Article Archive August, 2008

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.

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.

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.

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?

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.

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.

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.

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.

Mortgage Rate Forecast

By:

Tom Kerr - MortgageLoan.com | August 25, 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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Debt Consolidation for Students

By:

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.

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.

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.

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.

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.

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?

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.

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.

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.

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.

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.

All About Reverse Mortgage Scams

By:

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.

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.

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.

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.

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.

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.

Five Bankruptcy Misunderstandings

By:

Catherine Brock - MortgageLoan.com | August 03, 2008

Bankruptcy arouses love, hate, and confusion among the general public.

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.

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.

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.

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.

Bad Credit? Find Cash Now!

By:

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.

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.

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.

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.