Articles by Subject

New Consumer Mortgage Protections Due Soon

By:
Kirk Haverkamp - MortgageLoan.com | Mon, 08/31/2009

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

Timing the Housing Market?

By:
Kirk Haverkamp - MortgageLoan.com | Fri, 08/28/2009

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.

New Fannie Mae Rules to Affect Mortages, Refinancing

By:
Kirk Haverkamp - MortgageLoan.com | Wed, 08/26/2009

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.

New Credit Rating Formula Taking Effect

By:
Kirk Haverkamp - MortgageLoan.com | Tue, 08/25/2009

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.

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

By:
Kirk Haverkamp - MortgageLoan.com | Mon, 08/24/2009

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:
Kirk Haverkamp - MortgageLoan.com | Fri, 08/21/2009

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.

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. You have to get a good one that suits your circumstances.

Can Bankruptcy Help You Avoid Foreclosure?

By:
Kirk Haverkamp - MortgageLoan.com | Thu, 08/20/2009

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?

Time Running Out on $8,000 Tax Credit

By:
Kirk Haverkamp - MortgageLoan.com | Wed, 08/19/2009

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.

New Credit Card Rules Could Bring Higher Fees

By:
Kirk Haverkamp - MortgageLoan.com | Mon, 08/17/2009

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

Refinancing a Mortgage With Bad Credit

By:
Kirk Haverkamp - MortgageLoan.com | Sat, 08/15/2009

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

Buying a Home Through a Short Sale

By:
Kirk Haverkamp - MortgageLoan.com | Wed, 08/12/2009

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.

New York Offers New Tax Credit for Homebuyers

By:
Kirk Haverkamp - MortgageLoan.com | Tue, 08/11/2009

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.

Guide to Real Estate Euphemisms Provides Information and Entertainment

By:
Kirk Haverkamp - MortgageLoan.com | Fri, 08/07/2009

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.

Avoiding Credit Repair Scams

By:
Kirk Haverkamp - MortgageLoan.com | Thu, 08/06/2009

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

Bargaining for a Better Loan Modification

By:
Kirk Haverkamp - MortgageLoan.com | Tue, 08/04/2009

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.

5 Rules for Mortgage Shopping

By:
Kirk Haverkamp - MortgageLoan.com | Mon, 08/03/2009

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?