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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 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.

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.

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.

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.

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).

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.

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.

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.

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.

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.

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.

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.

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.

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.

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?  

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.

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.

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.

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.

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.

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).

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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 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.

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.

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.

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.

Mortgage Rates Flat

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

Mortgage rates began the day with signals of lowering.

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.

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.

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.

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.

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.

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.

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.