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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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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).

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.

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?

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.

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.

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).

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.

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.