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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.

Mortgage Crisis Culprit: Affordable Homeownership

By:: Tom Kerr - MortgageLoan.com | Fri, 02/27/2009

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 | 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.

College Financing 2009: Tips for Getting Aid

By:: Catherine Brock - MortgageLoan.com | Wed, 02/25/2009

Stressed out about paying for college this year? Then it's time to brush up on your financial aid know-how.

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?

New Rules to Control Inflated Home Appraisals

By:: Tom Kerr - MortgageLoan.com | Mon, 02/23/2009

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.

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.

Credit Markets Finding New Life

By:: Catherine Brock - MortgageLoan.com | Sat, 02/21/2009

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.

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.

Rethinking your Mutual Fund Investment

By:: Catherine Brock - MortgageLoan.com | Thu, 02/19/2009

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 | 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.

ARM Mortgagees Faced with Refinancing Conundrum

By:: Tom Kerr - MortgageLoan.com | Tue, 02/17/2009

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 | 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.

Credit Versus Debit Cards: Know the Differences

By:: Greg Mischio - MortgageLoan.com | Sun, 02/15/2009

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 | 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.

Low Mortgage Rates may not Last Long

By:: Tom Kerr - MortgageLoan.com | Fri, 02/13/2009

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.

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.

Falling Home Equity: Should You Walk Away?

By:: Catherine Brock - MortgageLoan.com | Wed, 02/11/2009

Voluntary foreclosure may be the next disturbing trend in housing, as homeowners rebel against falling home values and negative home equity.

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.

Bailout Offers Auto Loan Relief

By:: Catherine Brock - MortgageLoan.com | Mon, 02/09/2009

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 | Sun, 02/08/2009

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 | Sat, 02/07/2009

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 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 Equity Borrowers Getting a Break

By:: Catherine Brock - MortgageLoan.com | Thu, 02/05/2009

The prime rate is at its lowest level since 1955, and home equity borrowers are reaping the rewards.

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.

Bottomless Pit: Consumers Falling Deeper into Debt

By:: Catherine Brock - MortgageLoan.com | Tue, 02/03/2009

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.

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.

Freddie Mac Mortgage Portfolio Balloons

By:: Tom Kerr - MortgageLoan.com | Sun, 02/01/2009

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.