Articles by Subject

Figuring Out if You Should Refinace Your Mortgage

By:
Peter King - MortgageLoan.com | October 31, 2009

It's not a question with a simple answer. Whether or not refinancing makes sense for you will depend on the type of loan you have, the interest rate you're paying, your credit score, how much equity you have in the home and a variety of other factors. And some of these will determine whether you're even able to refinance in the first place.

Personal Spending Falls Even as GDP Rises

By:
Peter King - MortgageLoan.com | October 30, 2009

Personal incomes and spending fell in September, even as a rise in the gross domestic product has economists declaring that the recession has ended.

Senate Said to Agree on Extending Homebuyer Tax Credit

By:
Kirk Haverkamp - MortgageLoan.com | October 29, 2009

The U.S. Senate has reached broad agreement on a bill to extend the $8,000 first-time homebuyer tax credit and offer a credit to existing homeowners as well, according to numerous media sources.

Rates, Home Prices Make 15-Year Mortgage More Attractive

By:
Kara Johnson - MortgageLoan.com | October 29, 2009

Consider this: right now, you can purchase a home with a 15-year mortgage and end up with a monthly payment that is far less than you would have paid for the same property under a 30-year loan only three years ago. Sound interesting? Read on.

Abusive Credit Card Pratices Increase Despite Law

By:
Kirk Haverkamp - MortgageLoan.com | October 28, 2009

Virtually all credit cards offered online by major banks still include abusive practices that will be outlawed early next year, according to a new report from the Pew Charitable Trust.

How Do Loan Modifications, Other Measures Affect Credit?

By:
Peter King - MortgageLoan.com | October 27, 2009

Probably the most confusion surrounds loan modifications. That's when the lender agrees to modify the terms of your mortgage to make it more affordable or perhaps help you get current again on your loan after a temporary financial difficulty.

Government Mortgage Refinance Program Struggling

By:
Kirk Haverkamp - MortgageLoan.com | October 26, 2009

A government program designed to help at-risk homeowners refinance their mortgages is struggling, even as conventional mortgage refinances have surged in response to historically low interest rates.

Existing Home Sales Up Strongly in September

By:
Peter King - MortgageLoan.com | October 23, 2009

Existing home sales posted a strong increase in September, according to the National Association of Realtors, as first-time homebuyers took advantage of low interest rates and a soon-to-expire $8,000 tax credit.

Existing home sales posted a strong increase in September, according to the National Association of Realtors, as first-time homebuyers took advantage of low interest rates and a soon-to-expire $8,000 tax credit.

Should You Use a Mortgage Broker?

By:
Kirk Haverkamp - MortgageLoan.com | October 23, 2009

One of the questions that pops up when buying a home or refinancing a mortgage is should you use a mortgage broker? A broker can help you find a good deal on home loan and simplify the process of shopping for a mortgage, but often at a higher cost than if you'd obtained the loan yourself. So what to do?

Leading Economic Indicators Up Six Straight Months

By:
Peter King - MortgageLoan.com | October 22, 2009

The Index of Leading Economic Indicators rose again in September, making six straight months the index has risen and providing hope that an economic recovery is in the offing.

Report: Foreclosure More Profitable than Loan Modifications for Servicers

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

The incentives mortgage servicers receive for managing a home loan are a significant obstacle to loan modification that would help financially troubled borrowers avoid foreclosure, according to a new report from the National Consumer Law Center.

Looking Out for Reverse Mortgage Rip-Offs

By:
Peter King - MortgageLoan.com | October 21, 2009

Reverse mortgages can be a godsend for seniors who are short on cash but have equity built up in their homes. Unfortunately, they can also be a way for unscrupulous operators to help themselves to some of the hard-earned cash retirees have built up over their lifetimes. So how to tell the difference between a legitimate financial opportunity and a reverse mortgage scam?

Home Finance Agencies to Get Lending Boost

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

A new program to help low- and moderate-income homebuyers obtain mortgages has been announced by the Obama administration.

Planning for Maintenance Costs When Buying a Home

By:
Kirk Haverkamp - MortgageLoan.com | October 19, 2009

How much will you need to spend on home maintenance? It's a crucial thing to know when figuring out what you can afford when taking out a mortgage to buy a house, but one that many potential homeowners pay shockingly little attention to.

Foreclosures Hitting High-End Homes

By:
Kara Johnson - MortgageLoan.com | October 19, 2009

Thirty percent of U.S. foreclosures are occurring among the top third, an indication that the foreclosure crisis is hitting well-to-do homeowners in almost equal proportion to lower income families.

Locking In a Mortgage Interest Rate

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

Mortgage interest rates are unusually low right now, but it's not certain how long they'll stay that way. So when applying for a mortgage, either to purchase a home or refinance an existing loan, you'll probably want to lock in the rate when you apply.

Mortgage Rates Up Slightly

By:
Kara Johnson - MortgageLoan.com | October 16, 2009

Mortgage rates rose slightly this past week, but still remained under 5 percent for a 30-year fixed rate mortgage, according to the weekly survey by government-backed lender Freddie Mac.

Record Foreclosures in Third Quarter of 2009

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

U.S. foreclosure filings hit an all-time high in the third quarter of the year, according to the foreclosure data firm RealtyTrac, with one home in 136 receiving at least one foreclosure filing during that period.

Calculating How Much Your Home Is Worth

By:
Peter King - MortgageLoan.com | October 15, 2009

How much is your home worth these days? The nationwide decline in home values over the past three years has many people worried about how far "underwater" they might be on their own mortgages, i.e., whether they owe more than their home is worth. It's a particular concern for anyone who's thinking about refinancing their mortgage, but just about anyone with a mortgage is probably concerned as well.

New Retail Sales Figures Seen as Positive Sign

By:
Kara Johnson - MortgageLoan.com | October 14, 2009

Retail sales fell in September, but analysts are still hailing it as a hopeful sign for the economy. That's because nonautomotive sales actually rose for the second straight month and more than analysts expected.

Unemployment Insurance Can Cover Your Mortgage Payments

By:
Kirk Haverkamp - MortgageLoan.com | October 14, 2009

Thinking about buying a home but nervous about doing so in today's economy? Do you already own a home and are worried about what would happen if you lose your job? You may want to consider unemployment mortgage insurance.

Home Prices Down for Second Straight Month: IAS360

By:
Kirk Haverkamp - MortgageLoan.com | October 13, 2009

U.S. home prices fell slightly in August, raising concerns of a new downturn following several months in which the market appeared to be rallying, according to a new report from national foreclosure management company Integrated Asset Services (IAS).

Loan Modification Program Inadequate, Report Says

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

Current government programs to help homeowners keep their homes are inadequate to address a coming wave of foreclosures and will only delay foreclosure for many, according to a new report from the bipartisan Congressional Oversight Panel.

Current government programs to help homeowners keep their homes are inadequate to address a coming wave of foreclosures and will only delay foreclosure for many, according to a new report from the bipartisan Congressional Oversight Panel.

Freddie Mac Closing Cost Assistance Ending

By:
Kirk Haverkamp - MortgageLoan.com | October 12, 2009

Time is rapidly running out on one of the best deals going for homebuyers. No, not the $8,000 first-time homebuyer tax credit - although that's due to expire Nov. 30. A more urgent deadline is the closing cost assistance offered under Freddie Mac's HomeSteps SmartBuy program, which expires at the end of this month.

FHA Won't Need Bailout, Commissioner Says

By:
Kirk Haverkamp - MortgageLoan.com | October 09, 2009

The Federal Housing Administration may be running low on cash, but it won't need a government bailout, FHA Commissioner David Sterns told members of Congress on Thursday.

Should You Pay Discount Points on Your Mortgage?

By:
Peter King - MortgageLoan.com | October 09, 2009

Mortgage interest rates are unusually low right now, close to all-time lows for a 30-year fixed rate loan. So with rates already so low, is it worth paying points to try to get the rate even lower?

Prices Cut On One Listed Home in Four

By:
Peter King - MortgageLoan.com | October 08, 2009

More than one-quarter of all nondistressed homes for sale in the U.S. have seen at least one price cut since going on the market, at an average discount of 10 percent off the listed price, the real estate data firm Trulia Inc. reported today.

ARMs, Interest-Only Loans Still Available

By:
Kara Johnson - MortgageLoan.com | October 08, 2009

If you've been following the mortgage news lately, you might get the impression that it's all but impossible to get anything but a standard fixed-rate mortgage these days. But while it's true that many of the so-called "exotic" mortgages that were popular a few years ago have pretty much disappeared, consumers still have other options besides a "plain vanilla" type mortgage, including ARMs (adjustable rate mortgages) and interest-only loans, to name a couple.

Mortgage Pitfalls to Avoid When Buying or Refinancing

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

Mortgage rates are low, low, low right now - close to all-time minimums. But those low rates can still cost you an awful lot of money if you're not careful to avoid some of the serious mistakes people make on home loans when buying a home or refinancing.

Mortgage Rates Fall Again

By:
Kirk Haverkamp - MortgageLoan.com | October 07, 2009

Mortgage applications surged to their highest level since last spring, as 30-year interest rates remained below 5 percent for the third consecutive week, according to the weekly survey by the Mortgage Bankers Association.

Irate Consumers Cancelling Credit Cards

By:
Kirk Haverkamp - MortgageLoan.com | October 06, 2009

Consumers are becoming increasingly upset with their credit card companies, with about one in six recently closing out at least one card in response to actions taken by their credit card issuers.

Blacks, Hispanics See Increased Mortgage Rejection Rates

By:
Kara Johnson - MortgageLoan.com | October 05, 2009

Black and Hispanic mortgage loan applicants in the United States continued to face higher rejection rates on than whites and Asians last year, according to data released by the Federal Reserve last week.

FHA Adopting New Rules for Condo Mortgages

By:
Kara Johnson - MortgageLoan.com | October 05, 2009

Buying a condo is about to get more complicated, especially if you're thinking about getting an FHA mortgage.

Home Sales Rise, Interest Rates Drop

By:
Kirk Haverkamp - MortgageLoan.com | October 02, 2009

Pending home sales rose for the seventh consecutive month in August, the National Association of Realtors has reported, the longest streak of monthly increases since the organization began reporting data in 2001.

Obtaining A Joint Mortgage or Shared Home Ownership

By:
Peter King - MortgageLoan.com | October 02, 2009

If you're thinking about buying a home, chances are you're not planning to do it by yourself.So how do you go about getting a mortgage or buying a home by two or more people? There are two main ways to do it - either through a joint mortgage or by joint ownership

Foreclosures Up, But New Filings Slow

By:
Kara Johnson - MortgageLoan.com | October 01, 2009

Completed foreclosures rose almost 17 percent in the second quarter of the year, with lenders reclaiming 106,000 properties from U.S. homeowners, according to official government figures released Wednesday.

Six Bad Reasons Not to Seek Foreclosure Assistance

By:
Peter King - MortgageLoan.com | October 01, 2009

With the economy in the shape it is, a lot of people need help in obtaining a loan modification or pursing other steps to avoid foreclosure. But while there are a variety of resources to help at-risk borrowers with their mortgages and hold on to their homes, many of them are too intimidated to take advantage of them.