Article Archive June, 2008

Structuring a Debt Consolidation Program

By:

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.

Four Ways to Get Out of Debt

By:

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.

Lose your credit card? What to do next

By:

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.

No Elation for Stagflation

By:

Anders Bylund - MortgageLoan.com | June 29, 2008

Going against the herd can turn bad times good again.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Foreclosure Fraud Protection

By:

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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 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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Retirement Savings In Rough Markets

By:

Anders Bylund - MortgageLoan.com | June 12, 2008

Two words: don't panic.

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?

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.

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.

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.

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.

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.

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.

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.

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.

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.

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?

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.