Lesson: Summer Financial Planning

By:: Greg Mischio - MortgageLoan.com | May 26, 2008

Memorial Day is a time to honor those lost in wars past and present. This somber occasion also marks the unofficial beginning of summertime. As the heat of the dog days fast approaches, here are some easy ways to cut back on expenditures.

Certificates of Deposit: The New Hot Story

By:: Catherine Brock - MortgageLoan.com | May 26, 2008

What's old is new again, as certificates of deposit are becoming an increasingly attractive investment vehicle.

Foreclosures of the Rich and Infamous

By:: Anders Bylund - MortgageLoan.com | May 26, 2008

Celebrities may not be rich forever. The foreclosure wave is an equal opportunity tsunami.

Buffet Sees U.S. in Recession

By:: MortgageLoan.com - MortgageLoan.com | May 26, 2008

Warren Buffet, CEO of Berkshire Hathaway Inc and one of the world's wealthiest men in a recent interview on Sunday said he believes the U.S. economy is already in a recession.

Recipe To Prepare For A Bad Credit Mortgage Application

By:: Catherine Brock - MortgageLoan.com | May 25, 2008

The only way to recover from bad credit is to start rebuilding as soon as possible. You don't need a miracle to prep your finances for a mortgage application-just a little discipline and organization.

The Truth About Car Title Loans

By:: Greg Mischio - MortgageLoan.com | May 25, 2008

What's the latest financial scheme to perform a hit and run on people who can't manage their money? It's the car title loan. The cousin to payday loans, these can be just as lethal to a family's finances.

Financing A Graduate School Education

By:: Anders Bylund - MortgageLoan.com | May 23, 2008

Because it's never too late to go back to school, here's what you need to know to finance a graduate education.

Fed's Kroszner - Mortgage Market Recovery Will Take Time

By:: MortgageLoan.com - MortgageLoan.com | May 23, 2008

Fed Governor Randall Kroszner, addressing a conference of state bank supervisors, said that mortgage markets will recover slowly with more emphasis on improved risk management techniques needed to help recovery.

Rate Update 2008-05-23: Rising Fuel Prices Help Mortgage Rates

By:: Paul King - MortgageLoan.com | May 23, 2008

Bonds were up on Friday as stocks continued to weaken on rising energy prices.

Use Internet Technology For Foreclosure Savvy

By:: Catherine Brock - MortgageLoan.com | May 22, 2008

The shakedown in the real estate industry is creating a large inventory of foreclosure properties. With the help of the Internet, opportunistic property seekers can find these bargains without leaving home.

New Technologies For Seniors

By:: Anders Bylund - MortgageLoan.com | May 22, 2008

Affordable high-tech gadgets and services can make senior living safer and more comfortable.

Mortgage Application Volumes Down 7.8 Percent

By:: MortgageLoan.com - MortgageLoan.com | May 22, 2008

According to data from the Mortgage Bankers' Association (MBA), weekly mortgage applications fell by 7.8 percent in the week ending May 16 and by 9.4 percent on the same time last year.

Rate Update 2008-05-22: Rates Sink on Inflation Concerns

By:: Paul King - MortgageLoan.com | May 22, 2008

Bonds sank today on concerns about inflation. Rates will increase today by .375 to price.

Uncle Sam as a Mortgage Investor

By:: Tom Kerr - MortgageLoan.com | May 21, 2008

Lawmakers are proposing various kinds of mortgage crisis bailouts or rescue plans, and most suggest that the government get more involved in helping to relieve the burden of bad loans. That basically means that Uncle Sam will invest our tax dollars in the mortgage business.

Rate Update 2008-05-21: Fed Signals No More Rate Cuts

By:: Paul King - MortgageLoan.com | May 21, 2008

Bonds were down today as the FOMC minutes were released showing inflation concern.

Lenders Avoiding Foreclosure Rescue

By:: Tom Kerr - MortgageLoan.com | May 20, 2008

Mortgage lenders have been pressured by Congress to help homeowners, and many volunteered to "rework" troublesome loans with flexible terms and refinancing. But recent reports show that few are following through on promises. Meanwhile, homeowners are increasingly desperate.

Fannie and Freddie off S&P Downgrade Review

By:: MortgageLoan.com - MortgageLoan.com | May 20, 2008

Standard & Poor's announced on Monday it was no longer reviewing Fannie Mae and Freddie Mac for a negative rating by affirming both government sponsored enterprises with a stable outlook.

Senate Passes Mortgage Aid Bill

By:: MortgageLoan.com - MortgageLoan.com | May 20, 2008

Despite opposition from the Bush administration, Senate Banking Committee leaders have agreed upon a housing bill designed to prevent foreclosures and create affordable housing for an increasingly beleaguered mortgage industry.

Rate Update 2008-05-20: Rates Down Despite Inflation Indications

By:: Paul King - MortgageLoan.com | May 20, 2008

Bonds were up today despite stronger than expected inflation indicators. Rates will be down by .25 to the points today.

Five top Mortgage Errors

By:: Greg Mischio - MortgageLoan.com | May 19, 2008

To err is human. To err on your mortgage, however, is costly. Many homeowners make common mistakes regarding their home loans. These easily can be avoided if you're aware of the most common mortgage errors.

Mortgages: Understanding Income Declaration

By:: Catherine Brock - MortgageLoan.com | May 19, 2008

When applying for a mortgage, you can choose to declare your income using a full income verification loan, or opt for a loan in which the lender doesn't verify how much you earn. Do you know what the differences are?

Fannie Mae Relaxes Requirements for Loan Repayments

By:: MortgageLoan.com - MortgageLoan.com | May 19, 2008

Government sponsored enterprise; Fannie Mae has decided to set a single national standard for downpayments on mortgages it buys in a bid to stimulate the housing market.

Rate Update 2008-05-19:

By:: Paul King - MortgageLoan.com | May 19, 2008

Mortgage markets are flat today as no economic data moved the market one way or another. Rates should stay even with Friday's levels.

Home Equity Loan Traps

By:: Greg Mischio - MortgageLoan.com | May 18, 2008

Consider how wealthy people view borrowing. They use debt only as a means to build more wealth, a philosophy foreign to many home equity borrowers. Here are some common second mortgage loan traps that serve as temptations to many.

Police Officer Charged in Mortgage Loan Scam

By:: MortgageLoan.com - MortgageLoan.com | May 18, 2008

A veteran officer has been charged for his involvement in a string of mortgage scams that duped lenders into parting with hundreds of thousands of dollars.

Pros and Cons of Teen Credit Cards

By:: Catherine Brock - MortgageLoan.com | May 17, 2008

Teen credit cards may offer convenience, but there are risks involved, too.

Avoid Bankruptcy With Debt Consolidation

By:: Greg Mischio - MortgageLoan.com | May 17, 2008

Economic times are tough. Home values have plummeted, a recession is looming, and gas costs are rising. If you're at the end of your financial rope, you may want to think about a debt consolidation loan as an alternative to filing for bankruptcy.

Not-To-Be-Missed Tax Deductions

By:: Catherine Brock - MortgageLoan.com | May 16, 2008

Get organized now to lower your 2008 tax bill by reviewing some commonly overlooked tax deductions.

Know Your HELOC before You Sign

By:: Catherine Brock - MortgageLoan.com | May 16, 2008

Home equity lines of credit are powerful financial tools. Understand the fine print before you sign.

Building Credit Without A Credit Card

By:: Catherine Brock - MortgageLoan.com | May 16, 2008

Fair Isaac's FICO Expansion score bridges the gap between lenders and no-credit borrowers by assigning a credit rating to consumers who have little or no credit history.

Mortgage Rates in Slight Decline

By:: MortgageLoan.com - MortgageLoan.com | May 16, 2008

Rates on 30-year mortgages fell for the second consecutive week by 4 basis points to 6.01 percent with an average 0.6 point for the week ended May 15, a weekly survey released by Freddie Mac on Thursday revealed.

Rate Update 2008-05-16: Housing Starts Stronger Than Expected, Yet Consumer Confidence Weak

By:: Paul King - MortgageLoan.com | May 16, 2008

Markets were flat Friday following mixed economic news. Rates however should improve by as much as .375 to the points as a result of Thursday afternoon trading.

Recast Your Mortgage

By:: Catherine Brock - MortgageLoan.com | May 15, 2008

When circumstances make it tough for you to make your mortgage payments, consider asking your lender about a mortgage recast.

Mortgage Application Volumes Climb

By:: MortgageLoan.com - MortgageLoan.com | May 15, 2008

Mortgage applications again rose for a second consecutive week by 2.9 percent. The rise for the week ending May 9 has been largely fueled by an increase in demand for home refinancing loans as interest rates dropped.

Rate Update 2008-05-15: Industrial Production Weaker Than Expected

By:: Paul King - MortgageLoan.com | May 15, 2008

Bonds were up today on weaker than expected economic data. Industrial Production in April showed a larger than expected decline, which is good news for mortgage rates.

Renters Get Hit By Subprime Crisis

By:: Tom Kerr - MortgageLoan.com | May 14, 2008

While Congress debates ways to rescue the mortgage industry, and the millions of homeowners who are facing foreclosure, the truly helpless victims may be innocent renters. Huge numbers of families are being evicted as their homes go into foreclosure, but they have nobody coming to bail them out of the crisis.

Tracking Your Personal Finances

By:: Anders Bylund - MortgageLoan.com | May 14, 2008

The best-laid budget plans can fail if you don't track your expenses properly. Here's how to do it right.

FBI Warns of Rising Mortgage Fraud

By:: MortgageLoan.com - MortgageLoan.com | May 14, 2008

The FBI, which is currently involved in over 1300 active investigations into mortgage 'irregularities' reported on Tuesday that as a result of the sinking housing market, they expect to witness a sharp rise in the number of 'suspicious' mortgage activity reported.

Rate Update 2008-05-14: Rates Drop As Inflation Concerns Ease

By:: Paul King - MortgageLoan.com | May 14, 2008

Bonds opened up today on relaxed inflation concerns. Rates should drop by about .25 to the points.

Four Most Important Lender Questions

By:: Greg Mischio - MortgageLoan.com | May 13, 2008

If you're being interviewed for a job, you need to ask the interviewer questions to make sure that the position is right for you. Mortgages are no different. There are certain questions that you need to ask a lender to determine if a home loan is right for your financial situation.

Michael Jackson's Neverland Escapes Foreclosure

By:: MortgageLoan.com - MortgageLoan.com | May 13, 2008

Pop legend Michael Jackson has averted foreclosure on his Neverland Ranch, following late intervention from real estate investment firm, Colony Capital.

Rate Update 2008-05-13: Rates Up on Strong Retail Sales Data

By:: Paul King - MortgageLoan.com | May 13, 2008

Bonds were down this morning on the release of stronger than expected economic data. Rates will likely be higher by as much as .375 to price.

Six Tips for Buying Foreclosures

By:: Tom Kerr - MortgageLoan.com | May 12, 2008

Foreclosures not only represent a great professional investment opportunity, but can also be a fast way to acquire your first home or a cherished vacation property. In order to buy successfully and avoid common foreclosure pitfalls, it helps to know a bit about how these unique sales work.

Buying Stocks During Volatile Times

By:: Anders Bylund - MortgageLoan.com | May 12, 2008

Investors who do their homework can profit from uncertainty in the stock market. You can do it, too.

Jingle Mail May be Urban Myth

By:: MortgageLoan.com - MortgageLoan.com | May 12, 2008

Despite reports to the contrary, a trend described as "walking away" or "jingle mail" which involves homeowners voluntarily defaulting on their loans even though they possess the means to make payments has been dismissed by experts as a myth.

Rate Update 2008-05-12: Rates Flat, Stocks Up

By:: Paul King - MortgageLoan.com | May 12, 2008

Bonds were up today despite stock market gains, and rates will likely stay flat or increase today as a result of weakness in bonds from Friday afternoon.

Feel secure with FHASecure Loans

By:: Catherine Brock - MortgageLoan.com | May 11, 2008

If you've been tricked by teaser rates that have expired and left you with a mortgage payment that you can't afford, FHASecure might have your solution.

A New Proposal for Government-Backed Loans

By:: Tom Kerr - MortgageLoan.com | May 11, 2008

Many homeowners who want to refinance to avoid foreclosure are hoping to get help from the Federal Housing Administration (FHA). One plan under consideration would offer $300 billion in new FHA loans for that purpose, but there's passionate resistance from critics of the bill.

Four Positive Reasons to Use Credit Cards

By:: Greg Mischio - MortgageLoan.com | May 10, 2008

Conventional financial wisdom says that a credit card, like money, is the root of all evil. However, when used wisely, credit cards can produce a number of surprising benefits.

Affordable Gifts for Mother's Day

By:: Greg Mischio - MortgageLoan.com | May 10, 2008

As Mother's Day approaches, dads, sons, and daughters are crying "Mayday!" as they wrack their brains for thoughtful but inexpensive gift ideas in this challenging economy. The traditional bouquet of flowers is always nice, but there are other ways to brighten a mother's day and not damage your budget.

Finding Deals on Student Loans

By:: Catherine Brock - MortgageLoan.com | May 09, 2008

The economy is sputtering, but the student loan business is still strong. If you have college studies in your future, you still have a reasonable chance to find some financing to help you cover the cost.

Get Tax Ready for 2008

By:: Greg Mischio - MortgageLoan.com | May 09, 2008

The taxman has come and gone, and no one is all that sad to see him leave. However painful his recent visit might have been, you'll want to start getting ready for the next time he comes around. A little upfront planning can make your next April 15th a much more pleasant experience.

Be Proactive to Avoid Bad Credit

By:: MortgageLoan.com - MortgageLoan.com | May 09, 2008

A positive outlook can make the world a much more pleasant place. But sometimes, it's hard to look on the bright side of life when you have bad credit. Your best bet is to be proactive and steer clear of bad credit before it happens.

Three Bad Debt Consolidation Actions

By:: Greg Mischio - MortgageLoan.com | May 09, 2008

Debt can often produce a downward financial spiral. Being heavily in the red can prompt some desperate actions, including these three bad debt consolidation moves.

Mortgage Crisis: Did the Media Get it Right?

By:: Tom Kerr - MortgageLoan.com | May 09, 2008

The media is often criticized for the way it handles the news. Part of the current debate involves whether or not the media coverage actually contributed to our present mortgage crisis.

Mortgage Bill gets House Approval

By:: MortgageLoan.com - MortgageLoan.com | May 09, 2008

The House of Representatives on Thursday approved legislation to create a $300 billion mortgage insurance fund designed to provide billions more in homeowner aid.

Rate Update 2008-05-09: Bonds Continue to Strengthen as Stocks Weaken

By:: Paul King - MortgageLoan.com | May 09, 2008

The bond market was up again today on stock market weakness. Expect another decline of .25 to price today.

Property Values and Computer Generated Appraisals

By:: Tom Kerr - MortgageLoan.com | May 08, 2008

To many real estate industry veterans, relying upon computer programs to calculate home values seems like a deplorable idea. But in an increasingly automated world, appraisals via software are now popular with many lenders. Unfortunately, it may adversely affect your mortgage or refinance.

Seller Financing Making a Comeback

By:: Catherine Brock - MortgageLoan.com | May 08, 2008

With mortgage lenders tight on cash, some buyers and sellers are striking up their own financing arrangements to get the deal closed.

Mortgage Lenders under Spotlight at Senate Hearing

By:: MortgageLoan.com - MortgageLoan.com | May 08, 2008

In an ongoing investigation into alleged irregularities by mortgage lenders, the Senate on Tuesday heard testimony from the Chief Executive of Countrywide Financial Corporation, Steve Bailey and Katherine Porter, a professor at the University of Iowa.

Rate Update 2008-05-08: Bonds Continue Rally From Wednesday

By:: Paul King - MortgageLoan.com | May 08, 2008

Bonds were up today, building on the rally from yesterday. Rates will drop today by at least .25 to price.

FHA Mortgage Insurance: An Overview

By:: Catherine Brock - MortgageLoan.com | May 07, 2008

On the strength of renewed federal support, the FHA is poised to pick up the pace of insuring mortgage loans. If you're in the market to buy or refinance, take a few minutes to learn how this important mortgage financing option works.

Retirement: Time To See The World

By:: Anders Bylund - MortgageLoan.com | May 07, 2008

You've been saving up for retirement all your life. It's time to enjoy the fruits of your labor.

Fannie Mae Reports Bigger Than Expected Loss

By:: MortgageLoan.com - MortgageLoan.com | May 07, 2008

Fannie Mae posted a big first-quarter loss of $2.2 billion Tuesday and said it planned to raise $6 billion through a stock offering to shore up its balance sheet.

Rate Update 2008-05-07: Rates Flat Despite Productivity Gains

By:: Paul King - MortgageLoan.com | May 07, 2008

Rates were flat today despite better than expected economic news. Retail rates should be unchanged to slightly higher over yesterday, due to yesterday afternoon weakness in bonds.

Is Subprime Crisis Nearing an End?

By:: Tom Kerr - MortgageLoan.com | May 06, 2008

Nobody has a crystal ball, but some data now indicates that the worst may be over for the intense and devastating subprime loan crisis. If the end is near, it's welcome news for the entire financial world, because the subprime debacle has caused widespread tremors and shocks.

Easy Guide to Buying Your First Home

By:: Catherine Brock - MortgageLoan.com | May 06, 2008

Don't let the gloomy mortgage news scare you; buying your first home is still a step-by-step process.

VA Mortgage Loans

By:: MortgageLoan.com - MortgageLoan.com | May 06, 2008

Designed to provide millions of U.S. veterans and their families with affordable housing, the VA loan emerged through the GI Bill of Rights, which was signed off in 1944 by President Roosevelt. The Bill not only eliminated down payment on a house for veterans, but has also contributed to their welfare and the growth of the nation's economy more than any other program in history.

Fed Head Demands Action over Foreclosure Fears

By:: MortgageLoan.com - MortgageLoan.com | May 06, 2008

Federal Reserve Chairman, Ben Bernanke has urged action from the government and mortgage lenders in a bid to stave off the threat of foreclosure to millions of households around the country.

Rate Update 2008-05-06: Bonds Increase, Fannie Mae Lending Power Enhanced

By:: Paul King - MortgageLoan.com | May 06, 2008

Treasury bonds increased further today, on rebounding stocks. Fannie Mae the largest US Mortgage company, posted a larger than expected quarterly loss.

Eight tips to Avoid Foreclosure

By:: Greg Mischio - MortgageLoan.com | May 05, 2008

The subprime crisis has made "foreclosure" a part of our everyday vernacular. If you're having problems making your mortgage payments, there are ways to avoid foreclosure before it's too late.

Mortgage Brokers, Bankers, or Loan Officers: Know the Differences

By:: Tom Kerr - MortgageLoan.com | May 05, 2008

When applying for a mortgage loan or mortgage refinance, many consumers don't distinguish between brokers, bankers, and loan officers. But the differences are significant, and can affect the service you get, your costs, and the size of the selection of loan instruments offered to you.

Government Subprime Probe Intensifies

By:: MortgageLoan.com - MortgageLoan.com | May 05, 2008

The FBI along with federal, state and local agencies is looking into potential crimes ranging from mortgage fraud by brokers to securities fraud, inside trading and accounting fraud, according to reports from the Wall Street Journal.

Rate Update 2008-05-05: Quiet Week Ahead For Rates?

By:: Paul King - MortgageLoan.com | May 05, 2008

Bonds were relatively calm today despite a drop in the stock market. Rates may edge up about .125 to price today.

Subprime Crisis Hurting Non-Profits

By:: Tom Kerr - MortgageLoan.com | May 04, 2008

As home equity tumbles and bad mortgages sink investments, non-profit organizations emerge as one of the most unexpected casualties. Because they rely on the quality of their credit to survive, many non-profits with subprime-related assets are in for a rude awakening.

Investments: Make a Killing from the Mortgage Fiasco

By:: Anders Bylund - MortgageLoan.com | May 04, 2008

In big disasters, you'll find stock market opportunities. Say hello to investing in survivors of the mortgage fiasco.

Credit Card Do's and Don'ts

By:: Greg Mischio - MortgageLoan.com | May 03, 2008

Credit cards give you flexibility, instant access to emergency funds, and convenience. They can also give you major financial problems if you're not careful. Here are some credit card do's and don't's to help you manage your plastic wisely.

Online Help for Debt Consolidation

By:: Greg Mischio - MortgageLoan.com | May 03, 2008

Debt is a wrecking ball that can topple your financial foundation. Interest payments can eat up dollars which could otherwise be used for retirement savings or other financial goals. To stem the destructive power of debt, look online for a debt consolidation loan.

House Panel Approves Bill to Assist Borrowers

By:: MortgageLoan.com - MortgageLoan.com | May 03, 2008

The House of Representatives Financial Services Committee on Thursday approved a sweeping bill led by the Democrats to finance $300 billion in distressed mortgages with the aim of helping homeowners facing the threat of foreclosure.

Rates on 30-year Mortgages Reach 7 Week High

By:: MortgageLoan.com - MortgageLoan.com | May 02, 2008

Long-term mortgage rates ended the week mixed, with the 30-year fixed rate average rising, as markets reacted to news of higher inflation.

Rate Update 2008-05-02: Rates Jump on Strong Employment Report

By:: Paul King - MortgageLoan.com | May 02, 2008

Bonds were sharply down and rates increased following stronger than expected jobs data, signifying renewed concerns about inflation.

Four Life Saving Tips If You Can't Pay Taxes

By:: Greg Mischio - MortgageLoan.com | May 01, 2008

April 15th has come and gone, and taxpayers from sea to shining sea sent Uncle Sam a tax check. Because of tough economic times, though, many weren't able to make the necessary payment to the guy with the grey goatee. This may happen to you sometime in the future, so it's important to know that taxpayers have some payment options.

Mortgage Applications Drop to 2008 Low

By:: MortgageLoan.com - MortgageLoan.com | May 01, 2008

The Mortgage Bankers Association's leading index of mortgage activity dropped to its lowest level this year.

Rate Update 2008-05-01: Rates Down In Anticipation of Employment Report

By:: Paul King - MortgageLoan.com | May 01, 2008

Interest rate markets were up today despite the release of stronger than expected economic data.

After Foreclosure: Mortgage Help

By:: Catherine Brock - MortgageLoan.com | April 30, 2008

After suffering through a foreclosure, you're faced with rebuilding your life and your credit profile, one step at a time.

Retirement Savings Outlook Bleak

By:: Anders Bylund - MortgageLoan.com | April 30, 2008

Nearly 50 percent of Americans aren't sure that they're saving enough for retirement. Don't fall into that camp.

GMAC, Countrywide Post Huge Losses on Mortgages

By:: MortgageLoan.com - MortgageLoan.com | April 30, 2008

Countrywide and GMAC LLC on Tuesday reported big first-quarter losses as they continue to be hurt by credit problems.

Rate Update 2008-04-30: Fed Cuts Rates .25%

By:: Paul King - MortgageLoan.com | April 30, 2008

The Federal Reserve announced today it would cut key short term interest rates by a quarter of a percentage point.

An Overview of FHA Loans

By:: Tom Kerr - MortgageLoan.com | April 29, 2008

The Federal Housing Administration (FHA) was established around the time of the Great Depression to help Americans buy homes. Today, the FHA continues to insure loans by offering low down payments and refinancing options with attractively high loan-to-value ratios.

An Overview of Mortgage Changes

By:: Tom Kerr - MortgageLoan.com | April 29, 2008

New mortgage rules have sprung up during the past few months, inspiring intense debate and controversy. Hopefully, some will actually protect consumers and taxpayers.

Understanding Cash back Mortgage Refinance Loans

By:: Catherine Brock - MortgageLoan.com | April 29, 2008

Learn how to raise the money you need by leveraging your home with a cash back mortgage refinance loan.

Know Your Bond Terms

By:: Catherine Brock - MortgageLoan.com | April 29, 2008

If you don't know an inverse yield curve from an accrued market discount, it's time for a little review session on bond terms.

Bank of America Pledges Help to Troubled Owners

By:: MortgageLoan.com - MortgageLoan.com | April 29, 2008

With the takeover of home-loan giant Countrywide Financial Corp imminent, the Bank of America took time off its round table negotiations to promise help to the troubled 265,000 borrowers struggling to keep their homes over the next two years by refinancing or modifying at least $40 billion in mortgages.

Rate Update 2008-04-29: Rates Down Despite Weaker Than Expected Economic Reports

By:: Paul King - MortgageLoan.com | April 29, 2008

Bonds were up, rates were down today despite stronger than expected data. Retail mortgage rates dropped about .375 to price.

Are FHA Loans Too Expensive?

By:: Tom Kerr - MortgageLoan.com | April 28, 2008

The Federal Housing Administration (FHA) insures loans to make them more affordable for Americans. But lately, banks that write the FHA-insured mortgages have added their own fees, making them more expensive and undercutting the whole notion of less costly FHA loans.

Freddie Mac Mortgage Portfolio in March Rise

By:: MortgageLoan.com - MortgageLoan.com | April 28, 2008

Freddie Mac, the second largest funder of US home loans on Friday announced that its agreement to purchase mortgages rose to its highest level in March after its regulator eased capital constraints.

Rate Update 2008-04-28: Rates Flat in Anticipation of Weeks Data

By:: Paul King - MortgageLoan.com | April 28, 2008

Rates were unchanged today and the bond market flat with no economic news released and the stock market calm as well.

FHA Loans: Four Mistakes To Avoid

By:: Greg Mischio - MortgageLoan.com | April 27, 2008

Strapped homeowners are crying "uncle" as home values dip and foreclosures continue. "Uncle" in this case would be "Uncle Sam" and his Federal Housing Administration (FHA) loans.

Airlines: Trouble For Consumers And Investors

By:: Anders Bylund - MortgageLoan.com | April 27, 2008

Air travel is getting less convenient and more expensive-but there doesn't seem to be anything anyone can do about it.

Goldman Sachs Mortgage Chief Steps Down

By:: MortgageLoan.com - MortgageLoan.com | April 27, 2008

The head of Goldman Sachs' mortgage department, Daniel Sparks will leave his post for personal reasons, the company revealed on Friday.

Are Multiple Inquiries Killing Your Credit?

By:: Greg Mischio - MortgageLoan.com | April 26, 2008

A common fear is that multiple inquiries on your credit report will lower your score. That's partially true, based on who's doing the inquiring. If you're shopping for a car or home loan, inquiries won't lower your score. But if a landlord or credit card company takes a peek at your credit report, it's a different story.

Is Debt Counseling Right for You?

By:: Catherine Brock - MortgageLoan.com | April 26, 2008

Debt counseling can help those who have no other options, but there are risks involved.

Saving During a Recession

By:: Catherine Brock - MortgageLoan.com | April 25, 2008

Don't let an economic recession do more damage than it has to. You can still keep saving even when times are tough.

Is The Credit Crunch Killing Car Loans?

By:: Greg Mischio - MortgageLoan.com | April 25, 2008

The subprime mortgage crisis has claimed many victims during the last year. The latest casualty involves a head-on collision with car loans.

Understanding Cash back Mortgage Refinance Loans

By:: Catherine Brock - MortgageLoan.com | April 25, 2008

Learn how to raise the money you need by leveraging your home with a cash back mortgage refinance loan.

Inflation Fears Push Up Mortgage Rates

By:: MortgageLoan.com - MortgageLoan.com | April 25, 2008

Rates on 30-year mortgages topped 6 percent for the first time in six weeks as financial markets grew more worried about rising inflation pressures.

Rate Update 2008-04-25: Rates Up Despite Stock Weakness

By:: Paul King - MortgageLoan.com | April 25, 2008

Rates were up this morning despite weakness in the sttock market. Rates should increase today by .125 to the points.

Getting The Most From Your 401(k)

By:: Anders Bylund - MortgageLoan.com | April 24, 2008

A 401(k) can be your best friend when planning for a comfortable retirement. Learn how to use this powerful tool.

Mortgage Applications Volume Sinks as Rates Soar

By:: MortgageLoan.com - MortgageLoan.com | April 24, 2008

Application for mortgages plunged during the week ending April 18, with surging interest rates contributing to fewer purchases and less refinancing, a weekly application survey by the Mortgage Bankers Association (MBA), revealed.

Rate Update 2008-04-24: Rates Up On February Adjustment to Durable Goods Orders

By:: Paul King - MortgageLoan.com | April 24, 2008

Bonds opened down today despite a weaker than expected Durable Goods orders report. Rates will likely increase by .375 to price.

Types of FHA Loans

By:: Catherine Brock - MortgageLoan.com | April 23, 2008

The Federal Housing Administration (FHA) has quietly supported the dream of homeownership for more than 70 years. Mortgage loans available through the FHA serve low- to middle-income homeowners and homebuyers.

Bank of America to Tighten Mortgage Standards

By:: MortgageLoan.com - MortgageLoan.com | April 23, 2008

Bank of America (NYSE:BAC) on Tuesday outlined proposed plans to implement new lending guidelines for its consumer mortgage business ' as soon as is practical' following the completion of its proposed acquisition of Countrywide Financial Corp (NYSE: CFC).

Rate Update: 2008-04-23: Rates Tick Up on Stock Gains

By:: Paul King - MortgageLoan.com | April 23, 2008

Mortgage rates are up again as the stock market posted gains. Rates should increase by approximately .125 to the points.

Coping with Job Loss

By:: Tom Kerr - MortgageLoan.com | April 22, 2008

Homeowners who have defaulted on a mortgage are not the only victims of the subprime crisis. Workers in the subprime mortgage sector have lost their jobs as the industry has crumbled. These workers can find new jobs, but they'll need to be persistent and innovative.

Fed Champions Clearer Mortgage Standards

By:: MortgageLoan.com - MortgageLoan.com | April 22, 2008

Federal Reserve Board Governor Randall Kroszner has called for greater transparency in an industry bugged down by unease and uncertainty.

Rate Update 2008-04-22: Rates Up As Stocks Markets Post Losses

By:: Paul King - MortgageLoan.com | April 22, 2008

Bonds were up today on stock market weakness. Earnings news on Wall Street prompted stock selling today, bringing treasury bond prices up. We'll see a lift in improvement by .25 to price.

How to Apply for an FHA Loan

By:: Tom Kerr - MortgageLoan.com | April 21, 2008

FHA loans offer many advantages to homeowners who qualify for these low-cost mortgages. Before applying for one, it helps to know what the requirements are, and how to improve your chances of getting approved without problems or delays.

Treasury Secretary Gets Into The Mortgage Reform Act

By:: Tom Kerr - MortgageLoan.com | April 21, 2008

A plan to completely overhaul the financial system would make the U.S. Treasury the main watchdog and "cop" for a wide range of financial agencies and institutions. But the controversial plan has strong opposition.

Freddie To Purchase 'Conforming Jumbo' Loans

By:: MortgageLoan.com - MortgageLoan.com | April 21, 2008

Freddie Mac announced on Thursday that it would finance $10 billion to $15 billion in large mortgages called Jumbo Loans from four of the largest U.S mortgage lenders.

Rate Update 2008-04-21: Quiet Week Ahead for Rates?

By:: Paul King - MortgageLoan.com | April 21, 2008

Bonds are down Monday despite stock market losses. Rates, however should improve by up to half of a discount point due to strength in bonds left over from last Friday afternoon.

All About Debt Consolidation Loan Agencies

By:: Catherine Brock - MortgageLoan.com | April 20, 2008

When times are tough, you need to know all your options. Here's your chance to find out what a debt consolidation agency is, and how it can help you get out of debt.

Paying Student Loans With Home Equity

By:: Greg Mischio - MortgageLoan.com | April 20, 2008

When students graduate from college, they begin to enjoy the fruits of their labors. Many land good jobs, and some buy new homes. After a few years of home ownership, if the market is rising, they may also eyeball their student loans, and consider the pros and cons of using a home equity loan to pay off their debts.

Car Dealerships and Bad Credit Loans

By:: Greg Mischio - MortgageLoan.com | April 18, 2008

Searching for a car can be an exciting process. If you have bad credit, however, you'll need to temper your enthusiasm with caution if you plan to ask a car dealership for an auto loan.

MGIC Reports 1Q Loss

By:: MortgageLoan.com - MortgageLoan.com | April 18, 2008

The nation's largest mortgage insurer, MGIC Investment Corp., lost $34.4 million in the first quarter as it paid out more claims with more homeowners struggling to meet their mortgage payments.

Rate Update 2008-04-18: Stock Market Up, Interest Rates Up

By:: Paul King - MortgageLoan.com | April 18, 2008

Rates increased again on Friday on stock market strength. Expect an increase of .375 to the points today.

Three Top Tax Scams

By:: Catherine Brock - MortgageLoan.com | April 17, 2008

The IRS recently published its "Dirty Dozen," a list of the top tax scams. Some of them are used to con taxpayers like you, while others are employed to con the IRS itself.

FBI in Mortgage Fraud Probe

By:: MortgageLoan.com - MortgageLoan.com | April 17, 2008

The FBI is currently investigating cases of potential fraud in the U.S home mortgage industry, with FBI Director Robert Mueller saying, there's a been a "tremendous surge" in mortgage fraud cases, with the trend likely to continue.

Rate Update 2008-04-17: Mortgage Rates Up on Inflation Woes

By:: Paul King - MortgageLoan.com | April 17, 2008

Bonds opened down today as weakness from yesterday's market carried over into today's trading. Rates should increase by about .375 to price today.

Students Loans and Bad Credit

By:: Greg Mischio - MortgageLoan.com | April 16, 2008

Going to college is a time to grow intellectually, but many critical lessons extend beyond the classroom. Undergraduates with bad credit will learn that lenders regard them very differently when it comes to granting student loans.

Fannie and Freddie Pose Risk to US Economy

By:: MortgageLoan.com - MortgageLoan.com | April 16, 2008

An S&P report, published on Monday, further exasperated the plight of stricken homeowners by estimating the potential bill to U.S taxpayers to bail out Wall Street firms hit by the credit crisis could grow to as much as $400 billion. With Fannie Mae (FNM) and Freddie Mac (FRE) added to the equation, any rescue package could pose significant economic risks to the United States.

Rate Update 2008-04-16: Rates Up On Strong Industrial Production

By:: Paul King - MortgageLoan.com | April 16, 2008

Rates were up today on stock market strength and strong industrial production data. Mortgage rates will increase by .25 to price.

Is Refinancing the Answer to Credit Card Debt?

By:: Greg Mischio - MortgageLoan.com | April 15, 2008

There are two ways to overcome credit card debt. The first is refinancing your home, and using a new mortgage as a debt consolidation loan. The second is to modify your behavior and pay off your credit card debt slowly.

3 Cities Added to Watch List of Declining Markets

By:: MortgageLoan.com - MortgageLoan.com | April 15, 2008

Boston, Cape Cod and the South shore have been added to a watch list of declining real estate markets by six of the nation's major insurers where they seek more stringent lending requirements.

Rate Update 2008-04-15: Rates Up on PPI News

By:: Paul King - MortgageLoan.com | April 15, 2008

Rates were up today on renewed inflation concerns. Stocks were also down in trading today. Rates should increase by .375 to price today.

Pros and Cons of a Nationwide Mortgage Guild

By:: Tom Kerr - MortgageLoan.com | April 14, 2008

Treasury Secretary Henry Paulson, Jr. has announced plans to establish stringent national licensing standards for mortgage brokers. While many embrace the idea, others say that it will be a disservice to both brokers and American consumers alike. Some say it will make no difference at all.

Men in Charge: Protecting Your Wife

By:: Catherine Brock - MortgageLoan.com | April 14, 2008

Women have come a long way in the last 50 years, but the number of widows living in poverty is still surprisingly high.

Homeowners Who Walkaway Will Feel Pain

By:: MortgageLoan.com - MortgageLoan.com | April 14, 2008

Mortgage Lenders, Fannie Mae and Freddie Mac have issued a warning to persons looking to join the growing number of struggling homeowners to "walkaway" from their mortgages.

Rate Update 2008-04-14: March Retail Sales Data Stronger Than Expected

By:: Paul King - MortgageLoan.com | April 14, 2008

The market opened Monday down on stronger than expected economic news. Rates should increase today by about .125 to the points.

"Rescue" Scams Add to Homeowner Woes

By:: MortgageLoan.com - MortgageLoan.com | April 12, 2008

Crooks, hustlers, con artists…call them what you will, but a new breed of opportunists have crawled out of the woodwork to steal what little cash, troubled home owners may still have left.

Four Ways to Keep the Auditor Away

By:: Greg Mischio - MortgageLoan.com | April 11, 2008

As April approaches, taxpayers across the land have begun to shake. Despite the prospect of tax refunds and rebates, the specter of an IRS audit strikes fear into the heart of virtually any American. Here are some tips to keep the auditor far from your door.

Three Alternatives to Home Equity Loans

By:: Greg Mischio - MortgageLoan.com | April 11, 2008

With the slumping real estate market ravaging home values, consumers strapped for cash are considering financial tools other than home equity loans. Here's an in-depth look at three alternatives to traditional home equity loan financing.

Investing: Fundamental vs. Technical Analysis

By:: Anders Bylund - MortgageLoan.com | April 11, 2008

There are a variety of techniques to learn if you're going to invest in the stock market. Whether you take a fundamental or technical approach depends on whether you have a short- or long-term horizon.

White House Unveils Foreclosure Aid

By:: MortgageLoan.com - MortgageLoan.com | April 11, 2008

As Senate toiled away drawing up a bipartisan plan designed to stave off the effects of the credit crisis, the Bush administration on Wednesday announced plans to help homeowners fend off foreclosure.

Rate Update: 2008-04-11: Bonds Up on Stock Market Losses

By:: Paul King - MortgageLoan.com | April 11, 2008

The bond market opened up today on stock market losses and weak economic data. However mortgage rates should increase today slightly due to weakness in bonds yesterday. Expect .125 to price increase.

Rate Update: 2008-04-09: FOMC Minutes Good News For Rates

By:: Paul King - MortgageLoan.com | April 11, 2008

Bonds were up on stock market losses today. Rates should be unchanged today due to weakness yesterday.

Saving Our Homes: Plans to End the Subprime Crisis

By:: Catherine Brock - MortgageLoan.com | April 10, 2008

More than a year into the subprime crisis, the mortgage industry hasn't shown any convincing signs of recovery. Politicians say that more needs to be done to help homeowners in distress, and they have some big ideas for action.

Escape Financial Quagmire with Debt Consolidation

By:: Catherine Brock - MortgageLoan.com | April 10, 2008

You can't continue to avoid the prospects of bankruptcy and foreclosure forever. Take action now by considering a strategic debt consolidation.

Ins and outs of Bad Credit Second Mortgages

By:: Tom Kerr - MortgageLoan.com | April 10, 2008

With a recession waiting in the wings to be officially acknowledged, American consumers find mortgage credit in short supply at a time when they need it most. For many, the answer to their problems may lie in procuring a "bad credit" second mortgage.

S&P Lowers Ratings for 4 Mortgage Insurers

By:: MortgageLoan.com - MortgageLoan.com | April 10, 2008

Amid rumored losses within the mortgage insurance business, Standard & Poor's has lowered the credit rating for four guarantors.

Rate Update: 2008-04-10 Bonds Down On Stock Market Gains

By:: Paul King - MortgageLoan.com | April 10, 2008

Bonds opened up today but have fallen as the stock market posted gains.

Building your Portfolio: No Better Time Than Now

By:: Anders Bylund - MortgageLoan.com | April 09, 2008

Don't give up on your portfolio just because the market looks bad. This could be the perfect time to invest.

Refinancing Woes? Meet the Parents!

By:: Catherine Brock - MortgageLoan.com | April 09, 2008

When you're facing foreclosure and you don't qualify for a refinance, consider asking mom and dad to help you out of the jam.

Mortgage Firms Pledge Help

By:: MortgageLoan.com - MortgageLoan.com | April 09, 2008

Ohio Governor, Ted Strickland today announced that nine mortgage loan servicers agreed to sign a 'compact to Help Ohioans Preserve Homeownership,' the first agreement of its kind in the nation.

Mortgage Applications Rise

By:: MortgageLoan.com - MortgageLoan.com | April 09, 2008

Applications for US mortgages, fueled by ongoing increase in activity for government-backed loan programs jumped 5.4 percent in the week ending April 4, according to data released by the Mortgage Bankers Association on Wednesday.

Remodeling During A Recession

By:: Anders Bylund - MortgageLoan.com | April 08, 2008

Are you stuck with an investment property and a mortgage? Make the best of the situation-move in.

Consumer Crisis: The Fall of Bear Stearns

By:: Tom Kerr - MortgageLoan.com | April 08, 2008

JP Morgan's bailout of Bear Stearns curtailed an imminent spillover that threatened to take down other major financial institutions. But the average consumer didn't benefit directly from the rescue. American taxpayers may, in fact, wind up paying for all these bailouts over time.

Mortgage Association Can't Pay Own Mortgage

By:: MortgageLoan.com - MortgageLoan.com | April 08, 2008

One can't help but chuckle at the irony, but according to recent reports, the Mortgage Bankers Association is having trouble paying the mortgage on its new building in Washington.

Rate Update: 2008-04-08:Fed Voices Concern About "prolonged and severe economic downturn''

By:: Paul King - MortgageLoan.com | April 08, 2008

The FOMC Minutes were released today showed Fed officials convinced of an economic contraction in the first quarter, and concerned about a protracted downturn in subsequent months.

Mind Your Tax Breaks!

By:: Catherine Brock - MortgageLoan.com | April 07, 2008

It's time to stop ignoring the impending tax deadline and start thinking about what you owe. But here's the good news: This year, you might qualify for some extra breaks.

Don't Become A Negative Home Equity Statistic

By:: Tom Kerr - MortgageLoan.com | April 07, 2008

Every month, American homeowners and consumers are setting new records for being financially unstable. To avoid becoming a participant in those dismal numbers, you must be vigilant. Learn to recognize the symptoms, and take proactive protective measures before it's too late.

Capitol Hill to Tackle Mortgage Mess

By:: MortgageLoan.com - MortgageLoan.com | April 07, 2008

The week sees the mortgage crisis take centre stage in the Senate as a bill aimed at helping homeowners and businesses affected by the subprime debacle comes up for a key procedural vote.

Rate Update:(2008-04-07)

By:: Paul King - MortgageLoan.com | April 07, 2008

Bonds are down today on stock market gains. Rates however should stay neutral today due to strength in Friday afternoon bond market trading.

Recession Reality Near as Bankruptcies Rise

By:: MortgageLoan.com - MortgageLoan.com | April 06, 2008

All signs point to a U.S. economy recession as bankruptcy filings in states severely affected by the housing crunch witnessed a sharp rise in March.

Help your Teens Become Millionaires

By:: Catherine Brock - MortgageLoan.com | April 04, 2008

Parents always want their kids to grow up and be successful. It's even better if that success includes a seven-figure savings account.

Help your Teens Become Millionaires

By:: Catherine Brock - MortgageLoan.com | April 04, 2008

Parents always want their kids to grow up and be successful. It's even better if that success includes a seven-figure savings account.

Recession-proof Your Portfolio

By:: Anders Bylund - MortgageLoan.com | April 04, 2008

The next recession is coming on strong, but you're not helpless. Here's how to protect your investment portfolio in tough economic times.

Debt Problems? Learn the Art of Frugality

By:: Greg Mischio - MortgageLoan.com | April 04, 2008

Life is all about balance, especially when it comes to finances. Overspend your hard-earned dollars, and you could wind up in need of a debt consolidation loan. On the other hand, while being frugal will keep you out of the red, you need to be careful not to become a miser in the process.

Getting Your Money from Reverse Mortgages

By:: Tom Kerr - MortgageLoan.com | April 04, 2008

Reverse mortgages pay older homeowners for their home equity. But how you get your cash depends upon which mortgage options you choose. Decide what's best for your specific circumstances; then find a lender with a reverse mortgage that fulfills those needs.

Fannie Mae Tightens Loan Criteria

By:: MortgageLoan.com - MortgageLoan.com | April 04, 2008

Fannie Mae, largest U.S. mortgage-finance company, has announced the introduction of a new minimum 580 FICO for all eligible loans. It will no longer buy most loans made to borrowers with credit scores below 580 as it again reacts to the slumping housing market by tightening its lending standards.

Rate Update: Rates Down Friday On Weaker THan Expected Unemployment 2008-04-04

By:: Paul King - MortgageLoan.com | April 04, 2008

Bonds were up today on weaker than expected employment figures. Stocks are down and rates should improve today by about .375 to price.

FHA Raises Limits on Conforming Mortgages

By:: Tom Kerr - MortgageLoan.com | April 03, 2008

The Federal Housing Administration (FHA) runs several programs that rely on FHA loan insurance to protect lenders from defaults. These initiatives promote home ownership for American families. Now that allowable loan amounts have been increased, approximately a quarter of a million more buyers should reap the benefits in 2008.

New Jumbo Loan Limits May Ignite a Niche Market

By:: Tom Kerr - MortgageLoan.com | April 03, 2008

Higher limits on Fannie Mae and Freddie Mac loans may spark sales of high-end homes by making it easier and cheaper to finance them. The news is good for both buyers and sellers, and may inspire a surge in sales in a market that's been stagnant for months.

Credit Cards: When More is Merrier

By:: Greg Mischio - MortgageLoan.com | April 03, 2008

At a time when consumers with credit problems have wreaked havoc on the mortgage industry, it's not surprising to find that many people carry more than one credit card. However, when you consider the advantages, having multiple charge cards makes sense.

Mortgage Application Volumes Drop

By:: MortgageLoan.com - MortgageLoan.com | April 03, 2008

The volume of mortgage applications filed in the week ending March 28 tumbled 28.7 percent, according to a survey revealed by the Mortgage Bankers Association's weekly survey.

Rate Update: Rates Down On Weekly Unemployement Report 2008-04-03

By:: Paul King - MortgageLoan.com | April 03, 2008

Bonds were up today after the weekly unemployment report showed weaker than expected data. Expect rates to improve by a quarter to the points.

Falling Prices? Keep Your Home Value Rising

By:: Greg Mischio - MortgageLoan.com | April 02, 2008

With the news that Americans' percentage of equity in their homes has fallen below 50 percent, homeowners are looking for ways to increase the value of their properties. The methods that are most popular are cost-effective home improvements.

Senate Agree on Mortgage Bill

By:: MortgageLoan.com - MortgageLoan.com | April 02, 2008

Despite varying points of view from both the Democrats and Republicans on how best to tackle the nation's housing related economic crisis, Senate today voted to consider legislation aimed at helping millions of homeowners avoid foreclosure.

Rate Update 2008-04-01: Rates Jump Up on Strong ISM Report

By:: Paul King - MortgageLoan.com | April 02, 2008

Mortgage rates are up today on stock market gains. Rates can be expected to increase today by as much as 50 basis points

Rate Update: Rates Rise On Sanguine Stock Market 2008-04-02

By:: Paul King - MortgageLoan.com | April 02, 2008

Rates are again up today, as the stock market posted gains again.

Avoid Penalty Points for Missed Payments

By:: Greg Mischio - MortgageLoan.com | April 01, 2008

The fallout from delinquent subprime mortgages continues to illustrate how inter-connected our financial system truly is. Because of a penalty known as "universal default," a late payment on a mortgage can cause the interest rate on your credit card to rise.

Stop the Bleeding with Debt Consolidation

By:: Catherine Brock - MortgageLoan.com | April 01, 2008

When charge cards become a way of life, it's time to make some serious changes. Before you jump to debt consolidation as a solution, make sure that you're 100 percent committed to living without the plastic.

Jackson sets resignation date

By:: MortgageLoan.com - MortgageLoan.com | April 01, 2008

As expected, Housing and Urban Development Secretary Alphonso Jackson today announced his decision to step down from his post on April 18.

Bad Credit? Improve your Score!

By:: Greg Mischio - MortgageLoan.com | March 31, 2008

A person is not defined by a fall from grace, but by how they react after the fall. If you've encountered some problems with bad credit, take some specific steps to rebuild your credit score.

HUD secretary to resign

By:: MortgageLoan.com - MortgageLoan.com | March 31, 2008

Controversial Housing and Urban Development Secretary, Alphonso Jackson is expected to announce his resignation Monday following allegations of cronyism.

rate updates: 2008-03-03: Rates Down As Week Begins

By:: Paul King - MortgageLoan.com | March 31, 2008

Bonds were up today in anticipation of the week's reports. We should see an improvement to mortgage rates by up to .375 to price today.

Congress and Treasury to tackle mortgage crisis

By:: MortgageLoan.com - MortgageLoan.com | March 30, 2008

Congress are racing to push through an array of election-year housing measures designed to help homeowners caught in the mortgage meltdown.

Candidates to tackle mortgage crisis

By:: MortgageLoan.com - MortgageLoan.com | March 29, 2008

As the race to the White House heats up, the contenders for the Presidency have aired their reactions to the mortgage crisis, with Democrat Barack Obama mocking Senator John McCain for urging government restraint in responding to the mortgage mess.

Three Tax Rebate Tips

By:: Greg Mischio - MortgageLoan.com | March 28, 2008

The United States government has applied the jumper cables to our sagging economy, and it's hoping that the economic stimulus package will give America the spark it needs to start running again. Here are some details about you and the rebate.

Equity Loans next up in credit crunch showdown

By:: MortgageLoan.com - MortgageLoan.com | March 28, 2008

While most Americans may have been lulled into a false sense of security by heavy borrowing, they're about to rocked by the harsh realities of the credit crunch as recent figures show they owe a staggering $1.1 trillion on home equity loans.

Rate Update 2008-03-02: Rates Down in Afternoon Trading

By:: Paul King - MortgageLoan.com | March 28, 2008

Bonds are up today and mortgage rates are trending downward in afternoon trading. Expect rates to improve by approximately .25 to price.

Boost Your Finances with Savings

By:: Catherine Brock - MortgageLoan.com | March 27, 2008

Having no savings will eventually break you down financially. Learn to be proactive and start saving today.

Protests at Bear Stearns offices

By:: MortgageLoan.com - MortgageLoan.com | March 27, 2008

The fun and games continue at Bear Stearns where a handful of over-excited protestors got into the troubled investment bank's Manhattan offices during a spirited protest of the government's rush to aid the securities firm.

Rate Update 2008-03-27: Rates Up in Anticipation

By:: Paul King - MortgageLoan.com | March 27, 2008

Mortgage rates opened up despite no relevant economic data. Rates increased today by about .25 to price.

Bundled Mortgage Fees: More Trouble Than They're Worth

By:: Tom Kerr - MortgageLoan.com | March 26, 2008

"Bundling" has caused problems for many homeowners when their closing costs are grouped into a flat fee without itemization. Supporters of the practice claim it saves consumers money. Officials, however, are investigating it in the interest of consumer protection.

Reverse Mortgages and Aggressive Marketing

By:: Catherine Brock - MortgageLoan.com | March 26, 2008

Homeowners funded more than 130,000 reverse mortgages last year. Unfortunately, some of them were pressured into programs that didn't meet their expectations due to questionable advertising practices.

Home prices fall - Fannie Mae reacts

By:: MortgageLoan.com - MortgageLoan.com | March 26, 2008

It's widely acknowledged that housing is a key component of the economy. In fact, housing represents 15.2 percent of the U.S gross national product so worried glances must have been exchanged when a recent survey released earlier today revealed home prices in 20 U.S metropolitan areas fell in January by the most on record.

Home prices fall - Fannie Mae reacts

By:: MortgageLoan.com - MortgageLoan.com | March 26, 2008

Rate Update 2008-03-25: Rates Neutral

By:: Paul King - MortgageLoan.com | March 26, 2008

Bonds were neutral to positive today, recovering some of yesterdays losses in the morning and later retreating. Rates should improve or stay the same, at most by an .125 of a point.

Rate Update 2008-03-26: Rates Down On Weak Economic

By:: Paul King - MortgageLoan.com | March 26, 2008

Mortgage rates are down slightly on weaker than expected economic news. Rates should improve by .25 to price.

Recession Advice: Maximize your Investment Return

By:: Anders Bylund - MortgageLoan.com | March 25, 2008

With a recession looming on the horizon, investors need to rethink how they allocate their investment dollars.

Mortgage Fallout: Lawyers Getting Into the Act

By:: Greg Mischio - MortgageLoan.com | March 25, 2008

There's plenty of blame to go around in the subprime crisis, and it's only natural that the finger pointing would eventually spill over to the legal system. Lawyers are licking their chops-and imagining their fees-as they enter the fray.

Debting: The American Way of Life

By:: Catherine Brock - MortgageLoan.com | March 24, 2008

Increasingly, American consumers are finding themselves forced to use credit cards just to get by until the next paycheck arrives.

Appraisal Watchdog to Oversee Your Home's Equity

By:: Tom Kerr - MortgageLoan.com | March 24, 2008

A new watchdog agency is being created to ensure that property appraisals are objective, not tainted by lenders or other parties who may have a vested interest in the valuations.

Rates Update 2008-03-24: Rates Up On Strong Housing

By:: Paul King - MortgageLoan.com | March 24, 2008

Mortgage rates are higher on a stronger than expected economic report and a stock market rally. Rates will increase by a half point over Thursday.

Refinance and Be a Happy Condo Owner

By:: Greg Mischio - MortgageLoan.com | March 19, 2008

Real estate is a lot like life: Sometimes, when one door closes, another one opens. Case in point: The slumping real estate market has hurt many property owners, but it has also provided a real opportunity for people looking to buy a condominium for a vacation home.

Game Show Earnings: A Taxing Situation

By:: Catherine Brock - MortgageLoan.com | March 19, 2008

Winning big has its drawbacks. If you're planning an appearance on Wheel of Fortune, or any game show for that matter, understand the tax consequences of hitting the jackpot.

rate update: 2008-03-19: Bonds Up Rates Down to Neutral

By:: Paul King - MortgageLoan.com | March 19, 2008

Bonds were up this morning but have given back most of the early gains at this point today. Rates should improve about 25 basis points over yesterday.

Celebrity Bankruptcy: Fame and Misfortune

By:: Catherine Brock - MortgageLoan.com | March 18, 2008

When celebrities are best known for their roles in bankruptcy court, it's a sure sign that they've made some major financial missteps.

Protect Your Savings Accounts

By:: Catherine Brock - MortgageLoan.com | March 18, 2008

For consumers, the line between a bank and a brokerage can be blurry. Unfortunately, not knowing the difference can put your savings at risk.

Rate Update 2008-03-18 Fed Cuts Rate

By:: Paul King - MortgageLoan.com | March 18, 2008

Mortgage bonds are selling off this afternoon after the Federal Reserve announced a cut to the Fed Funds Rates of .75, lower than the full 1% expected by some.

In Honor of St. Patrick: Consolidate Debt!

By:: Greg Mischio - MortgageLoan.com | March 17, 2008

In the spirit of St. Patrick's Day, create your own green by committing to smart money management, which includes budgeting and taking out a debt consolidation loan.

HELOC: The Open-Ended Solution

By:: Greg Mischio - MortgageLoan.com | March 17, 2008

When planning your financial future, the one thing you can count on is change. Unexpected life events can make the best-laid plans go awry. Flexibility is critical, and it's the main reason people choose an open-ended home equity line of credit (HELOC).

Politics and Mortgages: Know Your Candidates

By:: Catherine Brock - MortgageLoan.com | March 17, 2008

The state of the mortgage industry is high on the list of economic problems facing the U.S. today, and the presidential candidates are already talking about their proposed solutions.

International Homeowners Feeling U.S. Housing Pain

By:: Tom Kerr - MortgageLoan.com | March 17, 2008

Although the dollar hit an all-time low against the euro in late February, Europe is having its own mortgage and real estate problems. When it comes to subprimes, mortgage meltdowns, and foreclosures, the financial headlines in Europe look pretty much the same as those in the U.S.

Mortgage Rates: A Mind of Their Own

By:: Tom Kerr - MortgageLoan.com | March 17, 2008

In a move that's a departure from history, mortgage interest rates seem to be moving independently rather than in tandem with cuts of other influential lending rates by the Fed.

Rate Update: Bonds Rally, Stock Markets Shudder (2008-03-17)

By:: Paul King - MortgageLoan.com | March 17, 2008

Rates were down this morning as the bond markets reacted positively to stock market losses, and worse than expected February Industrial Production report.

The New Dinosaur: Cash Out Refinancing

By:: Greg Mischio - MortgageLoan.com | March 14, 2008

For homeowners, a cash-out refinance used to be the pot of gold at the end of the rainbow. In the days of sky-rocketing home values, this type of loan was an easy source of cash. But as the declining number of refinances indicates, times have definitely changed.

Life Gets Easier for Bad Credit Loan Holders

By:: Greg Mischio - MortgageLoan.com | March 14, 2008

The bugle has sounded and the cavalry is on the way for bad credit loan holders. Following a rash of foreclosures and loan defaults, mortgage companies have now begun negotiating easier terms with subprime borrowers.

Bad Credit? Learn How to Monitor

By:: Greg Mischio - MortgageLoan.com | March 14, 2008

If you have bad credit, much of your financial future depends on your credit report. Monitoring it will help you ensure its accuracy and get a sense of when the time is right to apply for a loan.

Rate Updates: 2008-03-14: CPI Unchanged, Rates Improve

By:: Paul King - MortgageLoan.com | March 14, 2008

Rates were down today after consumer prices from February were reported with much weaker than expected numbers. Rates should improved by around .375 to price.

Foreclosure Prevention Act to Help with Refinancing

By:: Tom Kerr - MortgageLoan.com | March 13, 2008

To help distressed homeowners avoid foreclosure, Democratic senators have proposed the "Foreclosure Prevention Act of 2008." The bill would help borrowers by potentially lowering the amounts they owe, and would free up more money to pay for the mortgage refinance of subprimes.

Rate Update: Rates Up Anticipating CPI Woes 2008-03-13

By:: Paul King - MortgageLoan.com | March 13, 2008

Bonds are down today despite weaker than expected economic news. You may see rates improve slightly today, but this is a result of gains from yesterday.

Mortgage Problems? Don't Hide Away!

By:: Catherine Brock - MortgageLoan.com | March 12, 2008

Even though workout programs are becoming more common, many homeowners still avoid contacting their lenders when they can't make their mortgage payments.

Rate Updates: Mortgage Rates Down (2008-03-11)

By:: Paul King - MortgageLoan.com | March 12, 2008

Wednesday's market is up, with rates improving around .375 to the points, despite stock market gains and with no relevant news released.

Project Lifeline: New Short-term Hope for Mortgages

By:: Tom Kerr - MortgageLoan.com | March 11, 2008

Under a new program called Project Lifeline, some foreclosure proceedings will be postponed for 30 days. While the effort has a hopeful name, it may provide only temporary help and hope for seriously delinquent borrowers.

Don't be Clueless About Second Mortgages

By:: Greg Mischio - MortgageLoan.com | March 11, 2008

You don't need to be a private eye to find the best second mortgage. Lenders leave you plenty of clues about their products. Take a good look at them, and learn how second mortgages work before you make any decisions.

Rate Update: Bonds Down as Fed Injects $200 Billion Into Markets

By:: Paul King - MortgageLoan.com | March 11, 2008

The stock market posted strong gains today, following a surprise move by the Fed to add further liquidity to the markets.

Home Equity Loan for Investment Property

By:: Catherine Brock - MortgageLoan.com | March 10, 2008

Excess inventory on the condo market has created advantages for opportunistic buyers. A home equity loan on your primary residence may be the ticket to help fund your new vacation or investment condo.

Second Mortgages Available Locally

By:: Greg Mischio - MortgageLoan.com | March 10, 2008

Don't believe the real estate hype. While the housing market has taken some significant lumps, there are still parts of the country where property values are doing quite well. If you're fortunate enough to live in one of them, you can still tap your home equity for a second mortgage.

Rate Update: Recession Fears Bring Rates Up (2008-03-10)

By:: Paul King - MortgageLoan.com | March 10, 2008

Bonds were up today on recession fears. Rates should improve at least 25 basis points over Friday afternoon.

Tapping 401(k) with a Credit Card

By:: Catherine Brock - MortgageLoan.com | March 07, 2008

A financial services company offers an innovative program that streamlines the 401(k) loan, just in case you're hit with a financial emergency.

Don't Count on Credit Cards for Relief

By:: Greg Mischio - MortgageLoan.com | March 07, 2008

Free market theorists believe that the fallout from the subprime crisis will result in a natural correction: People will curb their spending habits and save money until they're out of the red. But instead of saving, some homeowners are turning to credit cards for relief.

Home Equity: If You Use It, You Lose It

By:: Catherine Brock - MortgageLoan.com | March 07, 2008

Home equity is a powerful financial tool, as well as a resource that's difficult to replace.

february-unemployment-levels-very-weak-bonds-improve

By:: Paul King - MortgageLoan.com | March 07, 2008

With the release of February's weak unemployment data, bond markets yesterday bonds have improved today.

Student Loans: Outlook 2008

By:: Catherine Brock - MortgageLoan.com | March 06, 2008

Scandal rocked the student loan industry in 2007-what's on tap for 2008?

Trouble for Second Mortgage Holders

By:: Greg Mischio - MortgageLoan.com | March 05, 2008

The subprime mess has hit lenders and homeowners hard. To stop the bleeding, lenders are reconsidering their instinctive reaction to foreclose on borrowers, particularly second mortgage holders.

Credit Crisis will Affect Student Loans

By:: Greg Mischio - MortgageLoan.com | March 05, 2008

Many students enter school with the hopes of bettering themselves and earning more income. A recent announcement by Sallie Mae that they'll no longer make loans to subprime borrowers may throw a wrench in the goals of many students, particularly those with bad credit.

Help with Refinancing from Municipal Bonds

By:: Catherine Brock - MortgageLoan.com | March 04, 2008

Politicians and economists are clamoring to come up with a solution to the nation's mortgage crisis. One measure that's currently being considered will allow states to issue tax-free bonds to fund mortgage refinances.

More Stringent Requirements for Second Mortgages

By:: Catherine Brock - MortgageLoan.com | March 04, 2008

Second mortgage rates are dropping, but lenders are tightening up the qualification requirements for home equity loans and lines of credit.

Three Debt Consolidation Ideas for 2008

By:: Greg Mischio - MortgageLoan.com | March 03, 2008

Debt is considered being "in the red," but for most consumers, the clouds hovering over their heads feel black. The burden of debt can weigh down even the most optimistic person. There's hope, however, if you follow a few simple debt consolidation ideas.

Three Ways to Spend Your Tax Rebate

By:: Greg Mischio - MortgageLoan.com | March 03, 2008

The 2008 stimulus package has been signed, sealed, and delivered. Top lawmakers from both sides of the aisle have agreed to pump more money into the economy. One way to use the money is to pay down your mortgage, or develop a debt consolidation plan.

Americans Irresponsible with Home Equity

By:: Tom Kerr - MortgageLoan.com | March 03, 2008

Some homeowners are washing their hands of mortgage debt. They simply mail their house keys to the bank, and let the lender worry about how to create tangible assets from properties that have no actual equity.

The Right Home Equity Strategy for Excess Cash

By:: Catherine Brock - MortgageLoan.com | March 03, 2008

Some experts tout the wisdom of paying off your mortgage early. Others say it's better to stash excess cash in an emergency fund. How do you know which strategy is right for you?

Refinancing: A Hot Trend for a Lucky Few

By:: Tom Kerr - MortgageLoan.com | March 03, 2008

"Refi Fever" has again swept across the land, and record numbers of homeowners are rushing to refinance and capture extra low interest rates. But many get turned away because of jumbo mortgages or low credit scores.

Refinancing Woes? Try a House Swap

By:: Catherine Brock - MortgageLoan.com | March 02, 2008

The emerging trend of house-swapping can be a strategy for downsizing your home and your mortgage.

Stellar Time For Home Equity Renovation Loans

By:: Tom Kerr - MortgageLoan.com | March 01, 2008

A depressed economy may not be good for the mortgage or housing markets, but it's a great time to renovate. Prices for building supplies are going down, contractors are hungry for work, and interest rates are ridiculously low, thanks to recent rate cuts.

Need Debt Consolidation? Try the SBA

By:: Catherine Brock - MortgageLoan.com | February 29, 2008

It's getting harder and harder for homeowners to tap into their home equity for purposes of debt consolidation. Eligible business owners may find their best alternative is an SBA loan.

Refinancing Alternative: Sell at Auction

By:: Greg Mischio - MortgageLoan.com | February 28, 2008

The word auction conjures up images of art at Sotheby's going for astronomical prices, or a fast-talking guy in a straw hat selling odds and ends at a frantic pace. In today's sagging real estate market, it can also apply to selling your home.

Rude Awakening Awaits Home Equity Loan Holders

By:: Tom Kerr - MortgageLoan.com | February 27, 2008

Countrywide and other financial institutions are notifying thousands of homeowners that their credit is shrinking as home prices sag. Some are revoking the entire line of credit, with little or no advance warning.

Diversify Your Portfolio: Invest Internationally

By:: Catherine Brock - MortgageLoan.com | February 26, 2008

As economic growth speeds up outside the U.S., it may be the right time to include some foreign equities in your portfolio. Since foreign markets don't necessarily move in the same direction as U.S. markets, it helps keep your portfolio diversified.

Bad Credit? Repair It With A Credit Card

By:: Greg Mischio - MortgageLoan.com | February 25, 2008

Do you have bad credit? Imagine that you're a baseball player up at bat. Bad credit is like having two strikes against you. However, you're not out just yet, and there are ways to improve your situation. Instead of swinging a Louisville Slugger, you're going to use a credit card to get yourself out of a jam.

Avoid Foreclosure at any Price

By:: Tom Kerr - MortgageLoan.com | February 24, 2008

Foreclosures will adversely affect millions of people across the U.S. this year, with long-range personal and financial repercussions. If at all possible, avoid foreclosure-even if it requires drastic measures-in order to sidestep this homeowner catastrophe.

Four Ideas for Student Loan Consolidation

By:: Greg Mischio - MortgageLoan.com | February 23, 2008

To consolidate or not to consolidate? Hamlet might have asked this question if he had graduated from college with student loans. If you're considering a loan consolidation, you'd be wise to follow a few simple tips.

Home Equity: Understanding Bridge Loans

By:: Amelia R. Frost - MortgageLoan.com | February 22, 2008

You've found the perfect house for you and your family, but the house you're living in hasn't sold yet. Where are you going to get the money to make sure that the new house doesn't get away? A bridge loan, although risky, may get you through these troubled waters.

The Best Time for an Auto Loan Refinance

By:: Greg Mischio - MortgageLoan.com | February 21, 2008

Refinancing an auto loan is a lot like pistons firing on an engine. Unless the timing is right, everything will break down. If you're considering a car loan refinance, remember this, and you'll save big bucks as you travel down the financial freeway.

Understanding Yields on CDs

By:: Catherine Brock - MortgageLoan.com | February 20, 2008

CDs have rates and they have yields. Knowing the difference between the two could mean a few more dollars in your pocket.

Refinancing? Protect Yourself from Surprises at Closing

By:: Tom Kerr - MortgageLoan.com | February 19, 2008

If you plan to refinance your mortgage, it's important to understand the expenses involved. Otherwise, you may get to the closing table and have a rude awakening. Thanks to lots of relatively small costs that add up quickly, paying for a refinance can get surprisingly expensive.

Escape the Reset Crisis with a Refinance

By:: Tom Kerr - MortgageLoan.com | February 18, 2008

Pay attention to the details if you have an adjustable-rate mortgage (ARM). Many three-year ARMs are scheduled to reset during the next 18 months, and many homeowners aren't prepared for the drastic payment increase.

Credit Cards: Sometimes a Sensible Choice

By:: Greg Mischio - MortgageLoan.com | February 17, 2008

Most people cringe at the thought of debt-and justifiably so. Being heavily in the red can limit your purchasing power and potentially lower your credit score. But there are times when the use of debt, particularly credit cards, makes a great deal of sense.

Refinancing Your Auto Loan

By:: Amelia R. Frost - MortgageLoan.com | February 16, 2008

Many people don't realize that when interest rates drop, they can refinance their car loan just as they could their mortgage. It's an easy process that could save them substantial money every month.

Retirees: Tap Home Equity for Financial Security

By:: Tom Kerr - MortgageLoan.com | February 15, 2008

Many retirees fret about financial security, but those with accumulated equity can find peace of mind by tapping into it in one of two ways. Reverse mortgages and home equity loans both work well to provide retirement income.

Four Homeowner Tips for "Short Sales"

By:: Tom Kerr - MortgageLoan.com | February 14, 2008

As a last ditch effort to avoid foreclosure and the ruining of their credit ratings, homeowners sometimes ask lenders for permission to do a "short sale." This transaction may be beneficial to you, but first weigh the pros and cons to be sure.

Know Your Home Equity Loan Rights

By:: Rachel Terry - MortgageLoan.com | February 13, 2008

Demand for home equity loans has grown steadily in the past 20 years. Back in 1986, Congress eliminated the tax deduction for interest on consumer debt, but upheld the deduction on mortgages and loans backed by mortgages. If you obtain a home equity loan, it's important to understand the Home Equity Loan Consumer Protection Act so that you can go into your loan with your eyes wide open, and be protected.

Use Credit Cards for Giving Gifts

By:: Greg Mischio - MortgageLoan.com | February 12, 2008

Next to wrapping paper and ribbon, one of the most important holiday gift-giving tools is a credit card. If you paid cash for gifts during the holiday season, you may now be learning that credit cards would've been a smarter choice. They allow you to make and track purchases with ease-essential requirements if you want to prevent the holiday cheer from turning sour.

Hard Times for Bad Credit Mortgage

By:: Catherine Brock - MortgageLoan.com | February 11, 2008

Today's lending environment has fewer options for bad credit borrowers. If you have spotty credit, learn about the options for low-risk, federally-backed mortgages that won't surprise you with ever-rising interest rates.

Second Mortgage Loans for the Self-Employed

By:: Amelia R. Frost - MortgageLoan.com | February 10, 2008

Self-employed people may find getting an expansion loan a challenging task. However, there are several options available, including no-doc loans, second mortgages, or lines of credit that could provide the financial relief you need.

Home Equity Values Take the Plunge

By:: Greg Mischio - MortgageLoan.com | February 09, 2008

Home equity is eroding, and it's not just due to plunging real estate values. Homeowners have treated their properties like bank accounts instead of investments, resulting in less equity and loads of potential problems.

Refinancing? Figure out the Break-Even Period

By:: Tom Kerr - MortgageLoan.com | February 08, 2008

To do a realistic, cost-conscious mortgage refinance, first determine your break-even point, or how long it will take to start gaining a positive return on your investment of the costs of refinancing. With a calendar and a calculator-or help from your number-crunching lender-it's relatively easy.

When Not to Consolidate Student Loan Debt

By:: Greg Mischio - MortgageLoan.com | February 07, 2008

To a college graduate, the call to "consolidate" is almost as familiar as her school fighting song. But consolidating student loans might not be as warranted as it was in years past-especially in light of recent rate changes.

Five Common Car Purchasing Errors

By:: Greg Mischio - MortgageLoan.com | February 06, 2008

When learning to drive, many people practice in empty car lots or on country roads. When you're buying a car, you don't get to practice. You only get one shot-so be aware of five common car purchasing errors.

Avoiding 401(k) Pitfalls

By:: Catherine Brock - MortgageLoan.com | February 05, 2008

Make sure that your retirement years are truly golden by steering clear of these 401(k) investment no-nos.

Home Equity Loans Lose Business to FHA

By:: Catherine Brock - MortgageLoan.com | February 04, 2008

Federally guaranteed FHA mortgages are gaining momentum as lenders look to return to more traditional and conservative underwriting practices.

Solutions to Curb Post-Debt Consolidation Spending

By:: Greg Mischio - MortgageLoan.com | February 03, 2008

If you've recently closed on a debt consolidation loan, painful memories of those huge monthly bills are probably still fresh in your mind. Don't forget what happened; instead, learn from your mistakes and curb your post-debt consolidation spending.

Paying Mortgage on Credit Card a Risky Proposition

By:: Catherine Brock - MortgageLoan.com | February 02, 2008

A credit card feature that's designed for convenience could be getting some homeowners into deep financial trouble.

Taking Advantage of Bad Credit Mortgage Foreclosures

By:: Greg Mischio - MortgageLoan.com | February 01, 2008

"Buy low, sell high" is the mantra for Wall Street wizards, but it applies to the housing market, as well. When purchasing a property in foreclosure, it's important to do your homework to ensure that the investment is a good one.

Home Equity Loan: Beware of Mortgage Tax

By:: Catherine Brock - MortgageLoan.com | January 31, 2008

When taking out a home equity loan, several states require that you pay a mortgage recording tax. Don't get caught off-guard by this tax. Here's an example of how it works in New York City.

Refinancing and Interest Rate Lock-ins

By:: Tom Kerr - MortgageLoan.com | January 30, 2008

To lock or not is a question that plagues many consumers when they decide to refinance a loan. The rate might be yours for years, so it's advised that you make an informed and savvy decision.

Down Payment Considerations and Potential Hazards

By:: Tom Kerr - MortgageLoan.com | January 29, 2008

Coming up with a down payment is only half the challenge for homebuyers. Deciding how much to pay can be just as difficult, because of the significant financial consequences.

Four Questions to Ask Your Auto Loan Lender

By:: Greg Mischio - MortgageLoan.com | January 28, 2008

When you're making a big purchase like a car, take time to play 20 questions. It's important that you understand a deal from top to bottom. The following four questions cover some critical areas.

Using Your Home's Equity to Finance the Big Wedding Day

By:: Amelia R. Frost - MortgageLoan.com | January 27, 2008

When saving for the future, many people forget that their children's weddings will be another huge expense. Home equity loans or home equity lines of credit are viable, fast, and easy financial options that can help make it a very special day.

Choosing the Right Mortgage to Remodel

By:: Tom Kerr - MortgageLoan.com | January 26, 2008

Paying for a remodeling project with a home loan is usually a good idea. But choosing exactly the right type of mortgage instrument may require some planning and calculation.

Leveraging Your Mortgage: Why it Pays

By:: Tom Kerr - MortgageLoan.com | January 25, 2008

Maintaining mortgage debt is sometimes a faster path to wealth than paying off your house entirely and being totally debt free. With a mortgage, you can leverage a huge amount of money with a relatively small monthly payment, and enjoy substantial perks along the way.

Unusual Techniques for Selling Your Home

By:: Greg Mischio - MortgageLoan.com | January 24, 2008

If you look at the unconventional techniques being used in the real estate business, you might think that "desperate times call for desperate measures." Some of these more unorthodox real estate techniques are actually working.

Investing With A Conscience: Socially Responsible Mutual Funds

By:: Anders Bylund - MortgageLoan.com | January 23, 2008

With socially responsible mutual funds, you can make money and still sleep at night. Are they right for your portfolio?

Is Escrow Right for Your Refinance?

By:: Amelia R. Frost - MortgageLoan.com | January 22, 2008

When refinancing a home loan, one of the many decisions that you'll have to make is whether or not to escrow your homeowner's insurance and property taxes. Some say yes, others no. Which option is right for you?

Five Financial Aid Tips

By:: Greg Mischio - MortgageLoan.com | January 21, 2008

A rite of passage for any college student involves learning how to manage finances. Not only does this apply credit cards, but also to a huge source of concern: financial aid.

Three Typical Debt Consolidation Mistakes

By:: Greg Mischio - MortgageLoan.com | January 20, 2008

Hindsight is 20/20. When it comes to debt consolidation, it can also be expensive. To avoid costing yourself big money, learn about some common debt consolidation mistakes before they happen.

Identity Theft Victims: Use Credit Freeze

By:: Greg Mischio - MortgageLoan.com | January 19, 2008

Identity theft is one of the fastest growing crimes in the world, and the need to protect your personal information is growing more and more critical. It's a hot topic, but a "credit freeze" may provide a cool solution.

Women and Car Loans

By:: Catherine Brock - MortgageLoan.com | January 18, 2008

An Internet connection can be a woman's best friend when it comes to buying and financing a car.

Refinancing in a Tightening Market

By:: Greg Mischio - MortgageLoan.com | January 17, 2008

Just because times are tough for lenders doesn't mean that you should be shy about pursuing a mortgage refinance. For a variety of reasons, many lenders will welcome your business with open arms, even if your credit is less than perfect.

Don't Get Tripped by Home Equity Loans

By:: Greg Mischio - MortgageLoan.com | January 16, 2008

In the famed Star Wars series, villains drew much of their power from the "dark side of the Force." In the world of home equity loans, there's also a dark side. Make sure that you understand it fully before you take out a big loan.

Be Your Own Debt Consolidator

By:: Greg Mischio - MortgageLoan.com | January 15, 2008

People don't have a problem doing their own home improvement projects, especially if they know they can save money by handling the job themselves. You can realize the same kind of savings when you handle your own debt consolidation.

Try a Savings Bank for a HELOC

By:: Catherine Brock - MortgageLoan.com | January 14, 2008

While mortgage brokers are running in circles trying to find lenders for their customers, savings banks are quietly reaching out to provide mortgages and HELOCs to good credit borrowers.

Five Factors for Refinancing

By:: Greg Mischio - MortgageLoan.com | January 13, 2008

Knowledge is power, especially when it comes to a mortgage refinance. The more details you know about your current mortgage, the easier it will be for you to decide if it's the right time to refinance that loan.

Solar Home Financing: Alternative to Second Mortgages

By:: Catherine Brock - MortgageLoan.com | January 12, 2008

Homeowners in Berkeley, Calif., may soon have access to low-cost financing for energy efficient home upgrades. A proposed city program would allow Berkeley homeowners to pay for the installation of solar panels and solar hot water heaters through their property tax bill.

Prepare for Debt Counseling

By:: Greg Mischio - MortgageLoan.com | January 11, 2008

In Hollywood, the best movies are made when a director knows exactly what he wants to shoot before the filming even starts. You can make your first meeting with a debt counselor just as productive if you bring in all the right materials.

Brokers and IRA Withdrawals

By:: Catherine Brock - MortgageLoan.com | January 10, 2008

Unsuspecting IRA savers have recently suffered some big losses by following the advice of their brokers. Avoid the same fate by knowing the rules about early IRA withdrawals.

How to Survive the Mortgage Crisis

By:: Tom Kerr - MortgageLoan.com | January 09, 2008

The current mortgage crisis is creating some horrific history; but you don't have to become one of the depressing statistics. Protect yourself from financial calamity by understanding your mortgage, being honest with your lender, and respecting your budgetary limitations.

Investing in a Second Home

By:: Amelia R. Frost - MortgageLoan.com | January 08, 2008

While some homeowners despair as the housing market slumps, some buyers see it as an opportunity to make an investment. Real estate can be a better long-term investment than CD or money markets, because it offers more potential for profits.

Tips for Finding Bad Credit Mortgages Online

By:: Greg Mischio - MortgageLoan.com | January 07, 2008

A good attitude can move mountains. It can also help you overcome bad credit. If you've experienced some rough times, but believe you can repair your credit, you will. One way to do it is to do your mortgage shopping online.

A New World for Home Equity Loans

By:: Catherine Brock - MortgageLoan.com | January 06, 2008

Rising default rates are prompting lenders to change their underwriting guidelines, making it more difficult for many to obtain home equity loans and other types of mortgage financing.

Three Reasons Not to Refinance

By:: Greg Mischio - MortgageLoan.com | January 05, 2008

When a doctor taps your knee with a rubber hammer, your body's natural reaction is to kick. Similar knee-jerk reactions occur when you examine the monthly savings of a mortgage refinance. But if you close on a loan without knowing some of the reasons not to refinance, you may wind up kicking yourself.

Avoid These Down Market Buyer Mistakes

By:: Greg Mischio - MortgageLoan.com | January 04, 2008

The real estate market has experienced its most significant slide in years, and homeowners are unloading property at rock-bottom prices. Now might be the time to buy, provided you can avoid some common mistakes.

Proactive and Tax Savvy for the New Year

By:: Catherine Brock - MortgageLoan.com | January 03, 2008

Start organizing your tax documents now, and have one less thing to worry about when spring fever sets in.

For Investors: Four Tips for Short Sale Purchase

By:: Tom Kerr - MortgageLoan.com | January 02, 2008

With the nation in a mortgage crisis and many homes headed for foreclosure, the so-called "short sale" has gained popularity. You can benefit from a short sale by getting a discounted price on a home. Here are four tips to minimize risk.

2008: The Year of Credit Card Green

By:: Amelia R. Frost - MortgageLoan.com | January 01, 2008

Credit card companies are offering ways for you to donate to environmentally friendly causes and charities.