Article Archive March, 2008

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.

Equity Loans next up in credit crunch showdown

By:

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.

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.

Protests at Bear Stearns offices

By:

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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).

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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?

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.

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.