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

By:

Kirk Haverkamp - MortgageLoan.com | Thu, 11/05/2009

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.

Figuring Out if You Should Refinace Your Mortgage

By:

Kirk Haverkamp - MortgageLoan.com | Sat, 10/31/2009

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.

How Do Loan Modifications, Other Measures Affect Credit?

By:

Kirk Haverkamp - MortgageLoan.com | Tue, 10/27/2009

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.

Looking Out for Reverse Mortgage Rip-Offs

By:

Kirk Haverkamp - MortgageLoan.com | Wed, 10/21/2009

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?

Locking In a Mortgage Interest Rate

By:

Kirk Haverkamp - MortgageLoan.com | Sat, 10/17/2009

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.

Unemployment Insurance Can Cover Your Mortgage Payments

By:

Kirk Haverkamp - MortgageLoan.com | Wed, 10/14/2009

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.

Should You Pay Discount Points on Your Mortgage?

By:

Kirk Haverkamp - MortgageLoan.com | Fri, 10/09/2009

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?

Mortgage Pitfalls to Avoid When Buying or Refinancing

By:

Kirk Haverkamp - MortgageLoan.com | Wed, 10/07/2009

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.

Obtaining A Joint Mortgage or Shared Home Ownership

By:

Kirk Haverkamp - MortgageLoan.com | Fri, 10/02/2009

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

The Actual Cost of Getting a Mortgage

By:

Kirk Haverkamp - MortgageLoan.com | Wed, 09/30/2009

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.

Advice for First-Time Homebuyers

By:

Kirk Haverkamp - MortgageLoan.com | Sat, 09/26/2009

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.

125 Percent Refinance May Present Challenges

By:

Kirk Haverkamp - MortgageLoan.com | Wed, 09/23/2009

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.

Secondary Mortgage vs.Home Equity Line of Credit

By:

Kirk Haverkamp - MortgageLoan.com | Sat, 09/19/2009

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.

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

By:

Kirk Haverkamp - MortgageLoan.com | Wed, 09/16/2009

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?

What Does It Cost to Refinance A Mortgage?

By:

Kirk Haverkamp - MortgageLoan.com | Fri, 09/11/2009

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?

Small Down Payment Boosts Popularity of FHA Mortgage

By:

Kirk Haverkamp - MortgageLoan.com | Wed, 09/09/2009

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.

Can You Save Money With a Bi-Weekly Mortgage?

By:

Kirk Haverkamp - MortgageLoan.com | Fri, 09/04/2009

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?

Home Prices May Not Always Follow Housing Supply

By:

Kirk Haverkamp - MortgageLoan.com | Tue, 09/01/2009

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.

Timing the Housing Market?

By:

Kirk Haverkamp - MortgageLoan.com | Fri, 08/28/2009

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.

New Credit Rating Formula Taking Effect

By:

Kirk Haverkamp - MortgageLoan.com | Tue, 08/25/2009

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.

Long-term Affordability in a Loan Modification

By:

Kirk Haverkamp - MortgageLoan.com | Fri, 08/21/2009

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.

Time Running Out on $8,000 Tax Credit

By:

Kirk Haverkamp - MortgageLoan.com | Wed, 08/19/2009

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.

Refinancing a Mortgage With Bad Credit

By:

Kirk Haverkamp - MortgageLoan.com | Sat, 08/15/2009

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

New York Offers New Tax Credit for Homebuyers

By:

Kirk Haverkamp - MortgageLoan.com | Tue, 08/11/2009

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.

Avoiding Credit Repair Scams

By:

Kirk Haverkamp - MortgageLoan.com | Thu, 08/06/2009

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

5 Rules for Mortgage Shopping

By:

Kirk Haverkamp - MortgageLoan.com | Mon, 08/03/2009

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?

FHA to Begin Offering Makng Home Affordable Loan Modications

By:

Kirk Haverkamp - MortgageLoan.com | Thu, 07/30/2009

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.

New Rules On Appraisals Draw Fire

By:

Kirk Haverkamp - MortgageLoan.com | Tue, 07/28/2009

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.

Avoiding Foreclosure Avoidance Scams

By:

Kirk Haverkamp - MortgageLoan.com | Fri, 07/24/2009

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.

Opportunities and Challenges for Repeat Home Buyers

By:

Kirk Haverkamp - MortgageLoan.com | Wed, 07/22/2009

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.

Freddie Mac Offers Incentives on Foreclosed Homes

By:

Kirk Haverkamp - MortgageLoan.com | Mon, 07/20/2009

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.

Short Sales Can Be an Attractive Alternative to Foreclosure

By:

Kirk Haverkamp - MortgageLoan.com | Thu, 07/16/2009

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.

Quickly Raising Money for a Down Payment

By:

Kirk Haverkamp - MortgageLoan.com | Mon, 07/13/2009

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.

GAO Highlights Problems with Reverse Mortgage Marketing

By:

Kirk Haverkamp - MortgageLoan.com | Thu, 07/09/2009

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.

Home Prices Predicted to Keep Dropping

By:

Kirk Haverkamp - MortgageLoan.com | Tue, 07/07/2009

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.

Improving Your Credit Score

By:

Kirk Haverkamp - MortgageLoan.com | Fri, 07/03/2009

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.

Series of Workshops to Promote Loan Modifications

By:

Kirk Haverkamp - MortgageLoan.com | Tue, 06/30/2009

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.

Advantages and Disadvantages of a 15-Year Mortgage

By:

Kirk Haverkamp - MortgageLoan.com | Fri, 06/26/2009

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.

Credit Counselors See Progress on Making Home Affordable

By:

Kirk Haverkamp - MortgageLoan.com | Wed, 06/24/2009

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.

Many Homeowners Fail to Seek Foreclosure Avoidance Help

By:

Kirk Haverkamp - MortgageLoan.com | Mon, 06/22/2009

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.

What Fees Will You Pay to Refinance Your Mortgage?

By:

Kirk Haverkamp - MortgageLoan.com | Wed, 06/17/2009

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.

Inside the New Mortgage Anti-Predatory Law

By:

Tom Kerr - MortgageLoan.com | Mon, 06/15/2009

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.

Top Questions for your Mortgage Broker or Lender

By:

Greg Mischio - MortgageLoan.com | Sat, 06/13/2009

Are you shopping for a mortgage refinance? Or is "buying home" at the top of your to-do list? In either case, you'll want to ask a mortgage broker or lender some important questions during a mortgage interview. Here is a list of several key questions to get the ball rolling.

Buying a Second Home becomes more Challenging

By:

Tom Kerr - MortgageLoan.com | Thu, 06/11/2009

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.

Selling a Vacation Home

By:

Catherine Brock - MortgageLoan.com | Tue, 06/09/2009

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

Don't Use Home Equity like an ATM

By:

Greg Mischio - MortgageLoan.com | Sun, 06/07/2009

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.

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

By:

Catherine Brock - MortgageLoan.com | Fri, 06/05/2009

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.

Lower your Expenses: Refinance your Mortgage

By:

Catherine Brock - MortgageLoan.com | Wed, 06/03/2009

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

Mortgage Refinance Surge causes Surge in Lending Jobs

By:

Catherine Brock - MortgageLoan.com | Mon, 06/01/2009

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

Mortgages and Obama's First 100 Days

By:

Tom Kerr - MortgageLoan.com | Sat, 05/30/2009

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.

Mortgage Refinance Success: Improve Credit Score

By:

Greg Mischio - MortgageLoan.com | Thu, 05/28/2009

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.

Finding Help if You Owe More Than Your Home is Worth

By:

Catherine Brock - MortgageLoan.com | Tue, 05/26/2009

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

Dangers of Walking Away from your Mortgage

By:

Tom Kerr - MortgageLoan.com | Sun, 05/24/2009

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.

Steer Clear of Mortgage Rescue Scams

By:

Catherine Brock - MortgageLoan.com | Fri, 05/22/2009

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

Getting the Lowest Rate on your Mortgage Loan

By:

Catherine Brock - MortgageLoan.com | Wed, 05/20/2009

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

Understanding Private Mortgage Insurance

By:

Catherine Brock - MortgageLoan.com | Mon, 05/18/2009

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


Mortgage Fraud Prevention a Top Government Priority

By:

Tom Kerr - MortgageLoan.com | Sat, 05/16/2009

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.

First-time Homebuyers Reaping Rewards from Economic Crisis

By:

Tom Kerr - MortgageLoan.com | Thu, 05/14/2009

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.

Getting the Point of Mortgage Points

By:

Catherine Brock - MortgageLoan.com | Tue, 05/12/2009

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

FHA Mortgages: Trouble Ahead for HUD? 

By:

Catherine Brock - MortgageLoan.com | Sun, 05/10/2009

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. 


First Time Homebuyers Back in Action

By:

Greg Mischio - MortgageLoan.com | Fri, 05/08/2009

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.

Mortgage Originations Ready to Explode

By:

Tom Kerr - MortgageLoan.com | Wed, 05/06/2009

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.

Which Mortgage for You? FHA Loan or Conventional Mortgage?

By:

Tom Kerr - MortgageLoan.com | Mon, 05/04/2009

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.

Mortgage Protection for the Unemployed

By:

Catherine Brock - MortgageLoan.com | Sat, 05/02/2009

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

Home Remodeling Booming Despite Troubled Economy

By:

Greg Mischio - MortgageLoan.com | Thu, 04/30/2009

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.

Tougher Standards for Mortgage Refinance

By:

Tom Kerr - MortgageLoan.com | Tue, 04/28/2009

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.

Jumbo Mortgages making a Comeback

By:

Tom Kerr - MortgageLoan.com | Sun, 04/26/2009

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.

New Government Website Helps Troubled Homeowners

By:

Catherine Brock - MortgageLoan.com | Fri, 04/24/2009

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


Congress Ponders Tougher Rules for Credit Card Companies

By:

Catherine Brock - MortgageLoan.com | Wed, 04/22/2009

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.

Condo Owners may be Denied Mortgage Financing

By:

Catherine Brock - MortgageLoan.com | Mon, 04/20/2009

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.

FHA Mortgages Experiencing Instant Defaults

By:

Tom Kerr - MortgageLoan.com | Sat, 04/18/2009

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. 


Non-profit Group Hits Road for Foreclosure Prevention

By:

Catherine Brock - MortgageLoan.com | Thu, 04/16/2009

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. 


Mortgage Refinance Fees on the Rise

By:

Tom Kerr - MortgageLoan.com | Tue, 04/14/2009

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.

Good Time to Buy for First Time Homebuyers

By:

Catherine Brock - MortgageLoan.com | Sun, 04/12/2009

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. 


Beware of Loan Modification Companies

By:

Catherine Brock - MortgageLoan.com | Fri, 04/10/2009

Most companies that promise to help homeowners renegotiate mortgages aren't selling anything but pipe dreams.

Second Mortgage May Block Mortgage Refinance

By:

Catherine Brock - MortgageLoan.com | Wed, 04/08/2009

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.

Negative Home Equity Growing Rapidly

By:

Tom Kerr - MortgageLoan.com | Mon, 04/06/2009

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.

Government Tries to Drive Down Mortgage Rates

By:

Tom Kerr - MortgageLoan.com | Sat, 04/04/2009

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.


Former Bank Executives Profit from Mortgage Mess

By:

Catherine Brock - MortgageLoan.com | Thu, 04/02/2009

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.

Bad Credit? Try an FHA Mortgage

By:

Catherine Brock - MortgageLoan.com | Wed, 04/01/2009

Poor credit borrowers don't have the subprime option anymore, but FHA loans are often a better fit anyway.

Tips for Job Search in a Tight Market

By:

Greg Mischio - MortgageLoan.com | Mon, 03/30/2009

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.

Making the Economic Stimulus Package Work for You

By:

Catherine Brock - MortgageLoan.com | Sat, 03/28/2009

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.

Get your 2008 Taxes Right

By:

Catherine Brock - MortgageLoan.com | Thu, 03/26/2009

Figuring your income taxes may be more complicated this year. Do you know which tax changes will apply to your returns?

Mortgage Refinance Strategies during Mortgage Crisis

By:

Catherine Brock - MortgageLoan.com | Tue, 03/24/2009

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.

Loan Modification: Identifying what Works

By:

Tom Kerr - MortgageLoan.com | Sun, 03/22/2009

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. 


Why Can't I Get a Mortgage? 

By:

Catherine Brock - MortgageLoan.com | Fri, 03/20/2009

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.

Six Tips to Identify a Predatory Lender

By:

Greg Mischio - MortgageLoan.com | Wed, 03/18/2009

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 Loan Modifications Critical to Obama Rescue Plan

By:

Catherine Brock - MortgageLoan.com | Mon, 03/16/2009

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.

Homebuyers: Let Government Pay 10 Percent of Your New Mortgage!

By:

Catherine Brock - MortgageLoan.com | Sat, 03/14/2009

New mortgage borrowers can save as much as 10 percent on their home purchase, just for buying their first home in 2009.

Builders, Consumers Eye Slow 2009 Housing Market

By:

Tom Kerr - MortgageLoan.com | Thu, 03/12/2009

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.

U.S. Treasury Helps Shore-up Student Loans

By:

Greg Mischio - MortgageLoan.com | Tue, 03/10/2009

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.

Could a Mortgage Holiday be Key to Saving Economy?

By:

Catherine Brock - MortgageLoan.com | Sun, 03/08/2009

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?

Mortgage Brokers Losing Lending Options

By:

Tom Kerr - MortgageLoan.com | Fri, 03/06/2009

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.

Republicans Move to Fix Mortgage Crisis

By:

Catherine Brock - MortgageLoan.com | Wed, 03/04/2009

Partisan battles over the economic stimulus plan continue, as Republicans try in vain to push mortgage rates down with government subsidies.

Protecting the Middle-Class from Dreaded AMT Tax

By:

Catherine Brock - MortgageLoan.com | Mon, 03/02/2009

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 Crisis a Boon for Community Banks

By:

Catherine Brock - MortgageLoan.com | Sat, 02/28/2009

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.

Falling Home Prices Impacts more than Home Equity

By:

Catherine Brock - MortgageLoan.com | Thu, 02/26/2009

The impact of falling home prices on home equity values has been well documented; but now, other areas are being affected, as well.

Mortgage Meltdown and Bankruptcy Laws

By:

Catherine Brock - MortgageLoan.com | Tue, 02/24/2009

Lawmakers want to change bankruptcy laws to fix the mortgage market. Could that change backfire and create a new mortgage meltdown?

Economic Recovery's Future: Obama, Congress, and TARP

By:

Catherine Brock - MortgageLoan.com | Sun, 02/22/2009

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.

Bankruptcy Becoming a Desirable Solution

By:

Greg Mischio - MortgageLoan.com | Fri, 02/20/2009

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.

Bernanke's Plan: Return to Original TARP Strategy

By:

Tom Kerr - MortgageLoan.com | Wed, 02/18/2009

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.

Breaking New Records: Home Equity Delinquencies

By:

Catherine Brock - MortgageLoan.com | Mon, 02/16/2009

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.

Citigroup to Support Bankruptcy Loan Modifications

By:

Catherine Brock - MortgageLoan.com | Sat, 02/14/2009

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.

Mortgage Fraud's New Target: Loan Modifications

By:

Catherine Brock - MortgageLoan.com | Thu, 02/12/2009

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.

Credit Card Changes Hurting Customers

By:

Greg Mischio - MortgageLoan.com | Tue, 02/10/2009

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.

Credit Score More Important than Ever Before

By:

Catherine Brock - MortgageLoan.com | Sun, 02/08/2009

Lenders, particularly credit card issuers, are watching your credit scores more closely than ever.

Mortgage Refinance Boom

By:

Catherine Brock - MortgageLoan.com | Fri, 02/06/2009

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 Prices: Stabilizing or Rising?

By:

Tom Kerr - MortgageLoan.com | Wed, 02/04/2009

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.

Mortgage Loan Modifications Prove Challenging for Homeowners

By:

Catherine Brock - MortgageLoan.com | Mon, 02/02/2009

Mortgage loan modifications haven't yet gained enough traction to slow down the foreclosure crisis-and one consumer group explains why.

Financial Misery Loves Company: Student Loan Defaults on Rise

By:

Catherine Brock - MortgageLoan.com | Sat, 01/31/2009

Recessionary economic conditions and a poor job market are working against college grads who have high balances on education loans.

Debt Concepts Confuse too many Americans

By:

Catherine Brock - MortgageLoan.com | Thu, 01/29/2009

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.

State Deficits Leading to Tax Hikes

By:

Catherine Brock - MortgageLoan.com | Tue, 01/27/2009

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.

American Home Values Heading into Deeper Waters

By:

Catherine Brock - MortgageLoan.com | Sun, 01/25/2009

Home values are still sliding, and the trend is sending more and more homeowners into negative home equity territory.

Credit Card Changes to Help Consumers

By:

Greg Mischio - MortgageLoan.com | Fri, 01/23/2009

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.

America's New Savings Plan: Mortgage Refinance

By:

Catherine Brock - MortgageLoan.com | Wed, 01/21/2009

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.

Second Wave of Mortgage Crisis to Begin

By:

Tom Kerr - MortgageLoan.com | Tue, 01/20/2009

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.

Is Home Equity Wiped Out for the Long Run?

By:

Catherine Brock - MortgageLoan.com | Mon, 01/19/2009

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.

What Can We Learn from Japan's

By:

Anders Bylund - MortgageLoan.com | Sat, 01/17/2009

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 | Fri, 01/16/2009

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.

Credit Scores ready for Change

By:

Greg Mischio - MortgageLoan.com | Thu, 01/15/2009

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.

Tax Break for Refinancing or Selling Home

By:

Catherine Brock - MortgageLoan.com | Wed, 01/14/2009

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.

Washington's Consumer Advocate: The FDIC's Sheila Bair

By:

Tom Kerr - MortgageLoan.com | Tue, 01/13/2009

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.

Helping Homeowners Refinance Mortgages takes Government Spotlight

By:

Catherine Brock - MortgageLoan.com | Mon, 01/12/2009

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.

Mutual Funds: Financial Crisis Victims

By:

Anders Bylund - MortgageLoan.com | Sat, 01/10/2009

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.

Timing is Right for First Time Homebuyers First Mortgage

By:

Greg Mischio - MortgageLoan.com | Fri, 01/09/2009

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?

Is Now the Time for a Mortgage Loan Refinance?

By:

Catherine Brock - MortgageLoan.com | Thu, 01/08/2009

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.

Getting the Economy Back on Track

By:

Catherine Brock - MortgageLoan.com | Wed, 01/07/2009

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.

Mortgage Fraud on the Rise

By:

Catherine Brock - MortgageLoan.com | Tue, 01/06/2009

More mortgage loan applicants are committing mortgage fraud by lying on their applications. Experts say a tight lending environment is to blame.

Upward Trend: Mortgage Loan Delinquencies and Foreclosures

By:

Tom Kerr - MortgageLoan.com | Sun, 01/04/2009

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.

Understanding Mortgage Rates by Understanding Bonds

By:

Catherine Brock - MortgageLoan.com | Fri, 01/02/2009

A look at the bond market provides insight into what moves mortgage rates up and down.