MortgageLoan

The True Meltdown Culprit: Unsuitable Mortgages

By:

Tom Kerr - MortgageLoan.com | November 30, 2008

Foreclosure is usually attributed to mortgage borrowers, not to those who fund the loans. But this time, the blame lies with the mortgage lenders and investors who created an artificial demand for loans, and then came up with inappropriately risky mortgages to feed that appetite.

Money Smarts: Should you Rent or Buy a Home?

By:

Anders Bylund - MortgageLoan.com | November 28, 2008

Home ownership comes with benefits that a renter could never get-but also, a few unique problems.

Double Whammy for Senior Mortgages: Falling Prices, Rising Debt

By:

Catherine Brock - MortgageLoan.com | November 27, 2008

Seniors are grappling with the economic crisis in their own way. They must deal with the potential for higher healthcare costs and lower net worth at a time when housing values are sliding and large senior mortgage balances are limiting their options for retirement planning.

Four Bad Borrowing Choices

By:

Greg Mischio - MortgageLoan.com | November 27, 2008

The economic downturn has been fraught with pain, uncertainty, and fear. It also contains a number of valuable lessons in money management. Homeowners are re-evaluating how they use their home equity, especially regarding investments and debt consolidation.

Bank Fees on the Rise

By:

Catherine Brock - MortgageLoan.com | November 26, 2008

Don't expect budget relief from falling gas prices; your bank is standing in line to pick up the slack.

Government to Banks: Stop Hoarding Bailout Money!

By:

Tom Kerr - MortgageLoan.com | November 25, 2008

Despite urging from the White House and the Treasury Dept., banks aren't lending. Instead, they're hoarding money to bolster their own balance sheets. That's not helping consumers or the overall financial situation, and in the absence of consumer credit, the economy is stuck in reverse.

Innocent Financial Crisis Victims: Foreclosure Pets

By:

Greg Mischio - MortgageLoan.com | November 24, 2008

The foreclosure crisis in America has produced plenty of heartbreaking scenes. But now, many of these homeowners are losing more than their homes. Animal shelters have reported increases in the number of pets abandoned because of home foreclosure, adding yet more innocent victims to the sagging U.S. economy: foreclosure pets.

Dropping the Ball: Economic Crisis Hitting Pro Sports

By:

Catherine Brock - MortgageLoan.com | November 24, 2008

Professional sports leagues are expressing concern over the economy, and how it might impact sports attendance.

Time for a Retirement Check-up

By:

Anders Bylund - MortgageLoan.com | November 23, 2008

A Wall Street recession can scare anyone, but the terror gets worse as you close in on your retirement. Whatever you do, don't panic!

Are Your Savings Secure?

By:

Catherine Brock - MortgageLoan.com | November 21, 2008

Banks seem to be failing left and right. Could yours be next?

Foreclosure Prevention Efforts Gaining Steam

By:

Catherine Brock - MortgageLoan.com | November 19, 2008

Data from one foreclosure prevention group indicates that the mortgage industry may be gaining traction against the crisis; but there are still some significant challenges to overcome.

Possible Bottom for Housing Prices?

By:

Tom Kerr - MortgageLoan.com | November 19, 2008

New home sales moved up in September, and that was a positive sign that housing prices may be finally finding a floor. Recent data shows both encouraging and worrisome indicators related to a possible housing bottom, but the only certain thing in today's economy is that nothing is certain.

Worldwide Financial Crisis: What to Tell the Kids

By:

Greg Mischio - MortgageLoan.com | November 18, 2008

Adults aren't the only ones feeling the strain of the current financial crisis. Kids also feel the stress by how their parents act, and what they see on the news. Now would be a great time to reassure your children, and use the slumping economy as a lesson in personal finance.

Bailout Plan Paves Way for Tax Breaks

By:

Catherine Brock - MortgageLoan.com | November 17, 2008

The financial rescue plan is loaded with tax breaks, and many apply specifically to individual taxpayers. Do you know what the changes will mean for you?

Does Bailout Lack Adequate Consumer Help?

By:

Catherine Brock - MortgageLoan.com | November 17, 2008

The $700 billion bailout plan addresses the mortgage crisis by reaching out to institutions and investors. FDIC Chairperson Sheila Bair and other politicians are baffled by the strategy; why not help homeowners instead?

Federal Deficit Spinning out of Control

By:

Catherine Brock - MortgageLoan.com | November 15, 2008

The federal deficit reached a record high point for fiscal year 2008, and all signs say that fiscal 2009 will be even worse.

Lawyers Feeding on Mortgage Mess

By:

Tom Kerr - MortgageLoan.com | November 14, 2008

In some ways, the mortgage meltdown reminds lawyers and their class-action plaintiffs of the Enron scandal. After the fall of Fannie Mae, Freddie Mac, and Lehman Brothers, lawyers are pushing class-action litigation to try to recover losses for investors caught up in the mortgage mess.

Mortgage Crisis Silver Lining: Savings on the Rise

By:

Catherine Brock - MortgageLoan.com | November 13, 2008

For years, Americans spent almost every penny of their income. But new economic data indicates that the financial crisis may be pressuring some to finally start saving once again.

New Regulation to Clean up Financial Industry Mess

By:

Catherine Brock - MortgageLoan.com | November 12, 2008

Legislators and economists are still trying to get their arms around how the subprime mortgage crisis blossomed into a full-blown financial industry meltdown. Fingers are being pointed at the fractured regulatory system that failed to provide much-needed oversight.

Congressional Democrats, President-elect Obama Press for TARP Aid for Auto

By:

Bill Rice - MortgageLoan.com | November 10, 2008

The Big Three auto makers continue their death march, burning millions in cash every month while auto sales drop to the lowest in 25 years. Help may be on the way.

Paulson Picks Bailout Czar

By:

Tom Kerr - MortgageLoan.com | November 09, 2008

The person chosen to oversee the $700 billion mortgage bailout plan shares some distinctive traits with Treasury Secretary Henry Paulson. Neel Kashkari, the new bailout czar, is a bright economist who, like Paulson, used to be an investment banker at Goldman Sachs.

Local Sheriff takes Action to Avoid Foreclosures

By:

Tom Kerr - MortgageLoan.com | November 09, 2008

Sheriff Thomas J. Dart of Cook County, Illinois suspended evictions and foreclosure because he said that foreclosures and sheriff sales were putting innocent renters at an unfair disadvantage. His defiance sparked an immediate protest from bankers, but the lawman stuck to his guns.

Housing Rescue: Slow Going

By:

Tom Kerr - MortgageLoan.com | November 08, 2008

Despite housing rescue initiatives like Hope Now, and a mortgage bailout plan worth $700 billion, the housing rescue is moving slowly. Each month, 200,000 homes still enter foreclosure.

Simple Upgrades Lower Home Energy Cost

By:

Greg Mischio - MortgageLoan.com | November 07, 2008

As the stock market goes down, the need for energy savings goes up. Consumers are thinking less about spending and more about saving, and they're focusing heavily on home energy costs. If you think the only way you can realize some efficiency gains is through expensive home improvements, think again.

Getting to Know Your Mortgage Documents

By:

Tom Kerr - MortgageLoan.com | November 06, 2008

American homeowners should study their loan documents to make sure that they know their obligations. Otherwise, loans like ARM and interest-only mortgages could blow up in their faces.

States Feeling Credit Crunch Pain

By:

Catherine Brock - MortgageLoan.com | November 05, 2008

The combination of declining revenues, increasing expenses, and insufficient access to capital is a deadly one for local municipalities.

Small Businesses Struggling for Survival in Economic Downturn

By:

Catherine Brock - MortgageLoan.com | November 05, 2008

Credit availability is in short supply, energy costs are volatile, and no one's sure how the bailout plan is going to help the economy. These concerns are weighing heavily on the minds of small business owners.

Bailout a Potentially Lucrative Investment for Taxpayers

By:

Catherine Brock - MortgageLoan.com | November 04, 2008

The $700 billion financial bailout plan gives the U.S. Treasury an option to buy, on behalf of taxpayers, an equity stake in troubled financial firms. If the plan facilitates the recovery of these firms, that equity provision could create big profits down the road for American taxpayers.

Is the Economic Crisis Hurting our Kids?

By:

Catherine Brock - MortgageLoan.com | November 02, 2008

During bad economic times, parents don't just have to make ends meet; they also have to take steps to minimize the negative impact the economy might have on their kids.

Escaping the Paycheck-to-Paycheck Quagmire

By:

Catherine Brock - MortgageLoan.com | November 01, 2008

Paycheck-to-paycheck living may be the way you roll, but it isn't sustainable long-term. Take steps to give yourself some financial breathing room.

Finally, Some Hope for Homeowners

By:

Catherine Brock - MortgageLoan.com | October 31, 2008

The Hope for Homeowners foreclosure prevention program offers a solution for at-risk homeowners.

Mortgage Meltdown: Is Affordable Housing to Blame?

By:

Tom Kerr - MortgageLoan.com | October 30, 2008

Some critics, desperate for a way to explain the current mortgage crisis, have been blaming it on the 1977 Community Reinvestment Act (CRA). Under the CRA, banks receiving federal insurance are encouraged to lend within their own communities, even if those areas are economically depressed. The CRA was meant to provide low-income Americans with more affordable housing.

All About Peer-to-Peer Lending

By:

Catherine Brock - MortgageLoan.com | October 27, 2008

As consumers demand alternatives to traditional bank lending, more and more companies are getting into the person-to-person lending business.

The Shrinking of Fannie Mae

By:

Tom Kerr - MortgageLoan.com | October 23, 2008

Fannie Mae and Freddie Mac are both trying to shore up anemic balance sheets to regain healthy cash reserves. But that guarded approach to mortgage lending might send mortgage rates higher and make mortgage qualification much more difficult for the average American.

Small Business and the Mortgage Bailout

By:

Catherine Brock - MortgageLoan.com | October 22, 2008

While oversized and overextended financial firms get all the attention, small business owners are quietly struggling to get by.

California Protects Consumers from Shady Mortgage Brokers

By:

Tom Kerr - MortgageLoan.com | October 21, 2008

The state of California usually leads the charge when it comes to progressive legislation. Now, Californians have new mortgage laws and mortgage license regulations. But consumer advocates wonder if it's enough to protect borrowers from mortgage broker fraud.

Can Foreclosure Prevent You from Voting?

By:

Catherine Brock - MortgageLoan.com | October 11, 2008

Voter challenge laws in the state of Michigan are stirring up controversy, as rumors circulate about the Republican Party's intention to use foreclosure lists to block voters at the polls.

Are Low Mortgage Rates Here to Stay?

By:

Tom Kerr - MortgageLoan.com | October 10, 2008

Immediately following the Treasury takeover of Fannie Mae and Freddie Mac, borrowers took advantage of much lower mortgage rates, and refinance applications surged. But with extreme financial uncertainty in the U.S., mortgage rates are poised to rise again before too long.

Has the Housing Market Hit Bottom?

By:

Tom Kerr - MortgageLoan.com | October 10, 2008

As real estate sales slump, so do home prices. As prices sink, market value and equity vanish, and foreclosures rise. Now, fresh Commerce Department evidence indicates that we're still in a downward spiral and far from the end in terms of foreclosures and lower housing prices.

Real Estate Investors Ready to Gobble Discounted Properties

By:

Greg Mischio - MortgageLoan.com | October 08, 2008

As home values continue to slump, foreclosures are swamping the market. It may be a sad day for people who lost their homes; but for many real estate investment companies, it's the pot of gold at the end of the rainbow.

Takeover at Fannie/Freddie by the Feds

By:

Tom Kerr - MortgageLoan.com | October 06, 2008

With the government takeover of mortgage agencies Fannie Mae and Freddie Mac, the mortgage market got a needed boost. In the wake of the news, loans from the FHA and other lenders became much less expensive, and that could potentially save the ailing real estate market.

Presidential Politics: Views on Fannie, Freddie Bailout

By:

Catherine Brock - MortgageLoan.com | October 05, 2008

Fannie Mae and Freddie Mac have given the U.S. presidential candidates another economic issue to argue.

Foreclosure Rates: A Growing Problem

By:

Tom Kerr - MortgageLoan.com | October 02, 2008

Various foreclosure assistance programs were supposed to stall the upward momentum of high foreclosure rates, and even reverse the expanding epidemic. Instead, the situation is getting worse, and there appears to be nothing anyone can do to stop the rising tide of defaults.

Improve Your Chances of Selling Your Home

By:

Greg Mischio - MortgageLoan.com | October 01, 2008

As the real estate market continues its descent, home sellers are becoming more innovative. The days of setting up a "for sale" sign are long gone. For people who have "selling home" on the top of their priority list, tactics like home staging and house trading are becoming useful.

Better Oversight for Appraisers

By:

Catherine Brock - MortgageLoan.com | September 29, 2008

In the ongoing aftermath of the subprime crisis, attention has turned to real estate appraisers and what role they might have played in the turmoil.

Mortgage Crisis: Communities to the Rescue

By:

Greg Mischio - MortgageLoan.com | September 27, 2008

All over the country, people are feeling the effects of the subprime mortgage crisis. As home values plummet and foreclosure rates soar, communities are finding new ways to provide mortgage assistance to their neighbors.

Government Steps in with Mortgage Help

By:

Catherine Brock - MortgageLoan.com | September 26, 2008

The federal government has unleashed the FHA to help at-risk mortgage borrowers keep their homes.

Congress Talks: Bailout Plan Needs Homeowner Provisions

By:

Catherine Brock - MortgageLoan.com | September 25, 2008

The emergency federal bailout plan has been drafted. The proposal involves buying up mortgage-related assets from failing financial institutions; but are homeowners going to get some help, too?

The Economy's Future: The Candidates' Plans

By:

Catherine Brock - MortgageLoan.com | September 22, 2008

Some say that the U.S. economy is teetering on the edge of another Great Depression. Find out what the presidential candidates plan to do about it.

Say Good-bye to Down Payment Assistance Programs

By:

Catherine Brock - MortgageLoan.com | September 16, 2008

The Housing and Economic Recovery Act of 2008 shuts off an important form of funding for some homebuyers.

Mortgages: Harder to Get and More Expensive

By:

Tom Kerr - MortgageLoan.com | September 15, 2008

Mortgages-whether from the FHA, Fannie Mae, Freddie Mac, or private lenders-are getting more costly and increasingly difficult to qualify for, thanks to an ongoing financial crisis. Rather than helping Americans fulfill their American dreams and buy their home, banks seem to be putting obstacles in the path.

How to Avoid Foreclosure

By:

Tom Kerr - MortgageLoan.com | September 11, 2008

Foreclosure prevention tops the wish list for many American homeowners; but avoiding foreclosure in today's market can be extremely challenging. It is possible, however, and borrowers should pursue solutions to avoid foreclosure--especially opportunities for loan modification.

Saving Celebrity Homes from Foreclosure

By:

Catherine Brock - MortgageLoan.com | September 10, 2008

Foreclosure isn't just for the mainstream population; celebrities are getting hit with mortgage problems, too.

Refinance out of a Risky Mortgage

By:

Greg Mischio - MortgageLoan.com | September 07, 2008

Home values have plummeted, while the interest rates on adjustable rate mortgages (ARMs) are rising. The bubble has obviously burst for the U.S. housing market, and it may be "refinance risky mortgage" time for you.

Tenants: Protection from Landlord Foreclosure

By:

Catherine Brock - MortgageLoan.com | September 06, 2008

A California bill seeks to establish protections for renters whose landlords aren't staying current with their mortgage payments.

Mortgages: It's EASY Being Green!

By:

Catherine Brock - MortgageLoan.com | September 03, 2008

Green mortgages are giving homeowners incentives to go green, one home at a time.

Age Old Dilemma: Invest or Pay Down Mortgage?

By:

Catherine Brock - MortgageLoan.com | September 01, 2008

You get a sizeable raise that leaves you with some extra money every month. Does it make more sense to send that extra cash to your mortgage lender or to your brokerage account?

Loan Locks and Mortgage Rate Trends

By:

Tom Kerr - MortgageLoan.com | August 29, 2008

Before locking in a home loan, it's wise to understand the general trend of current mortgage rates. Such knowledge improves your chance of getting the best or lowest rate at today's going prices.

Benefits of a 40-Year Mortgage

By:

Catherine Brock - MortgageLoan.com | August 26, 2008

The 40-year mortgage may have a place in your finances, as long as you know both its good and bad sides.

The New Housing Bill: What it Means for You

By:

Tom Kerr - MortgageLoan.com | August 20, 2008

Congress recently passed a new housing bill, and lawmakers claim that it will do much to help distressed homeowners. While many will now be able to refinance their loans to more affordable ones, it may be others who really benefit from the bill-including people who don't yet own a home.

Finding Your Perfect Mortgage

By:

Greg Mischio - MortgageLoan.com | August 14, 2008

In today's topsy-turvy financial world, finding a perfect mortgage is a tall order. However, you can find a mortgage that fits your personal financial situation. It will take some research, patience, and realistic goals. Here are a few simple tips to get you started.

Protect Yourself From Bank Failures

By:

Catherine Brock - MortgageLoan.com | August 13, 2008

IndyMac Bank was taken over by regulators, and more banks possibly will follow. If you're worried about your bank, learn how to prepare for the worst.

Sale Leasebacks Make a Comeback

By:

Tom Kerr - MortgageLoan.com | August 13, 2008

With millions of homeowners facing foreclosure due to adjustable-rate mortgage increases and slumping real estate values, sale leaseback strategies are in vogue. In this strategy, the homeowner sells her house and immediately leases it back as a tenant.

Speedy Does It: Quick Ways to Repay Your Mortgage

By:

Catherine Brock - MortgageLoan.com | August 12, 2008

You don't need a mortgage expert or special advisor to help you pay back your mortgage early.

To Rent or Buy Your Next Home

By:

Catherine Brock - MortgageLoan.com | August 05, 2008

Not sure about renting vs. owning your next home? Take a closer look at the conveniences of renting compared to the financial benefits of owning.

Finding the Perfect Mortgage Broker

By:

Tom Kerr - MortgageLoan.com | August 05, 2008

These are extremely challenging times for consumers browsing for a mortgage, and it often helps to use the services of a broker. Before hiring one, it's important to shop for one who's reliable, resourceful, and reasonably priced.

Retire Mortgage Free

By:

Catherine Brock - MortgageLoan.com | July 31, 2008

If the biggest obstacle between you and your retirement is your mortgage payment, consider easing the burden on yourself with this outside-the-box strategy.

Mortgage Smarts: Know What You're Getting

By:

Catherine Brock - MortgageLoan.com | July 30, 2008

Getting caught off-guard by restrictive mortgage terms that your lender didn't warn you about can be disastrous. Avoid this fate by learning what to look for in your loan documentation.

Fannie and Freddie Take the Plunge

By:

Tom Kerr - MortgageLoan.com | July 30, 2008

Shares of the most important mortgage companies in the U.S.-Fannie Mae and Freddie Mac-did a nosedive in July. The agencies are now virtually insolvent. This is an extremely disturbing sign of worsening real estate and mortgage conditions.

The Heart of Pittsburgh: Reconciliation Before Foreclosure

By:

Tom Kerr - MortgageLoan.com | July 29, 2008

Before enforcing foreclosure evictions, one compassionate Sheriff in Pennsylvania plans to invite homeowners to meet with mortgage lenders and financial counselors. By doing so, he hopes to stop foreclosures through proactive solutions.

Understanding Lowball Offers

By:

Tom Kerr - MortgageLoan.com | July 24, 2008

Negotiating for the best price for real estate can be a delicate process. By offering too much, it's easy for a buyer to overpay. Sometimes, a so-called "lowball" offer can offend the seller and jeopardize the whole deal. Experts say that communication is the key to success.

Surviving the Mortgage Crisis: Living Outside the Box

By:

Greg Mischio - MortgageLoan.com | July 23, 2008

The recent bust in the housing market has caused a boom in other real estate markets. Alternative homes, such as RVs, co-ops, houseboats, and factory-built models are back on the radar screen.

Saving the Economy May Hurt Mortgage Rates

By:

Tom Kerr - MortgageLoan.com | July 23, 2008

Starting in 2007, the Fed voted to progressively cut mortgage rates, and within the first quarter of 2008, slashed them dramatically and severely. This reduction was an effort to provide needed liquidity to the mortgage and real estate industries. But now, with inflation our greatest economic threat, rates may rise. Such a shift in monetary policy could be painful for consumers.

Foreclosures Dangerous for Pets

By:

Catherine Brock - MortgageLoan.com | July 21, 2008

Household pets are feeling the sting of foreclosure, too, as families move out and leave their furry friends behind.

How to Lower Closing Costs

By:

Tom Kerr - MortgageLoan.com | July 17, 2008

One of the disturbing things that came to light during recent investigations into the credit crisis is that lenders often overcharge consumers when they take out mortgages or home equity loans. Before applying for a loan, know what closing costs to expect and how to reduce or avoid them, if possible.

How Consumers Conned Mortgage Lenders

By:

Tom Kerr - MortgageLoan.com | July 16, 2008

Borrowers who used notorious subprime loans typically paid higher mortgage rates. Many of them also misrepresented their income and assets, and lenders took their word for it. These so-called "liar loans" afforded consumers the perfect opportunity to dupe lenders.

All About Mortgage Down Payments

By:

Tom Kerr - MortgageLoan.com | July 16, 2008

Buying a house sometimes hinges on the ability to come up with cash for the down payment. But larger down payments can also save consumers money. During challenging economic times, it helps to understand all the options before applying for a mortgage and buying a home.

Helping Others Through Foreclosure

By:

Catherine Brock - MortgageLoan.com | July 15, 2008

In the new reality of home financing, the American dream has turned its back on thousands of U.S. households. Neighbors around the country are wondering how to handle the awkward situation of watching their friends pack up and leave due to foreclosure.

Mortgage Smarts: The Home Ownership and Equity Protection Act

By:

Catherine Brock - MortgageLoan.com | July 13, 2008

The Home Ownership and Equity Protection Act targets predatory lending practices.

Mortgage Crisis Changing Reality TV

By:

Catherine Brock - MortgageLoan.com | July 09, 2008

A changed reality of volatile mortgage rates and low demand in the real estate world is seeping its way into reality television.

No Bank Mortgage? Try a Person!

By:

Tom Kerr - MortgageLoan.com | July 09, 2008

Traditional lenders have tightened credit in order to offset losses related to the mortgage crisis. As a result, many consumers are now turning to non-traditional sources for money. Online networks of individual lenders with downloadable loans are suddenly coming into vogue.

How to Read a Real Estate Appraisal

By:

Tom Kerr - MortgageLoan.com | July 08, 2008

These days, the market value of homes is in constant flux. Homeowners who want to refinance, take out equity loans, or verify their assets need to rely on updated appraisal information. Understanding this data requires knowledge of how to read an appraisal report.

Five Tips for Finding the Best Realtor

By:

Tom Kerr - MortgageLoan.com | July 08, 2008

Choose your realtor well and you can save time, money, and headaches. You might even sell a home for a better price, get a smarter mortgage, or find the home of your dreams at a dreamier price. But success hinges on your ability to find the best person for the job.

All About Graduated Payment Mortgages

By:

Catherine Brock - MortgageLoan.com | July 06, 2008

The graduated payment mortgage is poised to make a comeback as borrowers and lenders seek financing solutions that ease the financial strain of buying a home.

Four Traits of a Good Mortgage Broker

By:

Greg Mischio - MortgageLoan.com | July 03, 2008

A mortgage is the biggest investment most people will ever make. If you're going to use a mortgage broker for such an important transaction, be sure that you're working with the best. Here are some distinctive traits of the top mortgage brokers.

Stalk and Capture Profitable Foreclosures: Five Ideas

By:

Tom Kerr - MortgageLoan.com | July 01, 2008

Foreclosure hot spots are springing up throughout the nation. For some investors, they're as valuable as oil wells. Making money on foreclosures, or buying them as affordable housing, is easier in 2008, but a big part of the challenge is finding them before others stake their own claims.

Minimizing Healthcare Costs By Maximizing First Dollar Coverage

By:

Catherine Brock - MortgageLoan.com | June 29, 2008

A study released in late 2007 indicates that a majority of high deductible health plans that are compatible with health savings accounts (HSAs) are footing the bill for preventative care.

Six Reasons to Get a Long-Term Mortgage

By:

Greg Mischio - MortgageLoan.com | June 26, 2008

As much as home ownership is the American Dream, owing money on a home loan is perceived by many as the American Nightmare. Yet, despite the thousands of dollars you'll spend on interest payments, there are some benefits to a long-term mortgage.

Could Falling Home Prices Be Good?

By:

Tom Kerr - MortgageLoan.com | June 25, 2008

As the majority calls for price supports and taxpayer-funded bailouts to support the falling housing market, some think it's better to let prices fall. They believe that this would finally deflate the bubble that started the trouble in the first place. At least then we would have appropriately priced housing.

Creative Strategies for Generating Down Payments

By:

Tom Kerr - MortgageLoan.com | June 25, 2008

With home prices a relative bargain, and builders willing to throw in valuable upgrades for free, buyers are eager to raise enough cash to close the deal. But lenders are requiring bigger down payments, so borrowers are adopting some creative methods for raising the necessary funds.

Mortgage Servicers Slow at the Wheel

By:

Tom Kerr - MortgageLoan.com | June 17, 2008

Officials in Washington and in the lending industry have touted joint efforts to help distressed homeowners refinance away from foreclosure. But if you plan to refinance or otherwise rework your loan, be prepared for a long and sometimes frustrating wait.

Protect Yourself from Predatory Lending

By:

Tom Kerr - MortgageLoan.com | June 17, 2008

Predatory lending reached epidemic proportions within the past decade, as ongoing investigations into the current mortgage crisis reveal. To protect yourself from unscrupulous lenders, it's important that you arm yourself with updated knowledge and insightful information.

Choosing a Recession-Proof Career

By:

Anders Bylund - MortgageLoan.com | June 11, 2008

Some jobs are always safe, even in times of economic turmoil. Maybe one of them should be in your future.

How Mortgage Rates Affect Spending Power

By:

Tom Kerr - MortgageLoan.com | June 11, 2008

When mortgage rates fluctuate, it has an impact on other aspects of the monetary system and economy not directly related to the housing market or mortgage industry. How changes in rates play a role in our spending power is of critical importance.

Mortgage Hunting? Know Your Lender

By:

Catherine Brock - MortgageLoan.com | June 11, 2008

If you've already started searching for a mortgage-stop! There are some folks you need to meet first.

Find Financial Freedom with Bi-Weekly Payment Plans

By:

Tom Kerr - MortgageLoan.com | June 10, 2008

Bi-weekly payment plans are a smart way to pay off your mortgage early, and they're generally easy to set up by yourself. With this clever arrangement, you pay no more than usual, but can save thousands of dollars during the life of a typical mortgage.

How Foreclosures Work

By:

Catherine Brock - MortgageLoan.com | June 09, 2008

Recent increases in defaulted mortgage loans may present opportunities for homebuyers looking for deals, but purchasing a foreclosed home can be a touchy situation.

A Guide to Finding Foreclosures

By:

Tom Kerr - MortgageLoan.com | June 09, 2008

Buyers who know how to find foreclosure listings are enjoying a wonderfully diverse selection of bargain properties. Learn to spot these undervalued houses and you may get an exceptionally good deal on an affordable home.

Mortgage Crisis Fuels Relationships Breakdowns

By:

Anders Bylund - MortgageLoan.com | June 05, 2008

Whether for love or money, the pressures of the current financial climate have taken their toll on relationships across the country.

Five Pointers to Survive the Recession

By:

Greg Mischio - MortgageLoan.com | June 05, 2008

These days, times are tough for every household's bottom line. The job market is getting squeezed, home values are in a free fall, and gas prices are rising. Here are five tips to get you through this difficult period.

Government-Sponsored Enterprises: An Overview

By:

Catherine Brock - MortgageLoan.com | June 04, 2008

Freddie Mac and Fannie Mae are quasi-governmental agencies that were originally established to help you accomplish your financial goals.

Four Signals We're on the Cusp of Recession

By:

Greg Mischio - MortgageLoan.com | June 04, 2008

Recently, every economist under the sun has been asked the same question: Are we in a recession? The traditional answer is based on the decrease in the nation's Gross Domestic Product. Yet all you really need to do is look at the poorly performing job market to spot the telltale signs of the "R" word.

Changing Times for Real Estate Brokers

By:

Tom Kerr - MortgageLoan.com | June 04, 2008

The playing field has changed for real estate agents, as consumers have gained access to online tools and technologies that previously were reserved only for licensed professionals. To keep up with the times, agents need to remain relevant and needed. Otherwise, savvy buyers and homeowners may opt to go it alone.

Your Commitment Letter: Firm or Conditional?

By:

Catherine Brock - MortgageLoan.com | May 29, 2008

Knowing whether your commitment letter is firm or conditional can spare you from some ugly surprises.

Mortgage Crisis: Learning from the UK

By:

Tom Kerr - MortgageLoan.com | May 28, 2008

As the U.S. struggles to remedy its subprime mortgage crisis, other countries-especially the UK-are having their own economic problems. But the UK deals with mortgage woes in unique ways that may teach us a new approach.

Foreclosures of the Rich and Infamous

By:

Anders Bylund - MortgageLoan.com | May 26, 2008

Celebrities may not be rich forever. The foreclosure wave is an equal opportunity tsunami.

Use Internet Technology For Foreclosure Savvy

By:

Catherine Brock - MortgageLoan.com | May 22, 2008

The shakedown in the real estate industry is creating a large inventory of foreclosure properties. With the help of the Internet, opportunistic property seekers can find these bargains without leaving home.

Uncle Sam as a Mortgage Investor

By:

Tom Kerr - MortgageLoan.com | May 21, 2008

Lawmakers are proposing various kinds of mortgage crisis bailouts or rescue plans, and most suggest that the government get more involved in helping to relieve the burden of bad loans. That basically means that Uncle Sam will invest our tax dollars in the mortgage business.

Lenders Avoiding Foreclosure Rescue

By:

Tom Kerr - MortgageLoan.com | May 20, 2008

Mortgage lenders have been pressured by Congress to help homeowners, and many volunteered to "rework" troublesome loans with flexible terms and refinancing. But recent reports show that few are following through on promises. Meanwhile, homeowners are increasingly desperate.

Mortgages: Understanding Income Declaration

By:

Catherine Brock - MortgageLoan.com | May 19, 2008

When applying for a mortgage, you can choose to declare your income using a full income verification loan, or opt for a loan in which the lender doesn't verify how much you earn. Do you know what the differences are?

Five top Mortgage Errors

By:

Greg Mischio - MortgageLoan.com | May 19, 2008

To err is human. To err on your mortgage, however, is costly. Many homeowners make common mistakes regarding their home loans. These easily can be avoided if you're aware of the most common mortgage errors.

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.

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.

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.