Mortgage Article Archive 2007

Understanding the Mortgage Foreclosure Process

By:

Tom Kerr - MortgageLoan.com | November 24, 2007

Foreclosures are rising to tragic levels all across the U.S., and they're happening across the entire demographic spectrum. To avoid foreclosure, it's essential that homeowners first understand exactly what it is, why it happens, and how it can result in the loss of a home.

Shared Appreciation Loans

By:

Catherine Brock - MortgageLoan.com | November 17, 2007

City governments and housing agencies are making homes more affordable by partnering with homebuyers on shared appreciation loans.

The Loan of a Lifetime?

By:

Greg Mischio - MortgageLoan.com | November 06, 2007

When a 50-year anniversary rolls around, it's considered "golden." The 50-year mortgage, however, has been anything but golden for homeowners and Wall Street investors.

Obstacles to Mortgage Modifications

By:

Tom Kerr - MortgageLoan.com | November 02, 2007

The mortgage crisis has had such an overwhelming affect on our nation, that even the President has asked mortgage companies to show flexibility when dealing with homeowners who face a threat of foreclosure. But mortgage investors may oppose such efforts because they have their own financial interests at stake.

HUD Pulling Back on Down Payment Assistance

By:

Tom Kerr - MortgageLoan.com | October 31, 2007

HUD has issued a moratorium on its practice of insuring mortgages for those who receive so-called down payment assistance from sellers through non profit "gift-giving" entities.

Avoid Foreclosure with a Short Sale

By:

Catherine Brock - MortgageLoan.com | October 07, 2007

Short sales are on the rise as borrowers and lenders struggle to stay afloat during a housing market correction.

Paying Cash for Your Home: Is it a Good Investment?

By:

Anders Bylund - MortgageLoan.com | September 27, 2007

If you could pay for your next home with cash, why wouldn't you? This could be one of the nicest problems that you'll ever have.

Government Relief for the Mortgage Crisis

By:

Tom Kerr - MortgageLoan.com | September 25, 2007

As the mortgage finance crisis expands, government officials are urging lenders to provide flexibility and relief to homeowners. The central bank is also supplying more money to banks to offset the impact of bad loan portfolios.

Countrywide's Tactics Taint the Mortgage Industry

By:

Tom Kerr - MortgageLoan.com | September 18, 2007

While the nation plunges deeper into a mortgage crisis, the leading lender is being exposed for unscrupulous mortgage lending practices. The revelations related to Countrywide-at least for now-have tarnished the entire industry's public image.

Is it Time to Buy a New Home?

By:

Catherine Brock - MortgageLoan.com | September 13, 2007

Consistently timing the market is impossible; make your home-buying decisions based on what you want and what you can afford.

Tips for Sellers in Risky Markets

By:

Catherine Brock - MortgageLoan.com | September 10, 2007

Experts say the real estate downturn hasn't hit the bottom yet. That puts even more pressure on sellers to make their homes attractive and affordable to buyers.

How Will Mortgage Market Mayhem Affect You?

By:

Tom Kerr - MortgageLoan.com | September 08, 2007

The hemorrhaging of the subprime mortgage industry is the news of the year, but only a small percentage of consumers directly participate in these kinds of special loans. All of us will feel the financial aftershocks, however, when we apply for other mainstream mortgage products.

Hedge Your Bets in a Challenging Mortgage Environment

By:

Tom Kerr - MortgageLoan.com | September 04, 2007

The mortgage market is in turmoil, and lenders are hyper-vigilant. In such a cautious climate, borrowers need to have a backup plan in case they get turned down when applying for a loan. One idea is to submit multiple simultaneous applications.

The Trouble with Alt-A Loans

By:

Tom Kerr - MortgageLoan.com | August 29, 2007

Alt-A loans are a category of mortgages that offer borrowers with good credit the convenience of not having to fully document and verify their income. While these loans are considered more secure than subprime loans, they have become troublesome due to a high volume of defaults.

Five Mortgage No-Nos for First Time Homebuyers

By:

Greg Mischio - MortgageLoan.com | August 08, 2007

"No talking with your mouth full! No playing in traffic! No talking to strangers!" Generations of parents have drilled these cautionary words into the minds of their children. Similar no-nos exist for first-time homebuyers. Heed them, and your home-buying experience will be a pleasurable one.

An Alternative to Foreclosure: Use the law

By:

Tom Kerr - MortgageLoan.com | August 07, 2007

It's standard procedure for borrowers who get behind in their mortgage payments to contact lenders and credit counselors to help sort out the situation before it leads to foreclosure. But these days, many homeowners are getting results by calling an attorney instead.

Sorting Through Mortgage Options

By:

Catherine Brock - MortgageLoan.com | July 24, 2007

It seems like everyone's talking about the difficulty getting mortgages, and how volatile adjustable-rate mortgages can be. But if you're a disciplined investor, you can sift through the warnings to find the right loan for you.

Down Payments Shrink toward Extinction

By:

Tom Kerr - MortgageLoan.com | July 12, 2007

Prior to the recently ended bull market in real estate, it was traditional to make a 20 percent down payment when taking out a home mortgage loan. Because of inflation, however, lenders began letting consumers commit less cash up front. This trend may contribute to riskier borrowing habits.

Home Mortgage Abuse Leads to Negative Savings

By:

Catherine Brock - MortgageLoan.com | July 09, 2007

The U.S. may be the leading industrial nation in the world, but it falls way behind other countries when it comes to personal savings. Cash-out home equity loans with attractive interest rates are a big factor behind this phenomenon.

Can Mortgage Company Appraisals be Trusted?

By:

Tom Kerr - MortgageLoan.com | July 02, 2007

In a sluggish market, desperate real estate agents and mortgage brokers may pressure appraisers to artificially increase property values. But the tactic can backfire if mortgage underwriters cancel loans because they think the sales prices are too high to be justified. To avoid problems, sellers need to be completely realistic when setting the prices for their homes.

Do You Know Your Mortgage?

By:

Greg Mischio - MortgageLoan.com | June 27, 2007

Mortgages are one of the biggest purchases a person will make. They're also the most complicated. But no matter how complex a home loan can be, you need to understand how your own mortgage works-or else you could find yourself in dire financial straits.

Growing Pains: The Parents-Backed Mortgage

By:

Tom Kerr - MortgageLoan.com | June 21, 2007

Today's kids find it increasingly difficult to finance a first home. Parents, motivated by a desire to provide financial security for their children, are helping with a so-called "parents-backed mortgage." This shared equity financing arrangement is an increasingly popular tool for assisting kids, and can provide mom and dad with extra income from real estate appreciation.

Should you Stretch your Budget for a New Home?

By:

Greg Mischio - MortgageLoan.com | June 15, 2007

With interest rates low and home prices beginning to level off, now is a great time to buy a home. Should you stretch your budget to buy the exact home that you want? This article, plus a good mortgage calculator, can help you find the answer.

Which Mortgage Term is Right For You?

By:

Greg Mischio - MortgageLoan.com | June 13, 2007

Counting on your fingers is a proven problem-solving technique. Unfortunately, it's useless after the first grade. Once you're an adult, you'll want to use a calculator for more difficult problems, like figuring out which mortgage term is right for you.

The New All-in-One-Mortgage

By:

Tom Kerr - MortgageLoan.com | May 30, 2007

Seattle-based Washington Mutual, Inc. recently unveiled a new type of mortgage designed to give consumers more options than ever before. The loan is expected to surge in popularity and will likely be imitated by other mortgage lenders around the U.S.

How Credit Affects Your Mortgage Eligibility

By:

Tom Kerr - MortgageLoan.com | May 28, 2007

Statistics show that a vast majority of Americans downplay the critical importance of good credit. But having a poor credit history in this area of your life can be the biggest obstacle to home ownership or mortgage refinancing.

How to Protect Your Mortgage

By:

Tom Kerr - MortgageLoan.com | May 26, 2007

Many consumers have mortgages that have gotten progressively expensive, as interest rates have climbed higher. A record number of homes are now in foreclosure. But if you take preventive, proactive measures to monitor and protect your mortgage, you can rest assured that your finances and your home will be safe and secure.

Hard Money Loans

By:

Tom Kerr - MortgageLoan.com | May 16, 2007

Hard money loans are made by lenders willing to accept greater risks than mainstream mortgage companies and banks. In exchange for providing loans to borrowers who would otherwise be turned down, hard money lenders charge higher interest rates. If you need a loan, and have bad credit or other problems, a hard money loan might be your easiest and best option.

Ethical Mortgage Brokers Ensure a Fair Home Purchase

By:

- MortgageLoan.com | May 07, 2007

Utilizing the services of a resourceful mortgage broker can save you not only time but money and worry. But because not all brokers are created equal, it's important that you choose yours carefully to find one who is skillful, reliable, ethical, and trustworthy.

Know Your Home Mortgage

By:

Greg Mischio - MortgageLoan.com | March 14, 2007

When it comes to shopping, we're a society that sweats the small stuff. We'll surf the Internet, and drive across town to research blenders, HDTVs, and video games, ad nauseum. However, when the product is a home mortgage (the biggest purchase most people will ever make), the majority of consumers are flying blind.

First Aid for Monthly Mortgage Payment Blues

By:

Greg Mischio - MortgageLoan.com | March 07, 2007

Are your finances flat-lining when your monthly mortgage payment comes due? Don't panic. While a lender could foreclose on your property, there are alternatives that can help to resuscitate both you and your finances.

The Basics of the Mortgage Market

By:

Tom Kerr - MortgageLoan.com | February 25, 2007

Before shopping for a mortgage, it's important to know how the industry is organized. Here are some helpful tips to demystify that world.

Cover Yourself with a Blanket Loan

By:

Catherine Brock - MortgageLoan.com | February 12, 2007

Financial institutions recognize that traditional mortgages don't serve the needs of all borrowers. One alternative offered is the blanket loan, a cousin to the traditional mortgage, which has both business and individual applications.

Manufactured Home Buying: Four Essential Financing Tips

By:

Catherine Brock - MortgageLoan.com | January 24, 2007

Shaking off the trailer park jokes, manufactured homes are gaining acceptance as a low budget route to home ownership. Now more than ever, it's important to know the basics of financing manufactured homes.

Mortgage Elimination Schemes and Scams

By:

Tom Kerr - MortgageLoan.com | January 11, 2007

We all want to eliminate our mortgage payments. If you're desperate to find a way out of your debts, you'll be even more susceptible to mortgage scam artists. Instead of falling for fraud, and being taken advantage of, consider taking advantage of a debt consolidation loan or a bad credit mortgage.