Articles by Subject

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.

Can You Get a Mortgage?

By:
Catherine Brock - MortgageLoan.com | Wed, 04/29/2009

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

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.

Be Prepared for a Reverse Mortgage

By:
Greg Mischio - MortgageLoan.com | Mon, 04/27/2009

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.

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.

FHA Tightens Standards for Cash-out Mortgage Refinance

By:
Catherine Brock - MortgageLoan.com | Sat, 04/25/2009

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.

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. 


Reverse Mortgages: Life Rafts or Life Anchors?

By:
Catherine Brock - MortgageLoan.com | Thu, 04/23/2009

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

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.

Affordable Housing Goal Cut to Prevent New Housing Bubble

By:
Catherine Brock - MortgageLoan.com | Tue, 04/21/2009

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.

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.

Mortgage Interest Tax Break at Risk for High-Income Households

By:
Catherine Brock - MortgageLoan.com | Sun, 04/19/2009

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 | 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. 


Do You Qualify for an Obama Mortgage Refinance?

By:
Greg Mischio - MortgageLoan.com | Fri, 04/17/2009

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.

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. 


Reverse Mortgages Help Seniors in a Challenging Economy

By:
Tom Kerr - MortgageLoan.com | Wed, 04/15/2009

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.

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.

Are Mortgage Cramdowns the Answer?

By:
Tom Kerr - MortgageLoan.com | Mon, 04/13/2009

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 | 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. 


Credit Cards Block Mortgage Refinance

By:
Greg Mischio - MortgageLoan.com | Sat, 04/11/2009

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.

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.

Reduce your Housing Costs: Appeal your Property Taxes

By:
Catherine Brock - MortgageLoan.com | Thu, 04/09/2009

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.

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.

Stimulus Bill Increases Reverse Mortgage Limits

By:
Catherine Brock - MortgageLoan.com | Tue, 04/07/2009

The federal government has raised the HECM maximum, which may give seniors access to more cash.

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.

Tips to Understand Obama's Loan Modification Plan

By:
Greg Mischio - MortgageLoan.com | Sun, 04/05/2009

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 | 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.


Is Obama's Loan Modification Program too Complex?

By:
Catherine Brock - MortgageLoan.com | Fri, 04/03/2009

Net present value tests, sticky eligibility requirements, and potential legal challenges make for a complicated loan modification program.

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.

Mortgage Rates Steady

By:
MortgageLoan.com - MortgageLoan.com | Thu, 04/02/2009

The mortgage securities market is off to a negative opening, potentially raising rates slightly.

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.