Articles by Subject

Home Prices Up, But Trend Uncertain

By:
Peter King - MortgageLoan.com | March 31, 2010

Home prices rose in January, according to a leading survey, although not enough to blunt concerns over signs of renewed weakness in the housing market.

New Rules Taking Effect for FHA Mortgages

By:
Kirk Haverkamp - MortgageLoan.com | March 30, 2010

If you’re thinking about taking out an FHA mortgage to buy or refinance a home, there are some new rules you need to be aware of.

Five More States to Receive Mortgage Assistance

By:
Kara Johnson - MortgageLoan.com | March 30, 2010

The Treasury Department has announced an additional $600 million in aid to help homeowners avoid foreclosure in states that have been hardest hit by the economic downturn.

Consumer Spending Up Five Straight Months

By:
Peter King - MortgageLoan.com | March 29, 2010

Consumer spending rose in February for the fifth consecutive month, though at a somewhat lower rate than in previous months, the Commerce Department reported today.

Should You Pay Off Your Mortgage Early?

By:
Kirk Haverkamp - MortgageLoan.com | March 27, 2010

Should you pay off your mortgage early? If you’ve come through the recent economic crisis in a position to be able to make additional payments on your home loan, this may sound like an attractive option. It’s a safe, conservative financial strategy that many find appealing after being put through the financial wringer the past few years.

Mortgage Assistance for Unemployed Announced

By:
Kara Johnson - MortgageLoan.com | March 26, 2010

The Obama administration today announced new measures to provide mortgage assistance for unemployed homeowners and encourage lenders to reduce principal on “underwater” mortgages when modifying loans for at-risk borrowers.

Is Your Local Real Estate Market Overvalued?

By:
Kara Johnson - MortgageLoan.com | March 26, 2010

Home prices appear to be very attractive right now, after sharp declines following the collapse of the housing bubble. It would seem to be a good time to buy, but what if prices fall still further? Is there a good way to tell if your area is overvalued?

Bank of America to Write Off Principal on Some Mortgages

By:
Kara Johnson - MortgageLoan.com | March 25, 2010

Bank of America (BofA) will forgive up to 30 percent of the balance owed on certain at-risk mortgages as part of its loan modification efforts to assist homeowners in avoiding foreclosure, the bank has announced.

Major Tax Credits and Deductions for Homeowners

By:
Kirk Haverkamp - MortgageLoan.com | March 24, 2010

With tax time approaching, the big mortgage-related issue this year is the homebuyer tax credits. But there are also a lot of other mortgage- and real-estate tax matters to be aware of as well.

New Home Sales Decline Again

By:
Kara Johnson - MortgageLoan.com | March 24, 2010

Sales of new single-family homes fell for the fourth month in a row in February, with the annual rate dropping to an all-time low of 308,000, according to figures released today by the Commerce Department.

Home Sales Down Slightly in February

By:
Peter King - MortgageLoan.com | March 23, 2010

Existing home sales stabilized in February, following two months of steep declines.

Chase Agrees to Modify Second Liens

By:
Kara Johnson - MortgageLoan.com | March 22, 2010

JP Morgan Chase has become the third major lender to announce it will modify second-lien mortgages under the Obama Administration’s Home Affordable Modification Program (HAMP).

Buying a Short Sale About to Get Faster, Easier

By:
Peter King - MortgageLoan.com | March 20, 2010

Looking for a great deal on a home? Buying through a short sale may soon become a lot faster and easier to do, thanks to a new federal program.

Wells Fargo Joins Second Lien Modification Program

By:
Kirk Haverkamp - MortgageLoan.com | March 19, 2010

Wells Fargo has become the second bank to agree to modify second-lien mortgages under the government’s Home Affordable Modification Program (HAMP) providing mortgage relief for at-risk homeowners.

Mortgage Rates Mostly Unchanged

By:
Kirk Haverkamp - MortgageLoan.com | March 18, 2010

Mortgage rates remained stable this past week, posting only slight increases despite the approaching end of the Federal Reserve’s purchases of mortgage securities that have served to keep rates low over the past year.

Pros and Cons of Using a Mortgage Broker

By:
Kirk Haverkamp - MortgageLoan.com | March 18, 2010

Shopping for a mortgage can be an intimidating process. If you think you’d like some help, you might consider going through a mortgage broker.

Walk-Away Foreclosure May Not Eliminate Debt

By:
Kara Johnson - MortgageLoan.com | March 17, 2010

With sharp declines in home values leaving millions of homeowners “underwater” on their mortgages, there is a growing clamor that many such borrowers would be better off to simply walk away and let their property go into foreclosure.

Non-HAMP Loan Mods Hit 100,000 in January

By:
Peter King - MortgageLoan.com | March 17, 2010

Nearly 100,000 homeowners obtained private mortgage loan modifications in January, the HOPE NOW alliance has announced.

Multiunit Housing Starts Down Sharply

By:
Peter King - MortgageLoan.com | March 16, 2010

New housing starts fell 5.9 percent in February, as builders cut way back on initiating construction of apartment buildings and condominium developments.

More Permanent Loan Modifications Approved

By:
Peter King - MortgageLoan.com | March 15, 2010

An additional 54,000 homeowners received permanent loan modifications in February under the government’s Home Affordable Modification Program (HAMP), bringing the total to 170,000.

Financing the Purchase of a Second Home

By:
Kirk Haverkamp - MortgageLoan.com | March 13, 2010

Thinking about buying a second home? If you’ve been fortunate enough to come through the economic downturn relatively unscathed, you can get some real bargains on vacation properties these days. But getting a mortgage may be a challenge, even if your own finances are in good order.

"Creative Financing" Could Hide Fraud

By:
Kara Johnson - MortgageLoan.com | March 12, 2010

In the current real estate market, lots of potential home buyers are looking to pick up a great deal. But beware – some deals that look great on the outside could have a rotten core.

Retail Up, But Consumer Sentiment Down

By:
Kara Johnson - MortgageLoan.com | March 12, 2010

Consumer sentiment fell in early March, despite coming on the heels of an unexpected jump in retail spending in February.

States Offer Low-Cost Mortgages, Down Payment Help

By:
Peter King - MortgageLoan.com | March 11, 2010

Do you want to buy a home but are worried about being able to get a mortgage? Don’t forget to look to your state for help.

Foreclosures Down in February

By:
Kirk Haverkamp - MortgageLoan.com | March 11, 2010

U.S. foreclosure filings fell 2 percent in February, but still remain 6 percent over their rate of one year before, according to new data released today by RealtyTrac.

State Unemployment Rates Slow

By:
Kirk Haverkamp - MortgageLoan.com | March 10, 2010

The number of states reporting increased unemployment declined in January, with the majority reporting a net increase in jobs, according to figures released today by the Labor Department.

Industry Report Finds Little Impact from Appraisal Rules

By:
Kirk Haverkamp - MortgageLoan.com | March 09, 2010

A widely disparaged set of new rules affecting home appraisals has actually had relatively little negative effect on real estate appraisers, according to a new study by an appraisal management company (AMC).

Consider a Credit Union for a Mortgage Loan

By:
Peter King - MortgageLoan.com | March 09, 2010

If you’re looking for a mortgage these days, either to buy a home or refinance your current home loan, one option you should definitely consider is a credit union.

Frank Urges Banks to Write Off Second Liens

By:
Kara Johnson - MortgageLoan.com | March 08, 2010

The influential chair of the House Financial Services Committee is ratcheting up the pressure on lenders to write off nearly worthless second liens to clear the way for loan modifications to help homeowners avoid foreclosure.

FDIC's Blair Touts Writedowns on Underwater Mortgages

By:
Kara Johnson - MortgageLoan.com | March 05, 2010

The FDIC is looking at principal writedowns in its loss-share agreements with failed banks as a way to help at-risk homeowners avoid foreclosure, according to FDIC Chair Sheila Blair.

Time May Be Running Out on Low Rates

By:
Kara Johnson - MortgageLoan.com | March 05, 2010

If you haven’t refinanced your mortgage by now, you might want to act soon if you want to get the best rates.

Pending Home Sales Fell in January

By:
Peter King - MortgageLoan.com | March 04, 2010

Pending home sales fell in January, despite expectations of a boost from expanded tax credit, according to new figures from the National Association of Realtors (NAR).

Avoiding PMI with Less Than 20 Percent Down

By:
Peter King - MortgageLoan.com | March 04, 2010

So you’re taking out a mortgage, but can’t put up a 20 percent down payment. Are there still ways you can avoid paying PMI?

30-Year Rates Back Below 5 Percent: MBA

By:
Kirk Haverkamp - MortgageLoan.com | March 03, 2010

More consumers moved to refinance their mortgages last week as rates once again dipped below the 5 percent mark, according to new information from the Mortgage Banker’s Association.

Jumbo Loans Making a Comeback

By:
Kirk Haverkamp - MortgageLoan.com | March 03, 2010

Jumbo loans are making a comeback.

After practically disappearing during 2009, jumbo mortgages are again being offered by lenders, although cautiously. Even so, that’s good news for upscale home shoppers – and great news for homeowners who already have jumbo loans and are looking to refinance.

 

Home Affordable Refinance Program Extended

By:
Kara Johnson - MortgageLoan.com | March 02, 2010

The Home Affordable Refinance Program (HARP), originally scheduled to end in June, will be extended at least one more year, the Federal Housing Finance Agency has announced.

Not All Mortgage Offers Are Good Faith Estimates

By:
Peter King - MortgageLoan.com | March 02, 2010

The new Good Faith Estimate (GFE) form is supposed to make it easier for borrowers to shop around for a mortgage by clearly spelling out what a lender will charge in fees and interest. However, you can still end up paying more than you expect if you’re not careful.

Consumer Spending, Manufacturing Show Gains

By:
Peter King - MortgageLoan.com | March 01, 2010

Consumer spending rose by half a percent in January, even as disposable income fell by nearly the same margin, according to new figures released today by the Commerce Department.