Article Archive July, 2008

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.

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.

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.

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.

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.

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.

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.

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.

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.

Independent Debt Consolidation

By:

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.

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.

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.

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.

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.

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?

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.

Avoid Egregious Investing Errors

By:

Anders Bylund - MortgageLoan.com | July 26, 2008

Learn from the blunders of others to avoid repeating them.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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 | 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.

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.

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.

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.

Freezing Your Credit Report

By:

MortgageLoan.com | July 20, 2008

Worried you may become a victim of identity fraud? Freezing your credit report may be the ideal solution.

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.

Reducing Property Taxes

By:

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.

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.

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.

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.

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.

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.

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.

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.

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.

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."

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.

Home Equity Scams to Watch Out For

By:

MortgageLoan.com | July 15, 2008

Arming yourself with information is the best way to protect yourself from some common home equity scams.

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.

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.

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.

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.

Car Maintenance: Reduce Those Pesky Bills

By:

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.

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.

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.

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.

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.

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.

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.

College Savings Options for Kids

By:

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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?

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.

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.

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).

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.

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.

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 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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.