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Need Debt Consolidation? Try the SBA

By:: Catherine Brock - MortgageLoan.com | Fri, 02/29/2008

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 | Thu, 02/28/2008

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 | Wed, 02/27/2008

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 | Tue, 02/26/2008

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 | Mon, 02/25/2008

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 | Sun, 02/24/2008

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 | Sat, 02/23/2008

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 | Fri, 02/22/2008

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 | Thu, 02/21/2008

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 | Wed, 02/20/2008

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 | Tue, 02/19/2008

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 | Mon, 02/18/2008

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 | Sun, 02/17/2008

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 | Sat, 02/16/2008

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 | Fri, 02/15/2008

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 | Thu, 02/14/2008

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 | Wed, 02/13/2008

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 | Tue, 02/12/2008

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 | Mon, 02/11/2008

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 | Sun, 02/10/2008

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 | Sat, 02/09/2008

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 | Fri, 02/08/2008

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 | Thu, 02/07/2008

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 | Wed, 02/06/2008

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 | Tue, 02/05/2008

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 | Mon, 02/04/2008

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 | Sun, 02/03/2008

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 | Sat, 02/02/2008

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 | Fri, 02/01/2008

"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.