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Articles by Subject

Mortgage Rates Continue to Rise

By:: Kirk Haverkamp - MortgageLoan.com | December 31, 2009

Mortgage interest rates continued to climb this last week, rising nearly one-tenth a percent in the current Freddie Mac weekly survey, released today.

Florida Supreme Court Orders Foreclosure Mediation Process

By:: Peter King - MortgageLoan.com | December 30, 2009

Florida homeowners faced with losing their homes are now entitled to undergo mediation before a foreclosure is finalized, the state’s Supreme Court has ordered.

Are There Any Downsides to a Loan Modification?

By:: Peter King - MortgageLoan.com | December 29, 2009

The combination of falling incomes and home values has many homeowners seeking loan modifications to lower their monthly mortgage payments. And while saving money is always a good thing, some may wonder – are there any downsides to getting a loan modification?

Home Prices Remain Flat: Case-Shiller

By:: Kirk Haverkamp - MortgageLoan.com | December 29, 2009

Raw U.S. home prices were unchanged in October, but posted a moderate increase on a seasonally adjusted basis, according to a leading market survey released today.

Treasury Expands Support for Fannie, Freddie

By:: Kirk Haverkamp - MortgageLoan.com | December 28, 2009

The U.S. Treasury Department will provide nearly unlimited support for Fannie Mae and Freddie Mac over the next three years to ensure the viability of the two major mortgage financiers.

Mortgage Rates Go Back Above 5 Percent

By:: Peter King - MortgageLoan.com | December 24, 2009

Interest rates on standard 30-year mortgages rose above the 5 percent mark for the first time in eight weeks, according to the weekly Freddie Mac survey released today.

A Simple Interest Mortgage Can Cost You

By:: Peter King - MortgageLoan.com | December 24, 2009

One of the small pitfalls to look out for when shopping for a mortgage has to do with simple interest vs. a standard mortgage. Although the term “simple interest” sounds harmless, it can cost you money if you’re not careful.

Existing Home Sales Continue to Rise

By:: Peter King - MortgageLoan.com | December 23, 2009

Existing home sales rose again in November, but prices remained stagnant despite a dwindling inventory of available properties, according to new data from the National Association of Realtors (NAR).

Early Loan Modification Redefaults Fall in Third Quarter

By:: Peter King - MortgageLoan.com | December 22, 2009

Foreclosure avoidance actions by mortgage lenders and servicers were up sharply in the third quarter of the year, while redefault rates on newly modified loans fell, according to new government figures out this week.

Getting the Best Return on Home Improvement Projects

By:: Kirk Haverkamp - MortgageLoan.com | December 22, 2009

Thinking about doing some home renovations? Wondering which projects will give you the best return on your money?

Online Application to Streamline Loan Modification Process

By:: Peter King - MortgageLoan.com | December 21, 2009

A new online service to help homeowners submit and track the documents needed for a government-backed mortgage loan modification has been launched by HOPE NOW, a coalition of mortgage companies and credit counseling agencies.

Fannie, Freddy, Citi Suspend Evictions

By:: Peter King - MortgageLoan.com | December 18, 2009

Three major lenders have announced that they’re suspending foreclosure evictions over the Christmas season, so foreclosed homeowners won’t have to leave their homes until after the holidays.

Are There Any Downsides to Refinancing Your Mortgage?

By:: Kara Johnson - MortgageLoan.com | December 17, 2009

There are a lot of advantages to refinancing your mortgage. But what about the downsides? Are there any disadvantages borrowers need to be aware of before taking out that new loan?

Interest in Buying Foreclosures Drops

By:: Peter King - MortgageLoan.com | December 17, 2009

Consumer interest in buying foreclosed properties is declining, even as large numbers of foreclosed homes continue to come onto the market.

New Housing Starts Rebound

By:: Kirk Haverkamp - MortgageLoan.com | December 16, 2009

New housing starts rebounded in November, increasing 8.9 percent to an annual rate of 574,000 units, according to figures released today by the Commerce Department.

Home Equity Loans Making a Comeback

By:: Kara Johnson - MortgageLoan.com | December 16, 2009

Home equity loans, which practically disappeared over the past year following the collapse of the housing market, are making a bit of a comeback.

Industrial Production Rises Again

By:: Kirk Haverkamp - MortgageLoan.com | December 15, 2009

U.S. industrial production picked up 0.8 percent in November, marking five consecutive months without a decline and raising hopes that the economy is truly on the mend.

House Approves Creation of Consumer Protection Agency

By:: Kirk Haverkamp - MortgageLoan.com | December 14, 2009

Legislation to establish a Consumer Finance Protection Agency to regulate mortgages, credit cards and other consumer lending was passed by the U.S. House on Friday, along with other measures to regulate financial markets.

Equal Numbers Approved, Rejected for Permanent Loan Mods

By:: Peter King - MortgageLoan.com | December 11, 2009

Nearly as many homeowners are being rejected as are being approved for permanent loan modifications under the government’s main foreclosure prevention program, according to Treasury officials.

How Much of a Down Payment Should You Make?

By:: Kirk Haverkamp - MortgageLoan.com | December 11, 2009

How much of a down payment should you make on your mortgage? Though the usual answer is “whatever you can afford,” it’s really not all that simple – though it’s not difficult to figure out.

Foreclosure Rates Fall Again

By:: Kirk Haverkamp - MortgageLoan.com | December 10, 2009

U.S. foreclosure activity fell for the fourth consecutive month in November but is still expected to set an all-time high for the year, according to new information from the foreclosure data firm RealtyTrac.

Avoiding Mortgage Management Problems

By:: Peter King - MortgageLoan.com | December 10, 2009

How well are you managing your mortgage? It’s an often overlooked aspect of home finance – many borrowers assume that once they sign the loan papers, their only remaining challenge is coming up with the mortgage payment each month. But there’s a lot more to it than that.

Having a mortgage is not like paying your cable or electric bill every month. For one thing, it’s much, much bigger – so it has a far greater potential impact on your life. Your cell phone bill you can simply pay and forget each month.

Overcoming Problems With a Trial Loan Modification

By:: Kirk Haverkamp - MortgageLoan.com | December 09, 2009

Are you one of the lucky ones who’s been able to lower your monthly mortgage bills through the government’s Making Home Affordable (MHA) Program? Well, you may not be out of the woods just yet – lenders are reporting that large numbers of borrowers who obtained trial loan modifications under the program are being turned down for permanent status at the end of their trial period.

So what’s happening? The lenders point to a variety of reasons.

Mortgage Interest Rates Reverse Six-Week Decline

By:: Kara Johnson - MortgageLoan.com | December 09, 2009

Interest rates on 30-year fixed rate mortgages rose last week, breaking a streak of six consecutive weeks of declines, according to figures released today by the Mortgage Bankers Association.

The average interest rate on 30-year fixed rate mortgages rose to 4.88 percent with 1.17 points paid, up from 4.77 percent and 1.0 points the week before.

FDIC May Seek Principal Reductions on At-Risk Mortgages

By:: Kara Johnson - MortgageLoan.com | December 08, 2009

The FDIC may seek to reduce the principal on more than $45 billion in mortgages held by failed banks that it acquired in an effort to help “underwater” homeowners.

One-quarter Reported Delinquent on Trial Loan Mods

By:: Kara Johnson - MortgageLoan.com | December 07, 2009

More than one in four homeowners who obtained trial mortgage loan modifications under the government’s Making Home Affordable Program are already behind on their payments, according to a new information from the Treasury Department.

How Soon Can Your Refinance Your Current Mortgage?

By:: Peter King - MortgageLoan.com | December 05, 2009

How soon can you refinance your mortgage after taking out your existing loan? With interest rates scraping along at historic lows right now, it’s a question many homeowners who bought or refinanced in the last couple years are asking themselves.

Treasury Announces Short Sale Incentive Program

By:: Kirk Haverkamp - MortgageLoan.com | December 04, 2009

As part of its foreclosure prevention efforts, the Obama Administration is launching a new program to encourage short sales and deed-in-lieu of foreclosure transactions for financially pressed homeowners who are unable to obtain loan modifications.

FHA to Raise Lending Requirements for Home Mortgages

By:: Kirk Haverkamp - MortgageLoan.com | December 03, 2009

Getting an FHA home mortgage is about to get more costly and difficult, as regulators take steps to rebuild the federal agency’s shrunken financial reserves and reduce the risk of defaults on FHA-insured mortgages.

Mortgage and Home Ownership Tax Deductions

By:: Peter King - MortgageLoan.com | December 03, 2009

The $8,000 first-time homebuyer tax credit and recently added $6,500 credit for repeat buyers have been getting all the attention. But those are only the beginning of the tax benefits available to those who buy their own homes.

Private Residential Construction Up in October

By:: Kara Johnson - MortgageLoan.com | December 02, 2009

Private residential construction was up in October, following a summer season in which home building rates fell to their lowest levels in 14 years, according to new data from the Commerce Department.

Fannie Mae Gives Homebuyers First Shot at Foreclosures

By:: Kara Johnson - MortgageLoan.com | December 01, 2009

Many potential homebuyers are intrigued by the potential savings to be had in buying foreclosed property. Unfortunately for them, well-funded and market-savvy investors typically swoop in and snap up the plum offerings before the average homebuyer even knows they’re on the market.

Pending Home Sales Up for 9th Straight Month

By:: Kara Johnson - MortgageLoan.com | December 01, 2009

Pending home sales rose for the ninth consecutive month in October and posted their biggest-ever one-year increase as well, according to figures released today by the National Association of Realtors.

New Measures Intended to Speed Up Loan Modifications

By:: Kirk Haverkamp - MortgageLoan.com | November 30, 2009

The White House is turning up the pressure on lenders to step up the pace on finalizing mortgage loan modifications for at-risk homeowners, among widespread complaints that many banks are dragging their feet.

Should You Walk Away From an Underwater Mortgage?

By:: Kirk Haverkamp - MortgageLoan.com | November 28, 2009

Should you walk away from your mortgage? It’s a question many homeowners as pondering, as falling home values have left as many as one-third of those with mortgages “underwater,” owing more than their property is worth.

New Home Sales Rise Again

By:: Peter King - MortgageLoan.com | November 27, 2009

New home sales rose 6.2 percent in October, for the sixth increase in the past seven months, according to new figures released by the Commerce Department.

Mortage Rates Hit Record Lows - Again

By:: Kirk Haverkamp - MortgageLoan.com | November 25, 2009

Mortgage rates fell to record lows again this week, setting or matching all-time records in two major weekly surveys.

Consider Repayment Schedule When Refinacing a Mortgage

By:: Kirk Haverkamp - MortgageLoan.com | November 25, 2009

Looking to save money on your mortgage by refinancing? While the interest rate is the main thing people focus on, the mortgage term – how long it takes to pay off the loan – is an often-overlooked factor that can provide major savings over either the short- or long-term when refinancing a mortgage.

Guidelines for VA Home Loans

By:: Peter King - MortgageLoan.com | November 24, 2009

A VA loan is one of the best deals going in home mortgages. Not only is it one of the last places you can still get a home loan with no money down, the interest rates are competitive as well and you won’t have to pay for private mortgage insurance.

Home Sales Post Record Monthly Gain

By:: Kirk Haverkamp - MortgageLoan.com | November 24, 2009

Existing home sales posted a record gain in October, surging 10.1 percent to their highest level in nearly three years, according to new figures from the National Association of Realtors.

Study: Counseling Dramatically Reduces Foreclosures

By:: Peter King - MortgageLoan.com | November 23, 2009

Financially stressed homeowners who receive foreclosure counseling are far less likely to lose their homes and obtain better terms on loan modifications than homeowners who do not receive counseling, according to a new report.

Can You Afford to Buy a Home?

By:: Kara Johnson - MortgageLoan.com | November 21, 2009

Thinking of becoming a first-time homebuyer? There are certainly a lot of incentives to do so right now, including low prices and mortgage interest rates, plus that $8,000 federal tax credit. But are you ready to take that step?

Mortgage Rates Hit Record Lows

By:: Peter King - MortgageLoan.com | November 20, 2009

Mortgage rates fell again last week, hitting record lows in some weekly surveys.

Do You Qualify for the Expanded Homebuyer Tax Credit?

By:: Peter King - MortgageLoan.com | November 19, 2009

With the recent extension and expansion of the homebuyer federal tax credit, both existing homeowners and first-time buyers are now eligible for a credit. So what do you have to do to qualify?

OCC Calls for Minimum Mortgage Standards

By:: Kirk Haverkamp - MortgageLoan.com | November 19, 2009

The U.S. Comptroller of Currency is urging that all nations adopt minimum mortgage lending standards to avoid some of the practices that led to the recent financial crisis, including bans in the United States on certain types of mortgages that have gotten borrowers into financial difficulty.

New Home Starts Drop Sharply

By:: Kirk Haverkamp - MortgageLoan.com | November 18, 2009

New housing starts and residential building permits fell unexpectedly in October, dealing a blow to hopes that an improving housing market would help lead the economy out of recession.

Jumbo Loan Freeze is Slowly Thawing Out

By:: Kirk Haverkamp - MortgageLoan.com | November 18, 2009

There’s good news for well-off homebuyers looking to take advantage of current market conditions – jumbo mortgages are coming back.

Mortgage Delinquencies at All-Time High

By:: Peter King - MortgageLoan.com | November 17, 2009

Mortgage delinquency rates hit an all-time high in the third quarter of the year, with 6.25 percent of borrowers at least 60 days past due on their home loans.

First-Time Homebuyers Set Record Share of Purchases

By:: Kara Johnson - MortgageLoan.com | November 16, 2009

A record 47 percent of all home purchases in the past year were first-time homebuyers, according to a new survey of home buyers and sellers by the National Association of Realtors.

Should You Still Consider an ARM?

By:: Kara Johnson - MortgageLoan.com | November 14, 2009

Is an adjustable rate mortgage (ARM) right for you? Although ARMs got a bad reputation during the meltdown of the housing and financial markets, they’re still out there and still make sense for some borrowers. The question is, are you one of them?

FHA Reserve Fund Falls to Fraction of Required Minimum

By:: Kirk Haverkamp - MortgageLoan.com | November 13, 2009

Significant losses on mortgage loans have caused the Federal Housing Administration’s cash reserves to fall well below the minimum required by law, raising concerns that the self-funded agency may require a congressional bailout.

Rules Changing for FHA Streamline Mortgage Refinance

By:: Kirk Haverkamp - MortgageLoan.com | November 12, 2009

What has been one of the easiest and most foolproof ways to refinance a mortgage is about to get a bit tougher. New rules for the FHA Streamline refinance take effect Nov. 17, meaning approval will no longer be practically guaranteed for borrowers with FHA mortgages.

Foreclosure Rates Decline for Third Straight Month

By:: Kirk Haverkamp - MortgageLoan.com | November 12, 2009

Foreclosure filings fell for the third consecutive month in October, but still remained at an elevated level, according to figures released today by RealtyTrac.

Mortgage Rates Fall to Lowest Level Since Spring

By:: Peter King - MortgageLoan.com | November 12, 2009

Mortgage interest rates fell last week to their lowest levels since the astonishingly low levels of last spring, according to two major rate surveys released today.

Delays Reported in Making Trial Loan Modifications Permanent

By:: Peter King - MortgageLoan.com | November 11, 2009

With more than 650,000 trial mortgage loan modifications now under way, the Obama administration’s Making Home Affordable Program (MHA) appears to be gaining momentum after a slow start. But there are new reports that relatively few of those are being converted into permanent status, even after the three month trial period has ended.

Can You Get Away With Not Paying a Second Mortgage?

By:: Peter King - MortgageLoan.com | November 10, 2009

Many of the people who are in serious financial difficulty with their home loans have both a first and second mortgage. Faced with foreclosure and perhaps even bankruptcy, some may wonder “what if I just stop paying the second mortgage? What’s the worst they can do?”

Median Home Prices Rise for Second Consecutive Quarter

By:: Kara Johnson - MortgageLoan.com | November 10, 2009

U.S. median sales prices on existing home rose for the second consecutive quarter in the three months ending Sept. 30, according to new figures released today, although prices still remained well below the levels of one year ago.

Share of "Underwater" Mortgages Declines

By:: Kara Johnson - MortgageLoan.com | November 09, 2009

The percentage of homeowners who are “underwater” shrank in the third quarter of this year, an encouraging sign that the residential real estate market may be stabilizing.

Getting a Mortgage When Self-Employed

By:: Kirk Haverkamp - MortgageLoan.com | November 07, 2009

Getting or refinancing a mortgage when you’re self-employed can be a real challenge these days. With the virtual disappearance of stated income loans, it’s become much more difficult for anyone who doesn’t get a regular paycheck to qualify for a home loan. But it still can be done.

Refinancing Your Mortgage When You're Underwater on Your Loan

By:: Peter King - MortgageLoan.com | November 06, 2009

With the steep drops in home values in recent years, many homeowners who would like to refinance their mortgage to take advantage of the dirt cheap interest rates now available have been unable to do so, because they owe more than their property is worth. But now they have an option.

Fannie Mae Announces Rent-to-Stay Foreclosure Relief Program

By:: Kara Johnson - MortgageLoan.com | November 06, 2009

Some homeowners facing foreclosure will be able to remain in their property as renters under a new program announced Thursday by Fannie Mae.

Senate Approves Homebuyer Tax Credit Extension

By:: Kirk Haverkamp - MortgageLoan.com | November 05, 2009

The U.S. Senate has voted unanimously to extend the $8,000 first-time homebuyer tax credit and extend a credit to existing homeowners as well, virtually guaranteeing that the popular program will continue past the current Nov. 30 deadline.

Approval by the House of Representatives and President Obama is considered certain. The House is expected to vote to approve the measure today and send it to the president for his signature.

What If the Lender Rejects the House You've Chosen?

By:: Kara Johnson - MortgageLoan.com | November 05, 2009

So you’ve found the house of your dreams. The price is right, the buyer accepts your offer and your lender has already prequalified you for a mortgage of that size. So you submit your paperwork, the lender takes it under consideration and then after a few weeks – rejects the sale.

Job Losses Decline for Seventh Straight Month

By:: Kara Johnson - MortgageLoan.com | November 04, 2009

Job losses declined in October for the seventh consecutive month, although actual gains in employment are still probably several months off, according to today’s National Employment Report from payroll giant ADP. Nonfarm private employment decreased by 203,000 in October, according to ADP, the smallest decrease since July 2008. September’s job losses were also revised to 227,000, a 27,000 improvement over the previous estimate of 554,000.

Homeowners Save $3 Billion by Refinancing Mortgages

By:: Peter King - MortgageLoan.com | November 03, 2009

U.S. homeowners who refinanced their mortgages in the first nine months of the year will save a combined $3 billion over the first 12 months of their new loan, government supported lender Freddie Mac is reporting.

Home Sales, Residential Construction Increase

By:: Kara Johnson - MortgageLoan.com | November 02, 2009

Pending home sales and residential construction both posted significant increases in September, according to separate reports released today by the Commerce Department and National Association of Realtors (NAR), signaling that the housing market may be pulling out of its doldrums.

Good Time for A Home Improvement Loan?

By:: Kara Johnson - MortgageLoan.com | November 02, 2009

Thinking about a home improvement project? With carpenters and other skilled trades hungry for work, and mortgage interest rates their lowest in decades, it looks like a great time to tackle a major home renovation. The major problem is, can you get a home equity loan to fund it?

Figuring Out if You Should Refinace Your Mortgage

By:: Peter King - MortgageLoan.com | October 31, 2009

It's not a question with a simple answer. Whether or not refinancing makes sense for you will depend on the type of loan you have, the interest rate you're paying, your credit score, how much equity you have in the home and a variety of other factors. And some of these will determine whether you're even able to refinance in the first place.

Personal Spending Falls Even as GDP Rises

By:: Peter King - MortgageLoan.com | October 30, 2009

Personal incomes and spending fell in September, even as a rise in the gross domestic product has economists declaring that the recession has ended.

Senate Said to Agree on Extending Homebuyer Tax Credit

By:: Kirk Haverkamp - MortgageLoan.com | October 29, 2009

The U.S. Senate has reached broad agreement on a bill to extend the $8,000 first-time homebuyer tax credit and offer a credit to existing homeowners as well, according to numerous media sources.

Rates, Home Prices Make 15-Year Mortgage More Attractive

By:: Kara Johnson - MortgageLoan.com | October 29, 2009

Consider this: right now, you can purchase a home with a 15-year mortgage and end up with a monthly payment that is far less than you would have paid for the same property under a 30-year loan only three years ago. Sound interesting? Read on.

Abusive Credit Card Pratices Increase Despite Law

By:: Kirk Haverkamp - MortgageLoan.com | October 28, 2009

Virtually all credit cards offered online by major banks still include abusive practices that will be outlawed early next year, according to a new report from the Pew Charitable Trust.

How Do Loan Modifications, Other Measures Affect Credit?

By:: Peter King - MortgageLoan.com | October 27, 2009

Probably the most confusion surrounds loan modifications. That's when the lender agrees to modify the terms of your mortgage to make it more affordable or perhaps help you get current again on your loan after a temporary financial difficulty.

Government Mortgage Refinance Program Struggling

By:: Kirk Haverkamp - MortgageLoan.com | October 26, 2009

A government program designed to help at-risk homeowners refinance their mortgages is struggling, even as conventional mortgage refinances have surged in response to historically low interest rates.

Should You Use a Mortgage Broker?

By:: Kirk Haverkamp - MortgageLoan.com | October 23, 2009

One of the questions that pops up when buying a home or refinancing a mortgage is should you use a mortgage broker? A broker can help you find a good deal on home loan and simplify the process of shopping for a mortgage, but often at a higher cost than if you'd obtained the loan yourself. So what to do?

Existing Home Sales Up Strongly in September

By:: Peter King - MortgageLoan.com | October 23, 2009

Existing home sales posted a strong increase in September, according to the National Association of Realtors, as first-time homebuyers took advantage of low interest rates and a soon-to-expire $8,000 tax credit.

Leading Economic Indicators Up Six Straight Months

By:: Peter King - MortgageLoan.com | October 22, 2009

The Index of Leading Economic Indicators rose again in September, making six straight months the index has risen and providing hope that an economic recovery is in the offing.

Report: Foreclosure More Profitable than Loan Modifications for Servicers

By:: Kirk Haverkamp - MortgageLoan.com | October 21, 2009

The incentives mortgage servicers receive for managing a home loan are a significant obstacle to loan modification that would help financially troubled borrowers avoid foreclosure, according to a new report from the National Consumer Law Center.

Looking Out for Reverse Mortgage Rip-Offs

By:: Peter King - MortgageLoan.com | October 21, 2009

Reverse mortgages can be a godsend for seniors who are short on cash but have equity built up in their homes. Unfortunately, they can also be a way for unscrupulous operators to help themselves to some of the hard-earned cash retirees have built up over their lifetimes. So how to tell the difference between a legitimate financial opportunity and a reverse mortgage scam?

Home Finance Agencies to Get Lending Boost

By:: Kara Johnson - MortgageLoan.com | October 20, 2009

A new program to help low- and moderate-income homebuyers obtain mortgages has been announced by the Obama administration.

Planning for Maintenance Costs When Buying a Home

By:: Kirk Haverkamp - MortgageLoan.com | October 19, 2009

How much will you need to spend on home maintenance? It's a crucial thing to know when figuring out what you can afford when taking out a mortgage to buy a house, but one that many potential homeowners pay shockingly little attention to.

Foreclosures Hitting High-End Homes

By:: Kara Johnson - MortgageLoan.com | October 19, 2009

Thirty percent of U.S. foreclosures are occurring among the top third, an indication that the foreclosure crisis is hitting well-to-do homeowners in almost equal proportion to lower income families.

Locking In a Mortgage Interest Rate

By:: Peter King - MortgageLoan.com | October 17, 2009

Mortgage interest rates are unusually low right now, but it's not certain how long they'll stay that way. So when applying for a mortgage, either to purchase a home or refinance an existing loan, you'll probably want to lock in the rate when you apply.

Mortgage Rates Up Slightly

By:: Kara Johnson - MortgageLoan.com | October 16, 2009

Mortgage rates rose slightly this past week, but still remained under 5 percent for a 30-year fixed rate mortgage, according to the weekly survey by government-backed lender Freddie Mac.

Calculating How Much Your Home Is Worth

By:: Peter King - MortgageLoan.com | October 15, 2009

How much is your home worth these days? The nationwide decline in home values over the past three years has many people worried about how far "underwater" they might be on their own mortgages, i.e., whether they owe more than their home is worth. It's a particular concern for anyone who's thinking about refinancing their mortgage, but just about anyone with a mortgage is probably concerned as well.

Record Foreclosures in Third Quarter of 2009

By:: Kara Johnson - MortgageLoan.com | October 15, 2009

U.S. foreclosure filings hit an all-time high in the third quarter of the year, according to the foreclosure data firm RealtyTrac, with one home in 136 receiving at least one foreclosure filing during that period.

New Retail Sales Figures Seen as Positive Sign

By:: Kara Johnson - MortgageLoan.com | October 14, 2009

Retail sales fell in September, but analysts are still hailing it as a hopeful sign for the economy. That's because nonautomotive sales actually rose for the second straight month and more than analysts expected.

Unemployment Insurance Can Cover Your Mortgage Payments

By:: Kirk Haverkamp - MortgageLoan.com | October 14, 2009

Thinking about buying a home but nervous about doing so in today's economy? Do you already own a home and are worried about what would happen if you lose your job? You may want to consider unemployment mortgage insurance.

Home Prices Down for Second Straight Month: IAS360

By:: Kirk Haverkamp - MortgageLoan.com | October 13, 2009

U.S. home prices fell slightly in August, raising concerns of a new downturn following several months in which the market appeared to be rallying, according to a new report from national foreclosure management company Integrated Asset Services (IAS).

Loan Modification Program Inadequate, Report Says

By:: Peter King - MortgageLoan.com | October 12, 2009

Current government programs to help homeowners keep their homes are inadequate to address a coming wave of foreclosures and will only delay foreclosure for many, according to a new report from the bipartisan Congressional Oversight Panel.

Freddie Mac Closing Cost Assistance Ending

By:: Kirk Haverkamp - MortgageLoan.com | October 12, 2009

Time is rapidly running out on one of the best deals going for homebuyers. No, not the $8,000 first-time homebuyer tax credit - although that's due to expire Nov. 30. A more urgent deadline is the closing cost assistance offered under Freddie Mac's HomeSteps SmartBuy program, which expires at the end of this month.

Should You Pay Discount Points on Your Mortgage?

By:: Peter King - MortgageLoan.com | October 09, 2009

Mortgage interest rates are unusually low right now, close to all-time lows for a 30-year fixed rate loan. So with rates already so low, is it worth paying points to try to get the rate even lower?

FHA Won't Need Bailout, Commissioner Says

By:: Kirk Haverkamp - MortgageLoan.com | October 09, 2009

The Federal Housing Administration may be running low on cash, but it won't need a government bailout, FHA Commissioner David Sterns told members of Congress on Thursday.

Prices Cut On One Listed Home in Four

By:: Peter King - MortgageLoan.com | October 08, 2009

More than one-quarter of all nondistressed homes for sale in the U.S. have seen at least one price cut since going on the market, at an average discount of 10 percent off the listed price, the real estate data firm Trulia Inc. reported today.

ARMs, Interest-Only Loans Still Available

By:: Kara Johnson - MortgageLoan.com | October 08, 2009

If you've been following the mortgage news lately, you might get the impression that it's all but impossible to get anything but a standard fixed-rate mortgage these days. But while it's true that many of the so-called "exotic" mortgages that were popular a few years ago have pretty much disappeared, consumers still have other options besides a "plain vanilla" type mortgage, including ARMs (adjustable rate mortgages) and interest-only loans, to name a couple.

Mortgage Pitfalls to Avoid When Buying or Refinancing

By:: Kara Johnson - MortgageLoan.com | October 07, 2009

Mortgage rates are low, low, low right now - close to all-time minimums. But those low rates can still cost you an awful lot of money if you're not careful to avoid some of the serious mistakes people make on home loans when buying a home or refinancing.

Mortgage Rates Fall Again

By:: Kirk Haverkamp - MortgageLoan.com | October 07, 2009

Mortgage applications surged to their highest level since last spring, as 30-year interest rates remained below 5 percent for the third consecutive week, according to the weekly survey by the Mortgage Bankers Association.

Irate Consumers Cancelling Credit Cards

By:: Kirk Haverkamp - MortgageLoan.com | October 06, 2009

Consumers are becoming increasingly upset with their credit card companies, with about one in six recently closing out at least one card in response to actions taken by their credit card issuers.

FHA Adopting New Rules for Condo Mortgages

By:: Kara Johnson - MortgageLoan.com | October 05, 2009

Buying a condo is about to get more complicated, especially if you're thinking about getting an FHA mortgage.

Blacks, Hispanics See Increased Mortgage Rejection Rates

By:: Kara Johnson - MortgageLoan.com | October 05, 2009

Black and Hispanic mortgage loan applicants in the United States continued to face higher rejection rates on than whites and Asians last year, according to data released by the Federal Reserve last week.

Home Sales Rise, Interest Rates Drop

By:: Kirk Haverkamp - MortgageLoan.com | October 02, 2009

Pending home sales rose for the seventh consecutive month in August, the National Association of Realtors has reported, the longest streak of monthly increases since the organization began reporting data in 2001.

Obtaining A Joint Mortgage or Shared Home Ownership

By:: Peter King - MortgageLoan.com | October 02, 2009

If you're thinking about buying a home, chances are you're not planning to do it by yourself.So how do you go about getting a mortgage or buying a home by two or more people? There are two main ways to do it - either through a joint mortgage or by joint ownership

Six Bad Reasons Not to Seek Foreclosure Assistance

By:: Peter King - MortgageLoan.com | October 01, 2009

With the economy in the shape it is, a lot of people need help in obtaining a loan modification or pursing other steps to avoid foreclosure. But while there are a variety of resources to help at-risk borrowers with their mortgages and hold on to their homes, many of them are too intimidated to take advantage of them.

Foreclosures Up, But New Filings Slow

By:: Kara Johnson - MortgageLoan.com | October 01, 2009

Completed foreclosures rose almost 17 percent in the second quarter of the year, with lenders reclaiming 106,000 properties from U.S. homeowners, according to official government figures released Wednesday.

Gross Domestic Product Revised Slightly Upward

By:: Kirk Haverkamp - MortgageLoan.com | September 30, 2009

The U.S. gross domestic product shrunk at an annual rate of 0.7 percent in the second quarter of the year, far slower than in the preceding quarter and less than previous estimates had predicted.

The Actual Cost of Getting a Mortgage

By:: Peter King - MortgageLoan.com | September 30, 2009

What will your mortgage or refinance actually cost you? Many borrowers focus only on the interest rate, because that's the main thing that determines what you're going to pay. Unfortunately, they too often ignore a wide range of other factors that will affect what the overall cost of your mortgage will be.

Home Prices Up, But Consumers Pessimistic

By:: Kara Johnson - MortgageLoan.com | September 29, 2009

U.S. home prices rose for the third straight month in July, according to a leading index, but the good news comes against a background of more recent data showing continued trouble for the economy.

Myths and Misconceptions About Credit Scores

By:: Kirk Haverkamp - MortgageLoan.com | September 28, 2009

If you're planning to apply for a mortgage, either to purchase a home or refinance your existing home loan, you're probably concerned about your credit score. While a good credit score is important, a lot of people worry about it needlessly. That's partly because they don't understand how credit scores work - and there's a lot of bad information out there about what does and does not affect your score.

State Mortgage Agences May Get $35 Billion Assistance

By:: Kara Johnson - MortgageLoan.com | September 28, 2009

The U.S. Treasury will provide up to $35 billion over the next three years to state housing agencies to support low- and moderate income mortgages, according to new reports.

Advice for First-Time Homebuyers

By:: Peter King - MortgageLoan.com | September 26, 2009

Thinking about buying your first home? There's a lot of good reasons to do so right now - bargain prices, low mortgage interest rates and that $8,000 first-time homebuyer tax credit. But for the first-time homebuyer, it can be intimidating.

New Home Sales Up; Existing Home Sales Down

By:: Kirk Haverkamp - MortgageLoan.com | September 25, 2009

Sales of newly constructed single-family homes rose for the fifth month in a row in August, according to figures released today by the U.S. Census Bureau and Department of Housing and Urban Development (HUD).

Fed to Ease Out of Efforts to Keep Rates Low

By:: Kirk Haverkamp - MortgageLoan.com | September 24, 2009

Seeking to avoid a big jump in interest rates, the Federal Reserve has voted to stretch out its program to buy mortgage-backed securities and other debt to ease the impact on credit markets.

Tighter Rules for FHA Streamline Refinance

By:: Kirk Haverkamp - MortgageLoan.com | September 24, 2009

Thinking about refinancing an FHA loan, using that oh-so-easy FHA Streamline Refinance? Better act fast.

As of Jan. 1, the FHA is making some major changes to the highly popular Streamline Refinance and may of them won't be in the borrower's favor. In fact, they'll make qualifying for the loan significantly more difficult.

125 Percent Refinance May Present Challenges

By:: Peter King - MortgageLoan.com | September 23, 2009

For homeowners who are "underwater" on their mortgages, the 125 percent refinance option offered under the administration's Making Home Affordable Program may seem like a dream come true. But making that dream a reality could turn out to be a challenge.

Mortgage Rates Back Below 5 Percent

By:: Kara Johnson - MortgageLoan.com | September 23, 2009

Interest rates on 30-year mortgages fell below the 5 percent barrier last week for the first time since May, prompting a surge in homeowners seeking to refinance their mortgages, according to the weekly rate survey from the Mortgage Bankers Association.

FHFA Reports Slight Gain in Home Prices

By:: Peter King - MortgageLoan.com | September 22, 2009

U.S. housing prices rose 0.3 percent in July, somewhat weaker than analysts had expected, according to figures released today by the Federal Housing Finance Agency (FHFA).

Investing in a fixer-upper

By:: Peter King - MortgageLoan.com | September 21, 2009

The current housing market offers some great opportunities for those interested in buying a fixer-upper. The combination of low housing prices and mortgage rates, plus depressed demand for skilled labor and building materials, makes it an attractive time for buying a fixer-upper if you have the time, money and inclination to take one on.

FHA to Tigthen Credit, Appraisal Rules

By:: Kara Johnson - MortgageLoan.com | September 21, 2009

The Federal Housing Administration has announced that it will require higher credit scores and tighten credit requirements in general for both lenders and borrowers, effective January 1.

It's about to get more difficult to obtain an FHA home mortgage. Just how much isn't yet clear.

Secondary Mortgage vs.Home Equity Line of Credit

By:: Kirk Haverkamp - MortgageLoan.com | September 19, 2009

What's the difference between a second mortgage and a home equity line of credit (HELOC)? Both offer ways to tap into, or borrow against, the equity in your home. But there are some significant differences.

15-Year Mortgage Interest Rates Hit Record Low

By:: Kirk Haverkamp - MortgageLoan.com | September 18, 2009

Fifteen-year mortgage rates hit their lowest level in at least 18 years last week, dropping to an average 4.47 percent and 0.6 points, megalender Freddie Mac announced Thursday.

Housing Starts Up Again

By:: Kara Johnson - MortgageLoan.com | September 17, 2009

New housing construction starts rose modestly in August, continuing a generally upward trend since last spring and providing further hope that the housing market and economy are stabilizing after the worst economic downturn since the Great Depression.

10 Mistakes to Avoid When Refinancing a Mortgage

By:: Kara Johnson - MortgageLoan.com | September 17, 2009

With mortgage interest rates as low as they are right now, homeowners can save a lot of money by refinancing their home loan. But it's not as simple as finding a good interest rate and jumping on it - there's a lot more to it than that.

Should You Tap Your Roth IRA for a Down Payment On a Mortgage?

By:: Kirk Haverkamp - MortgageLoan.com | September 16, 2009

Coming up with the down payment for a mortgage can be the single biggest obstacle to home ownership for many aspiring homeowners. For some, tapping into their Roth IRA can provide the necessary funds. The question is, do you really want to break that particular piggy bank?

Bernanke Says Recession Is Probably Over

By:: Kirk Haverkamp - MortgageLoan.com | September 16, 2009

The recession is probably over, at least from a technical standpoint, Federal Reserve Chairman Ben Bernanke said Tuesday, although the economy will likely continue to struggle for another year or more.

Retail Sales Rallied in August

By:: Kara Johnson - MortgageLoan.com | September 15, 2009

U.S. retail sales rose 2.7 percent in July, driven largely by automotive sales but reflecting gains in general merchandise and food service sales as well, the Commerce Department announced today.

Scouting Out Neighborhoods Before a Home Purchase

By:: Kara Johnson - MortgageLoan.com | September 14, 2009

So you're found the perfect house. Right price, right size, no looming maintenance problems. But before you take out a mortgage and sign on the dotted line, there's one more thing you need to be sure of: is it in the perfect neighborhood?

IC Urges Mortgage Help for Jobless

By:: Kirk Haverkamp - MortgageLoan.com | September 14, 2009

In an effort to help homeowners avoid foreclosure, the Federal Deposit Insurance Corp. (FDIC) is urging its partner banks to temporarily reduce mortgage payments for borrowers who have become unemployed or underemployed.

Cramdown Legislation Could Be Revived to Ease Foreclosures

By:: Kirk Haverkamp - MortgageLoan.com | September 11, 2009

U.S. Rep. Barney Frank (D-Mass.) and other leading Democrats have indicated that they may try again to pass "cramdown" legislation giving bankruptcy judges authority to modify mortgages if lenders don't do a better job of assisting at-risk homeowners.

What Does It Cost to Refinance A Mortgage?

By:: Kirk Haverkamp - MortgageLoan.com | September 11, 2009

With interest rates remaining near historic lows, homeowners have been rushing to refinance their mortgages and save money. But a low interest rate is only part of the picture - there's also the question of the fees that must be paid. So what should you expect to pay to refinance your mortgage?

Case-Shiller: Home Prices Rising

By:: Peter King - MortgageLoan.com | September 11, 2009

U.S. home prices rose for the fourth consecutive month in August, according to the monthly Standard & Poors/Case Shiller Index, although rising unemployment and the pending expiration of the first-time homebuyer's tax credit raise doubts about whether the trend can be sustained.

Should You Refinance Your Mortgage as a Debt Consolidation Loan?

By:: Kirk Haverkamp - MortgageLoan.com | September 10, 2009

Thinking about a debt consolidation loan? For someone with a lot of credit card debt and other obligation, rolling all those bills into one monthly payment can seem like an attractive option, particularly when you can get a lower interest rate in the bargain. But there are downsides

Foreclosures ease; loan modifications still lag

By:: Peter King - MortgageLoan.com | September 10, 2009

Foreclosure filings dropped slightly in August, but still remained near record levels, according to figures released this morning by the foreclosure tracking firm RealtyTrac.

Mortgage Rates Approach 5 Percent Mark

By:: Peter King - MortgageLoan.com | September 09, 2009

Applications for new mortgages jumped sharply last week, as 30-year fixed interest rates dropped toward the magic 5 percent level, according to the weekly survey by the Mortgage Bankers Association.

Small Down Payment Boosts Popularity of FHA Mortgage

By:: Kara Johnson - MortgageLoan.com | September 09, 2009

Wishing you could buy a home but lack the money for a down payment? Or does bad credit prevent you from qualifying for a mortgage in the current tight lending environment? An FHA mortgage could be just the ticket for you.

Home Prices Drop Slightly in July

By:: Kara Johnson - MortgageLoan.com | September 08, 2009

U.S. housing prices fell slightly in July, reversing four months of modest gains, according to the latest IAS360 survey of major housing markets.

Cash-Out Refnancing Still an Option for Some

By:: Kirk Haverkamp - MortgageLoan.com | September 08, 2009

Need money? Got equity in your home? A cash-out refinancing might be the right solution for you - and yes, it's still possible despite the collapse of housing values and credit markets.

IRS May Take Closer Look at Mortgage Interest to Catch Tax Dodgers

By:: Kirk Haverkamp - MortgageLoan.com | September 04, 2009

The IRS will likely start taking a closer look at mortgage interest deductions and payments in an effort to identify tax cheats who are underreporting their income or not filing at all.

Can You Save Money With a Bi-Weekly Mortgage?

By:: Kirk Haverkamp - MortgageLoan.com | September 04, 2009

A bi-weekly mortgage is often touted as a fairly painless way for a homeowner to pay off their mortgage faster and save tens of thousands of dollars in the process. But is it really such a good idea?

How Much of a Home Mortgage Can You Afford?

By:: Kirk Haverkamp - MortgageLoan.com | September 02, 2009

It seems that anyone who's still lucky enough to have a job can afford to buy a house these days. Thanks to low mortgage interest rates and housing prices, housing affordability is at an all-time high, according to the National Association of Realtors (NAR). The question is, what is affordable?

Mortgage Rates, Applications Both Fall

By:: Peter King - MortgageLoan.com | September 02, 2009

Mortgage rates fell last week, but the decrease failed to spur homeowners and potential home buyers into additional mortgage refinances and home purchases, according to figures released today by the Mortgage Bankers Association.

Pending Home Sales, Other Economic Indicators Gain

By:: Peter King - MortgageLoan.com | September 01, 2009

Pending home sales rose in July for the sixth consecutive month, the longest streak of monthly increases since the National Association of Realtors (NAR) began tracking the data in 2001, one of several reports today offering positive economic news.

Home Prices May Not Always Follow Housing Supply

By:: Kirk Haverkamp - MortgageLoan.com | September 01, 2009

Buying a home, unlike most purchases Americans make, involves negotiation. And to negotiate successfully, you have to know what's on the market.But prices may not always follow the classic rules of supply and demand.

New Consumer Mortgage Protections Due Soon

By:: Kirk Haverkamp - MortgageLoan.com | August 31, 2009

Mortgage rules are about to change, with new consumer protections going into effect on Oct. 1.

"Walkable" Communities Said to Have Higher Property Values

By:: Kara Johnson - MortgageLoan.com | August 31, 2009

Communities with walkable neighborhoods command higher home prices than similar properties where a car is required for getting around, according to a recent study of 15 major urban areas.

Consumer Spending Up Slightly

By:: Peter King - MortgageLoan.com | August 28, 2009

Consumer spending rose 0.2 percent in July, increasing for the third month in a row, although at a lower rate than the month before, the Commerce Department reported today.

Timing the Housing Market?

By:: Peter King - MortgageLoan.com | August 28, 2009

Despite the current combination of low interest rates and housing prices, many would-be homebuyers are still leery of jumping into the market at this point. Fearful that home prices may yet drop further, they're holding out for stronger signs of an economic recovery and a bottomed-out housing market.

Mortgage Rates Largely Unchanged This Week

By:: Kara Johnson - MortgageLoan.com | August 27, 2009

Mortgage rates remained essentially unchanged this past week, rising only by the smallest of margins, according to two of the nation's leading rate surveys.

New Home Sales Increase for Fourth Straight Month

By:: Peter King - MortgageLoan.com | August 26, 2009

Sales of newly constructed single-family homes rose for the fourth month in a row in July, increasing almost 10 percent to a seasonally adjusted annual rate of 433,000 units.

New Fannie Mae Rules to Affect Mortages, Refinancing

By:: Kara Johnson - MortgageLoan.com | August 26, 2009

Though it hasn't attracted much attention, Fannie Mae has issued new lending guidelines effective Sept. 1 that will significantly influence how home mortgages are written.

New Credit Rating Formula Taking Effect

By:: Kara Johnson - MortgageLoan.com | August 25, 2009

A new credit scoring model, called FICO 08, is finally on the verge of being adopted by lenders.If you're thinking about taking out a mortgage, getting a new credit card or taking out any other kind of consumer debt, it could affect you.

Home Prices Up Nearly 3 Percent in Second Quarter

By:: Kirk Haverkamp - MortgageLoan.com | August 25, 2009

U.S. home prices rose nearly 3 percent in the second quarter of the year, the first quarterly gain in housing prices in nearly three years, according to the latest Standard & Poor's/Case-Shilling Home Price Index.

Indianapolis Continues to Lead Nation in Housing Affordability

By:: Peter King - MortgageLoan.com | August 24, 2009

Indianapolis continues to lead the nation in home affordability among major cities, with nearly 95 percent of all homes affordable by a family earning the area's median income.

Should You Use a Home Equity Loan to Pay Off Credit Cards?

By:: Kirk Haverkamp - MortgageLoan.com | August 24, 2009

With credit card interest rates rising right through the roof, some homeowners may be wondering whether a home equity loan or line of credit (HELOC) is the way to get their debts under control. The answer is a definite maybe.

Home Sales Post Biggest Increase in 10 Years

By:: Kirk Haverkamp - MortgageLoan.com | August 21, 2009

Sales of existing homes rose sharply in July, rising 7.2 percent in the biggest monthly increase in at least 10 years, according to figures released today by the National Association of Realtors (NAR).

Long-term Affordability in a Loan Modification

By:: Peter King - MortgageLoan.com | August 21, 2009

Getting a mortgage loan modification can be a big help when you're in tough financial straits. However, the mere fact that you've been able to get a loan mod may not by itself be enough to ensure that you can stave off foreclosure.

Mortgage Rates Drop to Lowest Level in Three Months

By:: Kirk Haverkamp - MortgageLoan.com | August 20, 2009

Average 30-year mortgage rates dropped to their lowest level in nearly three months this past week, falling to 5.12 percent in the weekly Freddie Mac mortgage rate survey released this morning.

Can Bankruptcy Help You Avoid Foreclosure?

By:: Kara Johnson - MortgageLoan.com | August 20, 2009

So you're in default on your mortgage. You've several months behind on your payments. You've tried and failed to get a loan modification and work out a repayment schedule, and foreclosure is looming. Should you consider declaring bankruptcy?

Homeowners Optimism Over Housing Prices Increases

By:: Peter King - MortgageLoan.com | August 19, 2009

U.S. homeowners are increasingly optimistic about their future home values, even though they continue to overestimate just how well those values have been holding up in the current downturn, according to a new report.

Time Running Out on $8,000 Tax Credit

By:: Peter King - MortgageLoan.com | August 19, 2009

The $8,000 tax credit for first-time homebuyers is a great deal for those looking to buy their first home. But time is running out on the program, which expires Nov. 30.

Single Family Construction Permits Rise

By:: Kara Johnson - MortgageLoan.com | August 18, 2009

Construction permits for single-family homes rose again in July, increasing 5.8 percent to an annualized rate of 458,000, according to figures released today by the Commerce Department.

New Credit Card Rules Could Bring Higher Fees

By:: Peter King - MortgageLoan.com | August 17, 2009

New credit card rules are taking effect this week - which for consumers, could be a mixed blessing.

Pace of Mortgage Delinquencies Slows

By:: Kara Johnson - MortgageLoan.com | August 17, 2009

Mortgage loan delinquencies increased for the 10th straight quarter from April to June, hitting an all-time high of 5.81 percent of all home loans. However, the rate of increase slowed for the first time since the recession began, suggesting that the mortgage market may be stabilizing, according to the credit reporting company Transunion, which released the report.

Refinancing a Mortgage With Bad Credit

By:: Kara Johnson - MortgageLoan.com | August 15, 2009

So you're looking to refinance your mortgage but you've got bad credit. What can you do?

More Home Sellers Reducing Asking Price

By:: Peter King - MortgageLoan.com | August 14, 2009

One-quarter of all U.S. homes for sale have seen at least one price reduction since being listed, as more home sellers are forced to readjust their expectations in a declining home market.

Foreclosure Rate Sets New Monthly Record - Again

By:: Peter King - MortgageLoan.com | August 13, 2009

The U.S. foreclosure rate rose 7 percent in July, and set a new record for the third time in five months, according to the foreclosure marketing firm RealtyTrac, in a report released today.

Buying a Home Through a Short Sale

By:: Peter King - MortgageLoan.com | August 12, 2009

For those looking to pick up a bargain in the current housing market, a short sale may be appealing. But while a short sale can offer significant savings to a savvy and patient homebuyer, it can also be a frustrating and potentially hazardous experience for the unwary.

Existing Home Sales Rise

By:: Kara Johnson - MortgageLoan.com | August 12, 2009

Sales of existing homes posted a modest gain in the second quarter of 2009, rising 3.8 percent to an annual rate of 4.76 million units, according to figures released today by the National Association of Realtors.

New York Offers New Tax Credit for Homebuyers

By:: Kirk Haverkamp - MortgageLoan.com | August 11, 2009

There's a new tax credit for first-time homebuyers in New York state that allows them to deduct 20 percent of their mortgage interest payments from their federal income taxes. Better yet, it allows them to do it for the life of the loan.

Productivity Posts Strongest Gain in Six Years

By:: Kirk Haverkamp - MortgageLoan.com | August 11, 2009

U.S. productivity rose at an annual rate of 6.4 percent in the second quarter of the year, the biggest increase in nearly six years, according to figures released this morning by the Labor Department.

Most Economists Say Recession is Ending

By:: Kara Johnson - MortgageLoan.com | August 10, 2009

Most economists believe the recession is either ending or has already ended, according to a leading survey of private economists released this morning.

Report Predicts Half of Mortgages Underwater by 2011

By:: Peter King - MortgageLoan.com | August 07, 2009

Nearly half of U.S. homeowners with mortgages could soon end up owing more on their loans than their property is worth, according to a new report from Deutsche Bank.

Guide to Real Estate Euphemisms Provides Information and Entertainment

By:: Kara Johnson - MortgageLoan.com | August 07, 2009

So maybe the current low mortgage rates and housing prices have you thinking about buying a home. If you haven't already, you'll quickly find out that part of the challenge is decoding the property descriptions in the real estate listings.

Avoiding Credit Repair Scams

By:: Kara Johnson - MortgageLoan.com | August 06, 2009

With foreclosures and credit delinquencies mounting, more and more people are suffering damaged credit.

No Consistent Trend in Week's Mortgage Rates

By:: Kara Johnson - MortgageLoan.com | August 06, 2009

Mortgage rates once again posted a mixed performance this past week, with two of the major surveys reporting declines against one that reported an increase.

Pending Homes Sales Up for Five Straight Months

By:: Kirk Haverkamp - MortgageLoan.com | August 05, 2009

Pending home sales posted their fifth straight monthly increase in June, according to new figures from the National Association of Realtors (NAR), the longest streak of consecutive monthly increases since July 2003.

Bargaining for a Better Loan Modification

By:: Peter King - MortgageLoan.com | August 04, 2009

Getting a loan modification on your mortgage can be a real challenge. But once the bank says yes and offers to modify the terms of your loan, there's yet another challenge to face - deciding whether to accept the offer or not.

First Lender Loan Modification Rankings Issued

By:: Peter King - MortgageLoan.com | August 04, 2009

The first "report card" on how well lenders are doing in modifying mortgage loans under the Making Home Affordable Program (MHA) has been released, and there's a big difference between the top and bottom of the class.

5 Rules for Mortgage Shopping

By:: Kirk Haverkamp - MortgageLoan.com | August 03, 2009

A lot of people made mistakes in buying homes and shopping for mortgage financing in recent years. The current foreclosure crisis makes that pretty clear. So how do you avoid repeating their mistakes if you're looking to take advantage of the current combination of low housing prices and interest rates, either to buy a new home or refinance an existing mortgage?

Foreclosures, Delinquencies Exceed Loan Modifications

By:: Kirk Haverkamp - MortgageLoan.com | August 03, 2009

Foreclosures and mortgage loan delinquencies are outpacing loan modifications, despite the Obama administration's efforts to help financially pressed Americans avoid losing their homes.

New Truth-in-Lending Protections Take Effect

By:: Kara Johnson - MortgageLoan.com | July 31, 2009

They haven't drawn a lot of attention, but some new consumer protection rules under the Truth in Lending Act took effect July 30. Here's a rundown on how they'll affect you if you're planning to purchase a new home or refinance your current mortgage.

California, Florida Cities Dominate Foreclosure Rankings

By:: Kirk Haverkamp - MortgageLoan.com | July 31, 2009

Sun Belt cities continue to be pummeled by foreclosures, with California and Florida heavily dominating the list of worst-affected communities, according to new data from the foreclosure management firm RealtyTrac.

FHA to Begin Offering Makng Home Affordable Loan Modications

By:: Kara Johnson - MortgageLoan.com | July 30, 2009

Until now, financially pressed homeowners with an FHA-backed mortgage couldn't obtain a loan modification under the generous terms of the government's Making Home Affordable Program (MHA). But that's about to change.

Lenders Pressured to Modify More Mortgages

By:: Kirk Haverkamp - MortgageLoan.com | July 30, 2009

The Obama Administration is putting increased pressure on the nation's lenders to step up the pace of mortgage loan modifications performed under the government's Making Home Affordable (MHA) foreclosure avoidance program.

Some Lenders Farming Out Loan Modification Work to Third Parties

By:: Kirk Haverkamp - MortgageLoan.com | July 29, 2009

An increasing number of mortgage lenders and servicers, mostly smaller ones, are turning to third-party loss mitigation companies to assist them in working out loan modifications for customers who are falling behind on their mortgages.

Elderly Increasingly Rely on Credit Cards for Medical,Other Expenses

By:: Peter King - MortgageLoan.com | July 29, 2009

Elderly consumers are piling up credit card debt at a rate far exceeding all other age groups, with health care costs and deteriorating values of retirement savings causing many age 65 and older to increasingly rely on plastic for routine living expenses.

New Home Sales Jump

By:: Kirk Haverkamp - MortgageLoan.com | July 28, 2009

Sales of newly constructed homes rose 11 percent in June, according to new data released by the Commerce Department, as buyers continue to be drawn back into the market by low prices, tax incentives and mortgage rates that remain near historic lows.

New Rules On Appraisals Draw Fire

By:: Kara Johnson - MortgageLoan.com | July 28, 2009

If you're thinking about buying a home or refinancing your current mortgage, you're going to need an appraisal so the lender has an accurate evaluation of what the property is worth. But recently, that's gotten a bit more complicated, thanks to a new rule called the Home Valuation Code of Conduct.

If you're thinking about buying a home or refinancing your current mortgage, you're going to need an appraisal so the lender has an accurate evaluation of what the property is worth.

New Rules Would Require Clearer Disclosure of Mortgage Terms

By:: Kara Johnson - MortgageLoan.com | July 27, 2009

New rules designed to provide consumers with a clearer understanding of the potential costs and risks of a particular type of loan when applying for a mortgage or home equity line of credit (HELOC) have been proposed by the Federal Reserve Board of Governors.

Administration Considers Mortgage Assistance for Unemployed

By:: Peter King - MortgageLoan.com | July 27, 2009

Of all the programs the government has put forward to help homeowners avoid foreclosure, none of them do much about the underlying problem of unemployment. But that could be about to change.

Mortgage Rates Show Mixed Results

By:: Kara Johnson - MortgageLoan.com | July 24, 2009

Mortgage rates posted a mixed performance this past week, with the three leading weekly surveys showing significant disagreement over which way rates are headed.

Avoiding Foreclosure Avoidance Scams

By:: Kirk Haverkamp - MortgageLoan.com | July 24, 2009

Bad times, unfortunately, sometimes bring out the worst in people. That's particularly true in the case of scam artists, who tend to proliferate during economic downturns. As the number of homeowners at risk of foreclosure or in other financial difficulty has grown, there's also been an increase in the number of con artists seeking to profit from their misfortune.

Existing Home Sales Up for Third Straight Month

By:: Peter King - MortgageLoan.com | July 23, 2009

Sales of existing homes rose for the third month in a row in June, the first time that's happened in five years, according to survey data released today by the National Association of Realtors.

Study: Paying Off Mortage Beats Investments for Retirees

By:: Kara Johnson - MortgageLoan.com | July 23, 2009

For a retiree with a mortgage, what's the best option? Use your accumulated savings and investments to pay off the mortgage and live debt-free? Or to hang onto those savings and investments to provide liquidity and earnings, while continuing to pay down the mortgage as usual?

Opportunities and Challenges for Repeat Home Buyers

By:: Kirk Haverkamp - MortgageLoan.com | July 22, 2009

For those fortunate enough to be secure in their employment and finances, the current housing market is very appealing. But for current homeowners who are looking to move up, things can be a bit more challenging right now than for those who are buying for the first time.

New Limits on Credit Rating Agencies Proposed

By:: Kara Johnson - MortgageLoan.com | July 22, 2009

New rules to tighten regulation of credit rating agencies, which were blamed for failing to properly assess the risk of mortgage-backed securities prior to the collapse of credit markets last fall, are being proposed by the Obama Administration.

203(k) Mortgage Covers Both Purchase and Repairs

By:: Kara Johnson - MortgageLoan.com | July 21, 2009

Foreclosed properties can offer some great bargains, but they often require a fair amount of repairs to make them livable. Fortunately, there's an FHA program - the 203(k) loan - that enables home buyers to roll the purchase price and estimated cost of repairs into a single mortgage right up front.

FHA Mortgages Set Record in June

By:: Peter King - MortgageLoan.com | July 21, 2009

Nearly 186,000 Federal Housing Administration (FHA) loans were made in June, the most in the agency's history, as its relatively relaxed lending standards continue to attract homebuyers squeezed out of other credit markets.

Leading Economic Indicators Rise Again

By:: Kara Johnson - MortgageLoan.com | July 20, 2009

The Index of Leading Economic Indicators rose for the third straight month in June, reinforcing hopes that the recession is nearing an end, even as a companion index showed actual economic activity continues to decline.

Freddie Mac Offers Incentives on Foreclosed Homes

By:: Peter King - MortgageLoan.com | July 20, 2009

For homebuyers, there are a lot of good deals on foreclosed properties right now, especially with mortgage rates being as low as they are. And Freddie Mac has just sweetened the deal.

New Housing Starts Up in June

By:: Kara Johnson - MortgageLoan.com | July 17, 2009

New home construction rose in June, driven by a strong surge in construction starts on single-family homes, which were up nearly 15 percent from May's level, according to new figures released by the Census Bureau.

Will A Loan Modification Affect Your Credit?

By:: Peter King - MortgageLoan.com | July 17, 2009

One concern that many people have about getting a mortgage loan modification is how it will affect their credit rating. They may be in a position where a loan modification would help them, but they hesitate to pursue one for fear of harming their credit.

Foreclosures Up 11 Percent in Second Quarter

By:: Kara Johnson - MortgageLoan.com | July 16, 2009

Foreclosures filings rose nearly 11 percent in the second quarter of the year, as a number of lenders lifted voluntary moratoriums that had been in place during the first few months of the year and job losses continued to take their toll on the housing market.

Short Sales Can Be an Attractive Alternative to Foreclosure

By:: Kara Johnson - MortgageLoan.com | July 16, 2009

So you've come to the conclusion that you can't afford your mortgage and you've had no luck trying to work out a refinance or a loan modification. Is there anything you can do other than sit around and await the inevitable? Actually, there is - a short sale.

Some states offer financial aid to avert foreclosure

By:: Peter King - MortgageLoan.com | July 15, 2009

When it comes to government foreclosure avoidance programs, much of the focus has been on federal efforts such as Making Home Affordable. But many states offer their own programs as well, some of which even offer direct financial assistance for qualified homeowners.

Mortgage Refinances Pick Up as Rates Drop

By:: Kirk Haverkamp - MortgageLoan.com | July 15, 2009

Mortgage refinancing activity jumped sharply last week as 30-year interest rates dropped back down toward the magic 5 percent mark.

Home Prices Rise for Second Straight Month

By:: Peter King - MortgageLoan.com | July 14, 2009

Home prices rose for the second month in a row in May, with increases posted in all four major regions of the United States, according to the monthly IAS360 Home Price Index.

Quickly Raising Money for a Down Payment

By:: Peter King - MortgageLoan.com | July 13, 2009

Raising the money to cover a down payment and closing costs can be a major challenge for potential homebuyers. In fact, four out of five Americans regard it as the number one obstacle to buying a house, according to a recent survey by the National Association of Realtors.

FHA, VA Account for One in Three New Mortgages

By:: Kara Johnson - MortgageLoan.com | July 13, 2009

Government-insured mortgages, those backed by the FHA or VA, are at their highest rate in almost two decades, accounting for more than one mortgage application in three.

Lenders Urged to Step Up Loan Modification Efforts

By:: Peter King - MortgageLoan.com | July 10, 2009

Expressing dissatisfaction with the progress to date under the government's Making Home Affordable Program the Obama Administration is urging the nation's lenders to do more to help financially troubled homeowners obtain mortgage loan modifications.

Foreclosure Avoidance Workshops Offer Quick Help for Mortgage Woes

By:: Kara Johnson - MortgageLoan.com | July 10, 2009

Wouldn't it be great to solve all your mortgage problems in just a day? There are a lot of horror stories out there about homeowners getting an endless runaround in trying to obtain a loan modification under the government's Making Home Affordable plan, spending weeks trying to get their application approved while their financial situation steadily worsens. But there is a way to get quick help - but you have to be alert for the opportunity.

GAO Highlights Problems with Reverse Mortgage Marketing

By:: Kirk Haverkamp - MortgageLoan.com | July 09, 2009

Reverse mortgages are an increasingly popular way for senior citizens to tap into the equity in their homes in order to pay bills or improve their standard of living. However, they also have a number of shortcomings and potential risks that may be hidden through misleading marketing.

Small Increase Reported in Quarterly Home Prices

By:: Kara Johnson - MortgageLoan.com | July 09, 2009

Quarterly home prices have risen nationwide for the first time since 2006, according to at least one new study, with prices edging up 1.7 percent over the previous quarter.

FBI Identifies Newly Emerging Mortgage Frauds

By:: Peter King - MortgageLoan.com | July 08, 2009

Mortgage fraud is rising along with the slumping economy and real estate market. And the scam artists are coming up with new schemes to con homeowners, borrowers and lenders out of their money and property.

Mortgage Rates Steady, Applications Rise

By:: Kirk Haverkamp - MortgageLoan.com | July 08, 2009

Mortgage activity increased last week, with applications for both refinances and new home purchases rising after interest rates backed down from recent highs.

Home Prices Predicted to Keep Dropping

By:: Kara Johnson - MortgageLoan.com | July 07, 2009

Despite recent suggestions that the housing market is stabilizing, home prices will likely continue to decline another two years, according to a leading assessment of real estate market trends.

Credit Delinquencies Hit Record Levels

By:: Kirk Haverkamp - MortgageLoan.com | July 07, 2009

Delinquencies on credit cards, home equity loans, personal loans and other forms of consumer credit all rose in the first quarter of 2009, as more Americans struggled to pay their bills in the face of mounting job losses and a worsening economy.

Michigan Restores Federal Mortgage Credit Program

By:: Kirk Haverkamp - MortgageLoan.com | July 06, 2009

First-time home buyers in Michigan are getting an added incentive to buy a home, as the state is rejoining an old and often overlooked federal tax credit program.

25-Year Mortgage Refinancing Option Offered

By:: Peter King - MortgageLoan.com | July 06, 2009

You don't often hear about 25-year mortgages, but it's one of the newest options the Obama Administration is adding to the mix under its Making Home Affordable Program.

Improving Your Credit Score

By:: Peter King - MortgageLoan.com | July 03, 2009

So how do you go about improving your credit score? Good credit is the key factor in getting the best interest rates when buying a home or refinancing a mortgage. In today's tight credit markets, it even can determine whether you qualify for a loan at all.

Foreclosures Hit One Mortgage in Forty

By:: Kirk Haverkamp - MortgageLoan.com | July 02, 2009

Foreclosures rose sharply during the first quarter of the year, increasing by more than 20 percent to account for one in 40 outstanding U.S. mortgages, according to government figures released this week.

Foreclosures Hit One Mortgage in Forty

By:: Kirk Haverkamp - MortgageLoan.com | July 02, 2009

Mortgage Applications Drop Sharply

By:: Kara Johnson - MortgageLoan.com | July 01, 2009

Mortgage applications dropped sharply last week, declining almost 19 percent from the week before despite a third consecutive week of falling interest rates, the Mortgage Bankers Association (MBA) has reported.

MHA Refinace Limit Raised to 125 Percent

By:: Peter King - MortgageLoan.com | July 01, 2009

Many homeowners who are underwater on their mortgages now have a new option for reducing their monthly payments - refinancing under the government's Making Home Affordable Program.

Series of Workshops to Promote Loan Modifications

By:: Peter King - MortgageLoan.com | June 30, 2009

Need help reducing your mortgage payments? Been trying to get approved for a Making Home Affordable loan modification or refinance without success? Help could be coming to a town near you.

Decline in Home Prices Slows

By:: Kara Johnson - MortgageLoan.com | June 30, 2009

The decline in home prices slowed for the third straight month in April, according to a leading market surveys, suggesting that while the housing market has not turned around, it may finally be firming up.

Is It Worth It to Refinance Your Mortgage?

By:: Peter King - MortgageLoan.com | June 29, 2009

Is it worth it to refinance your mortgage? With recent signs that interest rates may be headed back down again, many people may be wondering if refinancing would make sense for them. As always, the devil is in the details.

As Many as 1 in 4 Said to Willingly Default on Mortgage

By:: Kara Johnson - MortgageLoan.com | June 29, 2009

As many as one in four mortgage defaults are voluntary, with homeowners walking away from the property despite an ability to make mortgage payments, according to a new study by economists at Northwestern University and the University of Chicago.

Bond Yields Decline, Will Mortgage Rates Follow?

By:: Kirk Haverkamp - MortgageLoan.com | June 26, 2009

People who are still hoping to refinance their mortgage or are shopping for a home got some good news the past two days, thanks to an easing of concerns over some of the factors that have been pushing up mortgage rates.

Advantages and Disadvantages of a 15-Year Mortgage

By:: Kirk Haverkamp - MortgageLoan.com | June 26, 2009

So you missed out on last spring's ultra-low rates, those dizzying few weeks when 30-year fixed -rate mortgages could be had at interest rates below 5 percent, an all-time low. But you may have noticed that it's still possible to get one of those ultra-low rates - by locking into a 15-year mortgage instead.

Jackson: Financial Woes Eclipsed Music Later in Life

By:: Kara Johnson - MortgageLoan.com | June 26, 2009

Michael Jackson, who died unexpectedly Thursday at age 50, will always be known for his music. But in his later years, it was his financial problems that kept him in the news.

FHA, VA Mortage Holders Can Reduce Payments With Streamline Refinance

By:: Kara Johnson - MortgageLoan.com | June 25, 2009

With all the attention that's been focused on the Making Home Affordable program, it's easy to forget there are other options out there for reducing your mortgage payments. And if you have an FHA or VA mortgage, there's one that's simply fantastic - a streamline refinance.

New Home Sales Remain Stable

By:: Kara Johnson - MortgageLoan.com | June 25, 2009

Sales of newly built single-family homes have remained relatively stable the past four months, meeting a Commerce Department standard for the establishment of a trend.

Mortgage Applications Up as Rates Back Down

By:: Kara Johnson - MortgageLoan.com | June 24, 2009

U.S. mortgage applications increased last week, ending four consecutive weeks of declines, according to data released this morning by the Mortgage Bankers Association (MBA).

Credit Counselors See Progress on Making Home Affordable

By:: Kara Johnson - MortgageLoan.com | June 24, 2009

So you've been thinking about seeking a mortgage loan modification through the Making Home Affordable (MHA) program, but have been discouraged by reports of long delays, conflicting advice and nonresponsive lenders? Well, all that may be changing.

Refinace vs. Loan Modification: What's the Difference?

By:: Kirk Haverkamp - MortgageLoan.com | June 23, 2009

With the ongoing foreclosure crisis, there's been a lot of talk about loan modifications and refinancing mortgages as ways of helping at-risk borrowers stay in their homes. Together, they're the twin pillars of the Obama Administration's Making Home Affordable (MHA) program. But there's still a fair amount of confusion among consumers about the differences between the two and what they both involve.

Banks Rejecting Home Sales Due to Faulty Appraisals: NAR

By:: Peter King - MortgageLoan.com | June 23, 2009

Problems with faulty appraisals in a distressed housing market are causing increasing numbers of home sales to fall through at the last minute, the National Association of Realtors (NAR) is reporting.

Many Homeowners Fail to Seek Foreclosure Avoidance Help

By:: Peter King - MortgageLoan.com | June 22, 2009

There's been a lot of frustration among homeowners over delays in getting the administration's Making Home Affordable foreclosure prevention program up and running. But that's not the biggest issue preventing at-risk homeowners from getting mortgage assistance - many aren't even seeking help in the first place.

Making Home Affordable May Expand Refinance Limits

By:: Kara Johnson - MortgageLoan.com | June 22, 2009

The Obama Administration's Making Home Affordable Plan may soon increase its limits on refinancing "underwater" mortgages to allow more homeowners to take advantage of the program, according to the director of the Federal Housing Finance Agency (FHFA).

Mortgage Modifications Increasing Under Obama Plan

By:: Peter King - MortgageLoan.com | June 19, 2009

The Making Home Affordable Plan is picking up steam, according to HUD Secretary Shaun Donovan, extending trial mortgage loan modifications to 40,000 homeowners in the past week alone.

Reporting Mortgage Fraud

By:: Kara Johnson - MortgageLoan.com | June 19, 2009

If you think you may have been a victim of mortgage fraud, or simply think you got a raw deal in a real estate transaction, it helps to know where to complain.

Mortgage Rates Back Off From Recent Increases

By:: Kara Johnson - MortgageLoan.com | June 18, 2009

Mortgage rates backed off from their recent highs this past week, ending three weeks of sharp increases that had squelched strong demand for refinancing and dampened interest in home purchases.

What Fees Will You Pay to Refinance Your Mortgage?

By:: Kirk Haverkamp - MortgageLoan.com | June 17, 2009

So you've been thinking about refinancing your mortgage? It's not enough just to obtain a lower interest rate - whether you'll save money or not depends in large part on the fees you'll pay to refinance.

Obama Proposes Consumer Protections for Mortgages, Other Financial Products

By:: Kara Johnson - MortgageLoan.com | June 17, 2009

Endless lines of fine print, hidden charges and "exploding" interest rates on mortgages could be a thing of the past under a sweeping reform of the nation's financial regulations proposed Wednesday by the Obama Administration.

Helpful Hints for Buying a Foreclosure

By:: Catherine Brock - MortgageLoan.com | June 16, 2009

Foreclosure and short-sell deals can get you into a home on the cheap. Are you prepared for a potentially convoluted transaction?

New Housing Starts Up Sharply In May

By:: Kara Johnson - MortgageLoan.com | June 16, 2009

New housing construction starts were up sharply in May, spurred by low mortgage rates and a first-time homeowner tax credit widely credited for stirring interest in the slumping housing market.

Inside the New Mortgage Anti-Predatory Law

By:: Tom Kerr - MortgageLoan.com | June 15, 2009

Congress moved closer to approval of the Mortgage Reform and Anti-Predatory Lending Act, a new law to regulate the mortgage industry. The proposed mortgage reform legislation is intended to help better protect consumers from mortgage fraud and predatory lending practices.

Getting the Best Mortgage Rate

By:: Peter King - MortgageLoan.com | June 15, 2009

With 30-year mortgage rates moving upward from the recent historic lows, many people are wondering if they can still get a good deal on a mortgage. The answer is definitely yes - provided you keep a few things in mind.

California Law to Boost Loan Modifications Takes Effect

By:: Kirk Haverkamp - MortgageLoan.com | June 15, 2009

In an effort to pressure lenders into doing more mortgage loan modifications to help keep financially troubled borrowers in their homes, California is today implementing a 90-day moratorium on foreclosures.

Tax Amnesty: The State's the Thing

By:: Catherine Brock - MortgageLoan.com | June 14, 2009

State governments are hoping to fill their coffers by offering perks to taxpayers who voluntarily pay up past-due taxes.

Do You Qualify for a Fannie Mae Mortgage Refi Plus?

By:: Catherine Brock - MortgageLoan.com | June 12, 2009

Fannie Mae is tackling the Home Affordable refinancing program with RefiPlus and DU RefiPlus. One of these could be your ticket to a quick and affordable mortgage refinance-but only if you qualify.

Fed Seen As Unlikely to Take Strong Action to Lower Mortgage Rates

By:: Kirk Haverkamp - MortgageLoan.com | June 12, 2009

The Federal Reserve is unlikely to take strong actions to bring mortgage rates back down again when it meets later this month, the Wall Street Journal is reporting.

Getting a Government Loan Modification

By:: Kara Johnson - MortgageLoan.com | June 12, 2009

For homeowners who are having difficulty meeting their mortgage payments, a loan modification can help them avoid foreclosure and stay in their homes. Most lenders offer some sort of loan modification options, but a government-sponsored loan modification under the Making Home Affordable (MHA) Plan offers one key advantage borrowers should be aware of.

Loan Modifications Picking Up Under Making Home Affordable

By:: Peter King - MortgageLoan.com | June 11, 2009

More than 150,000 homeowners have been offered mortgage loan modifications through the government's Making Home Affordable Plan in the program's first three months, according to the U.S. Department of Treasury.

Can You Still Get a Good Rate to Refinance Your Mortgage?

By:: Kirk Haverkamp - MortgageLoan.com | June 11, 2009

Can you still get a good mortgage refinance rate? With mortgage rates climbing nearly a full percentage point over the past month, many people who had been hoping to refinance their mortgages to a lower rate are wondering if they've missed the bargain boat.

Buying a Second Home becomes more Challenging

By:: Tom Kerr - MortgageLoan.com | June 11, 2009

A few years ago, many Americans leveraged their rising home equity to purchase second home or vacation home properties. Right before the real estate bubble burst, for example, most of the residential sales involved a second home. But that holiday home era is now a relic of the past.

All Home Buyers Could Be Eligible for Expanded Tax Credit

By:: Kirk Haverkamp - MortgageLoan.com | June 10, 2009

With rising mortgage rates threatening to squelch a potential housing recovery before it even gets started, a coordinated effort by business interests and members of Congress is seeking greatly expand the new $8,000 tax credit homebuyer tax credit and make it available to more than just first-time homebuyers.

Mortgage Rates Up, Refinancing Down Again

By:: Peter King - MortgageLoan.com | June 10, 2009

Mortgage rates rose nearly a third of a percent last week, according to figures released today by the Mortgage Bankers Association (MBA), further dampening interest in mortgage refinancing, which had flourished in the weeks after rates hit record lows in March.

Are FHA Loans the Next Subprime Bubble?

By:: Tom Kerr - MortgageLoan.com | June 10, 2009

As the Federal Housing Administration (FHA) prepares to ask Congress for another $800 million in rescue funds, many industry experts predict that FHA loans will soon become the new version of bad credit subprime mortgages. That could trigger a new foreclosure avalanche.

Housing Prices Level Off in April

By:: Kara Johnson - MortgageLoan.com | June 09, 2009

U.S. housing prices leveled off in April, reversing 10 straight months of declines as low mortgage rates and a first-time homebuyer tax credit lured buyers back into the market.

States, Feds Step Up Efforts Against Loan Modification Scams

By:: Kara Johnson - MortgageLoan.com | June 09, 2009

The New York State Attorney General today announced plans to sue one of the state's largest loan modification assistance companies and subpoena records from 14 others as part of an investigation into an industry that many say takes unfair advantage of homeowners in financial distress.

Selling a Vacation Home

By:: Catherine Brock - MortgageLoan.com | June 09, 2009

The housing market is rough right now, but the market for vacation homes is even worse.

New Consumer Protections Urged for Reverse Mortgages

By:: Peter King - MortgageLoan.com | June 08, 2009

Stricter rules governing reverse mortgages are needed to guard against repeat of the kind of problems that led to the subprime mortgage crisis, the U.S. Comptroller of Currency has said.

Homeowners Get More Options for Government Refinance

By:: Peter King - MortgageLoan.com | June 08, 2009

Mega mortgage lender Freddie Mac is making several changes to provide homeowners with more flexibility in obtaining a government refinance of their mortgage under the Obama Administration's Making Home Affordable Program.

Buying a Home: A How-to Guide

By:: Catherine Brock - MortgageLoan.com | June 08, 2009

Becoming a first-time homebuyer and getting that first mortgage isn't hard when you know what to expect.

Don't Use Home Equity like an ATM

By:: Greg Mischio - MortgageLoan.com | June 07, 2009

Your home provides shelter and warmth. Your ATM machine provides easy access to cash. If anything should be learned from the recent housing market crisis, it's that the two must never be confused.

For Owners of Second Homes: Dealing with Your Mortgage

By:: Catherine Brock - MortgageLoan.com | June 06, 2009

Options are few and far between for second homeowners who can't afford the mortgage anymore. But you can always attempt the refinance second home process.

Homebuyer Protection: The Mortgage Reform and Anti-Predatory Lending Act

By:: Catherine Brock - MortgageLoan.com | June 05, 2009

Sparse oversight in the mortgage industry is likely to have played a role in the current mortgage crisis. Mortgage fraud and predatory lending are now a hot topic on Capitol Hill.

May Job Losses Less Than Expected

By:: Kirk Haverkamp - MortgageLoan.com | June 05, 2009

Job losses declined to 345,000 in May, well below what economists had predicted and the fewest since last September, the Labor Department reported today.

List Prices Reduced on One Home in Four

By:: Kirk Haverkamp - MortgageLoan.com | June 05, 2009

Nearly one in four homes currently for sale in the United States have undergone at least one price reduction as owners adjust their expectations to the realities of the current housing market.

Mortgage Rates Post Another Big Jump

By:: Kara Johnson - MortgageLoan.com | June 04, 2009

Mortgage rates took another big jump for the second week in a row, frustrating homeowners who had still hoped to lock in a refinance at ultra-low rates, but perhaps not enough to deter bargain-hunting home buyers seeking to take advantage of a depressed housing market.

Total Unemployment Claims Drop

By:: Kara Johnson - MortgageLoan.com | June 04, 2009

Weekly unemployment claims fell for the first time in five months, the latest "green shoot" to pop up this spring and raise hopes the economy may soon begin to recover.

Loan Modification Programs adds Second Mortgages

By:: Tom Kerr - MortgageLoan.com | June 04, 2009

A brand new loan modification initiative that's aimed specifically at home equity loan products has just been launched by the Obama administration. The program hopes to alleviate the burden of second mortgages, and offers financial incentives for lenders who successfully rework bad loans.

Refinancing Drops as Mortgage Interest Rates Jump

By:: Kara Johnson - MortgageLoan.com | June 03, 2009

Homeowners looking to refinance may have missed their best opportunity, as 30-year fixed-rate mortgages shot up nearly half a percent last week, according to figures from the Mortgage Bankers Association.

New Foreclosures Top 1 Million in 2009

By:: Peter King - MortgageLoan.com | June 03, 2009

More than one million homes have already been targeted for foreclosure in 2009, with the rate only expected to increase, according to data released this week by the Center for Responsible Lending (CRL).

Lower your Expenses: Refinance your Mortgage

By:: Catherine Brock - MortgageLoan.com | June 03, 2009

Taking advantage of historically low mortgages rates with a refinance mortgage could save you thousands on your mortgage loan.

Pending Home Sales Jump

By:: Peter King - MortgageLoan.com | June 02, 2009

Pending home sales rose sharply in April, the third consecutive month of increases, according to a monthly report released today by the National Association of Realtors (NAR).

Advice for Using Home Affordable Program

By:: Catherine Brock - MortgageLoan.com | June 02, 2009

"Home Affordable" refinancing can create some economic relief in your household by lowering your interest rate to today's historically low levels. Do you know how to navigate through the Home Affordable funding process?

FTC May Limit Fees for Loan Modification Services

By:: Kara Johnson - MortgageLoan.com | June 02, 2009

The Federal Trade Commission (FTC) is looking to clamp down on so-called "foreclosure rescue" scams by restricting or banning outright advance payments to loan modification services that offer to solve homeowner's mortgage problems for a fee.

New Consumer Law Could Make Credit Cards More Exspensive for Some

By:: Peter King - MortgageLoan.com | June 02, 2009

The new credit card rules that President Obama signed into law last month will provide a number of protections for consumers. But some analysts say that many consumers will actually end up paying more to use their credit cards or may find it more difficult to obtain credit to begin with.

Mortgage Rates Continue Up

By:: MortgageLoan.com - MortgageLoan.com | June 01, 2009

Mortgage rates continue to push upwards as appetite for US government debt softens.

Mortgage Refinance Surge causes Surge in Lending Jobs

By:: Catherine Brock - MortgageLoan.com | June 01, 2009

Job creation in the mortgage industry looks promising as a major industry association predicts growth in mortgage originations this year.

Residential Construction Inches Up: Commerce Dept.

By:: Kirk Haverkamp - MortgageLoan.com | June 01, 2009

U.S. residential construction spending rose slightly in April, reversing seven months of declines, according to data released today by the Commerce Department.

Reverse Mortgages May Cost You More

By:: Catherine Brock - MortgageLoan.com | May 31, 2009

If you've been thinking about getting a reverse mortgage or home equity conversion mortgage (HECM), you need to know what Fannie Mae's been up to.

Mortgages and Obama's First 100 Days

By:: Tom Kerr - MortgageLoan.com | May 30, 2009

President Obama's first 100 days in office are under review, and many question his effectiveness at dealing with the housing and mortgage crisis. But for the most part, the kind of impact that his economic stimulus initiatives might have on real estate and mortgage markets remains to be seen.

Understanding the First-time Homebuyer Tax Credit

By:: Catherine Brock - MortgageLoan.com | May 29, 2009

Considering a first home purchase this year? Your budget might be impacted by the first-time homebuyer tax credit.

FHA Allows $8,000 Credit to be Used for Purchase

By:: Peter King - MortgageLoan.com | May 29, 2009

First-time homebuyers will be able to immediately apply an $8,000 tax credit toward the purchase of a new home, the secretary of the U.S. Department of Housing and Urban Development (HUD) announced today.

Mortgage Rates Indicating a Morning Reversal Downward

By:: MortgageLoan.com - MortgageLoan.com | May 28, 2009

The MBS market is showing a sharp trend reversal this morning.

Mortgage Refinance Success: Improve Credit Score

By:: Greg Mischio - MortgageLoan.com | May 28, 2009

If there's anything to be learned from the financial crisis of the past year, it's that good credit is essential for good loans. If you have bad credit, improving your score is the best way to get a mortgage refinance.

Mortgage Rates Rise on Higher Bond Yields

By:: Kirk Haverkamp - MortgageLoan.com | May 28, 2009

Mortgage rates edged higher this week, as inflationary fears drove up the cost of borrowing despite the Federal Reserve's ongoing efforts to keep interest rates down.

Foreclosures Increase at Record Rate

By:: Kara Johnson - MortgageLoan.com | May 28, 2009

More than one U.S. mortgage in eight is either past due or in foreclosure, as the number of new foreclosures rose sharply in the first quarter of the year.

Banks Abandoning Foreclosures

By:: Tom Kerr - MortgageLoan.com | May 27, 2009

The homeowner strategy of walking away from foreclosure homes when home values plummet below the outstanding mortgage balance has now been given a new twist by lenders. Banks are refusing to take back foreclosure properties, leaving homeowners to assume responsibility for their upkeep.

Exsting Home Sales, Prices Move Upward

By:: Kirk Haverkamp - MortgageLoan.com | May 27, 2009

Existing home sales rose slightly in April, driven by bargain hunters taking advantages of foreclosures, short sales and near-record low interest rates.

Mortgage Rates Jump

By:: MortgageLoan.com - MortgageLoan.com | May 27, 2009

Mortgage rate jump upwards on consumer confidence numbers and economic recovery comments from President Obama.

FHFA Reports Slight Decrease in Home Prices

By:: Peter King - MortgageLoan.com | May 27, 2009

U.S. housing prices fell by half a percent in the first quarter of 2009, the smallest decrease since the housing downturn began, according to a figures released Wednesday by the Federal Housing Finance Agency (FHFA).

Finding Help if You Owe More Than Your Home is Worth

By:: Catherine Brock - MortgageLoan.com | May 26, 2009

If you're one of the millions of American homeowners who are upside down on his home mortgage, help is on the way.

Report Questions Effectiveness of Loan Modifications

By:: Peter King - MortgageLoan.com | May 26, 2009

A new study is raising doubts about the effectiveness of mortgage loan modifications as a means of providing relief to financially stressed homeowners.

No Bottom to Housing Market Yet: Standard and Poor's

By:: Kara Johnson - MortgageLoan.com | May 26, 2009

Housing prices continued to decline in March, suggesting that the housing market has yet to bottom out, according to a Standard & Poor's survey released today.

Are You Eligible for Government Loan Modification?

By:: Catherine Brock - MortgageLoan.com | May 25, 2009

The Making Home Affordable loan modification program is now up and running. Learn how to find out if you're eligible.

Dangers of Walking Away from your Mortgage

By:: Tom Kerr - MortgageLoan.com | May 24, 2009

Millions of Americans are facing foreclosure but are unable to refinance mortgages because of lost home equity. Before you walk away from repaying your mortgage, consider the serious consequences, and first attempt some kind of loan modification.

Seniors Use Reverse Mortgage for Purchasing Homes

By:: Tom Kerr - MortgageLoan.com | May 23, 2009

The new Home Equity Conversion Mortgage (HECM) lets seniors use a reverse mortgage to pay for the purchase of a home or condo. Many are taking advantage of this to get a purchase mortgage and then downsize into affordable homes.

New York AG Investigating Debt Relief Companies

By:: Peter King - MortgageLoan.com | May 22, 2009

The New York State Attorney General has announced an investigation into the debt settlement industry, issuing subpoenas to 14 debt settlement companies and one law firm with nationwide operations.

Steer Clear of Mortgage Rescue Scams

By:: Catherine Brock - MortgageLoan.com | May 22, 2009

A bad mortgage situation can quickly get worse if you become a victim of mortgage fraud.

Economic Indicators Post Big Gain in April

By:: Kirk Haverkamp - MortgageLoan.com | May 21, 2009

The Conference Board's Index of Leading Economic Indicators posted its first increase in seven months in April and its biggest gain since November 2005, in one of the most hopeful signs to date that the economy may finally be bottoming out.

Preparing for a Mortgage Refinance

By:: Greg Mischio - MortgageLoan.com | May 21, 2009

With today's stellar mortgage rates, many people are lining up for a mortgage refinance. Before you fill out that mortgage application, however, there are a few items to consider as you prepare to refinance your home loan.

Obama Approves Enhancements to Mortgage Refinance Program

By:: Peter King - MortgageLoan.com | May 21, 2009

Legislation to make the floundering Hope for Homeowners mortgage bailout program more attractive to lenders was signed into law Wednesday by President Obama, along with another measure designed to crack down on mortgage fraud.

Getting the Lowest Rate on your Mortgage Loan

By:: Catherine Brock - MortgageLoan.com | May 20, 2009

Low mortgage rates are out there, but securing one is problematic.

New Consumer Protection Agency Floated for Mortgages, Other Financials

By:: Kara Johnson - MortgageLoan.com | May 20, 2009

The Obama administration appears to be floating a trial balloon to test the viability of a proposal that would concentrate authority over consumer financial products such as mortgages and credit cards within a single agency.

Mortgage Rates Head Back Down

By:: Peter King - MortgageLoan.com | May 20, 2009

Credit remains cheap but hard to get, as mortgage rates declined again last week, approaching the record lows they have posted over the past two months.

Paying Off your Mortgage-Is it Worthwhile?

By:: Catherine Brock - MortgageLoan.com | May 19, 2009

Deciding whether to pay off your mortgage or pad your investment account isn't as simple as running a few calculations.

Senate Approves Consumer Credit Card Protections

By:: Kara Johnson - MortgageLoan.com | May 19, 2009

The U.S. Senate voted today to enact new restrictions on credit cards that would curb some common practices that have drawn the ire of consumers.

Builder Confidence Rises as New Home Starts Fall

By:: Kara Johnson - MortgageLoan.com | May 19, 2009

New housing starts in April fell to their lowest level in 50 years, even as home builders are starting to say that things are starting to look up.

Texas May Lengthen Nation's Shortest Foreclosure Process

By:: Kara Johnson - MortgageLoan.com | May 18, 2009

Financially stressed Texas homeowners could soon get a little more breathing room from the state's "fastest foreclosure in the West" foreclosure law under legislation that recently passed the state senate.

Understanding Private Mortgage Insurance

By:: Catherine Brock - MortgageLoan.com | May 18, 2009

Private mortgage insurance is back in vogue. Do you know how it's going to affect your home purchase or refinance?  

Mortgage Rate Edge Higher

By:: MortgageLoan.com - MortgageLoan.com | May 18, 2009

Mortgage rates continue last week's trend of ending higher.

Important Steps for First-time Homebuyers

By:: Greg Mischio - MortgageLoan.com | May 17, 2009

It's a great time to be a first-time homebuyer. Interest rates are low, inventory is booming, and there are government incentives to help you buy. If "purchase home" is at the top of your priority list, this is the time to do it.

Mortgage Fraud Prevention a Top Government Priority

By:: Tom Kerr - MortgageLoan.com | May 16, 2009

Desperate homeowners who are trying to avoid foreclosure are attractive targets for mortgage fraud schemes, which have proliferated in recent months. But law enforcement agencies are taking aggressive steps toward fraud prevention as the government ramps up consumer protection.

Put More Money in your Pocket by Adjusting Tax Withholding

By:: Catherine Brock - MortgageLoan.com | May 15, 2009

There's a tax strategy that the IRS doesn't want you to know about, and all you have to do to benefit from it is fill out a simple form.

Pace of Mortgage Refinancing Slows

By:: Peter King - MortgageLoan.com | May 15, 2009

The intense demand for home mortgage refinancing, which has soared over the past six months as mortgage rates have fallen, may finally be slackening.

Homeowners Think Housing Market Has Bottomed: Survey

By:: Peter King - MortgageLoan.com | May 15, 2009

U.S. homeowners are increasingly coming to terms with declines in property values, but many remain unrealistically optimistic about the value of the own property, especially in regard to future trends, according to a new survey of consumer confidence.

New Incentives for Mortgage Modification Program Announced

By:: Kara Johnson - MortgageLoan.com | May 14, 2009

The Obama Administration is expanding its homeowner assistance program to provide new incentives for lenders to modify at-risk mortgages and to promote remedies short of foreclosure in cases where a homeowner cannot retain the property.

FHA Seeks to Allow Tax Credit for Mortgage Down Payment

By:: Kara Johnson - MortgageLoan.com | May 14, 2009

First-time homebuyers may soon be able to apply an $8,000 tax credit to their mortgage down payment, under a plan being advanced by the Federal Housing Administration (FHA).

First-time Homebuyers Reaping Rewards from Economic Crisis

By:: Tom Kerr - MortgageLoan.com | May 14, 2009

As rampant inflation gradually gets squeezed out of home prices, many first-time homebuyers are finally able to afford a house. Lower rates on purchase mortgages-including popular FHA mortgage products-also make it easier for new homebuyers to take the ownership plunge.

Foreclosures Set New Record - Barely

By:: Kirk Haverkamp - MortgageLoan.com | May 13, 2009

U.S. foreclosure rates increased slightly in April, easing what had a series of steady increases over the past year, but still enough to set a new all-time high.

Fannie, Freddie Foreclosure Sales Up Sharply

By:: Kara Johnson - MortgageLoan.com | May 13, 2009

Both foreclosures and foreclosure prevention efforts by government-sponsored lenders jumped in February, as Fannie Mae, Freddie Mac and their kin lifted a two-month moratorium that had kept a lid on things.

New California Homebuyers offered Layoff Protection

By:: Catherine Brock - MortgageLoan.com | May 13, 2009

This program agrees to pay up to $1,500 per month to eligible, insured homeowners if they become involuntarily unemployed or accidentally disabled. The monthly benefit is available for up to six months. CAR, which is paying the first year's insurance premium, has said the program could help as many as 3,000 families purchase a California home this year.

Citibank to Put Up $1 Billion for Mortgage Refinancings

By:: Peter King - MortgageLoan.com | May 12, 2009

Citibank will make available an additional $1 billion in loans to refinance mortgages for qualified homeowners, using capital it obtained through the Troubled Asset Relief Program (TARP), the bank has announced.

Foreclosures, Short Sales Send Housing Prices Down

By:: Peter King - MortgageLoan.com | May 12, 2009

Foreclosures and short sales made up nearly half of all existing single-family home sales in the first three months of 2009, as housing prices recorded their biggest annual decline on record.

Getting the Point of Mortgage Points

By:: Catherine Brock - MortgageLoan.com | May 12, 2009

Mortgage points can save you money, but today's mortgage rates are so low that you may not need the help.

Real Estate Investing: Taking Advantage of Opportunities

By:: Catherine Brock - MortgageLoan.com | May 11, 2009

Forward-thinking real estate investors are looking ahead to opportunities that should come with a broader real estate recovery.

Small Businesses Increasingly Rely on Credit Cards

By:: Kara Johnson - MortgageLoan.com | May 11, 2009

In a worsening economy, small businesses are growing increasingly reliant on the use of credit cards to cover expenses, despite increasingly unfavorable terms on those cards, according to a new report from the National Small Business Association (NSBA).

Recession May Have Ended in April: Economists

By:: Kirk Haverkamp - MortgageLoan.com | May 11, 2009

In the wake of a number of encouraging economic trends in recent weeks, some economists are beginning to suggest that the worst recession in 80 years may already have ended.

FHA Mortgages: Trouble Ahead for HUD? 

By:: Catherine Brock - MortgageLoan.com | May 10, 2009

The FHA may be heading for a few rough patches, as it attempts to adjust to a more prominent position in the U.S. mortgage industry.  

Extra, Extra! Freddie Mac Declares Mortgage Rate Bottom

By:: Tom Kerr - MortgageLoan.com | May 09, 2009

Every cloud has a silver lining. The real estate and mortgage crisis continue to rain down on us, and the overall economy is still presenting unprecedented challenges. The silver lining, however, is that Freddie Mac says mortgage rates have finally hit bottom. As a result, homeowners are seizing the opportunity to refinance in record numbers.

Mortgage Rates Volatile

By:: MortgageLoan.com - MortgageLoan.com | May 08, 2009

Look for mortgage rates to return to a state of volatility after yesterday's upward spike.

First Time Homebuyers Back in Action

By:: Greg Mischio - MortgageLoan.com | May 08, 2009

A welcome new trend is underway, the likes of which hasn't been seen by the beleaguered real estate industry in years. New incentives and extremely low mortgage rates are inciting the typical first time homebuyer to start shopping once again.

Job Losses Slow as Obama Urges Job Training for Unemployed

By:: Kara Johnson - MortgageLoan.com | May 08, 2009

Job losses slowed in April, even as overall unemployment reached its highest level in over 25 years, according to figures released by the Labor Department on Friday.

FHA to Seek $800M to Cover Reverse Mortgage Losses

By:: Kirk Haverkamp - MortgageLoan.com | May 08, 2009

The Federal Housing Administration (FHA) says that its finances are solid, but still expects to ask the federal government for $800 million to cover losses in a reverse mortgage program for senior citizens.

Investors Voice Support for Mortgage Writedowns

By:: Peter King - MortgageLoan.com | May 07, 2009

A group of mortgage investors is expressing their support for measures that would enable homeowners to reduce the principal on at-risk mortgages and is calling on the banking industry to join them.

Mortgage Rates Jump Upwards

By:: MortgageLoan.com - MortgageLoan.com | May 07, 2009

Weak demand during today's treasury auction sends fear into the bond market, send mortgage rates upwards.

Realtors Call for New Consumer Mortgage Protections

By:: Kirk Haverkamp - MortgageLoan.com | May 07, 2009

With foreclosure rescue scams and other predatory lending practices on the rise, the National Association of Realtors (NAR) is calling on Congress to enact new protections for consumers.

Saving the Banks through Mortgage Refinancing

By:: Catherine Brock - MortgageLoan.com | May 07, 2009

Mortgage rates are dropping as the Federal Reserve buys up mortgage-backed securities and U.S. Treasury debt. Banks with mortgage units are poised to reap the rewards.

Senate Approves Changes to Mortgage Relief Program

By:: Kirk Haverkamp - MortgageLoan.com | May 06, 2009

Legislation passed by the U.S. Senate on Wednesday may give new life to a program for financially stressed homeowners that has largely been a dud since it was introduced last year.

Mortgage Originations Ready to Explode

By:: Tom Kerr - MortgageLoan.com | May 06, 2009

Mortgage originations may soon hit a whopping $3.1 trillion, mostly because of a huge surge in mortgage refinances that are expected to continue to boom. With mortgage rates at all-time lows, millions of savvy American homeowners are taking full advantage of them.

Report: One in Five Homeowners Now Underwater

By:: Kara Johnson - MortgageLoan.com | May 06, 2009

More than one in five U.S. homeowners now "underwater" on their mortgages, owing more than the home is worth, according to a new report documenting the continued slide in U.S. home values.

Mortgage Rates Trend Up

By:: MortgageLoan.com - MortgageLoan.com | May 06, 2009

Mortgage rates get upward pressure as economic indicators are pushing up confidence.

Construction Spending Rose In March

By:: Peter King - MortgageLoan.com | May 05, 2009

Construction spending rose slightly in March, reversing five straight months of declines, according to figures released Monday by the Commerce Department.

Mortgage Rates Flat

By:: MortgageLoan.com - MortgageLoan.com | May 05, 2009

Mortgage rates began the day with signals of lowering.

Fed Extends TALF to Cover Commercial Mortgages

By:: Kirk Haverkamp - MortgageLoan.com | May 05, 2009

The Federal Reserve Board, which has been moving aggressively to breathe life into the residential real estate market, has announced new measures to boost commercial real estate as well.

Which Mortgage Refinance Option is Right for You?

By:: Catherine Brock - MortgageLoan.com | May 05, 2009

It's no easy task deciding what to do when your ARM is approaching a mortgage rate reset.

Pending Home Sales Up in March

By:: Peter King - MortgageLoan.com | May 04, 2009

Pending home sales rose in March, as first-time buyers took advantage of low prices and mortgage interest rates, plus an $8,000 tax credit, to make the move into home ownership.

Mortgage Rates Steady

By:: MortgageLoan.com - MortgageLoan.com | May 04, 2009

Following aggressive moves upward last Thursday and Friday, today's mortgage rates seem to be holding steady.

Which Mortgage for You? FHA Loan or Conventional Mortgage?

By:: Tom Kerr - MortgageLoan.com | May 04, 2009

FHA loan products have become increasingly popular within the past year or two, both for mortgage refinance purposes and as first loans to buy homes. But conventional mortgages also have their appeal, especially when it comes to finding the cheapest possible interest rate.

How to Qualify for Government Mortgage Assistance

By:: Tom Kerr - MortgageLoan.com | May 03, 2009

One of the most important initiatives to help people through the foreclosure crisis is the new "Making Home Affordable" loan modification program. Under the plan, millions of borrowers are entitled to a loan modification, as long as they qualify for this special government assistance.

Mortgage Protection for the Unemployed

By:: Catherine Brock - MortgageLoan.com | May 02, 2009

One developer is addressing the unemployment concerns of tentative condo buyers with mortgage payment protection coverage.

House Passes Limits on Credit Card Companies

By:: Kara Johnson - MortgageLoan.com | May 01, 2009

Legislation that would limit the ability of credit cards companies to raise interest rates and restrict other practices that have drawn the ire of consumers easily passed the U.S. House of Representatives on Thursday.

Is Seller Financing a Good Strategy for You?

By:: Catherine Brock - MortgageLoan.com | May 01, 2009

Seller financing is becoming more prevalent as home sellers bend over backwards to lure in purchasers. Homebuyers may be surprised to learn, however, that seller financing isn't always the perfect arrangement.

134,000 Mortgages Modified in March

By:: Peter King - MortgageLoan.com | May 01, 2009

U.S. mortgage lenders modified nearly 134,000 mortgages for at-risk homeowners in March for the second month in a row, with foreclosure sales dropped sharply, the private sector HOPE NOW alliance has reported.

Home Remodeling Booming Despite Troubled Economy

By:: Greg Mischio - MortgageLoan.com | April 30, 2009

It appears that reports of the housing industry's death have been greatly exaggerated. Some sectors of the industry, such as home sales, continue to slump, but the home remodeling business is booming.

Senate Rejects 'Cramdown' Relief on Mortgages

By:: Kirk Haverkamp - MortgageLoan.com | April 30, 2009

The U.S. Senate has rejected legislation that would have allowed bankruptcy judges to reduce the principal owned on a homeowner's mortgage, a measure known as "cramdown."

New Unemployment Claims Decline

By:: Kara Johnson - MortgageLoan.com | April 30, 2009

New unemployment filings decreased last week, but the total number of persons collecting unemployment benefits hit an all-time high, according to figures released today by the Commerce Department.

Mortgage Rate Headed Up?

By:: MortgageLoan.com - MortgageLoan.com | April 30, 2009

Mortgage rates could see some upward pressure today.

Mortgage Rates Low, Fed Stays Course

By:: MortgageLoan.com - MortgageLoan.com | April 29, 2009

Mortgage rates remain at record lows as the Federal Reserve stays the course.

Bond Yields Up, Will Mortgage Rates Follow?

By:: Peter King - MortgageLoan.com | April 29, 2009

Mortgage rates may soon be nudging back up from the ultra-low levels they have been occupying for the past six weeks, after yields on 10-year bonds rose following today's announcements by the Federal Reserve.

Mortgage Applications Drop

By:: Kara Johnson - MortgageLoan.com | April 29, 2009

Mortgage applications dropped sharply in the week ending April 24, ending what had been a series of steady increases over the past two months.

Can You Get a Mortgage?

By:: Catherine Brock - MortgageLoan.com | April 29, 2009

Lenders will eyeball more than just your credit score to make a decision on your mortgage application.

Mortgage Rates Climb on Consumer Confidence

By:: MortgageLoan.com - MortgageLoan.com | April 28, 2009

Mortgage rates started the day heading lower on continued reporting of Swine Flu outbreaks. However, these trend lines quickly reversed.

New Mortgage Assistance Addressed Second Liens

By:: Kirk Haverkamp - MortgageLoan.com | April 28, 2009

A new initiative to help resolve issues with second liens that have presented problems for many homeowners seeking assistance with problem mortgages was announced today the Obama Administration.

Tougher Standards for Mortgage Refinance

By:: Tom Kerr - MortgageLoan.com | April 28, 2009

Doing a mortgage refinance these days is tough, because lenders-including those doing FHA mortgages--want to see a higher credit score and more proof of assets and income. But they also don't want to refinance until home equity loans or second mortgages have been repaid.

Home Ownership Continues Decline

By:: Peter King - MortgageLoan.com | April 27, 2009

U.S. home ownership dipped to its lowest level in nearly nine years in the first three months of the year while housing vacancies reached an all-time high, according to figures released Monday by the Commerce Department.

Bank of America Retires Countrywide Brand

By:: Peter King - MortgageLoan.com | April 27, 2009

The Countrywide brand, until recently the biggest name in mortgages, is being retired as Bank of America consolidates its home lending operations under a single roof.

Be Prepared for a Reverse Mortgage

By:: Greg Mischio - MortgageLoan.com | April 27, 2009

Retirement funds are dwindling. Health care costs are rising. Pension plans are being altered. With all of the economic woes befalling retirees, it's no wonder that the reverse mortgage has become an increasingly popular tool. Its guarantee of cash flow, with no payments required, makes it a very popular mortgage refinance option.

Mortgage Rates Leap Out Lower

By:: MortgageLoan.com - MortgageLoan.com | April 27, 2009

Mortgage rates leaps out of the gates trending lower.

Jumbo Mortgages making a Comeback

By:: Tom Kerr - MortgageLoan.com | April 26, 2009

Banks fled from jumbo mortgages last year as the mortgage crisis began to take its toll on their balance sheets and defaults on jumbos accelerated. Now, however, they're back in the jumbo market and lending to customers in need of these extra large home loans at reasonable rates.

FHA Tightens Standards for Cash-out Mortgage Refinance

By:: Catherine Brock - MortgageLoan.com | April 25, 2009

The FHA was supposed to lead the U.S. mortgage industry out of crisis, but rising defaults are prompting the agency to tighten up its lending standards.

Sales of New Homes Unchanged

By:: Peter King - MortgageLoan.com | April 24, 2009

Sales of new, single-family homes were essentially unchanged in March, while the supply of unsold new homes shrank by 5 percent, according to figures released today by the Commerce Department.

30-year Rates Beat ARMs for First-Time Ever

By:: Kirk Haverkamp - MortgageLoan.com | April 24, 2009

The dizzying descent down the rabbit hole of the current financial markets just got curiouser and curiouser. Long term, 30-year fixed mortgage rates dipped below the rate of short-term adjustable rate mortgages in the weekly Freddie Mac survey for the first time ever. That means, for the moment at least, a long-term loan may be cheaper in the short run than its adjustable rate cousin - which goes against the usual reason for getting an adjustable rate in the first place.

Mortgage Rates Trending Higher

By:: MortgageLoan.com - MortgageLoan.com | April 24, 2009

Mortgages rates started the day higher, but are beginning to recover.

New Government Website Helps Troubled Homeowners

By:: Catherine Brock - MortgageLoan.com | April 24, 2009

The Obama Administration is supporting its Making Home Affordable initiative with a website that offers guidance and advice to troubled homeowners.  

Obama Calls for Stricter Rules on Credit Cards

By:: Kirk Haverkamp - MortgageLoan.com | April 23, 2009

With Congress already moving to enact tighter restrictions on credit card companies, President Obama met with major lenders today to outline consumer protections that he wants to see.

Housing Sales Down, But Prices Up

By:: Kara Johnson - MortgageLoan.com | April 23, 2009

Sales of existing homes declined slightly in March but prices rose, suggesting that the housing market is still struggling to find its footing after months of decline.

Reverse Mortgages: Life Rafts or Life Anchors?

By:: Catherine Brock - MortgageLoan.com | April 23, 2009

Reverse mortgages are growing in popularity, but retirees need to know that there are pitfalls associated with using one as a financial planning strategy.

Mortgage Rates Flat

By:: MortgageLoan.com - MortgageLoan.com | April 23, 2009

Mortgage rates end the day flat. Mortgage bonds traded most of the day flat in anticipation of addition Federal Reserve MBS and treasury buying.

Bumpy Road for Mortgage Rates

By:: MortgageLoan.com - MortgageLoan.com | April 22, 2009

Mortgage bond rates opened the morning in a positive direction (mortgage rates lower).

Housing Prices Rise for Second Straight Month

By:: Peter King - MortgageLoan.com | April 22, 2009

Home prices rose slightly for the second straight month in February, raising hopes that the implosion of the real estate market may finally be bottoming out.

Can't Get a Mortgage? Think Small (Banks)

By:: Peter King - MortgageLoan.com | April 22, 2009

In the middle of a credit crunch, there's a mortgage boom going on. Overall lending is down, as banks have tightened their purse strings. But demand for mortgages is as strong as ever, driven by some of the lowest interest rates on record and housing prices driven into the ground by the foreclosure crises. But many potential borrowers have been unable to climb aboard the bargain bus, due to tightening credit restrictions by major lenders in the wake of the foreclosure crises.

Congress Ponders Tougher Rules for Credit Card Companies

By:: Catherine Brock - MortgageLoan.com | April 22, 2009

Credit card companies may soon have their hands tied, as Congress proposes legislation that limits how and when card issuers can raise rates and assess fees.

Affordable Housing Goal Cut to Prevent New Housing Bubble

By:: Catherine Brock - MortgageLoan.com | April 21, 2009

The agency that now runs Fannie Mae and Freddie Mac will reign in Fannie and Freddie's affordable housing goals. The announcement comes as a subtle admission that affordable housing legislation created instability and imprudence in the mortgage lending industry.

IMF Predicts Global Losses to Hit $4 Trillion by 2010

By:: Peter King - MortgageLoan.com | April 21, 2009

Total losses in the global economic meltdown could reach $4 trillion by 2010, according to a report released today by the International Monetary Fund (IMF).

Inspector General's Report Criticizes TARP Management

By:: Kirk Haverkamp - MortgageLoan.com | April 21, 2009

A report sharply critical of the Treasury Department's management of the government's Troubled Asset Relief Program (TARP) was released today by the program's legal overseer.

Mortgage Rates Hold

By:: MortgageLoan.com - MortgageLoan.com | April 21, 2009

Mortgage rates continue to hold on Secretary of Treasury statements that banks are regaining stability.

Housing Prices Now Considered Undervalued

By:: Peter King - MortgageLoan.com | April 20, 2009

Housing prices across the United States have fallen so far from their previous highs they are now considered slightly undervalued, with further declines yet to come.

Condo Owners may be Denied Mortgage Financing

By:: Catherine Brock - MortgageLoan.com | April 20, 2009

Fannie Mae and Freddie Mac now have stricter guidelines for mortgages made to condominium buyers. The changes could leave some would-be condo owners without affordable financing.

Mortgage Rates Look to Improve

By:: MortgageLoan.com - MortgageLoan.com | April 20, 2009

Following a multi-week trend, mortgage rates look on track to improve (lower mortgage rates) to open the week.

Obama to Take On Credit Card Companies

By:: Kara Johnson - MortgageLoan.com | April 20, 2009

Senior executives of the nation's leading credit card companies are scheduled to meet with White House economic advisor Larry Summers and other administration officials at the White House on Thursday. It may not be a pleasant meeting.

Mortgage Interest Tax Break at Risk for High-Income Households

By:: Catherine Brock - MortgageLoan.com | April 19, 2009

Changes are probably on the way for the mortgage interest tax deduction, as the Obama administration attempts to right the federal budget.  

FHA Mortgages Experiencing Instant Defaults

By:: Tom Kerr - MortgageLoan.com | April 18, 2009

Once ignored by buyers, FHA-backed mortgages have enjoyed a dramatic resurgence in popularity. They're considered safer, more affordable, and easier to manage than many other kinds of loans. Despite that reputation, mortgage default rates on newer FHA loans have tripled.  

Legislation Seeks to Limit Creative Mortgages

By:: Kara Johnson - MortgageLoan.com | April 17, 2009

The subprime loans, exotic mortgages and endlessly repackaged securities that gave rise to the housing bubble are a thing of the past. New legislation now making its way through Congress seeks to ensure that they stay that way.

Do You Qualify for an Obama Mortgage Refinance?

By:: Greg Mischio - MortgageLoan.com | April 17, 2009

The Obama Administration has taken dramatic action to help the U.S. out of its current economic slump. Their mortgage refinance plan, for example, is designed to help people capitalize on low interest rates. However, this loan modification program isn't available for everyone.

Lending by TARP Banks Remains Flat

By:: Kirk Haverkamp - MortgageLoan.com | April 17, 2009

Lending by the 20 largest banks to receive TARP funds remained flat through the first two months of the year, despite the program's stated goal of providing government funds to free up credit.

Mortgage Rates Steady

By:: MortgageLoan.com - MortgageLoan.com | April 17, 2009

Mortgage rates, after a slight re-pricing to higher rates, seem to be stable.

Non-profit Group Hits Road for Foreclosure Prevention

By:: Catherine Brock - MortgageLoan.com | April 16, 2009

Homeowners in need of mortgage relief have a new team working on their behalf. The Neighborhood Assistance Corporation of America (NACA) offers foreclosure prevention counseling and loan modification negotiations to homeowners, free of charge.  

First Funds Released for Mortgage Relief Program

By:: Peter King - MortgageLoan.com | April 16, 2009

Financially stressed homeowners should finally begin to get some relief, now that the Treasury Department has completed arrangements with the first major lenders to participate in the administrations mortgage modification program.

Mortgage Rates Climbing

By:: MortgageLoan.com - MortgageLoan.com | April 16, 2009

As expected mortgage rates begin to climb.

New Housing Starts Fall, Dimming Hopes for Recovery

By:: Kirk Haverkamp - MortgageLoan.com | April 16, 2009

Hopes for a revival in home construction were dampened Thursday, with reports that new housing starts fell sharply in March following an unexpected rally the month before.

Foreclosures Hit Record High in March

By:: Kirk Haverkamp - MortgageLoan.com | April 15, 2009

Foreclosures shot up to a new all-time high in March, as banks ended self-imposed moratoriums that had been put in place to allow distressed homeowners time to seek assistance.

Mortgages Up, But Other Lending Falls

By:: Peter King - MortgageLoan.com | April 15, 2009

Mortgage lending increased, but all other forms of credit declined in February among banks that were the major recipients of government funds under the Troubled Asset Relief Program (TARP), the U.S. Treasury reported Wednesday.

Mortgage Rates Flatten

By:: MortgageLoan.com - MortgageLoan.com | April 15, 2009

Mortgage-backed securities open with flat trading this morning. Yesterday's steep rally, which forced mortgage rates down seems to have stabilized.

Reverse Mortgages Help Seniors in a Challenging Economy

By:: Tom Kerr - MortgageLoan.com | April 15, 2009

While most exotic mortgage products marketed in the past 10 years resulted in loss and crisis, the much-maligned reverse mortgage has bucked the trend. Although it's a rather misunderstood instrument, the reverse mortgage has emerged as a savior for many seniors who are strapped for cash.

Housing Prices Continue to Fall

By:: Peter King - MortgageLoan.com | April 14, 2009

Median housing prices continued to drop rapidly in February, falling 3.0 percent, according to the monthly IAS360 House Price Index released today by Integrated Asset Services.

Mortgage Refinance Fees on the Rise

By:: Tom Kerr - MortgageLoan.com | April 14, 2009

Anyone who has applied for a mortgage refinance lately in order to capture lower mortgage rates can testify to the fact that mortgage fees have increased. That often defeats the whole purpose of doing a mortgage refinance in the first place, and is helping to prolong the real estate crisis.

Mortgage Rates Open Higher

By:: MortgageLoan.com - MortgageLoan.com | April 14, 2009

Mortgage rates opened the day with a negative (higher) bias.

Apartment Vacancies Rise Even as Foreclosures Soar

By:: Kara Johnson - MortgageLoan.com | April 14, 2009

With rising foreclosures driving more and more Americans out of home ownership, you'd think it would be a good time to be a landlord. After all, most people who lose their homes become renters.

Economists Predict Recession to End, Job Losses to Continue

By:: Kara Johnson - MortgageLoan.com | April 13, 2009

The good news is that most economists expect that the ongoing recession will end in the latter part of this year. The bad news is that many Americans are unlikely to notice.

Mortgage Rates-Little Change

By:: MortgageLoan.com - MortgageLoan.com | April 13, 2009

The mortgage securities markets opened slow today, with little significant change expected in mortgage rates.

As More Seek FHA Loans, Delinquencies Rise

By:: Peter King - MortgageLoan.com | April 13, 2009

As the economy soured and credit tightened over the past two years, the Federal Housing Administration (FHA) has become an increasingly popular option for mortgage-seekers with limited resources and weak credit. Now, some fear the FHA could be headed for a financial crisis of its own.

Are Mortgage Cramdowns the Answer?

By:: Tom Kerr - MortgageLoan.com | April 13, 2009

When mortgage lenders are forced to adjust the terms of a loan to settle a bankruptcy or help a borrower avoid foreclosure, for example, it's called a mortgage cramdown. While lenders sometimes call the cramdown a death sentence, it can be a godsend for a homeowner.

Good Time to Buy for First Time Homebuyers

By:: Catherine Brock - MortgageLoan.com | April 12, 2009

Federal programs and housing prices present a compelling argument for first time homebuyers to make their move, even before the market demonstrates signs of recovery.  

Credit Cards Block Mortgage Refinance

By:: Greg Mischio - MortgageLoan.com | April 11, 2009

A mortgage refinance has always been dependent on a good credit score. In the past, people with solid credit histories have had nothing to worry about. However, recent actions taken by the credit card industry are affecting even credit-worthy people who've always played by the rules, casting doubt on their ability to get a mortgage refinance.

Study: Short-Term Aid Best Approach to Avoid Foreclosure

By:: Peter King - MortgageLoan.com | April 10, 2009

Short-term assistance to ease the immediate effects of job loss and other financial crises may be a more effective way to help homeowners than loan modifications and other efforts to reduce long-term debt. That's the conclusion of a new study released by several Federal Reserve economists.

Obama Uses Bully Pulpit to Promote Mortgage Programs

By:: Peter King - MortgageLoan.com | April 10, 2009

President Barack Obama put on his salesman's hat Thursday, urging homeowners to take advantage of low interest rates and new government programs to refinance their mortgages to save money and help boost the economy.

Beware of Loan Modification Companies

By:: Catherine Brock - MortgageLoan.com | April 10, 2009

Most companies that promise to help homeowners renegotiate mortgages aren't selling anything but pipe dreams.

Reduce your Housing Costs: Appeal your Property Taxes

By:: Catherine Brock - MortgageLoan.com | April 09, 2009

If your property's value has gone down, you may have a case for appealing your property taxes-even if your municipality is trying to raise them.

Mortgage Rates Rise

By:: MortgageLoan.com - MortgageLoan.com | April 09, 2009

Mortgage rates moved up slightly for the week, but still remain under 5%.

Mortgages Help Boost Wells Fargo to Record Profits

By:: Kara Johnson - MortgageLoan.com | April 09, 2009

Wells Fargo reported Thursday that it expects to post a record earnings for the first quarter of 2009, driven by strong returns from its mortgage business and its acquisition last year of Wachovia Corp.

Mortgage Rates Post First Increase Since Fed Action

By:: Peter King - MortgageLoan.com | April 09, 2009

Mortgage rates rose slightly in the past week, the first increase after four weeks of declines that saw rates reach record lows.

Second Mortgage May Block Mortgage Refinance

By:: Catherine Brock - MortgageLoan.com | April 08, 2009

If you find a mortgage lender that will refinance your first mortgage, consider asking for a loan large enough to pay off your second mortgage, too.

Foreclosure Workshops Offer Aid to Homeowners

By:: Kara Johnson - MortgageLoan.com | April 08, 2009

Distressed homeowners seeking to avoid foreclosure may have more help available than they realize. Foreclosure workshops providing consumer assistance are frequently available in many states, particularly those with high rates of endangered homeowners. The workshops are typically free of charge and are offered by a variety of community-based organizations, many of them affiliated with the Department of Housing and Urban Development(HUD) -led HOPE NOW alliance.

Mortgage Rates Low and Slow

By:: MortgageLoan.com - MortgageLoan.com | April 08, 2009

Mortgage rates continue to hold a historic lows.

Commerce Dept: Inventories Shrink, Sales Rise

By:: Peter King - MortgageLoan.com | April 08, 2009

U.S. wholesale inventories fell by record rate in February, the Commerce Dept. announced Wednesday, suggesting that businesses are beginning to get a handle on the glut of unsold goods that is holding down production.

Stimulus Bill Increases Reverse Mortgage Limits

By:: Catherine Brock - MortgageLoan.com | April 07, 2009

The federal government has raised the HECM maximum, which may give seniors access to more cash.

Mortgage Rates Steady

By:: MortgageLoan.com - MortgageLoan.com | April 07, 2009

Mortgage rates are relatively flat.

Credit Crunch Threatens to Boost Mortgage Interest Rates

By:: Kara Johnson - MortgageLoan.com | April 07, 2009

The good news for consumers is that mortgage rates are at an all-time low. The bad news is, there may not be much money to lend.

More Consumers Missing Mortgage Payments

By:: Kara Johnson - MortgageLoan.com | April 07, 2009

Mortgage delinquencies continued to rise in February, despite a number of other encouraging signs for the U.S. housing market, an indication that the ongoing recession has yet to hit bottom.

Negative Home Equity Growing Rapidly

By:: Tom Kerr - MortgageLoan.com | April 06, 2009

If you owe more on your mortgage than your home is worth, you have negative home equity. That often leads to foreclosure and bankruptcy. The value of home equity is shriveling, leaving growing numbers of homeowners upside down in their mortgages.

Short Week for Mortgage Rates

By:: MortgageLoan.com - MortgageLoan.com | April 06, 2009

Expect little movement in mortgage rates this week.

Low Rates Spur Hiring by Mortgage Industry

By:: Kirk Haverkamp - MortgageLoan.com | April 06, 2009

Historically low interest rates are driving a hiring boom in the mortgage industry, as lenders strive to contend with sharply increased demand brought on by historically low interest rates and other incentives.

New Program to Crack Down on Mortgage Fraud

By:: Kirk Haverkamp - MortgageLoan.com | April 06, 2009

A new initiative to crack down on fraudulent loan modification and refinancing schemes and help homeowners protect themselves against mortgage relief scams has been announced by the Obama Administration.

Tips to Understand Obama's Loan Modification Plan

By:: Greg Mischio - MortgageLoan.com | April 05, 2009

The Obama Administration is acting aggressively to battle the slumping economy. One industry in which it has focused its attention is banking. Toxic assets touched off our current credit crunch, so the administration has rolled out a loan modification program to ease the rising foreclosure rate.

Government Tries to Drive Down Mortgage Rates

By:: Tom Kerr - MortgageLoan.com | April 04, 2009

Because investors are afraid to buy mortgage backed securities (MBS) or mortgage bonds, the Fed is using taxpayer money to buy large amounts of those financial instruments. By doing so, it hopes to lower the price of retail mortgage rates to help Americans buy or refinance homes. 

Many Re-default Following Mortgage Modification

By:: Kirk Haverkamp - MortgageLoan.com | April 03, 2009

For many financially troubled homeowners, mortgage modifications obtained in 2008 provided only temporary relief, as more than four out of 10 quickly found themselves falling back into trouble again

Mark-to-Market Eased, But to What Effect?

By:: Kirk Haverkamp - MortgageLoan.com | April 03, 2009

Under pressure from banks and some members of Congress, the U.S. Financial Accounting Standards Board has relaxed a controversial rule that some analysts say contributed to last fall's economic meltdown. The big question now is, will undoing it help set things right again?

Is Obama's Loan Modification Program too Complex?

By:: Catherine Brock - MortgageLoan.com | April 03, 2009

Net present value tests, sticky eligibility requirements, and potential legal challenges make for a complicated loan modification program.

Mortgage Rates Steady

By:: MortgageLoan.com - MortgageLoan.com | April 02, 2009

The mortgage securities market is off to a negative opening, potentially raising rates slightly.

Former Bank Executives Profit from Mortgage Mess

By:: Catherine Brock - MortgageLoan.com | April 02, 2009

Former Countrywide execs aren't done making money on the subprime crisis just yet; now they have a plan to profit by saving homeowners from foreclosures.

Obama SBA Credit Program Hits Obstacle

By:: Kara Johnson - MortgageLoan.com | April 02, 2009

The Obama Administration's new initiative to free up credit for small businesses with an infusion of $15 billion for loans has hit a snag after the major lenders targeted by the program said they would not participate.

GMAC to Earmark $5 Billion for Auto Loans

By:: Kirk Haverkamp - MortgageLoan.com | April 02, 2009

In an effort to free up credit and boost auto sales, GMAC has announced it will earmark $5 billion for consumer auto loans over the next 60 days, while temporarily easing finance charges to auto dealerships.

Pending Home Sales Up Slightly in February

By:: Kirk Haverkamp - MortgageLoan.com | April 02, 2009

Pending home sales rose unexpectedly in February, (NAR), a possible indication that the depressed housing market may finally be bottoming out.

Housing Prices Predicted to Bottom Out This Year

By:: Peter King - MortgageLoan.com | April 01, 2009

Housing prices still have a way to drop, but should bottom out by the end of the year, according to a new forecast from Moody's Analytics.

Bad Credit? Try an FHA Mortgage

By:: Catherine Brock - MortgageLoan.com | April 01, 2009

Poor credit borrowers don't have the subprime option anymore, but FHA loans are often a better fit anyway.

Mortgage Rates at Bottom?

By:: MortgageLoan.com - MortgageLoan.com | April 01, 2009

Mortgage rates seem ready to stabilize at current historic lows for an extended period of time.

Mortgage Rates Edge Higher

By:: MortgageLoan.com - MortgageLoan.com | March 31, 2009

Mortgage rates are likely to edge upward today. Following yesterday's negative market reaction to auto industry news and more financial sector weakness.

Save your Mortgage: Qualifying for Government Assistance

By:: Tom Kerr - MortgageLoan.com | March 31, 2009

New government-assistance programs are available for mortgage refinance or loan modification, but there are restrictions and caveats involved. If you have a troublesome loan, this is the time to research your options and find out if you qualify for government assistance.

Housing prices still dropping fast: Standard and Poor's

By:: Kirk Haverkamp - MortgageLoan.com | March 31, 2009

Home prices continued to fall at record annual rates in January, according to the Standard & Poor's monthly report on U.S. home prices in major metropolitan areas.

Senate Committee Approves Limits on Credit Card Companies

By:: Kara Johnson - MortgageLoan.com | March 31, 2009

Legislation to limit increases in credit card interest rates and provide other consumer protections has been narrowly approved by a Senate committee, over the objections of financial industry groups and to the applause of consumer organizations.

Vacation Home Sales Down 30 Percent Last Year

By:: Kara Johnson - MortgageLoan.com | March 30, 2009

Sales of vacation homes fell sharply in 2008, in both actual numbers and as a share of the total real estate market, according to a newly released survey from the National Association of Realtors (NAR).

Seniors Now Able to Tap Reverse Mortgage for Home Purchase

By:: Peter King - MortgageLoan.com | March 30, 2009

Wouldn't it be nice to buy a home without having to make mortgage payments? Senior citizens can now do just that, thanks to a new wrinkle in federal housing law that allows them to purchase a new home using a reverse mortgage. Qualified buyers who can put up a substantial portion down payment can finance the rest using a reverse mortgage, and live mortgage-free the rest of their lives.

Tips for Job Search in a Tight Market

By:: Greg Mischio - MortgageLoan.com | March 30, 2009

Because of the poor economy, people are desperate for employment, and they're frantically applying anywhere and everywhere in hopes of landing a job. Now is not the time for a spray-and-pray job search approach, however. It's a time to assess your skills, and match them with the right job for you.

Be Proactive about Credit Card Rate Hikes

By:: Catherine Brock - MortgageLoan.com | March 29, 2009

Credit card interest rates are on the upswing. You may not be safe from the increases, even if you always pay your bills on time.

Making the Economic Stimulus Package Work for You

By:: Catherine Brock - MortgageLoan.com | March 28, 2009

What do homebuyers, working families, and upper income households have in common right now? All stand to benefit from the tax initiatives that are written into the 2009 economic stimulus program.

Fed to Run Foreclosure Scam Trailer in Movie Theaters

By:: Kara Johnson - MortgageLoan.com | March 28, 2009

Foreclosure avoidance scams are on the rise. As more and more homeowners experience financial difficulties and fall behind on their mortgages, they become the targets of an army of con artists who seek to fleece them out of their money and even their actual homes in return for a promise of assistance

Mortgage Rescue Impossible for Many in Home Equity Trouble

By:: Tom Kerr - MortgageLoan.com | March 27, 2009

When home values rose, so did the popularity of the home equity mortgage. Many homeowners used these loans to tap into fast cash, as houses became the new ATM machines. Today, the same easy path to money is a major obstacle to refinancing away from painful mortgage loans.

Mortgage Rates Record Lows

By:: MortgageLoan.com - MortgageLoan.com | March 27, 2009

Mortgage rates continue to hold at record lows. Almost totally held by Fed actions in the market--buying mortgage-backed securities and long-term treasuries--there are fears of a rapid reversal in the trend.

Finding a Bargain in the Foreclosure Market

By:: Kara Johnson - MortgageLoan.com | March 27, 2009

With prices way down and mortgage rates at historic lows, the housing market offers some great deals right now. But the big bargain hunters are looking to push their savings even further, by putting in a bid on a foreclosed property.

Get your 2008 Taxes Right

By:: Catherine Brock - MortgageLoan.com | March 26, 2009

Figuring your income taxes may be more complicated this year. Do you know which tax changes will apply to your returns?

Mortgage Rates Hit Record Lows Following Fed Action

By:: Kirk Haverkamp - MortgageLoan.com | March 26, 2009

Mortgage rates hit their lowest point in half a century this week, following last week's announcement by the Federal Reserve that it would buy up more than a $1 trillion in Treasury debt and mortgage-backed securities to help free up credit.

Mortgage Bankers Call for New Regulations to Police Industry, Protect Borrowers

By:: Kirk Haverkamp - MortgageLoan.com | March 26, 2009

The Mortgage Bankers Association (MBA) is calling on Congress to adopt new legislation to establish uniform regulation of the industry nationwide and establish a new framework to protect borrowers.

Credit Unions Swim Against the Tide, Increase Mortgage Lending

By:: Kara Johnson - MortgageLoan.com | March 25, 2009

At a time when most mortgage lenders are tightening up credit and cutting back on loans, at least one part of the industry is showing remarkable growth - credit unions.

Job Market Woes? Go Back to School!

By:: Catherine Brock - MortgageLoan.com | March 25, 2009

With the job market in the pits, and the economy in recession, now may be the best time to invest in your education.

Commerce Department Says New Home Sales Rose in February

By:: Peter King - MortgageLoan.com | March 25, 2009

Sales of new, single-family homes rose unexpectedly in February, according to figures released Wednesday morning by the Commerce Department. Coming on the heels of a reported similar increase in sales of existing homes, it's the latest in a number of recent indicators that the ongoing recession may be starting to loosen its grip.

MBA Boosts Mortgage Originations Forecast By Over $800 Billion

By:: Peter King - MortgageLoan.com | March 24, 2009

The Mortgage Bankers Association (MBA) has sharply increased its prediction of the volume of mortgages that will originate this year, increasing its 2009 forecast by 800 billion, a 67 percent increase over previous estimates.

Mortgage Refinance Strategies during Mortgage Crisis

By:: Catherine Brock - MortgageLoan.com | March 24, 2009

If you'd like to take advantage of the low mortgage refinance rates available as a result of the mortgage crisis, there are some hoops that you're going to need to jump through to save a little money.

New FDIC-Type Authority Urged for Closing Troubled Financial Institutions

By:: Kirk Haverkamp - MortgageLoan.com | March 24, 2009

Taking a page from the 1930s, the Obama administration is calling for a new authority, modeled after the FDIC, to allow the government to restructure failed large financial institutions in much the same way the FDIC is able to restructure failed banks.

Banks Cutting Home Equity Lines: Is it Legal?

By:: Catherine Brock - MortgageLoan.com | March 23, 2009

One bank's decision to slash home equity lines of credit has spurred a class action lawsuit. Is the argument legally valid?

Surprise! Sales of Existing Homes Rose in February

By:: Kara Johnson - MortgageLoan.com | March 23, 2009

Sales of existing homes rose unexpectedly in February, providing a bit of good economic news and raising hopes that the slumping housing market may finally be bottoming out.

Markets Up on Treasury Plan to Purchase Mortgage Assets, but Pessimism Remains

By:: Kirk Haverkamp - MortgageLoan.com | March 23, 2009

Stocks rose sharply at Monday's opening, following Treasury Secretary Paul Geithner's announcement of a plan to generate up to $1 trillion in public and private funds to buy up distressed bank assets and related securities to get the economy moving again.

Loan Modification: Identifying what Works

By:: Tom Kerr - MortgageLoan.com | March 22, 2009

Regulators are crunching better data to identify what works and what fails when it comes to loan modification performance. They hope that by troubleshooting existing mortgage modification strategies, they can create one that finally does the trick to help rescue distressed homeowners.  

Banks Agree to Foreclosure Moratoriums

By:: Tom Kerr - MortgageLoan.com | March 21, 2009

President Obama unveiled his own agenda regarding foreclosure prevention through government assistance and more aggressive loan modification programs. Meanwhile, major banks also agreed to be more proactive with foreclosure moratoriums to rescue American homeowners. 

Mortgage Rate Holding

By:: MortgageLoan.com - MortgageLoan.com | March 20, 2009

Mortgage rates are expected to hold their current levels for the foreseeable future.

Time to Break the 401K Piggy Bank for Your Mortgage?

By:: Peter King - MortgageLoan.com | March 20, 2009

In the current economic downturn, financially stressed homeowners are becoming increasing desperate to do what they can to avoid foreclosure. At the same time, others whose finances are secure may be looking at falling home prices and historically low interest rates and thinking that now would be a good time to buy their first home, if they could only put up enough for the down payment.

Why Can't I Get a Mortgage? 

By:: Catherine Brock - MortgageLoan.com | March 20, 2009

Tired of hearing mortgage lenders say "No?" It's a new era in mortgage lending, one that withholds mortgage loans from all but the most organized and qualified applicants.

Options Available for Veterans with Mortgage Problems

By:: Kirk Haverkamp - MortgageLoan.com | March 20, 2009

The current recession is being particularly hard on recent military veterans, whose unemployment rate is higher than that of others in their age group who did not serve. Fortunately, veterans who are having difficulty making their mortgage payments have some new tools available to help them.

Your Taxes and the Economic Stimulus Plan

By:: Catherine Brock - MortgageLoan.com | March 19, 2009

Your income tax bill for 2009 may have just gotten smaller, thanks to the passing of the new economic stimulus plan.

Fed Actions Stir Early Concerns of Inflation

By:: Peter King - MortgageLoan.com | March 19, 2009

The Federal Reserve's aggressive action on Wednesday to buy up Treasury bonds and mortgage-backed securities is designed to jolt the economy out of its doldrums, but at a potentially high price - the risk of triggering rapid inflation.

Online Tools Help Homeowners Find if They Have a Fannie or Freddie Mortgage

By:: Peter King - MortgageLoan.com | March 19, 2009

Borrowers who would like to refinance their homes but aren't sure if they have a Fannie Mae or Freddie Mac mortgage needed to qualify for the government's new Making Home Affordable mortgage relief program now have an easy way to get their answer.

Market, Economy Waits for Bernanke and FOMC's Next Move

By:: Bill Rice - MortgageLoan.com | March 18, 2009

What will be the Federal Reserve's next move? Bernanke and the Federal Open Market Committee wrap up a two day meeting this afternoon. Faced with an economy that continues to post negative results and interest rates effectively at zero, theFOMC will need to rely on more creative moves to revive the economy.

Six Tips to Identify a Predatory Lender

By:: Greg Mischio - MortgageLoan.com | March 18, 2009

Predatory lenders have wreaked havoc on unsuspecting homeowners as well as on our global economy. The slumping real estate market necessitates that you protect yourself from predatory lending, now more than ever.

Mortgage Rates Expected to Fall Following Fed Action

By:: MortgageLoan.com - MortgageLoan.com | March 18, 2009

Mortgage rates are expected to drop still further in the wake of Wednesday's announcement by the Federal Reserve that it will make major purchases of both mortgage-backed securities and Treasury notes in an effort to jolt the flagging economy.

Obama Administration and Treasury Announce New Mortgage Strategy

By:: Tom Kerr - MortgageLoan.com | March 17, 2009

Treasury Secretary Timothy Geithner finally made his long awaited announcement regarding TARP bank and mortgage bailout plans. But his outline was so vague that it only seemed to exacerbate the financial crisis by making the stock market plummet.

Loss of Mortgage Deduction Stirs Homeowners and Mortgage Industry

By:: Bill Rice - MortgageLoan.com | March 17, 2009

Embedded in President Barack Obama's budget is an attack on something as American as baseball and apple pie--the mortgage-interest deduction. "Buy a home and get a tax break" is practically a national anthem in the US.

Mortgage Rates Steady

By:: MortgageLoan.com - MortgageLoan.com | March 17, 2009

The MortgageLoan.com mortgage rate survey shows little movement on the average 30-year fixed-rate mortgage, fluctuating between 5.10 and 5.15 percent for the last few day.

Mortgage Loan Modifications Critical to Obama Rescue Plan

By:: Catherine Brock - MortgageLoan.com | March 16, 2009

The Obama administration is ready to back a robust foreclosure prevention program. Analysts say that such a program will have to tackle the problem from several angles.

Mortgage Rates Holding

By:: MortgageLoan.com - MortgageLoan.com | March 16, 2009

Mortgage rates seem to be holding within a tight band around 5 percent.

Bernanke Takes Plea for Political Will Straight to the American Taxpayer

By:: Bill Rice - MortgageLoan.com | March 16, 2009

In an interview straight out of President Obama's media playbook, Federal Reserve Chairman Ben Bernanke takes his case straight to the American people on "60 Minutes." A case that is sure to require more of the taxpayer's money to achieve what he claims is a fundamental underpinning to economic recovery--stabilizing the US banking system.

Homeowners Suffer $3.3 Trillion Home Equity Reduction

By:: Catherine Brock - MortgageLoan.com | March 15, 2009

More bad news has been released on the state of the housing market. Homeowners absorbed trillions in home equity reductions last year, and most of the damage was done in the fourth quarter.

Homebuyers: Let Government Pay 10 Percent of Your New Mortgage!

By:: Catherine Brock - MortgageLoan.com | March 14, 2009

New mortgage borrowers can save as much as 10 percent on their home purchase, just for buying their first home in 2009.

Fannie Mae Eases Mortgage Refinance Rules

By:: Greg Mischio - MortgageLoan.com | March 13, 2009

Mortgage applications have been on the rise lately, as rates for home loans have dropped to historic lows. Now, Fannie Mae would like to further increase the number of people looking for a mortgage refinance. They've loosened guidelines, allowing people with poor credit easier access to a new home loan.

Mortgage Rates-Early Upward Spike

By:: MortgageLoan.com - MortgageLoan.com | March 13, 2009

In early morning trading mortgage rates received tremendous upward pressure. However, they have recently recovered to flat.

Homeowners Go Online to Understand New Mortgage Relief Plans

By:: Bill Rice - MortgageLoan.com | March 13, 2009

President Obama's latest loan modification plan has driven homeowners to the Internet for answers. Online traditional news outlets, as well as specialized real estate and mortgage news and information sources are reporting significant increases in consumer traffic and inquiries.

Mortgage Applications Continue to Increase, Might Be False Hope

By:: Bill Rice - MortgageLoan.com | March 12, 2009

Mortgage applications move higher again in response to declining mortgage rates. Could this be false hope in recovering a steadily declining housing market?

Builders, Consumers Eye Slow 2009 Housing Market

By:: Tom Kerr - MortgageLoan.com | March 12, 2009

Mortgage rates are low, but credit is scarce. The housing market is a wreck, and foreclosures are growing. Unemployment rates are approaching double digits, and the job market is in crisis. All of this portends a depressing 2009 for builders and homesellers alike.

Mortgage Rates Down

By:: MortgageLoan.com - MortgageLoan.com | March 12, 2009

Mortgage rates continue to improve on better economic data.

Mortgage Rates Tick Up

By:: MortgageLoan.com - MortgageLoan.com | March 11, 2009

Mortgage rates tick up yesterday on a historic stock market rally. MortgageLoan.com mortgage rate survey is showing 5.13 percent on the average 30-year fixed-rate mortgage.

New Mortgage Modification Plan Causes Conflicts with Home Equity Portfolios

By:: Bill Rice - MortgageLoan.com | March 11, 2009

Large first mortgage servicers have just been handed a potentially dangerous incentive to help their second mortgage portfolios. The Obama administration's new loan modification plan, Home Affordable Modification Program, strongly encourages mortgage servicers to restructure first mortgages.

State Attorneys General Support Bankruptcy Code Amendments

By:: Catherine Brock - MortgageLoan.com | March 11, 2009

As the mortgage crisis continues to wreak havoc on households and housing values, a group of high profile state officials are lobbying for bankruptcy court-ordered loan modifications.

Kenneth Lewis Pleads for Facts to Guide Debate on Economic Crisis

By:: Bill Rice - MortgageLoan.com | March 10, 2009

Taking to the Opinion section of the Wall Street Journal this morning, Kenneth Lewis calls for clear facts and undistorted information to guide debate on the path to recovery. His op-ed argues that the crisis is increasing fueled by misinformation that stifles options and confidence to recover our economy.

Mortgage Rates Moving Up

By:: MortgageLoan.com - MortgageLoan.com | March 10, 2009

Expect mortgage rates to climb today.

U.S. Treasury Helps Shore-up Student Loans

By:: Greg Mischio - MortgageLoan.com | March 10, 2009

In addition to the huge federal bailout of failed financial institutions, the U.S. Treasury Department is taking steps to get money flowing in other critical lending sectors. They've recently committed as much as $60 billion to the student loan market in an effort to reduce the illiquid assets on banks' balance sheets.

Mortgage Rates Start Week Lower

By:: MortgageLoan.com - MortgageLoan.com | March 09, 2009

Mortgage rates ended last week lower, at 5.11 percent for an average 30-year fixed-rate mortgage according to the MortgageLoan.com rate survey.

Stimulus Bill Offers Tax Credits for Homebuyers

By:: Catherine Brock - MortgageLoan.com | March 09, 2009

The House and Senate grappled over tax credits and tax rebates, but finally, the new economic stimulus plan will incorporate some form of tax relief for homebuyers.

Why Consider a Loan Modification and How to Do it Safely

By:: Bill Rice - MortgageLoan.com | March 09, 2009

Bank mortgage portfolios continue to fill with homeowners in payment default. Meanwhile, housing inventories swell with foreclosures. The economy is in one of its worst downturns in decades and chances are it is affecting you.

Could a Mortgage Holiday be Key to Saving Economy?

By:: Catherine Brock - MortgageLoan.com | March 08, 2009

An informal survey indicates that most Americans would support government-funded mortgage payment relief. Is this a cockeyed plan, or a viable solution to reinvigorate the economy?

Fannie Mae, Federal Reserve: Moving on Loan Modifications

By:: Tom Kerr - MortgageLoan.com | March 07, 2009

In a major policy shift, the Federal Reserve announced that it would start doing loan modifications through mortgage writedown strategies, which includes reduction of loan principal. Fannie Mae may also be poised to adopt similar loan modification plans to help homeowners.

Mortgage Cram-Down Bankruptcy Legislation Passes in House

By:: Bill Rice - MortgageLoan.com | March 06, 2009

A controversial bill that would allow loan modifications by Federal judges, forcing banks to reduce the payments of borrowers in bankruptcy got one step closer to becoming a law. The so called mortgage "cram-down" law passed in the House of Representatives yesterday 234-191 and heads to the Senate.

Mortgage Brokers Losing Lending Options

By:: Tom Kerr - MortgageLoan.com | March 06, 2009

Mortgage brokers have lost the ability to shop around for as many lending options for their clients, because banks are no longer working with mortgage brokers with many of their products. The shift will put many brokers out of business, and possibly limit consumer choices.

Mortgage Crisis Expands as Economy Weakens

By:: Bill Rice - MortgageLoan.com | March 05, 2009

Recent mortgage industry data reports are showing that the mortgage crisis continues to alarming deepen despite a variety of government assistance programs and capital. One of the major contributors in the expansion of job loss to multiple sectors and an increasing number of States.

Fannie and Freddie Extend Foreclosure Moratorium

By:: Catherine Brock - MortgageLoan.com | March 05, 2009

The nation's largest two mortgage companies are giving distressed mortgage borrowers a little more time to stay in their homes.

Mortgage Rates Lower

By:: MortgageLoan.com - MortgageLoan.com | March 04, 2009

Mortgage rates repriced lower yesterday. Meanwhile, treasuries continue to trend higher as the bond market begins to get nervous about mounting Federal deficits.

Treasury Releases Details of Expansive Mortgage Modification Program

By:: Bill Rice - MortgageLoan.com | March 04, 2009

Today the US Treasury announced the much anticipated details of the Obama loan modification plan. This program is the broadest program to date targeting foreclosure prevention. Unique to other similar loan modification programs this plan seeks to aid troubled borrowers before they begin missing mortgage payments.

Republicans Move to Fix Mortgage Crisis

By:: Catherine Brock - MortgageLoan.com | March 04, 2009

Partisan battles over the economic stimulus plan continue, as Republicans try in vain to push mortgage rates down with government subsidies.

Watch Out for Loan Modification Scams

By:: Greg Mischio - MortgageLoan.com | March 03, 2009

Just when you thought you'd seen the end of subprime mortgage lending practices, a new scam has entered the marketplace. Many of the unethical brokers who brought us the subprime debacle have resurfaced, and are now offering mortgage fraud disguised as loan modifications.

Citigroup to Help Jobless with Mortgage Payments

By:: Bill Rice - MortgageLoan.com | March 03, 2009

According to a Wall Street Journal report, Citigroup will announce a program today that attempts to help unemployed homeowners make their mortgage payment.

Mortgage Rates Unpredictable

By:: Bill Rice - MortgageLoan.com | March 02, 2009

Mortgage rates should move down, but there is a lot of confusing information in the mortgage-backed securities and bond markets.

Protecting the Middle-Class from Dreaded AMT Tax

By:: Catherine Brock - MortgageLoan.com | March 02, 2009

The AMT tax law debate has been raging for years. The latest flare up involves a proposal to incorporate a temporary fix into President Obama's economic stimulus plan.

Mortgage Tax Deduction May Be at Risk, Quietly Wounding Mortgage Payers

By:: Bill Rice - MortgageLoan.com | March 02, 2009

President Obama's recent budget proposal may wipe out your mortgage deduction. Is this the right time to cut incentives to homeownership? The housing industry, at record lows and bulging with home inventory, is loudly protesting.

Obama's Gift to Mortgage Brokers: Tighter Regulations

By:: Tom Kerr - MortgageLoan.com | March 01, 2009

As the president tries to cure the economy, he's calling for stricter banking regulations and more oversight of mortgage brokers. He hasn't revealed specific mortgage license guidelines yet, but they'll likely include numerous kinds of oversight and consumer protections.

Mortgage Crisis a Boon for Community Banks

By:: Catherine Brock - MortgageLoan.com | February 28, 2009

The door has been kicked wide open for community banks to gain a foothold in mortgage lending, as national financial institutions work to recover from rising mortgage loan losses.

Mortgage Refinance Stalls on Higher Costs, Tightening Credit

By:: Bill Rice - MortgageLoan.com | February 27, 2009

Mortgage applications fell over the last week as mortgage rates climb and some borrowers wait for President Obama's mortgage plan to be implemented. However, there may be an even bigger contraction that will prevent any significant recovery--mortgage loan officers are finding it increasingly difficult to help borrowers.

Mortgage Rates Improve

By:: MortgageLoan.com - MortgageLoan.com | February 27, 2009

Mortgage rates are improving this morning. Having spent the week on the rise, mortgage rates are showing signs of improvement.

Mortgage Crisis Culprit: Affordable Homeownership

By:: Tom Kerr - MortgageLoan.com | February 27, 2009

Some analysts have concluded that a push for home ownership may be responsible for causing the subprime mortgage crisis. Studies reveal that while minorities gained in terms of homeownership, they were also sold an inordinate portion of high-risk mortgage loan products.

Falling Home Prices Impacts more than Home Equity

By:: Catherine Brock - MortgageLoan.com | February 26, 2009

The impact of falling home prices on home equity values has been well documented; but now, other areas are being affected, as well.

Government to Stress Test Big Banks

By:: Bill Rice - MortgageLoan.com | February 26, 2009

US banking regulators reveal the details of the much anticipated "stress test" to be applied to large financial institutions. This process is intended to sort banks by their ability, strength to endure even deeper recession.

College Financing 2009: Tips for Getting Aid

By:: Catherine Brock - MortgageLoan.com | February 25, 2009

Stressed out about paying for college this year? Then it's time to brush up on your financial aid know-how.

Mortgage Rates Rise

By:: Bill Rice - MortgageLoan.com | February 25, 2009

Mortgage rates have worsened slightly today on bond selling and small mid-day equities rally.

Obama Returns to Message of Hope:

By:: Bill Rice - MortgageLoan.com | February 25, 2009

Taking a historic stage as the first black president, President Obama took a much more positive message to the American people. Reassuring them that although there are challenges ahead, there is little reason to underestimate the resilience of this great nation.

Mortgage Rates Upward Bias

By:: Bill Rice - MortgageLoan.com | February 24, 2009

MortgageLoan.com's mortgage rate survey is showing the average 30-year fixed-rate up to 5.11%.

Mortgage Meltdown and Bankruptcy Laws

By:: Catherine Brock - MortgageLoan.com | February 24, 2009

Lawmakers want to change bankruptcy laws to fix the mortgage market. Could that change backfire and create a new mortgage meltdown?

Citigroup Moving Towards Nationalization

By:: Bill Rice - MortgageLoan.com | February 24, 2009

Debate builds on the topic of nationalizing US banks as Citigroup seems to be headed for that fate. The Obama administration continues to issue statements that assures the market that they favor a policy of a private banking sector. However, slips of the tongue by Federal Reserve Chairman Ben Bernanke seem to indicate that this option is being considered.

Governors Debate President's Economic Stimulus Plan

By:: Bill Rice - MortgageLoan.com | February 23, 2009

Gathered for the Winter meeting of the National Governors Association, the leaders of the nations' states are pouring over the details of the $787 billion economic stimulus. States are being devastated by the mortgage foreclosures and home values, whose property taxes are the most significant portion of most states' revenues.

New Rules to Control Inflated Home Appraisals

By:: Tom Kerr - MortgageLoan.com | February 23, 2009

For years, appraisers have complained that they're routinely pressured by mortgage brokers to tweak home values and influence housing prices up or down. But now, fresh regulations are going into effect that are intended to put a stop to this kind of unfair tampering and tinkering.

Mortgage Rates Expected to Move Lower

By:: Bill Rice - MortgageLoan.com | February 23, 2009

This week is expected push mortgage rates lower for the third straight week.

Economic Recovery's Future: Obama, Congress, and TARP

By:: Catherine Brock - MortgageLoan.com | February 22, 2009

Capitol Hill's plans for economic recovery are still uncertain, as Obama's economic team lobbies Congress for the remaining TARP funds, and then some.

Credit Markets Finding New Life

By:: Catherine Brock - MortgageLoan.com | February 21, 2009

High-level signs indicate that a slight recovery may be underway in the credit markets. Experts hope that this is the start of a broader mending in business and consumer credit, as well as in mortgage lending.

Mortgage Rates Fall Back Towards 5%, Bank Nationalization Fears Rise

By:: Bill Rice - MortgageLoan.com | February 20, 2009

MortgageLoan.com's mortgage rate watch saw the average 30-year fixed-rate move back down, nearing 5 percent. The average 15-year fixed-rate mortgage dipped below 5 percent to 4.80 percent.

Mortgage Rates Running Down to 5%

By:: Bill Rice - MortgageLoan.com | February 20, 2009

Mortgage rates open Friday on a hard downward turn--possibly dropping 30-year fixed-rate mortgages below 5 percent.

Bankruptcy Becoming a Desirable Solution

By:: Greg Mischio - MortgageLoan.com | February 20, 2009

A perfect indicator of the state of the U.S. economy is the escalating number of bankruptcy filings. Many people overwhelmed with consumer debt and maxed-out credit cards are filing for bankruptcy at alarming rate. Experts believe the trend is only going to get worse.

New Mortgage Plan Expected to Help 9 Million Avoid Foreclosure

By:: Bill Rice - MortgageLoan.com | February 19, 2009

President Obama has promised another $275 billion to help homeowners maintain their mortgages and avoid foreclosure. The new mortgage plan will provide $75 billion for direction foreclosure prevention and double the federal guarantee of Fannie Mae and Freddie Mac--adding another $200 billion--to a total of $400 billion.

Rethinking your Mutual Fund Investment

By:: Catherine Brock - MortgageLoan.com | February 19, 2009

Knowing when to sell a mutual fund position is as important as knowing when to buy one.

Bernanke's Plan: Return to Original TARP Strategy

By:: Tom Kerr - MortgageLoan.com | February 18, 2009

Federal Reserve chairman Ben Bernanke has said that he wants to get back to the basics when it comes to spending the remaining TARP funds. In a speech at the London School of Economics, he also said that to fix the economy, the financial and credit markets must first be repaired.

Mortgage Rates Anticipate Obama Plan

By:: Bill Rice - MortgageLoan.com | February 18, 2009

Mortgage rates continued to improves yesterday on anticipation of a positive reaction to today's Obama mortgage plan.

Increasing Unemployment Creating New Wave of Housing Problems

By:: Bill Rice - MortgageLoan.com | February 18, 2009

Today the Obama administration releases details on how they plan to spend $50 billion, from the remaining TARP funds, to help borrowers in trouble. Most expect another round of loan modification proposals, maybe even some standardization in how to renegotiate these troubled mortgages. Unfortunately, the housing crisis of 2009 may have more to do with jobs than payment.

Mortgage Rates Down

By:: Bill Rice - MortgageLoan.com | February 17, 2009

Mortgage rates open the day lower. The market seems to be pricing in a positive reaction to another mortgage aid plan, to be announced by President Obama on Wednesday.

New Mortgage Rescue Plan Expected Wednesday from President Obama

By:: Bill Rice - MortgageLoan.com | February 17, 2009

Curiously absent from the enormous economic stimulus plan, expected to be signed by President Obama today, was additional aid for a mortgage and housing market that continues to falter. However, shortly after that legislation cleared the Senate hurdles the Obama administration was talking about another rescue package.

ARM Mortgagees Faced with Refinancing Conundrum

By:: Tom Kerr - MortgageLoan.com | February 17, 2009

Mortgage rates on adjustable-rate mortgages (ARMs) skyrocketed last year, so many homeowners are eager to do a mortgage refinance into a safer and more affordable fixed-rate loan. However, interest rates have fallen, which may mean that it's still cheaper to stay in an ARM and let it reset to the new lower rate.

Breaking New Records: Home Equity Delinquencies

By:: Catherine Brock - MortgageLoan.com | February 16, 2009

A new report shows rising delinquencies on home equity loans and home equity lines of credit, as consumers struggle to manage their debt payments under increasingly tight economic conditions.

Obama Scraps Car Czar, Will Drive Auto Recovery from the White House

By:: Bill Rice - MortgageLoan.com | February 16, 2009

Expected today, is another Obama administration decision that consolidations more power within the White House. President Barack Obama is expected to announce foregoing the concept of a Car Czar, and appointing a task force to administer a reshaping of the US auto industry.

Credit Versus Debit Cards: Know the Differences

By:: Greg Mischio - MortgageLoan.com | February 15, 2009

As the economy continues to crumble, consumers are becoming increasingly mindful of their financial options. Understanding tools like credit cards and debit cards is smart money management. It can keep you out of debt and actually save you money.

Citigroup to Support Bankruptcy Loan Modifications

By:: Catherine Brock - MortgageLoan.com | February 14, 2009

Cramdown legislation that would allow the bankruptcy court to make loan modifications on behalf of distressed borrowers is a hot topic on Capitol Hill. The saga took a surprising turn recently, when Citigroup broke away from its peers and said it would back the legislation.

Low Mortgage Rates may not Last Long

By:: Tom Kerr - MortgageLoan.com | February 13, 2009

Mortgage rates have hit a 50-year low, but many economists warn that low interest rate loans may not be here for long. With the Federal Reserve and Treasury spending freely to save the economy, inflation may put an end to inexpensive mortgage rates before the end of the year.

US Government May Subsidize Your Mortgage Payment

By:: Bill Rice - MortgageLoan.com | February 13, 2009

The Obama administration unveiled an unprecedented plan to directly help homeowners make their mortgage payments. In a dramatic departure from current homeowner assistance programs, this plan would help borrowers before they become delinquent.

Tentative Agreement Reached on the Economic Stimulus Package

By:: Bill Rice - MortgageLoan.com | February 12, 2009

House and Senate leadership announced an agreement late Wednesday afternoon on a trimmed $790 billion economic stimulus package. The two houses of Congress spent nearly 24 hours negotiating a merger of the House-passed legislation and the stalled Senate version.

Mortgage Rates Remain Flat

By:: Bill Rice - MortgageLoan.com | February 12, 2009

The MortgageLoan.com mortgage rate index starts the day with 30-year fixed-rate mortgages at 5.11%.

Mortgage Fraud's New Target: Loan Modifications

By:: Catherine Brock - MortgageLoan.com | February 12, 2009

Foreclosure prevention has become the new calling card for con artists. Reports say perpetrators are collecting large fees upfront in return for loan modifications and mortgage refinances that may never materialize.

Geithner's Bailout Plan Leaves Markets with Questions and Big Losses

By:: Bill Rice - MortgageLoan.com | February 11, 2009

Contrary to President Obama's promise in Monday's prime time press conference, Treasury Secretary Geithner's new TARP plan was neither "clear" or "specific." Geithner's outline of Obama administration's plan seemed to fall short.

Falling Home Equity: Should You Walk Away?

By:: Catherine Brock - MortgageLoan.com | February 11, 2009

Voluntary foreclosure may be the next disturbing trend in housing, as homeowners rebel against falling home values and negative home equity.

Mortgage Rates Down 20%

By:: Bill Rice - MortgageLoan.com | February 11, 2009

The 30-year fixed-rate mortgage rate dumped nearly 20%, falling to 5.19% on the MortgageLoan.com mortgage rate survey.

Credit Card Changes Hurting Customers

By:: Greg Mischio - MortgageLoan.com | February 10, 2009

The subprime mortgage crisis was sparked by the uptick in interest rates on adjustable-rate mortgages. Homeowners suddenly found themselves unable to make higher mortgage payments, and foreclosures soon followed. The same ugly scenario could repeat itself with credit cards.

New TARP Unveiled Today, Finding Homes for Bad Mortgages

By:: Bill Rice - MortgageLoan.com | February 10, 2009

President Obama, in his first prime-time press conference, continually deferred questions of mortgage crisis and financial sector recovery to his Treasury Secretary. Timothy Geithner is scheduled to reveal his approach to financial system rescue and clearing out troubled mortgages.

Mortgage Rates Drift Down

By:: Bill Rice - MortgageLoan.com | February 10, 2009

Mortgage rates improved slightly in after-market trading and in early bond market open.

Bank of America Fights Back Government Takeover Rumors

By:: Bill Rice - MortgageLoan.com | February 09, 2009

Bank of America stock plunged below $4 last week on rumors that Bank of America would go back for more TARP funds or even be taken over by the US government. Embattled CEO Kenneth Lewis said rumors of a government takeover was "absurd."

Mortgage Rates Flat-Await News

By:: Bill Rice - MortgageLoan.com | February 09, 2009

Understandably, mortgage rates open flat on anticipation of numerous announcements that will directly impact the direction of markets.

Bailout Offers Auto Loan Relief

By:: Catherine Brock - MortgageLoan.com | February 09, 2009

Auto financing just got easier for consumers with less-than-stellar credit scores.

Credit Score More Important than Ever Before

By:: Catherine Brock - MortgageLoan.com | February 08, 2009

Lenders, particularly credit card issuers, are watching your credit scores more closely than ever.

Lower Mortgage Rates: A Gamble or Worth the Wait?

By:: Tom Kerr - MortgageLoan.com | February 07, 2009

Whether or not to lock in mortgage rates is always a tricky decision, but these days, it should be somewhat easier for consumers. We now have historically low mortgage rates that have never been seen before, and they're a really good bet, even if rates continue to fall farther.

Mortgage Rate Climb on Jobs Number

By:: Bill Rice - MortgageLoan.com | February 06, 2009

Mortgage rates make an immediate negative reaction in the bond market. Reinforcing an upward trend in mortgage rates over the last several weeks.

Fannie Mae Loosen Underwriting on Mortgage Refinance | Fannie Mae Refi Plus Program

By:: Bill Rice - MortgageLoan.com | February 06, 2009

Fannie Mae has posted new guidelines for approving homeowners attempting to lower their loan payments with a mortgage refinance.

Mortgage Refinance Boom

By:: Catherine Brock - MortgageLoan.com | February 06, 2009

Mortgage rates are almost as low as they've ever been, and savvy, qualified homeowners are taking advantage of the trend to lower their monthly payments.

Home Equity Borrowers Getting a Break

By:: Catherine Brock - MortgageLoan.com | February 05, 2009

The prime rate is at its lowest level since 1955, and home equity borrowers are reaping the rewards.

Mortgage Rate Continue to Climb

By:: Bill Rice - MortgageLoan.com | February 05, 2009

Despite discussion of 4 percent mortgage rates ringing in the halls of the Senate, mortgage rates continue to rise.

Hope for Homeowners Mortgage Program Needs Makeover

By:: Bill Rice - MortgageLoan.com | February 05, 2009

Hope for Homeowners, one of the first mortgage rescue programs, has been a dramatic failure. Designed and advocated as a foreclosure prevention program, it has only received 451 applications, closed a mere 25 loans, and none have been insured by the Federal Housing Administration (FHA).

Affordability Returns to Housing Markets, Low Mortgage Rates Drive Home Sales

By:: Bill Rice - MortgageLoan.com | February 04, 2009

The National Association of Realtors (NAR) report US homes at the most affordable levels since 1970, when they began tracking affordability. NAR's affordability index jumped 10.9 percent in December--rising on falling home process and low mortgage rates.

Home Prices: Stabilizing or Rising?

By:: Tom Kerr - MortgageLoan.com | February 04, 2009

The trillion-dollar question on every economist's mind is whether or not housing prices are going up or coming down. Many experts believe that home prices are seeking their bedrock bottom level, but that prices and home equity valuations won't turn around until at least 2010.

Republicans Propose Different Stimulus, Targeted at Mortgages and Homeowners

By:: Bill Rice - MortgageLoan.com | February 03, 2009

Senate Republican lead Mitch McConnell (R-KY) introduced a radically new economic stimulus approach. McConnell requested an amendment to the House economic stimulus bill entering the Senate. This radical departure from the Democrat engineered economic stimulus would give government-backed low-interest mortgages to homeowners.

Bottomless Pit: Consumers Falling Deeper into Debt

By:: Catherine Brock - MortgageLoan.com | February 03, 2009

Consumer debt may be moderating, but debt delinquencies are ticking up. Those rising delinquencies foreshadow more economic turmoil for U.S. households and domestic credit card issuers.

Bad Bank Out, Limiting Executive Pay and Expanding Mortgage Lending In?

By:: Bill Rice - MortgageLoan.com | February 02, 2009

Wall Street reveilled briefly in the prospect of "bad banks," aggregating toxic mortgage loans into a government controlled bank. Likewise, they reacted aggressively on the hint that the plan is shoved to the back burner.

Mortgage Rates Climb

By:: Bill Rice - MortgageLoan.com | February 02, 2009

Last week ended with another gentle increase in mortgage rates. Rates have climbed consistently over the last four weeks, but seem to have support in the low 5 percent range.

Mortgage Loan Modifications Prove Challenging for Homeowners

By:: Catherine Brock - MortgageLoan.com | February 02, 2009

Mortgage loan modifications haven't yet gained enough traction to slow down the foreclosure crisis-and one consumer group explains why.

Freddie Mac Mortgage Portfolio Balloons

By:: Tom Kerr - MortgageLoan.com | February 01, 2009

After devastating setbacks during 2008, when its stock plunged and its mortgage portfolio became increasingly toxic, Freddie Mac is bouncing back. After nearly collapsing and being taken over by the government, the agency has reported a record surge in its mortgage business.

Financial Misery Loves Company: Student Loan Defaults on Rise

By:: Catherine Brock - MortgageLoan.com | January 31, 2009

Recessionary economic conditions and a poor job market are working against college grads who have high balances on education loans.

Mortgage Loan Modifications Hit Record High, While New Home Sales Hit Record Low

By:: Bill Rice - MortgageLoan.com | January 30, 2009

Mortgage companies continue to move at an accelerating rate to modify trouble loans--modifying 122,000 loans in December. Meanwhile, new home sales in December went the opposite direction to hit record lows--only 23,000 Americans bought homes in December.

Conservative Consumers more Cautious about Tapping Home Equity

By:: Greg Mischio - MortgageLoan.com | January 30, 2009

The downturn in the housing market has inspired a new wave of thinking among homeowners. In the past, it was easy to cash out a huge amount of home equity and redo a kitchen. The drop in home values has shattered that conventional wisdom, and the cash-out refinance is fading from the financial landscape.

Mortgage Rates Start to Climb

By:: Bill Rice - MortgageLoan.com | January 30, 2009

Mortgage rates are still at record lows, but they are edging up. The most concerning issue is that bank mortgage rates are moving counter to market data.

Debt Concepts Confuse too many Americans

By:: Catherine Brock - MortgageLoan.com | January 29, 2009

A new survey from Opinion Research Corporation for the Center for Economic and Entrepreneurial Literacy makes some discouraging conclusions about the financial management skills of American households.

$819 Billion Stimulus Passes House. Recovery or Pork?

By:: Bill Rice - MortgageLoan.com | January 29, 2009

The new Obama administration gets a first legislative victory with the easy passage of his $819 billion economic stimulus package. However, several questions and controversies plague the bills entry into the Senate. Is it spending the right areas? Will the effects be fast enough? Is that pork I see? Where did Obama's scalpel go?

"Bad Bank" For Toxic Mortgages Gaining Support from Obama Administration

By:: Bill Rice - MortgageLoan.com | January 28, 2009

Lawmakers and Wall Street are buzzing about the prospect of a "bad bank." This plan would create an aggregator bank to acquire, rewrite, and liquidate these troubled mortgages. Sources indicate that the Obama administration is behind the proposal and the FDIC is lobbying to manage the operation.

New Year Focus: TARP Hearings Focus on Foreclosure Aid

By:: Tom Kerr - MortgageLoan.com | January 28, 2009

With a new White House administration taking over this month, Congress has convened once again to attack the nation's economic problems. High on the agenda is urgent attention to the housing sector, and lawmakers promise to use remaining TARP funds to provide foreclosure aid.

Fed: More MBS Buying and Long-Term Treasuries

By:: Bill Rice - MortgageLoan.com | January 28, 2009

The Federal Reserve is out of room on the Funds Rate, at a range of 0-0.25 percent. However, the Federal Open Market Committee (FOMC) assured us today there were plenty of tools left.

Mortgage Rates Continue to Idle

By:: Bill Rice - MortgageLoan.com | January 27, 2009

Mortgage rates continue to bounce tightly around the 5 percent mark for 30-year fixed-rate mortgages.

Fannie Mae and Freddie Mac Need Billions to Prop Continued Mortgage Losses

By:: Bill Rice - MortgageLoan.com | January 27, 2009

Just days after Freddie Mac announced a need for $35 billion, Fannie Mae says it needs $16 billion in federal aid. Continued deterioration in mortgage assets have now driven these enterprises net worth below zero in the last quarter, according to recent securities filings.

State Deficits Leading to Tax Hikes

By:: Catherine Brock - MortgageLoan.com | January 27, 2009

Even if Barack Obama decides to shelve his tax increases, don't get too comfortable with your tax bill just yet. At the state level, lawmakers are struggling to overcome big deficits, and it looks like increased taxes may be the only solution.

Federal Reserve May Get Power to Regulate Entire US Financial System

By:: Bill Rice - MortgageLoan.com | January 26, 2009

The financial sector may be getting new oversight that makes Sarbanes-Oxley look like a light administrative task. Congress is moving aggressively to bring a new regulatory structure over the entire US financial system, most probably concentrated within the Federal Reserve.

New Early Workout Loan Modifications to Help Consumers

By:: Catherine Brock - MortgageLoan.com | January 26, 2009

Fannie Mae has established a mortgage loan modification program to help consumers avert foreclosure at the very first signs of trouble.

Mortgage Rates Flat

By:: Bill Rice - MortgageLoan.com | January 26, 2009

Mortgage rates open the week flat--in a holding pattern for pending economic reports.

American Home Values Heading into Deeper Waters

By:: Catherine Brock - MortgageLoan.com | January 25, 2009

Home values are still sliding, and the trend is sending more and more homeowners into negative home equity territory.

Homebuyers Turning to FHA Rehab Mortgages

By:: Tom Kerr - MortgageLoan.com | January 24, 2009

A program from the FHA to help pay for home repairs is gaining in popularity. Special FHA rehab mortgage loans provide buyers with money based on the future value of the property after repairs and improvements are completed. As a result, they're ideal for buying "fixer-upper" homes.

Rates Fall Below 5%, But Mortgage Refinance Challenging

By:: Bill Rice - MortgageLoan.com | January 23, 2009

Mortgage rates are hitting record breaking lows, flooding down-sized lenders with new mortgage applications. Unfortunately, many of these eager homeowners may find attractive mortgage rates and lower payments elusive.

Mortgage Rates Open Flat

By:: Bill Rice - MortgageLoan.com | January 23, 2009

Mortgage rates open flat.

Credit Card Changes to Help Consumers

By:: Greg Mischio - MortgageLoan.com | January 23, 2009

Judgment day for credit card companies has come and gone. The federal government announced that the purveyors of plastic have been too harsh on their customers. A crackdown looms in 2010, one that will have severe consequences for credit card companies and consumers alike.

Congress Introduces National Mortgage Fraud Task Force Act

By:: Bill Rice - MortgageLoan.com | January 22, 2009

Low mortgage rates have brought more than a refinance boom, it has brought a surge in mortgage fraud. FBI statistics show that it is one of the fastest growing white collar crimes in the United States.

Calling TARP: More Mortgage Relief Needed

By:: Tom Kerr - MortgageLoan.com | January 22, 2009

As banks hoard Troubled Asset Relief Program (TARP) funds provided by the $700 billion bailout plan, the mortgage crisis continues. Advocates for foreclosure loan modification relief are now demanding that TARP money be spent to help homeowners rework troubled mortgages.

Mortgage Rates Trend Up

By:: Bill Rice - MortgageLoan.com | January 21, 2009

Mortgage rates are trending up on a lot of mortgage bond volatility.

President Obama Walks into New Bank Crisis

By:: Bill Rice - MortgageLoan.com | January 21, 2009

While President Barack Obama was being sworn in, Wall Street was free falling. Bank stocks continue to inject fear into the market as toxic mortgage assets continue to force large write downs and stockpiling capital into reserve provisions.

America's New Savings Plan: Mortgage Refinance

By:: Catherine Brock - MortgageLoan.com | January 21, 2009

Mortgage rates are edging lower after the government announced a plan to purchase mortgage-backed securities. Homeowners are using the trend to save money on their monthly mortgage payments.

Mortgage Rates Still at 5.00%, but Point Higher

By:: Bill Rice - MortgageLoan.com | January 20, 2009

Mortgage rates open after the holiday indicating higher rates.

Obama Campaigned for President, But Becomes Top Mortgage Banker

By:: Bill Rice - MortgageLoan.com | January 20, 2009

Warren Buffett called it an "economic Pearl Harbor." Even the best economists concede they were hit with little warning of the economic sneak attack, ensuing from the mortgage meltdown. All early indications are that Barack Obama, only hours away from being the 44th president, approaches this crisis with the same weight.

Second Wave of Mortgage Crisis to Begin

By:: Tom Kerr - MortgageLoan.com | January 20, 2009

While the economy remains a shipwreck, many experts predict a second wave of the mortgage crisis involving Alt-A and Option ARM loans. But even more alarming is that some industry observers expect this new phase of the crisis to be worse than the original subprime fallout.

Are Loan Modification Programs Successful?

By:: Tom Kerr - MortgageLoan.com | January 20, 2009

Loan modification programs were meant to save the housing market, but new reports show little progress or success. Modified refinance plans and modified mortgages have both been offered to borrowers, but it appears that the loan modification programs themselves need to be modified.

Hear Ye, Hear Ye-Get Your Appraisal-Free Mortgage Refinance!

By:: Greg Mischio - MortgageLoan.com | January 19, 2009

The economic crisis has been unprecedented in many ways, but the latest news concerning Fannie Mae and Freddie Mac takes the cake. The mortgage refinance companies are considering issuing refinanced loans without home value appraisals.

Is Home Equity Wiped Out for the Long Run?

By:: Catherine Brock - MortgageLoan.com | January 19, 2009

In the years when real estate was booming, home equity values grew much faster than inflation, personal income, and rent metrics. Assuming that those values have to get back to where they would've been without that excessive growth, it might be a long time before home prices start increasing again.

How Much will the Bailout Cost the American Taxpayer?

By:: Catherine Brock - MortgageLoan.com | January 18, 2009

It started as a mortgage crisis and blossomed into a global economic recession. Now, the Federal Reserve, U.S. Treasury Department, FDIC, and FHA are putting all the cards on the table to fix it.

What Can We Learn from Japan's

By:: Anders Bylund - MortgageLoan.com | January 17, 2009

Banking disasters in other markets could help us understand the one we have here now.

Government Cutting Mortgage Rates: Is Now the time to Buy or Refinance?

By:: Tom Kerr - MortgageLoan.com | January 16, 2009

Even as the industry pleaded with the government to allow people access to rates of 4.5 percent, the Federal Reserve cut keys rates to almost zero. Now, 30-year fixed rate mortgages are being offered at 4.5 to 5 percent, and it may be time to take advantage and buy or refinance a home.

Positive Mortgage Crisis Side Effect: U.S. Household Debt Declines

By:: Greg Mischio - MortgageLoan.com | January 16, 2009

In the midst of a financial crisis, the likes of which the U.S hasn't seen in more than 50 years, an interesting side effect has taken place: Consumer debt has declined. This trend, startling for a country that has long relied on credit cards, may be an indication of a nationwide shift in spending habits.

Plunging Mortgage Rates Have Lenders Hopping, But Not Celebrating

By:: Bill Rice - MortgageLoan.com | January 16, 2009

As mortgage rates plunge below 5 percent mortgage lenders are being flooded with consumer inquiries about mortgage refinance.

Credit Scores ready for Change

By:: Greg Mischio - MortgageLoan.com | January 15, 2009

Change was promised repeatedly during this year's Presidential campaign. In the land of consumer credit, change is definitely going to occur. In the spring of 2009, two of the three credit bureaus will switch to a new credit score. It's hoped that the change will make a person's FICO score a more accurate assessment of risk.

Bernanke Encourages Return to Original TARP Mandate, Remove Toxic Mortgages

By:: Bill Rice - MortgageLoan.com | January 15, 2009

Two of the Federal Reserves top officials advocated a refocusing on ridding bank balance sheets of toxic mortgage assets. In recent statements, both Federal Reserve Chairman Ben Bernanke and Vice Chairman Donald Kohn highlighted the adverse effects these illiquid mortgage assets are having on the proper functioning of financial institutions and credit markets.

Treasury Gets Free Money: A Good or Bad Thing?

By:: Catherine Brock - MortgageLoan.com | January 15, 2009

At a Treasury auction in early December, investors accepted Treasury rates of zero percent on four-week T-bills. While this is a positive development with respect to the cost of government debt, it might foreshadow the bursting of another bubble.

FHLB Running Short on Capital, Bad Mortgage Debt Cited

By:: Bill Rice - MortgageLoan.com | January 14, 2009

Another government supported mortgage mortgage agency is in trouble. The Federal Home Loan Bank (FHLB) of Seattle joins the San Francisco FHLB in announcing steps to shore up their capital reserves against toxic residential mortgage assets.

Tax Break for Refinancing or Selling Home

By:: Catherine Brock - MortgageLoan.com | January 14, 2009

A tax lien can be a major roadblock during a property sale or mortgage refinance. The IRS has initiated a program to ease this process, thus helping some homeowners save their homes or otherwise avert financial disaster.

Can a $1 Trillion Budget Deficit be a Positive Event?

By:: Catherine Brock - MortgageLoan.com | January 14, 2009

The federal debt has already surpassed $10 trillion, and current estimates indicate that this fiscal year's budget deficit could exceed $1 trillion. Strangely enough, even conservative-minded economists aren't balking at the spending, even though it's likely to lead to more government borrowing.

Mortgage Rates Continue to Decline

By:: Bill Rice - MortgageLoan.com | January 14, 2009

Mortgage rates continue to decline on worsening economic outlook.

Washington's Consumer Advocate: The FDIC's Sheila Bair

By:: Tom Kerr - MortgageLoan.com | January 13, 2009

FDIC head Sheila Bair is inspiring some of her fans to say that she's the only consumer advocate on Capitol Hill. Bair has been aggressive about loan modification strategies as a foreclosure prevention plan to help the average homeowner. But she's not liked by everyone.

2005 Bankruptcy Law Linked to Mortgage Crisis

By:: Bill Rice - MortgageLoan.com | January 13, 2009

Debate continues on efforts to give Federal bankruptcy judges the power to modify mortgage loans. Heralded as a way to deliver relief directly to distressed homeowners, new academic studies are cautioning hasty bankruptcy reform.

Obama Embracing Treasury Plan to Drive Down Mortgage Rates

By:: Catherine Brock - MortgageLoan.com | January 13, 2009

There may soon be a new chapter added to the Obama economic plan; advisors are hammering out the details of a strategy to lower mortgage rates dramatically. The plan's target mortgage rates are expected to be well below 5 percent.

Helping Homeowners Refinance Mortgages takes Government Spotlight

By:: Catherine Brock - MortgageLoan.com | January 12, 2009

The foreclosure problem has stymied the feds. Treasury and Federal Reserve officials are now considering programs that would provide direct help to at-risk homeowners, as other foreclosure prevention efforts have failed to produce results.

Mortgage Rates, Look for Upward Pressure

By:: Bill Rice - MortgageLoan.com | January 12, 2009

Mortgage rates are opening the day slightly up.

Loan Modification Obstacles: Home Equity Loans

By:: Tom Kerr - MortgageLoan.com | January 12, 2009

Home equity loans enjoyed popularity before the housing bubble burst, as Americans tapped their home equity and spent it like it was going out of style. But now, those same home equity loans are a big problem for people who want to do loan modifications to avoid foreclosure.

US Housing Market Full of Opportunity for Home Buyers

By:: Bill Rice - MortgageLoan.com | January 12, 2009

While the TV talking heads continue to despair about a failing economy, home buyers can grab a great deal on a new home.

Mortgage Crisis Silver Lining: Home Improvement

By:: Greg Mischio - MortgageLoan.com | January 11, 2009

The storm clouds over the housing market have a silver lining: Now's a great time to renovate your home. Instead of rushing out to get a home equity loan, however, consider the new trend in home improvement projects-paying cash.

Mutual Funds: Financial Crisis Victims

By:: Anders Bylund - MortgageLoan.com | January 10, 2009

When nobody trusts the stock market, good sense flies out the window. Even a small financial crisis can throw the market into fits of unreasonable up and down swings. A large one, like the great panic of 2008, can throw the safest of investments under the bus.

Federal Reserve Support for Expanded FHA Mortgage Lending

By:: Bill Rice - MortgageLoan.com | January 09, 2009

In remarks made to the Boston Mortgage Banker Association, Boston Federal Reserve Bank President Eric Rosengren advocated the expansion of Federal Housing Administration (FHA) lending programs. His statement argued that stabilizing to the US housing market needs to start at the bottom.

Mortgage Rates and Jobs Market

By:: Bill Rice - MortgageLoan.com | January 09, 2009

Wall Street is awaiting with fearful anticipation for the December jobless claims number this morning.

Is Economy Headed for a Depression?

By:: Catherine Brock - MortgageLoan.com | January 09, 2009

The U.S. is in a recession, and some predict that it will turn into the next Great Depression. Before you get worried, however, remember the protections you have now that weren't available in the 1930s.

Timing is Right for First Time Homebuyers First Mortgage

By:: Greg Mischio - MortgageLoan.com | January 09, 2009

If you're a first time homebuyer, you're probably wishing for a crystal ball. In the slumping home market, it's hard to know if you should make that mortgage loan purchase on a new house. Mortgage rates are low, and could possibly get lower. Is this the right time to buy?

Little Noise, Big Results: Successful Bailout Programs

By:: Tom Kerr - MortgageLoan.com | January 08, 2009

The public is focused on the Big Three auto companies and the controversial $700 billion Treasury bailout plan. Meanwhile, boring things, such as initiatives to financially support commercial paper, are actually making the most progress toward fixing our economy.

Is Now the Time for a Mortgage Loan Refinance?

By:: Catherine Brock - MortgageLoan.com | January 08, 2009

Mortgage rates have fallen recently on the news of greater federal foreclosure prevention efforts. If you want to achieve lower monthly expenses, now's the time to evaluate the savings you might realize with a mortgage loan refinance.

Paulson Officially Turns Over the Mortgage Crisis to Obama

By:: Bill Rice - MortgageLoan.com | January 08, 2009

In a Wednesday statement, outgoing US Treasury Secretary Henry Paulson pointed to President-elect Barack Obama as the "decision maker" for the allocation of the balance of $700 billion in TARP bailout funds.

Mortgage Rates Hit 5.0%

By:: Bill Rice - MortgageLoan.com | January 08, 2009

According to the MortgageLoan survey of 30-year fixed-rate mortgage rates we are headed below 5 percent.

Mortgage Bankruptcy Bill Re-Introduced

By:: Bill Rice - MortgageLoan.com | January 07, 2009

A controversial mortgage aid bill returns for lawmakers consideration. First introduced in 2007, Senator Richard Durbin (D-IL) and Representative Brad Miller (D-NC) have re-introduced the Democratic plan to change bankruptcy law. The plan would give judges the authority to adjust the terms of primary, or first mortgages.

Are Home Equity Loans Good Options for Debt Consolidation?

By:: Greg Mischio - MortgageLoan.com | January 07, 2009

To consolidate debt or not to consolidate debt used to be a foregone conclusion. When housing prices were rising and home equity was plentiful, debt consolidation via a home equity loan was a no-brainer. Today's plummeting market, however, has changed the playing field.

Mortgage Rates Expected to Hold

By:: Bill Rice - MortgageLoan.com | January 07, 2009

Already at historic lows, mortgage rates are expected to stay flat today.

Getting the Economy Back on Track

By:: Catherine Brock - MortgageLoan.com | January 07, 2009

The economy is a mess, and a fast recovery has become little more than a pipe dream. President-elect Barack Obama says his brain trust is working on a recovery plan, but warns that there are no easy solutions.

Are Lower Mortgage Rates Key to Success?

By:: Tom Kerr - MortgageLoan.com | January 06, 2009

To put a floor under home prices, the Treasury may take direct steps to reduce mortgage rates. Doing so could spark a real estate buying spree. On the other hand, it might have no real impact, since rates are already low and people still aren't buying.

Mortgage Fraud on the Rise

By:: Catherine Brock - MortgageLoan.com | January 06, 2009

More mortgage loan applicants are committing mortgage fraud by lying on their applications. Experts say a tight lending environment is to blame.

Fed Begins Buying MBS, Pushing Down Mortgage Rates

By:: Bill Rice - MortgageLoan.com | January 06, 2009

Yesterday the Fed bought their first round of mortgage securities guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. This kicks off the Federal Reserve's plan to buy $500 billion in mortgage-backed securities by mid-2009, right on schedule. One of many historically unique programs to drive down the affordability of home buying and return much needed buyers to the market.

Mortgage Rate Continue Down

By:: Bill Rice - MortgageLoan.com | January 06, 2009

Mortgage rates are trending down this morning. Showing the early effects of Federal Reserve MBS $500 billion buying program, that kicked off yesterday.

Taxpayers and the Bailout: From Gratitude to Rage

By:: Catherine Brock - MortgageLoan.com | January 05, 2009

Love it or hate it, the $700 billion bailout is here to stay. Tempers are flaring on both sides of the issue, as responsible homeowners feel slighted, and at-risk homeowners feel gratitude.

Low Mortgage Rates and Sale of IndyMac Bank Ring in New Year

By:: Bill Rice - MortgageLoan.com | January 05, 2009

In a mortgage market clamoring for good news, homeowners and investors get a couple of silver linings to kick off 2009.

Mortgage Rates-Headed for 4.5 percent?

By:: Bill Rice - MortgageLoan.com | January 05, 2009

Mortgage rates remain a historic lows. 30-year fixed-rate mortgages continued to hold a steady baseline around 5 percent through the lightly traded holiday season.

Upward Trend: Mortgage Loan Delinquencies and Foreclosures

By:: Tom Kerr - MortgageLoan.com | January 04, 2009

Delinquencies and defaults on mortgage loans, as well as foreclosures on homes, are soaring, despite the well-advertised efforts of politicians and economists. New waves of foreclosures and delinquencies could be up ahead, too, as the recession continues.

Risky Business-Expanding FHA Guidelines

By:: Tom Kerr - MortgageLoan.com | January 03, 2009

The FHA is enjoying a surge of popularity for its insured loans, but part of the reason is that it has relaxed its guidelines to appease bankers. Making risky loans backed by paltry amounts of home equity increases the risk to both the FHA and the American taxpayer.

Obama to Cut Wasteful Spending

By:: Catherine Brock - MortgageLoan.com | January 02, 2009

Faced with a rising deficit and a sour economy, President-elect Obama vows to make tough budget choices down the road.

Understanding Mortgage Rates by Understanding Bonds

By:: Catherine Brock - MortgageLoan.com | January 02, 2009

A look at the bond market provides insight into what moves mortgage rates up and down.

Could 2009 Give Us an Economic Recovery?

By:: Bill Rice - MortgageLoan.com | January 01, 2009

In the closing days of 2008, a year fraught with economic turmoil, there are enormous efforts to make 2009 a year of recovery. Is there reason for hope?

Home Prices Continue their Downward Trend

By:: Catherine Brock - MortgageLoan.com | January 01, 2009

Housing prices are still being pressured downward by foreclosure and unemployment trends.