Articles by Subject

Mortgage Rates Continue to Rise

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

Mortgage interest rates continued to climb this last week, rising nearly one-tenth a percent in the current Freddie Mac weekly survey, released today.

Florida Supreme Court Orders Foreclosure Mediation Process

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

Florida homeowners faced with losing their homes are now entitled to undergo mediation before a foreclosure is finalized, the state’s Supreme Court has ordered.

Home Prices Remain Flat: Case-Shiller

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

Raw U.S. home prices were unchanged in October, but posted a moderate increase on a seasonally adjusted basis, according to a leading market survey released today.

Are There Any Downsides to a Loan Modification?

By:
Peter King - MortgageLoan.com | December 29, 2009

The combination of falling incomes and home values has many homeowners seeking loan modifications to lower their monthly mortgage payments. And while saving money is always a good thing, some may wonder – are there any downsides to getting a loan modification?

Treasury Expands Support for Fannie, Freddie

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

The U.S. Treasury Department will provide nearly unlimited support for Fannie Mae and Freddie Mac over the next three years to ensure the viability of the two major mortgage financiers.

Mortgage Rates Go Back Above 5 Percent

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

Interest rates on standard 30-year mortgages rose above the 5 percent mark for the first time in eight weeks, according to the weekly Freddie Mac survey released today.

A Simple Interest Mortgage Can Cost You

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

One of the small pitfalls to look out for when shopping for a mortgage has to do with simple interest vs. a standard mortgage. Although the term “simple interest” sounds harmless, it can cost you money if you’re not careful.

Existing Home Sales Continue to Rise

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

Existing home sales rose again in November, but prices remained stagnant despite a dwindling inventory of available properties, according to new data from the National Association of Realtors (NAR).

Getting the Best Return on Home Improvement Projects

By:
Kirk Haverkamp - MortgageLoan.com | December 22, 2009

Thinking about doing some home renovations? Wondering which projects will give you the best return on your money?

Early Loan Modification Redefaults Fall in Third Quarter

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

Foreclosure avoidance actions by mortgage lenders and servicers were up sharply in the third quarter of the year, while redefault rates on newly modified loans fell, according to new government figures out this week.

Online Application to Streamline Loan Modification Process

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

A new online service to help homeowners submit and track the documents needed for a government-backed mortgage loan modification has been launched by HOPE NOW, a coalition of mortgage companies and credit counseling agencies.

Fannie, Freddy, Citi Suspend Evictions

By:
Peter King - MortgageLoan.com | December 18, 2009

Three major lenders have announced that they’re suspending foreclosure evictions over the Christmas season, so foreclosed homeowners won’t have to leave their homes until after the holidays.

Are There Any Downsides to Refinancing Your Mortgage?

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

There are a lot of advantages to refinancing your mortgage. But what about the downsides? Are there any disadvantages borrowers need to be aware of before taking out that new loan?

Interest in Buying Foreclosures Drops

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

Consumer interest in buying foreclosed properties is declining, even as large numbers of foreclosed homes continue to come onto the market. 

New Housing Starts Rebound

By:
Kirk Haverkamp - MortgageLoan.com | December 16, 2009

New housing starts rebounded in November, increasing 8.9 percent to an annual rate of 574,000 units, according to figures released today by the Commerce Department.

Home Equity Loans Making a Comeback

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

Home equity loans, which practically disappeared over the past year following the collapse of the housing market, are making a bit of a comeback.

Industrial Production Rises Again

By:
Kirk Haverkamp - MortgageLoan.com | December 15, 2009

U.S. industrial production picked up 0.8 percent in November, marking five consecutive months without a decline and raising hopes that the economy is truly on the mend.

House Approves Creation of Consumer Protection Agency

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

Legislation to establish a Consumer Finance Protection Agency to regulate mortgages, credit cards and other consumer lending was passed by the U.S. House on Friday, along with other measures to regulate financial markets.

How Much of a Down Payment Should You Make?

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

How much of a down payment should you make on your mortgage? Though the usual answer is “whatever you can afford,” it’s really not all that simple – though it’s not difficult to figure out. 

Equal Numbers Approved, Rejected for Permanent Loan Mods

By:
Peter King - MortgageLoan.com | December 11, 2009

Nearly as many homeowners are being rejected as are being approved for permanent loan modifications under the government’s main foreclosure prevention program, according to Treasury officials.

Foreclosure Rates Fall Again

By:
Kirk Haverkamp - MortgageLoan.com | December 10, 2009

U.S. foreclosure activity fell for the fourth consecutive month in November but is still expected to set an all-time high for the year, according to new information from the foreclosure data firm RealtyTrac.

Avoiding Mortgage Management Problems

By:
Peter King - MortgageLoan.com | December 10, 2009

How well are you managing your mortgage? It’s an often overlooked aspect of home finance – many borrowers assume that once they sign the loan papers, their only remaining challenge is coming up with the mortgage payment each month. But there’s a lot more to it than that.
 
Having a mortgage is not like paying your cable or electric bill every month. For one thing, it’s much, much bigger – so it has a far greater potential impact on your life. Your cell phone bill you can simply pay and forget each month.

Mortgage Interest Rates Reverse Six-Week Decline

By:
Kara Johnson - MortgageLoan.com | December 09, 2009

Interest rates on 30-year fixed rate mortgages rose last week, breaking a streak of six consecutive weeks of declines, according to figures released today by the Mortgage Bankers Association.
 
The average interest rate on 30-year fixed rate mortgages rose to 4.88 percent with 1.17 points paid, up from 4.77 percent and 1.0 points the week before.

Overcoming Problems With a Trial Loan Modification

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

Are you one of the lucky ones who’s been able to lower your monthly mortgage bills through the government’s Making Home Affordable (MHA) Program? Well, you may not be out of the woods just yet – lenders are reporting that large numbers of borrowers who obtained trial loan modifications under the program are being turned down for permanent status at the end of their trial period.
 
So what’s happening? The lenders point to a variety of reasons.

FDIC May Seek Principal Reductions on At-Risk Mortgages

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

The FDIC may seek to reduce the principal on more than $45 billion in mortgages held by failed banks that it acquired in an effort to help “underwater” homeowners.

One-quarter Reported Delinquent on Trial Loan Mods

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

More than one in four homeowners who obtained trial mortgage loan modifications under the government’s Making Home Affordable Program are already behind on their payments, according to a new information from the Treasury Department.

How Soon Can Your Refinance Your Current Mortgage?

By:
Peter King - MortgageLoan.com | December 05, 2009

How soon can you refinance your mortgage after taking out your existing loan? With interest rates scraping along at historic lows right now, it’s a question many homeowners who bought or refinanced in the last couple years are asking themselves.

Treasury Announces Short Sale Incentive Program

By:
Kirk Haverkamp - MortgageLoan.com | December 04, 2009

As part of its foreclosure prevention efforts, the Obama Administration is launching a new program to encourage short sales and deed-in-lieu of foreclosure transactions for financially pressed homeowners who are unable to obtain loan modifications.

FHA to Raise Lending Requirements for Home Mortgages

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

Getting an FHA home mortgage is about to get more costly and difficult, as regulators take steps to rebuild the federal agency’s shrunken financial reserves and reduce the risk of defaults on FHA-insured mortgages.

Mortgage and Home Ownership Tax Deductions

By:
Peter King - MortgageLoan.com | December 03, 2009

The $8,000 first-time homebuyer tax credit and recently added $6,500 credit for repeat buyers have been getting all the attention. But those are only the beginning of the tax benefits available to those who buy their own homes.

Private Residential Construction Up in October

By:
Kara Johnson - MortgageLoan.com | December 02, 2009

Private residential construction was up in October, following a summer season in which home building rates fell to their lowest levels in 14 years, according to new data from the Commerce Department.

Pending Home Sales Up for 9th Straight Month

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

Pending home sales rose for the ninth consecutive month in October and posted their biggest-ever one-year increase as well, according to figures released today by the National Association of Realtors.

Fannie Mae Gives Homebuyers First Shot at Foreclosures

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

Many potential homebuyers are intrigued by the potential savings to be had in buying foreclosed property. Unfortunately for them, well-funded and market-savvy investors typically swoop in and snap up the plum offerings before the average homebuyer even knows they’re on the market.