MortgageLoan

FHA Financing For a Dirt-Cheap Fixer-Upper

By:

Anders Bylund - MortgageLoan.com | September 30, 2008

The Federal Housing Administration (FHA) can help you get a great deal on "vintage" real estate.

New Angle on Home Equity Loans

By:

Catherine Brock - MortgageLoan.com | September 30, 2008

A new service allows homeowners to cash out their equity without incurring interest charges and loan repayments.

Better Oversight for Appraisers

By:

Catherine Brock - MortgageLoan.com | September 29, 2008

In the ongoing aftermath of the subprime crisis, attention has turned to real estate appraisers and what role they might have played in the turmoil.

American Youth:

By:

Anders Bylund - MortgageLoan.com | September 29, 2008

Many young whippersnappers need a lesson in financial responsibility. Are you one of them?

Credit Card Woes: Escalating Debt

By:

Greg Mischio - MortgageLoan.com | September 28, 2008

Woe is me, says the credit card holder. In reaction to credit card companies spiking interest rates, the Federal Reserve Board has proposed new rules regarding consumer credit card debt. While the changes may be heralded as relief for consumers, issuers of plastic are arguing that all they'll do is increase consumer debt over the long haul.

Protect Yourself From Reverse Mortgage Fraud

By:

Catherine Brock - MortgageLoan.com | September 28, 2008

Financial scammers are using reverse mortgages to rip off the elderly. Protect yourself by knowing the law and the scams.

Mortgage Crisis: Communities to the Rescue

By:

Greg Mischio - MortgageLoan.com | September 27, 2008

All over the country, people are feeling the effects of the subprime mortgage crisis. As home values plummet and foreclosure rates soar, communities are finding new ways to provide mortgage assistance to their neighbors.

HELOC Cancellation: Are You at Risk?

By:

Catherine Brock - MortgageLoan.com | September 27, 2008

HELOC lenders are now realizing that they were overly enthusiastic about approving big credit lines for borrowers. As they try to reduce their risk exposure, some homeowners are getting a surprise notification that their HELOC has been cancelled.

Government Steps in with Mortgage Help

By:

Catherine Brock - MortgageLoan.com | September 26, 2008

The federal government has unleashed the FHA to help at-risk mortgage borrowers keep their homes.

Are Reverse Mortgages Too Expensive?

By:

Tom Kerr - MortgageLoan.com | September 26, 2008

Reverse mortgages are now wildly popular because the senior citizen population they serve is growing faster than any other demographic group in the entire U.S. But some critics argue that reverse mortgages cost too much to make them a suitable retirement planning vehicle.

Congress Talks: Bailout Plan Needs Homeowner Provisions

By:

Catherine Brock - MortgageLoan.com | September 25, 2008

The emergency federal bailout plan has been drafted. The proposal involves buying up mortgage-related assets from failing financial institutions; but are homeowners going to get some help, too?

Best Foreclosure Prevention: FDIC Loan Modification

By:

Tom Kerr - MortgageLoan.com | September 25, 2008

Sheila Blair, head of the Federal Deposit Insurance Corporation (FDIC), is a passionate advocate of mortgage loan modification to avoid foreclosure. Now she'll have a chance to put her ideas to the test with the FDIC takeover of a failed bank that specialized in bad mortgages.

Refinance Your Option ARM

By:

Catherine Brock - MortgageLoan.com | September 25, 2008

Experts are concerned that option ARMs could fuel another wave of mortgage defaults. Is your option ARM set to disarm your finances and implode?

Senior Troubles: Bankruptcy on the Rise

By:

Greg Mischio - MortgageLoan.com | September 24, 2008

The rising costs of health care and consumer goods have hit the elderly population hard. A clear indicator that the older popular is struggling is the rise in senior bankruptcy rates, which are reaching double-digit territory. In this difficult economy, our 55-plus population needs to seriously reevaluate how they'll make ends meet.

Interest Rate Mystery: Fed Cuts, Yet Mortgage Rates Climb

By:

Tom Kerr - MortgageLoan.com | September 24, 2008

Some of the greatest financial minds of our time are puzzled by the fact that, in recent years, mortgage rates have failed to follow Fed rate cuts. The odd and paradoxical divergence is largely unexplained, but is attributed to the fact that we're in a new global economic frontier.

Government-Backed Loans Not Doing the Job

By:

Tom Kerr - MortgageLoan.com | September 23, 2008

Some people complain about taxpayer-funded mortgage assistance, while backers support government refinance help initiatives. But both may agree on one thing: mortgage assistance doesn't seem to be working, thanks to high mortgage rates and continually-rising loan fees.

Bankruptcy Filings on the Rise

By:

Catherine Brock - MortgageLoan.com | September 23, 2008

There's still no light at the end of the tunnel for our economy, as the latest figures report a startling rise in the number of bankruptcies.

Improve, Don't Move, with a Home Equity Loan

By:

Greg Mischio - MortgageLoan.com | September 22, 2008

The housing market's bursting bubble has crippled the industry. Instead of leap-frogging to a bigger and better house, many homeowners are opting to improve their current dwelling. It's a smart move, especially if you use a home equity loan. Just be certain that your improvements will help the resale value of your property.

The Economy's Future: The Candidates' Plans

By:

Catherine Brock - MortgageLoan.com | September 22, 2008

Some say that the U.S. economy is teetering on the edge of another Great Depression. Find out what the presidential candidates plan to do about it.

How to Raise Your Credit Score

By:

Greg Mischio - MortgageLoan.com | September 21, 2008

A credit score is your financial fingerprint. Full of your financial history, it's the most effective way for a lender to identify your creditworthiness. Many people are shocked to discover that this fingerprint can lead to a thumbs-down from a lender. Here are some simple ways to improve your credit score.

Is a Reverse Mortgage Right for Your Parents?

By:

Catherine Brock - MortgageLoan.com | September 20, 2008

Reverse mortgages have grown in popularity, but the risks are still there.

Places to Stash Cash in Today's Market

By:

Anders Bylund - MortgageLoan.com | September 19, 2008

A regular savings account is hardly the safest choice. A standard one with a major U.S. bank today brings a 0.2 percent annual interest rate. But inflation is running amok at 5 percent. In other words, your carefully stashed $100,000 will be worth less than that in next year's dollars, or about $95,200 after accounting for interest and inflation.

Home Value Declines Leave ARM Holders Under Water

By:

Tom Kerr - MortgageLoan.com | September 19, 2008

Millions of ARM loans will do-or have already done-an "ARM reset," which means that they undergo a scheduled monthly payment adjustment. Because they typically begin with a low teaser rate, they generally go much higher when the ARM reset kicks in, and it's not unusual for monthly mortgage payments to double.

Reverse Mortgages as Foreclosure Saviors

By:

Tom Kerr - MortgageLoan.com | September 18, 2008

Reverse mortgages, or HECM loans, are commonly used to help senior citizens tap into their home equity for retirement. But some distressed homeowners are also turning to reverse mortgages to reverse the momentum of looming foreclosures, and save their homes from repossession.

Loan Modification can Prevent Foreclosure - Mortgage Modification Help

By:

Tom Kerr - MortgageLoan.com | September 18, 2008

Loan modification-which means officially changing the terms of an existing mortgage-is one of the best methods to prevent foreclosure. But those facing foreclosure aren't always eligible for loan modification, because the terms and conditions may be hard to meet.

Where to Find Government Refinance Assistance

By:

Catherine Brock - MortgageLoan.com | September 17, 2008

Don't panic if you need to refinance quickly; dozens of state and federal government programs can help.

How to Set up Laddered CDs

By:

Catherine Brock - MortgageLoan.com | September 17, 2008

Build a CD ladder to optimize the liquidity and performance of your time deposits.

Get out of Debt Before the Economy Gets You

By:

Greg Mischio - MortgageLoan.com | September 16, 2008

The American economy is sputtering, and with oil prices unstable and foreign powers like China and India gaining momentum, our country faces an uphill climb. Debt elimination should be on everyone's mind. With a little debt consolidation and a whole lot of discipline, you can make it happen.

Say Good-bye to Down Payment Assistance Programs

By:

Catherine Brock - MortgageLoan.com | September 16, 2008

The Housing and Economic Recovery Act of 2008 shuts off an important form of funding for some homebuyers.

Loan Modification Plan: FDIC and IndyMac

By:

Catherine Brock - MortgageLoan.com | September 15, 2008

The FDIC and IndyMac Federal Bank, FS have put their heads together on a loan modification program that will help at-risk borrowers avoid foreclosures.

Mortgages: Harder to Get and More Expensive

By:

Tom Kerr - MortgageLoan.com | September 15, 2008

Mortgages-whether from the FHA, Fannie Mae, Freddie Mac, or private lenders-are getting more costly and increasingly difficult to qualify for, thanks to an ongoing financial crisis. Rather than helping Americans fulfill their American dreams and buy their home, banks seem to be putting obstacles in the path.

Presidential Politics: Will Candidates Clean Up Mortgage Mess?

By:

Catherine Brock - MortgageLoan.com | September 14, 2008

Mortgage reform is a hot topic these days, particularly as the presidential campaign gain's momentum.

Mortgage Rates: Know When to Lock

By:

Greg Mischio - MortgageLoan.com | September 13, 2008

If you love gambling but can't afford to fly to Las Vegas, consider floating your mortgage rate. Not locking in a rate is a definite gamble; it can yield big rewards or big losses. Know the odds before you take the risk.

Compulsive Cash-Out Refinancing is a Risky Scenario

By:

Tom Kerr - MortgageLoan.com | September 12, 2008

Frequent cash-out refinancing can be a financially risky strategy, because a cash-out refinance can bleed the equity out of your property. Before doing a refinance of any kind, it's important for homeowners to carefully study the bottom line and the long-term repercussions of such a move.

Money Management Software Makes Internet Home

By:

Anders Bylund - MortgageLoan.com | September 12, 2008

Keeping your accounts organized has never been easier; but which software package should you use?

How to Avoid Foreclosure

By:

Tom Kerr - MortgageLoan.com | September 11, 2008

Foreclosure prevention tops the wish list for many American homeowners; but avoiding foreclosure in today's market can be extremely challenging. It is possible, however, and borrowers should pursue solutions to avoid foreclosure--especially opportunities for loan modification.

Do Savings Accounts Matter?

By:

Catherine Brock - MortgageLoan.com | September 11, 2008

Savers, who are seeing their wealth dry up from inflation, are being overlooked, as federal resources rally to help those who've been far less responsible.

Saving Celebrity Homes from Foreclosure

By:

Catherine Brock - MortgageLoan.com | September 10, 2008

Foreclosure isn't just for the mainstream population; celebrities are getting hit with mortgage problems, too.

What Makes Mortgage Rates Tick?

By:

Tom Kerr - MortgageLoan.com | September 10, 2008

Many economic indicators influence mortgage rates, but the biggest factor is still Fed policy. Current mortgage rates aren't following a completely predictable pattern, so borrowers should look long term rather than trying to guess week-to-week rate changes.

Are Online Mortgage Rates for Real?

By:

Greg Mischio - MortgageLoan.com | September 09, 2008

The Internet could easily be considered the "misinformation" superhighway. Every day, people post articles with inaccurate information. But the big question for homebuyers is, how accurate are online mortgage rates?

Advertising and the Home Equity Fiasco

By:

Catherine Brock - MortgageLoan.com | September 09, 2008

In the 1980s, financial companies set out to change the perception of second mortgages among the American public. Unfortunately, no one predicted just how expensive that endeavor would ultimately be.

Government-Backed Mortgages Key to Economic Recovery

By:

Tom Kerr - MortgageLoan.com | September 08, 2008

Many first-time homebuyers, veterans, senior citizens, and people who are delinquent on mortgage payments but otherwise have good credit will benefit from provisions in the new housing bill.

Combating the Stress of Foreclosure

By:

Catherine Brock - MortgageLoan.com | September 08, 2008

Foreclosures are still on the rise, and they're taking a toll on the American psyche.

Refinance out of a Risky Mortgage

By:

Greg Mischio - MortgageLoan.com | September 07, 2008

Home values have plummeted, while the interest rates on adjustable rate mortgages (ARMs) are rising. The bubble has obviously burst for the U.S. housing market, and it may be "refinance risky mortgage" time for you.

Tenants: Protection from Landlord Foreclosure

By:

Catherine Brock - MortgageLoan.com | September 06, 2008

A California bill seeks to establish protections for renters whose landlords aren't staying current with their mortgage payments.

Ginnie Mae Steps Up to Plate in Mortgage Crisis

By:

Catherine Brock - MortgageLoan.com | September 06, 2008

The Housing Stimulus Bill gives the FHA and Ginnie Mae the challenge of leading the country out of a mortgage crisis.

Need a Refinance? Try a private lender

By:

Tom Kerr - MortgageLoan.com | September 05, 2008

As it becomes increasingly difficult to borrow for a refinance from traditional banks, more and more consumers are turning to private lenders. While this strategy usually costs more, it involves fewer hassles and more assurances that loans will go through without delays.

Jumbo Loans May Offer Jumbo Rates

By:

Catherine Brock - MortgageLoan.com | September 05, 2008

Conforming loan limits may have changed, but lenders are still treating jumbo loans like damaged goods.

All About Fixed-Rate Mortgages

By:

Greg Mischio - MortgageLoan.com | September 04, 2008

The recent upheaval in the subprime mortgage market has made borrowers skittish about using adjustable-rate mortgages. With current 30-year fixed mortgage rates low, and home values still sinking, many homeowners are opting for a fixed-rate product.

Can't Refinance? Consider Chapter 7 Bankruptcy

By:

Catherine Brock - MortgageLoan.com | September 04, 2008

When you have a mortgage you can't afford and refinancing isn't an option, don't dismiss the possibility that a Chapter 7 bankruptcy may actually help you in the long run.

Calling All Debtors: Help With Your Next Move

By:

Greg Mischio - MortgageLoan.com | September 03, 2008

Personal finance is a lot like chess. Each game requires good strategy and calculated decision-making to win. Make a careless move with your money and you could wind up heavily in debt. If you find yourself in this kind of jam, consider a debt consolidation loan.

Mortgages: It's EASY Being Green!

By:

Catherine Brock - MortgageLoan.com | September 03, 2008

Green mortgages are giving homeowners incentives to go green, one home at a time.

Is Longevity Insurance Right for You?

By:

Catherine Brock - MortgageLoan.com | September 02, 2008

Longevity insurance offers protection against the possibility of outliving your bank account.

Refinancing: Frequently Asked Questions

By:

Catherine Brock - MortgageLoan.com | September 02, 2008

Need refinancing answers fast? You're in the right place.

A Spike in Prime Mortgage Foreclosures

By:

Tom Kerr - MortgageLoan.com | September 02, 2008

Just when we were getting used to the subprime crisis, lenders are now reporting record defaults and foreclosures related to prime mortgages. The trend indicates that the ongoing housing crisis isn't seeing any light at the end of the tunnel. Instead, we might be heading for another train wreck.

Home Equity FAQ

By:

Catherine Brock - MortgageLoan.com | September 01, 2008

Find the answers to all your questions about home equity and home equity debt.

Home Equity Conversion Mortgages

By:

Tom Kerr - MortgageLoan.com | September 01, 2008

The FHA's home equity conversion mortgage program (HECM) is designed to let older homeowners convert equity into cash without selling their homes. HECM loans are a type of reverse mortgage, and are made by banks, credit unions, and other typical mortgage lenders.

Thawing out a Frozen HELOC

By:

Tom Kerr - MortgageLoan.com | September 01, 2008

Hundreds of thousands of consumers are getting notices from their banks that their home equity lines of credit (HELOCs) have been frozen. This is causing a wave of credit crunch panic. There are options for responding to a HELOC freeze, but the lender still wields most of the power.

Understanding 125% Second Mortgages

By:

Catherine Brock - MortgageLoan.com | September 01, 2008

All that glitters is not gold. The 125% 2nd mortgage may reduce your monthly debt payment, but it's important to understand the risks before you jump in.

Benefits of a Chase Second Mortgage

By:

Greg Mischio - MortgageLoan.com | September 01, 2008

The Internet has become an active marketplace as people search for second mortgages. In particular, people have been looking up information on Chase second mortgages. Available in a fixed rate, fixed-term home equity loan or line of credit, the Chase second mortgage can help a homeowner tap his equity.

Learn About Money Market Accounts

By:

Catherine Brock - MortgageLoan.com | September 01, 2008

You could spend countless hours searching online for the best money market rates, but that won't necessarily lead you to the top money market account.

Overview of No Equity Second Mortgages

By:

Catherine Brock - MortgageLoan.com | September 01, 2008

When the conditions are right, the no equity second mortgage is a powerful option for homeowners.

Learn About Piggyback Second Mortgages

By:

Tom Kerr - MortgageLoan.com | September 01, 2008

The piggyback 2nd mortgage is a small loan used in tandem with a first mortgage in order to help the buyer of a home avoid out of pocket expenses. Like other somewhat exotic mortgages, the piggyback loan should be used wisely and viewed with a modicum of caution and prudence.

Age Old Dilemma: Invest or Pay Down Mortgage?

By:

Catherine Brock - MortgageLoan.com | September 01, 2008

You get a sizeable raise that leaves you with some extra money every month. Does it make more sense to send that extra cash to your mortgage lender or to your brokerage account?