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Safe Haven for your Cash? Try Local Banks

By:: Catherine Brock - MortgageLoan.com | Fri, 10/31/2008

Not all banks are teetering on the edge of financial collapse. In fact, many are humming right along with a business-as-usual mentality.

Finally, Some Hope for Homeowners

By:: Catherine Brock - MortgageLoan.com | Fri, 10/31/2008

The Hope for Homeowners foreclosure prevention program offers a solution for at-risk homeowners.

Get Frugal, but Enjoy Halloween

By:: Greg Mischio - MortgageLoan.com | Thu, 10/30/2008

This Halloween, parents are scared out of their minds. They're not fearful of things that go bump in the night, but of items that go cha-ching at the cash register. Between the costumes and the candy, saving on Halloween can be a tall order. Here are a few tips that can help.

Mortgage Meltdown: Is Affordable Housing to Blame?

By:: Tom Kerr - MortgageLoan.com | Thu, 10/30/2008

Some critics, desperate for a way to explain the current mortgage crisis, have been blaming it on the 1977 Community Reinvestment Act (CRA). Under the CRA, banks receiving federal insurance are encouraged to lend within their own communities, even if those areas are economically depressed. The CRA was meant to provide low-income Americans with more affordable housing.

How Warren Buffett Avoided the Subprime Meltdown

By:: Tom Kerr - MortgageLoan.com | Wed, 10/29/2008

Warren Buffett, the richest man in America, was financially exposed to the housing industry, but managed to avoid severe subprime mortgage losses. Banks and mortgage companies should pay attention to the stock market wizard, and take a lesson from his investment philosophy.

Holiday Credit Crunch

By:: Greg Mischio - MortgageLoan.com | Wed, 10/29/2008

Santa's familiar "Ho, ho, ho" may be replaced this year by "Woe, woe, woe." With the economy sputtering and credit lines closing, retailers are already expecting a dismal year. This is bad news for the U.S. economy, which relies heavily on holiday spending.

What the Economic Crisis can Teach the Kids

By:: Anders Bylund - MortgageLoan.com | Tue, 10/28/2008

The kids can learn some valuable lessons from the grownups' financial foibles.

Mortgage Rewrite Plan will Help Homeowners

By:: Tom Kerr - MortgageLoan.com | Tue, 10/28/2008

As $700 billion moves into the economy to stem the housing meltdown, loan modifications and mortgage rewrites should be a big boon for homeowners. HUD-through its FHA component-will, for example, refinance many troublesome mortgages into affordable FHA fixed-rate loans.

All About Peer-to-Peer Lending

By:: Catherine Brock - MortgageLoan.com | Mon, 10/27/2008

As consumers demand alternatives to traditional bank lending, more and more companies are getting into the person-to-person lending business.

How to Protect Your Money with the FDIC

By:: Catherine Brock - MortgageLoan.com | Mon, 10/27/2008

FDIC coverage limitations are a little complicated. If you know them, you'll avoid the possibility of expected losses on your bank deposits.

Gas Saving Tip: Drive a Scooter

By:: Greg Mischio - MortgageLoan.com | Sun, 10/26/2008

Americans, who are trying to find ways to save money on gas, are converting to a long-standing mode of transportation used in Europe: Mopeds. Sales of scooters in the U.S. have increased more than 60 percent this year, as people look for ways to adapt to high fuel prices.

Want a Hybrid Vehicle? Good Luck with Financing!

By:: Greg Mischio - MortgageLoan.com | Sat, 10/25/2008

Banks and other lending institutions aren't denying the environmental benefits of a hybrid vehicle. However, sometimes they're denying the financing for them, particularly to people with poor credit. Car loans, like home mortgages, are getting tougher for people to find.

Is Your Money Market Fund Safe?

By:: Catherine Brock - MortgageLoan.com | Fri, 10/24/2008

News of value losses in money market funds sent shivers down the spines of investors from Maine to California. Learn what the federal government is doing to help you keep the faith.

Portfolio Management: Biting the Bullet through the Financial Crisis

By:: Anders Bylund - MortgageLoan.com | Fri, 10/24/2008

No pain, no gain. That evergreen is as true in financial planning as it is in the gym.

The Shrinking of Fannie Mae

By:: Tom Kerr - MortgageLoan.com | Thu, 10/23/2008

Fannie Mae and Freddie Mac are both trying to shore up anemic balance sheets to regain healthy cash reserves. But that guarded approach to mortgage lending might send mortgage rates higher and make mortgage qualification much more difficult for the average American.

Seniors Whacked by the Mortgage Crisis

By:: Tom Kerr - MortgageLoan.com | Thu, 10/23/2008

As the number of Americans in the "baby boomer" demographic peaks, seniors and retirees face the brunt of the mortgage crisis at a time when they're most vulnerable. According to the AARP, older people across the U.S. may suffer the most from the nation's current economic strife.

Small Business and the Mortgage Bailout

By:: Catherine Brock - MortgageLoan.com | Wed, 10/22/2008

While oversized and overextended financial firms get all the attention, small business owners are quietly struggling to get by.

Finding the Culprits of Mortgage Fraud

By:: Catherine Brock - MortgageLoan.com | Wed, 10/22/2008

Who can we blame for the U.S. mortgage crisis and financial industry meltdown? Mortgage brokers, investors, or corporate executives? Or is it the regulators, who are just now going after the crooks?

Combat Rising Unemployment: Tips for Getting a New Job

By:: Catherine Brock - MortgageLoan.com | Tue, 10/21/2008

It's practically impossible to find a job using the mega online job boards anymore. The current market demands a more personal approach.

California Protects Consumers from Shady Mortgage Brokers

By:: Tom Kerr - MortgageLoan.com | Tue, 10/21/2008

The state of California usually leads the charge when it comes to progressive legislation. Now, Californians have new mortgage laws and mortgage license regulations. But consumer advocates wonder if it's enough to protect borrowers from mortgage broker fraud.

Debt-settlement Companies take Federal Trade Commission Spotlight

By:: Greg Mischio - MortgageLoan.com | Mon, 10/20/2008

The dire consequences of our nation's debt problems have come full circle in recent months. As our most prestigious financial institutions have crumbled, our nation has begun to reassess its addiction to easy credit. Debt-settlement companies have become more popular, and more scrupulous.

Are More Gas Shortages Ahead?

By:: Greg Mischio - MortgageLoan.com | Mon, 10/20/2008

The ongoing financial crisis has been good for one thing: It's taken our minds off the fact that we could be facing gas shortages in the very near future. Even though gas prices have stabilized and even dropped, the long lines in Atlanta after the recent Hurricanes Ike and Gustav are proof that there might be a nationwide gas shortage.

Congress to Help with Student Loans

By:: Greg Mischio - MortgageLoan.com | Sun, 10/19/2008

The shaky nature of the economy has cast doubt over the entire lending world. Much attention has been focused on the housing market, but student loans have also become under question. Recently, Congress has taken steps to ensure liquidity in the market, providing a dose of confidence for the future.

Personal Finance in Schools: An Answer to Financial Crisis

By:: Anders Bylund - MortgageLoan.com | Sat, 10/18/2008

A little bit of financial education could go a long way to improve our nation's financial health.

Learn about FHA Lenders

By:: Catherine Brock - MortgageLoan.com | Fri, 10/17/2008

Do you know what an FHA lender is, and whether or not you should use one?

Shining Light from Mortgage Mess: FHA Loans

By:: Tom Kerr - MortgageLoan.com | Fri, 10/17/2008

Mortgages are in increasingly short supply as economic chaos continues, but consumers are getting some vital relief from the FHA. The number of FHA mortgage applications has soared, nearly tripling in 2008, as troubled banks and other mortgage companies reign in their credit.

Four Ideas to Sell Home in Struggling Market

By:: Greg Mischio - MortgageLoan.com | Thu, 10/16/2008

Check out the ads in the real estate section of your local newspaper. If you read between the lines, you'll probably sense messages like, "Selling home-desperate!" or "Need to sell home, but can't find buyer. PLEASE!" If you're a seller, there are steps you can take to sell your home in a tough market.

Money Crunch Solutions: Get a Second (or New) Job

By:: Catherine Brock - MortgageLoan.com | Thu, 10/16/2008

A second job can improve your income, but it might not make your life any easier.

How will the Bailout Affect Mortgage Rates?

By:: Tom Kerr - MortgageLoan.com | Wed, 10/15/2008

Regardless of how the financial bailout plan affects the overall economy, mortgage rates may fall in the short term, but will have to rise before long. Without raising underlying interest rates, which will eventually push mortgage rates higher, the nation can't wage its financial battles.

Is Your 401(k) Safe?

By:: Catherine Brock - MortgageLoan.com | Wed, 10/15/2008

Bad financial news piled upon more bad financial news might have you worried about your 401(k) funds.

The Real Problem in Housing: Mortgage Guidelines

By:: Catherine Brock - MortgageLoan.com | Tue, 10/14/2008

Mortgage rates have declined in recent weeks, but that doesn't mean lenders are working around the clock to qualify borrowers and fund loans.

How Mortgage Bailout Will Affect You

By:: Tom Kerr - MortgageLoan.com | Tue, 10/14/2008

While Wall Street and Main Street compete in a tug-o-war over the mortgage bailout plan, average Americans wonder how the colossal expenditure will impact their personal finances. It's too soon too to predict the overall outcome, but some good and bad consequences are inevitable.

Lenders to FHA Foreclosure Help: Thanks, But No Thanks

By:: Catherine Brock - MortgageLoan.com | Mon, 10/13/2008

The FHA's new Hope for Homeowners program is supposed to be an answer to this country's foreclosure problem. Mortgage lenders like the idea, but only after other efforts have failed.

Getting a Mortgage in Challenging Times

By:: Greg Mischio - MortgageLoan.com | Mon, 10/13/2008

In the wake of the tidal wave of bad news that has hit the mortgage market, there's a profound new lending landscape. The good news is that you can still get a mortgage. The bad news is that money will be harder to borrow, particularly if you have bad credit.

Cheaper Mortgage Rates Could Ease Household Pain

By:: Greg Mischio - MortgageLoan.com | Sun, 10/12/2008

The mortgage and energy industries have delivered a one-two punch. Fortunately, it will have a positive impact. Oil prices and interest rates have dipped, providing a source of debt relief for people looking for a mortgage refinance.

Can the FHA Handle a New Expanded Mortgage Role?

By:: Tom Kerr - MortgageLoan.com | Sun, 10/12/2008

Many are concerned that HUD may already be strapped for cash due to ongoing efforts to stem the tide of foreclosures. But as the FHA, its main component, takes on more responsibility and greater debt, HUD will be faced with newer and bigger challenges.

Can Foreclosure Prevent You from Voting?

By:: Catherine Brock - MortgageLoan.com | Sat, 10/11/2008

Voter challenge laws in the state of Michigan are stirring up controversy, as rumors circulate about the Republican Party's intention to use foreclosure lists to block voters at the polls.

Crisis Savior: Mortgage Loan Modifications

By:: Catherine Brock - MortgageLoan.com | Sat, 10/11/2008

Now that IndyMac Bank, Fannie Mae, and Freddie Mac have all failed, the federal government appears to be in the driver's seat to fix the foreclosure problem. Many argue that the answer lies in rolling out strategic loan modifications to at-risk borrowers.

Are Low Mortgage Rates Here to Stay?

By:: Tom Kerr - MortgageLoan.com | Fri, 10/10/2008

Immediately following the Treasury takeover of Fannie Mae and Freddie Mac, borrowers took advantage of much lower mortgage rates, and refinance applications surged. But with extreme financial uncertainty in the U.S., mortgage rates are poised to rise again before too long.

Has the Housing Market Hit Bottom?

By:: Tom Kerr - MortgageLoan.com | Fri, 10/10/2008

As real estate sales slump, so do home prices. As prices sink, market value and equity vanish, and foreclosures rise. Now, fresh Commerce Department evidence indicates that we're still in a downward spiral and far from the end in terms of foreclosures and lower housing prices.

Secret to Growing Rich: Save, Don't Leverage

By:: Anders Bylund - MortgageLoan.com | Thu, 10/09/2008

It's hard to find an American who doesn't live without a little bit of debt, but too much could crush your savings dreams.

Housing Issues Active in Congress

By:: Catherine Brock - MortgageLoan.com | Thu, 10/09/2008

Congress faces some emotional arguments as lawmakers conduct ongoing hearings on two separate housing proposals.

Real Estate Investors Ready to Gobble Discounted Properties

By:: Greg Mischio - MortgageLoan.com | Wed, 10/08/2008

As home values continue to slump, foreclosures are swamping the market. It may be a sad day for people who lost their homes; but for many real estate investment companies, it's the pot of gold at the end of the rainbow.

Fannie, Freddie Mortgages Rescue Strategies

By:: Tom Kerr - MortgageLoan.com | Wed, 10/08/2008

With Fannie Mae and Freddie Mac now under government control, mortgage refinance and government assistance programs to promote foreclosure prevention will be their main focus.

Freddie, Fannie Intervention Means Good Time to Refinance

By:: Catherine Brock - MortgageLoan.com | Tue, 10/07/2008

The government takeover of Fannie Mae and Freddie Mac could potentially increase your tax bill down the road. It can also mean it's a good time to refinance.

Seller-Assisted Down Payments Still Alive

By:: Catherine Brock - MortgageLoan.com | Tue, 10/07/2008

The Housing and Economic Stimulus Act of 2008 effectively killed off seller-funded down payments by banning their use with FHA-insured mortgages after October 1. Now, consumer groups are rallying with lawmakers to protect this form of funding for homebuyers.

Is FHASecure Helping Anyone?

By:: Catherine Brock - MortgageLoan.com | Mon, 10/06/2008

FHASecure was touted as the federal government's plan to rescue homeowners from the teeth of foreclosure. The official word is that the program is working; but has it truly had an impact on the foreclosure pipeline?

Takeover at Fannie/Freddie by the Feds

By:: Tom Kerr - MortgageLoan.com | Mon, 10/06/2008

With the government takeover of mortgage agencies Fannie Mae and Freddie Mac, the mortgage market got a needed boost. In the wake of the news, loans from the FHA and other lenders became much less expensive, and that could potentially save the ailing real estate market.

Presidential Politics: Views on Fannie, Freddie Bailout

By:: Catherine Brock - MortgageLoan.com | Sun, 10/05/2008

Fannie Mae and Freddie Mac have given the U.S. presidential candidates another economic issue to argue.

Mortgage Rates Tumble Below Pre-Meltdown Levels

By:: Tom Kerr - MortgageLoan.com | Sat, 10/04/2008

In the wake of the Fannie Mae takeover, mortgage interest rates declined, and the overall cost of taking out a home loan or doing a mortgage refinance fell almost 10 percent. That's unexpected good news for homebuyers, because mortgage rates are now as low as they've been since 2004.

FHA Stealing Market Share from Private Mortgage Insurers

By:: Tom Kerr - MortgageLoan.com | Sat, 10/04/2008

Companies offering private mortgage insurance (PMI) are suffering catastrophic losses due to an avalanche of foreclosure-related claims. But the FHA, which offers HUD-backed FHA loan guarantee reassurance to banks and investors, is quickly capturing that lost PMI market share.

Home Loan Shopping: Apply to Multiple Mortgage Lenders

By:: Greg Mischio - MortgageLoan.com | Fri, 10/03/2008

The mortgage marketplace is tight. While many borrowers are just happy to get approved, there's nothing stopping you from applying to a variety of different mortgage banks for your loan.

Taxing Politics: Where the Candidates Stand

By:: Catherine Brock - MortgageLoan.com | Fri, 10/03/2008

Tax policy changes with every new administration. Do you know how you'll be affected this time?

Foreclosure Rates: A Growing Problem

By:: Tom Kerr - MortgageLoan.com | Thu, 10/02/2008

Various foreclosure assistance programs were supposed to stall the upward momentum of high foreclosure rates, and even reverse the expanding epidemic. Instead, the situation is getting worse, and there appears to be nothing anyone can do to stop the rising tide of defaults.

Getting the Most from Your Reverse Mortgage

By:: Catherine Brock - MortgageLoan.com | Thu, 10/02/2008

New government regulations make it easier for seniors to get money from their home equity with a reverse mortgage.

Improve Your Chances of Selling Your Home

By:: Greg Mischio - MortgageLoan.com | Wed, 10/01/2008

As the real estate market continues its descent, home sellers are becoming more innovative. The days of setting up a "for sale" sign are long gone. For people who have "selling home" on the top of their priority list, tactics like home staging and house trading are becoming useful.

How to Buy a Foreclosure

By:: Greg Mischio - MortgageLoan.com | Wed, 10/01/2008

When times are tough, it seems like the rich get richer. Today's housing market is no different. Real estate investors with the means to buy foreclosure properties are moving quickly. Be forewarned: This can be a tricky business.