Mortgage Article Archive 2008

Four Most Important Lender Questions

By:

Greg Mischio - MortgageLoan.com | May 13, 2008

If you're being interviewed for a job, you need to ask the interviewer questions to make sure that the position is right for you. Mortgages are no different. There are certain questions that you need to ask a lender to determine if a home loan is right for your financial situation.

Six Tips for Buying Foreclosures

By:

Tom Kerr - MortgageLoan.com | May 12, 2008

Foreclosures not only represent a great professional investment opportunity, but can also be a fast way to acquire your first home or a cherished vacation property. In order to buy successfully and avoid common foreclosure pitfalls, it helps to know a bit about how these unique sales work.

Easy Guide to Buying Your First Home

By:

Catherine Brock - MortgageLoan.com | May 06, 2008

Don't let the gloomy mortgage news scare you; buying your first home is still a step-by-step process.

Is Subprime Crisis Nearing an End?

By:

Tom Kerr - MortgageLoan.com | May 06, 2008

Nobody has a crystal ball, but some data now indicates that the worst may be over for the intense and devastating subprime loan crisis. If the end is near, it's welcome news for the entire financial world, because the subprime debacle has caused widespread tremors and shocks.

Mortgage Brokers, Bankers, or Loan Officers: Know the Differences

By:

Tom Kerr - MortgageLoan.com | May 05, 2008

When applying for a mortgage loan or mortgage refinance, many consumers don't distinguish between brokers, bankers, and loan officers. But the differences are significant, and can affect the service you get, your costs, and the size of the selection of loan instruments offered to you.

Eight tips to Avoid Foreclosure

By:

Greg Mischio - MortgageLoan.com | May 05, 2008

The subprime crisis has made "foreclosure" a part of our everyday vernacular. If you're having problems making your mortgage payments, there are ways to avoid foreclosure before it's too late.

After Foreclosure: Mortgage Help

By:

Catherine Brock - MortgageLoan.com | April 30, 2008

After suffering through a foreclosure, you're faced with rebuilding your life and your credit profile, one step at a time.

An Overview of Mortgage Changes

By:

Tom Kerr - MortgageLoan.com | April 29, 2008

New mortgage rules have sprung up during the past few months, inspiring intense debate and controversy. Hopefully, some will actually protect consumers and taxpayers.

Understanding Cash back Mortgage Refinance Loans

By:

Catherine Brock - MortgageLoan.com | April 25, 2008

Learn how to raise the money you need by leveraging your home with a cash back mortgage refinance loan.

Coping with Job Loss

By:

Tom Kerr - MortgageLoan.com | April 22, 2008

Homeowners who have defaulted on a mortgage are not the only victims of the subprime crisis. Workers in the subprime mortgage sector have lost their jobs as the industry has crumbled. These workers can find new jobs, but they'll need to be persistent and innovative.

Treasury Secretary Gets Into The Mortgage Reform Act

By:

Tom Kerr - MortgageLoan.com | April 21, 2008

A plan to completely overhaul the financial system would make the U.S. Treasury the main watchdog and "cop" for a wide range of financial agencies and institutions. But the controversial plan has strong opposition.

Pros and Cons of a Nationwide Mortgage Guild

By:

Tom Kerr - MortgageLoan.com | April 14, 2008

Treasury Secretary Henry Paulson, Jr. has announced plans to establish stringent national licensing standards for mortgage brokers. While many embrace the idea, others say that it will be a disservice to both brokers and American consumers alike. Some say it will make no difference at all.

Consumer Crisis: The Fall of Bear Stearns

By:

Tom Kerr - MortgageLoan.com | April 08, 2008

JP Morgan's bailout of Bear Stearns curtailed an imminent spillover that threatened to take down other major financial institutions. But the average consumer didn't benefit directly from the rescue. American taxpayers may, in fact, wind up paying for all these bailouts over time.

Getting Your Money from Reverse Mortgages

By:

Tom Kerr - MortgageLoan.com | April 04, 2008

Reverse mortgages pay older homeowners for their home equity. But how you get your cash depends upon which mortgage options you choose. Decide what's best for your specific circumstances; then find a lender with a reverse mortgage that fulfills those needs.

New Jumbo Loan Limits May Ignite a Niche Market

By:

Tom Kerr - MortgageLoan.com | April 03, 2008

Higher limits on Fannie Mae and Freddie Mac loans may spark sales of high-end homes by making it easier and cheaper to finance them. The news is good for both buyers and sellers, and may inspire a surge in sales in a market that's been stagnant for months.

Reverse Mortgages and Aggressive Marketing

By:

Catherine Brock - MortgageLoan.com | March 26, 2008

Homeowners funded more than 130,000 reverse mortgages last year. Unfortunately, some of them were pressured into programs that didn't meet their expectations due to questionable advertising practices.

Bundled Mortgage Fees: More Trouble Than They're Worth

By:

Tom Kerr - MortgageLoan.com | March 26, 2008

"Bundling" has caused problems for many homeowners when their closing costs are grouped into a flat fee without itemization. Supporters of the practice claim it saves consumers money. Officials, however, are investigating it in the interest of consumer protection.

Mortgage Fallout: Lawyers Getting Into the Act

By:

Greg Mischio - MortgageLoan.com | March 25, 2008

There's plenty of blame to go around in the subprime crisis, and it's only natural that the finger pointing would eventually spill over to the legal system. Lawyers are licking their chops-and imagining their fees-as they enter the fray.

Politics and Mortgages: Know Your Candidates

By:

Catherine Brock - MortgageLoan.com | March 17, 2008

The state of the mortgage industry is high on the list of economic problems facing the U.S. today, and the presidential candidates are already talking about their proposed solutions.

Mortgage Problems? Don't Hide Away!

By:

Catherine Brock - MortgageLoan.com | March 12, 2008

Even though workout programs are becoming more common, many homeowners still avoid contacting their lenders when they can't make their mortgage payments.

Project Lifeline: New Short-term Hope for Mortgages

By:

Tom Kerr - MortgageLoan.com | March 11, 2008

Under a new program called Project Lifeline, some foreclosure proceedings will be postponed for 30 days. While the effort has a hopeful name, it may provide only temporary help and hope for seriously delinquent borrowers.

More Stringent Requirements for Second Mortgages

By:

Catherine Brock - MortgageLoan.com | March 04, 2008

Second mortgage rates are dropping, but lenders are tightening up the qualification requirements for home equity loans and lines of credit.

Avoid Foreclosure at any Price

By:

Tom Kerr - MortgageLoan.com | February 24, 2008

Foreclosures will adversely affect millions of people across the U.S. this year, with long-range personal and financial repercussions. If at all possible, avoid foreclosure-even if it requires drastic measures-in order to sidestep this homeowner catastrophe.

Four Homeowner Tips for "Short Sales"

By:

Tom Kerr - MortgageLoan.com | February 14, 2008

As a last ditch effort to avoid foreclosure and the ruining of their credit ratings, homeowners sometimes ask lenders for permission to do a "short sale." This transaction may be beneficial to you, but first weigh the pros and cons to be sure.

Down Payment Considerations and Potential Hazards

By:

Tom Kerr - MortgageLoan.com | January 29, 2008

Coming up with a down payment is only half the challenge for homebuyers. Deciding how much to pay can be just as difficult, because of the significant financial consequences.

Leveraging Your Mortgage: Why it Pays

By:

Tom Kerr - MortgageLoan.com | January 25, 2008

Maintaining mortgage debt is sometimes a faster path to wealth than paying off your house entirely and being totally debt free. With a mortgage, you can leverage a huge amount of money with a relatively small monthly payment, and enjoy substantial perks along the way.

How to Survive the Mortgage Crisis

By:

Tom Kerr - MortgageLoan.com | January 09, 2008

The current mortgage crisis is creating some horrific history; but you don't have to become one of the depressing statistics. Protect yourself from financial calamity by understanding your mortgage, being honest with your lender, and respecting your budgetary limitations.

Avoid These Down Market Buyer Mistakes

By:

Greg Mischio - MortgageLoan.com | January 04, 2008

The real estate market has experienced its most significant slide in years, and homeowners are unloading property at rock-bottom prices. Now might be the time to buy, provided you can avoid some common mistakes.

For Investors: Four Tips for Short Sale Purchase

By:

Tom Kerr - MortgageLoan.com | January 02, 2008

With the nation in a mortgage crisis and many homes headed for foreclosure, the so-called "short sale" has gained popularity. You can benefit from a short sale by getting a discounted price on a home. Here are four tips to minimize risk.