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"Walkable" Communities Said to Have Higher Property Values

By:: Kara Johnson - MortgageLoan.com | August 31, 2009

Communities with walkable neighborhoods command higher home prices than similar properties where a car is required for getting around, according to a recent study of 15 major urban areas.

New Consumer Mortgage Protections Due Soon

By:: Kirk Haverkamp - MortgageLoan.com | August 31, 2009

Mortgage rules are about to change, with new consumer protections going into effect on Oct. 1.

Consumer Spending Up Slightly

By:: Peter King - MortgageLoan.com | August 28, 2009

Consumer spending rose 0.2 percent in July, increasing for the third month in a row, although at a lower rate than the month before, the Commerce Department reported today.

Timing the Housing Market?

By:: Peter King - MortgageLoan.com | August 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.

Mortgage Rates Largely Unchanged This Week

By:: Kara Johnson - MortgageLoan.com | August 27, 2009

Mortgage rates remained essentially unchanged this past week, rising only by the smallest of margins, according to two of the nation's leading rate surveys.

New Home Sales Increase for Fourth Straight Month

By:: Peter King - MortgageLoan.com | August 26, 2009

Sales of newly constructed single-family homes rose for the fourth month in a row in July, increasing almost 10 percent to a seasonally adjusted annual rate of 433,000 units.

New Fannie Mae Rules to Affect Mortages, Refinancing

By:: Kara Johnson - MortgageLoan.com | August 26, 2009

Though it hasn't attracted much attention, Fannie Mae has issued new lending guidelines effective Sept. 1 that will significantly influence how home mortgages are written.

Home Prices Up Nearly 3 Percent in Second Quarter

By:: Kirk Haverkamp - MortgageLoan.com | August 25, 2009

U.S. home prices rose nearly 3 percent in the second quarter of the year, the first quarterly gain in housing prices in nearly three years, according to the latest Standard & Poor's/Case-Shilling Home Price Index.

New Credit Rating Formula Taking Effect

By:: Kara Johnson - MortgageLoan.com | August 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.

Indianapolis Continues to Lead Nation in Housing Affordability

By:: Peter King - MortgageLoan.com | August 24, 2009

Indianapolis continues to lead the nation in home affordability among major cities, with nearly 95 percent of all homes affordable by a family earning the area's median income.

Should You Use a Home Equity Loan to Pay Off Credit Cards?

By:: Kirk Haverkamp - MortgageLoan.com | August 24, 2009

With credit card interest rates rising right through the roof, some homeowners may be wondering whether a home equity loan or line of credit (HELOC) is the way to get their debts under control. The answer is a definite maybe.

Long-term Affordability in a Loan Modification

By:: Peter King - MortgageLoan.com | August 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.

Home Sales Post Biggest Increase in 10 Years

By:: Kirk Haverkamp - MortgageLoan.com | August 21, 2009

Sales of existing homes rose sharply in July, rising 7.2 percent in the biggest monthly increase in at least 10 years, according to figures released today by the National Association of Realtors (NAR).

Can Bankruptcy Help You Avoid Foreclosure?

By:: Kara Johnson - MortgageLoan.com | August 20, 2009

So you're in default on your mortgage. You've several months behind on your payments. You've tried and failed to get a loan modification and work out a repayment schedule, and foreclosure is looming. Should you consider declaring bankruptcy?

Mortgage Rates Drop to Lowest Level in Three Months

By:: Kirk Haverkamp - MortgageLoan.com | August 20, 2009

Average 30-year mortgage rates dropped to their lowest level in nearly three months this past week, falling to 5.12 percent in the weekly Freddie Mac mortgage rate survey released this morning.

Time Running Out on $8,000 Tax Credit

By:: Peter King - MortgageLoan.com | August 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.

Homeowners Optimism Over Housing Prices Increases

By:: Peter King - MortgageLoan.com | August 19, 2009

U.S. homeowners are increasingly optimistic about their future home values, even though they continue to overestimate just how well those values have been holding up in the current downturn, according to a new report.

Single Family Construction Permits Rise

By:: Kara Johnson - MortgageLoan.com | August 18, 2009

Construction permits for single-family homes rose again in July, increasing 5.8 percent to an annualized rate of 458,000, according to figures released today by the Commerce Department.

Pace of Mortgage Delinquencies Slows

By:: Kara Johnson - MortgageLoan.com | August 17, 2009

Mortgage loan delinquencies increased for the 10th straight quarter from April to June, hitting an all-time high of 5.81 percent of all home loans. However, the rate of increase slowed for the first time since the recession began, suggesting that the mortgage market may be stabilizing, according to the credit reporting company Transunion, which released the report.

New Credit Card Rules Could Bring Higher Fees

By:: Peter King - MortgageLoan.com | August 17, 2009

New credit card rules are taking effect this week - which for consumers, could be a mixed blessing.

Refinancing a Mortgage With Bad Credit

By:: Kara Johnson - MortgageLoan.com | August 15, 2009

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

More Home Sellers Reducing Asking Price

By:: Peter King - MortgageLoan.com | August 14, 2009

One-quarter of all U.S. homes for sale have seen at least one price reduction since being listed, as more home sellers are forced to readjust their expectations in a declining home market.

Foreclosure Rate Sets New Monthly Record - Again

By:: Peter King - MortgageLoan.com | August 13, 2009

The U.S. foreclosure rate rose 7 percent in July, and set a new record for the third time in five months, according to the foreclosure marketing firm RealtyTrac, in a report released today.

Existing Home Sales Rise

By:: Kara Johnson - MortgageLoan.com | August 12, 2009

Sales of existing homes posted a modest gain in the second quarter of 2009, rising 3.8 percent to an annual rate of 4.76 million units, according to figures released today by the National Association of Realtors.

Buying a Home Through a Short Sale

By:: Peter King - MortgageLoan.com | August 12, 2009

For those looking to pick up a bargain in the current housing market, a short sale may be appealing. But while a short sale can offer significant savings to a savvy and patient homebuyer, it can also be a frustrating and potentially hazardous experience for the unwary.

Productivity Posts Strongest Gain in Six Years

By:: Kirk Haverkamp - MortgageLoan.com | August 11, 2009

U.S. productivity rose at an annual rate of 6.4 percent in the second quarter of the year, the biggest increase in nearly six years, according to figures released this morning by the Labor Department.

New York Offers New Tax Credit for Homebuyers

By:: Kirk Haverkamp - MortgageLoan.com | August 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.

Most Economists Say Recession is Ending

By:: Kara Johnson - MortgageLoan.com | August 10, 2009

Most economists believe the recession is either ending or has already ended, according to a leading survey of private economists released this morning.

Report Predicts Half of Mortgages Underwater by 2011

By:: Peter King - MortgageLoan.com | August 07, 2009

Nearly half of U.S. homeowners with mortgages could soon end up owing more on their loans than their property is worth, according to a new report from Deutsche Bank.

Guide to Real Estate Euphemisms Provides Information and Entertainment

By:: Kara Johnson - MortgageLoan.com | August 07, 2009

So maybe the current low mortgage rates and housing prices have you thinking about buying a home. If you haven't already, you'll quickly find out that part of the challenge is decoding the property descriptions in the real estate listings.

No Consistent Trend in Week's Mortgage Rates

By:: Kara Johnson - MortgageLoan.com | August 06, 2009

Mortgage rates once again posted a mixed performance this past week, with two of the major surveys reporting declines against one that reported an increase.

Avoiding Credit Repair Scams

By:: Kara Johnson - MortgageLoan.com | August 06, 2009

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

Pending Homes Sales Up for Five Straight Months

By:: Kirk Haverkamp - MortgageLoan.com | August 05, 2009

Pending home sales posted their fifth straight monthly increase in June, according to new figures from the National Association of Realtors (NAR), the longest streak of consecutive monthly increases since July 2003.

First Lender Loan Modification Rankings Issued

By:: Peter King - MortgageLoan.com | August 04, 2009

The first "report card" on how well lenders are doing in modifying mortgage loans under the Making Home Affordable Program (MHA) has been released, and there's a big difference between the top and bottom of the class.

Bargaining for a Better Loan Modification

By:: Peter King - MortgageLoan.com | August 04, 2009

Getting a loan modification on your mortgage can be a real challenge. But once the bank says yes and offers to modify the terms of your loan, there's yet another challenge to face - deciding whether to accept the offer or not.

Foreclosures, Delinquencies Exceed Loan Modifications

By:: Kirk Haverkamp - MortgageLoan.com | August 03, 2009

Foreclosures and mortgage loan delinquencies are outpacing loan modifications, despite the Obama administration's efforts to help financially pressed Americans avoid losing their homes.

5 Rules for Mortgage Shopping

By:: Kirk Haverkamp - MortgageLoan.com | August 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?