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By:
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Catherine Brock - MortgageLoan.com | 12/28/2008 - 1:11am
Housing sales in California picked up in October, prompting some to wonder if a recovery might be in the making.
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By:
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Catherine Brock - MortgageLoan.com | 12/23/2008 - 1:59am
President-elect Obama says he has his team working on a bold plan to create 2.5 million jobs by January 2011.
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By:
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Tom Kerr - MortgageLoan.com | 12/23/2008 - 1:56am
Those who think that the credit crisis put the brakes on mortgage lending this year may be surprised to see mortgage levels deteriorate even more in 2009. Many experts expect to see the pace of both commercial and residential mortgage loan activity grow even more sluggish next year.
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By:
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Catherine Brock - MortgageLoan.com | 12/22/2008 - 1:49am
Former subprime masterminds are back in action, but now they're targeting FHA loans.
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By:
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Catherine Brock - MortgageLoan.com | 12/21/2008 - 1:29am
President-elect Obama would like to see a strong HUD leading the country out of the housing crisis. But is that realistic?
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By:
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Greg Mischio - MortgageLoan.com | 12/19/2008 - 1:01am
Santa has come early for unemployed workers and troubled homeowners. President Bush recently signed into law an extension of unemployment benefits and a moratorium on home foreclosures. With more jobs being lost every day, and Fannie Mae and Freddie Mac in deep trouble, will this gift last longer than the holidays?
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By:
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Tom Kerr - MortgageLoan.com | 12/18/2008 - 1:45am
Virginia Federal Reserve Bank President Jeffrey Lacker has a rather positive outlook for 2009, which is actually shared by other economists. If Lacker is right about his forecast for the economy in 2009, it will be cause to celebrate.
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By:
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Catherine Brock - MortgageLoan.com | 12/17/2008 - 1:40am
Financial companies are applying for bank holding company status to diversify and improve their access to cash.
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By:
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Tom Kerr - MortgageLoan.com | 12/16/2008 - 1:45am
Fed Chairman Ben Bernanke continues to remind America that the Fed is dedicated to fixing the economy. But the problems are global, require cooperation from central banks worldwide, and are unprecedented in the history of the world.
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By:
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Catherine Brock - MortgageLoan.com | 12/16/2008 - 1:39am
President Bush admits the need for economic reform, but emphasizes the importance of keeping capitalism alive and well.
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By:
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Tom Kerr - MortgageLoan.com | 12/14/2008 - 1:21am
Freddie Mac and its counterpart, Fannie Mae, were originally created in the beginning of the last century to strengthen the nation's real estate economy. Now, taxpayers are being forced to return the favor with a massive bailout of these two institutions. The economy is worsening, and Freddie Mac needs quick cash.
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By:
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Catherine Brock - MortgageLoan.com | 12/14/2008 - 1:17am
This year, government spending is set to annihilate previous U.S. budget deficit records. Even so, the government may be under pressure to spend more, not less.
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By:
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Tom Kerr - MortgageLoan.com | 12/12/2008 - 1:57am
While FDIC Chairman Sheila Bair continues to push for loan modifications to save homeowners and stabilize banks, the White House seems to be turning a deaf ear to her pleas and warnings. She's been pushing banks and politicians for radical action for an entire year, to no avail.
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By:
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Catherine Brock - MortgageLoan.com | 12/12/2008 - 1:00am
Barack Obama has some options when it comes to healing the fractured housing market.
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By:
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Catherine Brock - MortgageLoan.com | 12/11/2008 - 1:52am
Global leaders met to strategize on how to save the global economy from further economic damage.
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By:
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Catherine Brock - MortgageLoan.com | 12/10/2008 - 1:43am
Credit unions that bypassed the mortgage meltdown are increasing their loan production as other lenders falter.
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By:
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Catherine Brock - MortgageLoan.com | 12/07/2008 - 1:36am
Lenders are raising down payment requirements, setting the stage for more parent-funded solutions.
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By:
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Greg Mischio - MortgageLoan.com | 12/06/2008 - 1:16am
Buying a new home is a complicated procedure. It takes patience, planning, and great timing. For a first time homebuyer, the process can be fraught with financial landmines.
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By:
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Anders Bylund - MortgageLoan.com | 12/05/2008 - 1:26am
Homebuilders want to help you save money-so you can buy a house.
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By:
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Catherine Brock - MortgageLoan.com | 12/04/2008 - 1:12am
The government's solution to the foreclosure crisis isn't drawing many takers, and new estimates say the program will fall far short of initial projections.
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By:
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Catherine Brock - MortgageLoan.com | 12/03/2008 - 1:51am
In early-October, lawmakers passed an historic $700 billion financial bailout bill in a mad dash to avert a global financial meltdown. But now, the Secretary of the Treasury has said that he's leaving the mess in Obama's hands.
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By:
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Tom Kerr - MortgageLoan.com | 11/30/2008 - 1:37am
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.
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By:
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Anders Bylund - MortgageLoan.com | 11/28/2008 - 1:27am
Home ownership comes with benefits that a renter could never get-but also, a few unique problems.
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By:
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Catherine Brock - MortgageLoan.com | 11/27/2008 - 1:36am
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.
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By:
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Greg Mischio - MortgageLoan.com | 11/27/2008 - 1:32am
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.
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By:
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Catherine Brock - MortgageLoan.com | 11/26/2008 - 1:27am
Don't expect budget relief from falling gas prices; your bank is standing in line to pick up the slack.
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By:
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Tom Kerr - MortgageLoan.com | 11/25/2008 - 1:09am
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.
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By:
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Catherine Brock - MortgageLoan.com | 11/24/2008 - 1:11am
Professional sports leagues are expressing concern over the economy, and how it might impact sports attendance.
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By:
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Greg Mischio - MortgageLoan.com | 11/24/2008 - 1:15am
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.
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By:
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Anders Bylund - MortgageLoan.com | 11/23/2008 - 1:02am
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!
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By:
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Catherine Brock - MortgageLoan.com | 11/21/2008 - 1:26am
Banks seem to be failing left and right. Could yours be next?
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By:
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Catherine Brock - MortgageLoan.com | 11/19/2008 - 1:45am
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.
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By:
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Tom Kerr - MortgageLoan.com | 11/19/2008 - 1:09am
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.
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By:
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Catherine Brock - MortgageLoan.com | 11/18/2008 - 1:40am
Nonprofit organizations, like the American Red Cross, are facing sharply lower charitable contributions at a time when they need it most.
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By:
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Greg Mischio - MortgageLoan.com | 11/18/2008 - 1:36am
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.
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By:
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Catherine Brock - MortgageLoan.com | 11/17/2008 - 1:46am
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?
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By:
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Catherine Brock - MortgageLoan.com | 11/17/2008 - 1:51am
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?
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By:
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Catherine Brock - MortgageLoan.com | 11/15/2008 - 9:33pm
The federal deficit reached a record high point for fiscal year 2008, and all signs say that fiscal 2009 will be even worse.
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By:
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Tom Kerr - MortgageLoan.com | 11/14/2008 - 1:22am
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.
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By:
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Catherine Brock - MortgageLoan.com | 11/13/2008 - 1:10am
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.
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By:
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Catherine Brock - MortgageLoan.com | 11/12/2008 - 1:59am
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.
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By:
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Bill Rice - MortgageLoan.com | 11/10/2008 - 1:05am
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.
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By:
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Tom Kerr - MortgageLoan.com | 11/09/2008 - 1:52am
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.
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By:
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Tom Kerr - MortgageLoan.com | 11/09/2008 - 1:55am
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.
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By:
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Tom Kerr - MortgageLoan.com | 11/08/2008 - 1:22am
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.
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By:
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Greg Mischio - MortgageLoan.com | 11/07/2008 - 2:06pm
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.
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By:
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Tom Kerr - MortgageLoan.com | 11/06/2008 - 1:02am
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.
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By:
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Catherine Brock - MortgageLoan.com | 11/05/2008 - 1:48am
The combination of declining revenues, increasing expenses, and insufficient access to capital is a deadly one for local municipalities.
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By:
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Catherine Brock - MortgageLoan.com | 11/05/2008 - 1:39am
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.
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By:
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Catherine Brock - MortgageLoan.com | 11/04/2008 - 1:47am
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.
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By:
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Catherine Brock - MortgageLoan.com | 11/02/2008 - 6:21pm
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.
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By:
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Tom Kerr - MortgageLoan.com | 11/02/2008 - 1:06am
The $700 billion economic stabilization bill that just passed Congress may not save the stock market or revive the economy. However, through loan modifications and modified refinance initiatives, it could rescue lots of homeowners who are at risk of losing their homes to bank foreclosure.
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By:
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Catherine Brock - MortgageLoan.com | 11/01/2008 - 1:00am
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.
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By:
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Catherine Brock - MortgageLoan.com | 10/31/2008 - 1:37am
The Hope for Homeowners foreclosure prevention program offers a solution for at-risk homeowners.
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By:
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Tom Kerr - MortgageLoan.com | 10/30/2008 - 1:38am
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.
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By:
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Catherine Brock - MortgageLoan.com | 10/27/2008 - 3:38pm
As consumers demand alternatives to traditional bank lending, more and more companies are getting into the person-to-person lending business.
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By:
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Tom Kerr - MortgageLoan.com | 10/23/2008 - 1:51pm
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.
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By:
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Catherine Brock - MortgageLoan.com | 10/22/2008 - 12:56pm
While oversized and overextended financial firms get all the attention, small business owners are quietly struggling to get by.
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By:
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Tom Kerr - MortgageLoan.com | 10/21/2008 - 12:29pm
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.
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By:
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Catherine Brock - MortgageLoan.com | 10/16/2008 - 12:11am
A second job can improve your income, but it might not make your life any easier.
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By:
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Catherine Brock - MortgageLoan.com | 10/15/2008 - 12:13am
Bad financial news piled upon more bad financial news might have you worried about your 401(k) funds.
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By:
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Catherine Brock - MortgageLoan.com | 10/14/2008 - 12:56am
Mortgage rates have declined in recent weeks, but that doesn't mean lenders are working around the clock to qualify borrowers and fund loans.
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By:
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Tom Kerr - MortgageLoan.com | 10/14/2008 - 12:53am
While Wall Street and Main Street compete in a tug-o-war over the mortgage bailout plan, average Americans wonder how the colossal expenditure will impact their personal finances. It's too soon too to predict the overall outcome, but some good and bad consequences are inevitable.
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By:
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Catherine Brock - MortgageLoan.com | 10/11/2008 - 3:05pm
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.
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By:
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Tom Kerr - MortgageLoan.com | 10/10/2008 - 2:56pm
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.
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By:
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Tom Kerr - MortgageLoan.com | 10/10/2008 - 2:50pm
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.
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By:
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Greg Mischio - MortgageLoan.com | 10/08/2008 - 2:28pm
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.
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By:
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Tom Kerr - MortgageLoan.com | 10/06/2008 - 4:49pm
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.
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By:
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Catherine Brock - MortgageLoan.com | 10/05/2008 - 4:43pm
Fannie Mae and Freddie Mac have given the U.S. presidential candidates another economic issue to argue.
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By:
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Tom Kerr - MortgageLoan.com | 10/02/2008 - 4:17pm
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.
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By:
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Greg Mischio - MortgageLoan.com | 10/01/2008 - 4:09pm
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.
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By:
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Catherine Brock - MortgageLoan.com | 09/29/2008 - 2:26pm
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.
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By:
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Greg Mischio - MortgageLoan.com | 09/27/2008 - 12:37am
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.
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By:
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Catherine Brock - MortgageLoan.com | 09/26/2008 - 12:27am
The federal government has unleashed the FHA to help at-risk mortgage borrowers keep their homes.
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By:
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Catherine Brock - MortgageLoan.com | 09/25/2008 - 12:53am
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?
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By:
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Catherine Brock - MortgageLoan.com | 09/22/2008 - 12:30am
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.
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By:
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Catherine Brock - MortgageLoan.com | 09/16/2008 - 12:53am
The Housing and Economic Recovery Act of 2008 shuts off an important form of funding for some homebuyers.
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By:
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Tom Kerr - MortgageLoan.com | 09/15/2008 - 12:38am
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.
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By:
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Catherine Brock - MortgageLoan.com | 09/14/2008 - 12:28am
Mortgage reform is a hot topic these days, particularly as the presidential campaign gain's momentum.
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By:
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Tom Kerr - MortgageLoan.com | 09/11/2008 - 12:11am
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.
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By:
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Catherine Brock - MortgageLoan.com | 09/10/2008 - 12:55am
Foreclosure isn't just for the mainstream population; celebrities are getting hit with mortgage problems, too.
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By:
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Greg Mischio - MortgageLoan.com | 09/07/2008 - 12:32am
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.
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By:
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Catherine Brock - MortgageLoan.com | 09/06/2008 - 12:26am
A California bill seeks to establish protections for renters whose landlords aren't staying current with their mortgage payments.
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By:
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Catherine Brock - MortgageLoan.com | 09/05/2008 - 12:02am
Conforming loan limits may have changed, but lenders are still treating jumbo loans like damaged goods.
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By:
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Greg Mischio - MortgageLoan.com | 09/04/2008 - 12:43am
The recent upheaval in the subprime mortgage market has made borrowers skittish about using adjustable-rate mortgages. With current 30-year fixed mortgage rates low, and home values still sinking, many homeowners are opting for a fixed-rate product.
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By:
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Catherine Brock - MortgageLoan.com | 09/03/2008 - 12:02am
Green mortgages are giving homeowners incentives to go green, one home at a time.
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By:
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Tom Kerr - MortgageLoan.com | 09/02/2008 - 12:02am
Just when we were getting used to the subprime crisis, lenders are now reporting record defaults and foreclosures related to prime mortgages. The trend indicates that the ongoing housing crisis isn't seeing any light at the end of the tunnel. Instead, we might be heading for another train wreck.
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By:
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Catherine Brock - MortgageLoan.com | 09/01/2008 - 12:03am
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?
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By:
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Catherine Brock - MortgageLoan.com | 08/31/2008 - 12:12am
The housing stimulus package giveth and taketh; a tax-saving strategy used by the wealthy will soon be cut off to offset the costs of other tax breaks included in the stimulus package.
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By:
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Tom Kerr - MortgageLoan.com | 08/31/2008 - 12:25am
Mortgage insurance, commonly referred to as PMI or private mortgage insurance, plays a small but important role in our real estate economy. Because the insurance protects investors, it translates into more affordable and accessible loans for those Americans wanting to buy homes.
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By:
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Tom Kerr - MortgageLoan.com | 08/29/2008 - 12:07am
Current interest rates are holding steady, but daily pressure to keep mortgage rates low is wearing thin because of today's weak-dollar economy. Most experts agree that it's not a question of if-but when-today's rates will rise.
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By:
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Tom Kerr - MortgageLoan.com | 08/29/2008 - 12:13am
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.
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By:
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Bill Rice - MortgageLoan.com | 08/28/2008 - 12:18am
In late mortgage market news, Fannie Mae's CEO and board of directors announced a shuffling of the executive suite. No doubt these moves were to restore confidence in the rapidly falling mortgage finance giant.
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By:
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Catherine Brock - MortgageLoan.com | 08/26/2008 - 12:42am
The 40-year mortgage may have a place in your finances, as long as you know both its good and bad sides.
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By:
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Catherine Brock - MortgageLoan.com | 08/20/2008 - 12:58am
The 40-year mortgage may have a place in your finances, as long as you know both its good and bad sides.
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By:
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Tom Kerr - MortgageLoan.com | 08/20/2008 - 12:56am
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.
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By:
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Greg Mischio - MortgageLoan.com | 08/14/2008 - 12:53am
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.
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By:
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Tom Kerr - MortgageLoan.com | 08/13/2008 - 12:46am
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.
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By:
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Catherine Brock - MortgageLoan.com | 08/13/2008 - 12:49am
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.
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By:
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Catherine Brock - MortgageLoan.com | 08/12/2008 - 12:36am
You don't need a mortgage expert or special advisor to help you pay back your mortgage early.
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By:
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Tom Kerr - MortgageLoan.com | 08/12/2008 - 12:06am
Even the most well-intentioned ideas will fail if they're poorly executed. The Good Faith Estimate (GFE) is a perfect example. Created to provide consumers with some solid numbers in the mortgage process, it often results in confusion instead of clarity.
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By:
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Tom Kerr - MortgageLoan.com | 08/11/2008 - 12:03am
New mortgage rules governing the practices of mortgage lenders have been adopted and will go into effect about 18 months from now. They promise to protect consumers in ways that are long overdue, while simultaneously safeguarding the nation against a repeat of the subprime mortgage crisis.
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By:
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Catherine Brock - MortgageLoan.com | 08/05/2008 - 12:22am
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.
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By:
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Tom Kerr - MortgageLoan.com | 08/05/2008 - 12:14am
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.
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By:
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Catherine Brock - MortgageLoan.com | 07/31/2008 - 12:26am
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.
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By:
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Tom Kerr - MortgageLoan.com | 07/30/2008 - 12:20am
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.
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By:
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Catherine Brock - MortgageLoan.com | 07/30/2008 - 12:23am
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.
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By:
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Tom Kerr - MortgageLoan.com | 07/29/2008 - 12:10am
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.
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By:
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Tom Kerr - MortgageLoan.com | 07/24/2008 - 12:19am
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.
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Tom Kerr - MortgageLoan.com | 07/23/2008 - 12:11am
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.
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Greg Mischio - MortgageLoan.com | 07/23/2008 - 12:16am
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.
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Catherine Brock - MortgageLoan.com | 07/21/2008 - 12:32am
Household pets are feeling the sting of foreclosure, too, as families move out and leave their furry friends behind.
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Tom Kerr - MortgageLoan.com | 07/17/2008 - 12:28am
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.
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Tom Kerr - MortgageLoan.com | 07/16/2008 - 12:17am
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.
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Tom Kerr - MortgageLoan.com | 07/16/2008 - 12:03am
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.
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Catherine Brock - MortgageLoan.com | 07/15/2008 - 12:51am
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.
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Catherine Brock - MortgageLoan.com | 07/13/2008 - 12:08am
The Home Ownership and Equity Protection Act targets predatory lending practices.
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Catherine Brock - MortgageLoan.com | 07/09/2008 - 12:51am
A changed reality of volatile mortgage rates and low demand in the real estate world is seeping its way into reality television.
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Tom Kerr - MortgageLoan.com | 07/09/2008 - 12:42am
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.
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Tom Kerr - MortgageLoan.com | 07/08/2008 - 9:38am
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.
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Tom Kerr - MortgageLoan.com | 07/08/2008 - 12:34am
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.
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Catherine Brock - MortgageLoan.com | 07/06/2008 - 12:00am
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.
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Greg Mischio - MortgageLoan.com | 07/03/2008 - 12:17am
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.
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Tom Kerr - MortgageLoan.com | 07/01/2008 - 12:53am
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.
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Catherine Brock - MortgageLoan.com | 06/29/2008 - 12:14am
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.
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Greg Mischio - MortgageLoan.com | 06/26/2008 - 12:50am
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.
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Tom Kerr - MortgageLoan.com | 06/25/2008 - 12:44am
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.
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Tom Kerr - MortgageLoan.com | 06/25/2008 - 12:41am
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.
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Catherine Brock - MortgageLoan.com | 06/25/2008 - 12:36am
You have an edge in getting that loan approval when you know what lenders are looking for in your loan application.
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Tom Kerr - MortgageLoan.com | 06/17/2008 - 12:45am
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.
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Tom Kerr - MortgageLoan.com | 06/17/2008 - 12:42am
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.
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Anders Bylund - MortgageLoan.com | 06/11/2008 - 12:12am
Some jobs are always safe, even in times of economic turmoil. Maybe one of them should be in your future.
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Tom Kerr - MortgageLoan.com | 06/11/2008 - 12:09am
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.
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Catherine Brock - MortgageLoan.com | 06/11/2008 - 12:02am
If you've already started searching for a mortgage-stop! There are some folks you need to meet first.
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Tom Kerr - MortgageLoan.com | 06/10/2008 - 12:53am
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.
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Catherine Brock - MortgageLoan.com | 06/09/2008 - 12:32am
Recent increases in defaulted mortgage loans may present opportunities for homebuyers looking for deals, but purchasing a foreclosed home can be a touchy situation.
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Tom Kerr - MortgageLoan.com | 06/09/2008 - 12:24am
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.
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Anders Bylund - MortgageLoan.com | 06/05/2008 - 1:34am
Whether for love or money, the pressures of the current financial climate have taken their toll on relationships across the country.
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Greg Mischio - MortgageLoan.com | 06/05/2008 - 1:33am
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.
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Tom Kerr - MortgageLoan.com | 06/04/2008 - 1:14am
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.
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Greg Mischio - MortgageLoan.com | 06/04/2008 - 1:18am
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.
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Catherine Brock - MortgageLoan.com | 06/04/2008 - 1:24am
Freddie Mac and Fannie Mae are quasi-governmental agencies that were originally established to help you accomplish your financial goals.
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Catherine Brock - MortgageLoan.com | 05/29/2008 - 1:25am
Knowing whether your commitment letter is firm or conditional can spare you from some ugly surprises.
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Tom Kerr - MortgageLoan.com | 05/28/2008 - 1:12am
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.
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Anders Bylund - MortgageLoan.com | 05/26/2008 - 1:46am
Celebrities may not be rich forever. The foreclosure wave is an equal opportunity tsunami.
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Catherine Brock - MortgageLoan.com | 05/22/2008 - 1:25am
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.
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Tom Kerr - MortgageLoan.com | 05/21/2008 - 1:21am
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.
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Tom Kerr - MortgageLoan.com | 05/20/2008 - 1:13am
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.
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Greg Mischio - MortgageLoan.com | 05/19/2008 - 1:00am
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.
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Catherine Brock - MortgageLoan.com | 05/19/2008 - 1:04am
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?
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Greg Mischio - MortgageLoan.com | 05/13/2008 - 1:12am
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.
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Tom Kerr - MortgageLoan.com | 05/12/2008 - 1:52am
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.
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Catherine Brock - MortgageLoan.com | 05/06/2008 - 1:26am
Don't let the gloomy mortgage news scare you; buying your first home is still a step-by-step process.
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Tom Kerr - MortgageLoan.com | 05/06/2008 - 1:24am
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.
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MortgageLoan.com - MortgageLoan.com | 05/06/2008 - 1:44am
Designed to provide millions of U.S. veterans and their families with affordable housing, the VA loan emerged through the GI Bill of Rights, which was signed off in 1944 by President Roosevelt. The Bill not only eliminated down payment on a house for veterans, but has also contributed to their welfare and the growth of the nation's economy more than any other program in history.
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Greg Mischio - MortgageLoan.com | 05/05/2008 - 1:13am
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.
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Tom Kerr - MortgageLoan.com | 05/05/2008 - 1:18am
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.
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Catherine Brock - MortgageLoan.com | 04/30/2008 - 4:32pm
After suffering through a foreclosure, you're faced with rebuilding your life and your credit profile, one step at a time.
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Tom Kerr - MortgageLoan.com | 04/29/2008 - 4:30pm
New mortgage rules have sprung up during the past few months, inspiring intense debate and controversy. Hopefully, some will actually protect consumers and taxpayers.
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Catherine Brock - MortgageLoan.com | 04/25/2008 - 1:07am
Learn how to raise the money you need by leveraging your home with a cash back mortgage refinance loan.
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Tom Kerr - MortgageLoan.com | 04/22/2008 - 1:45am
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.
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Tom Kerr - MortgageLoan.com | 04/21/2008 - 1:41am
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.
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Tom Kerr - MortgageLoan.com | 04/14/2008 - 1:42am
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.
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Tom Kerr - MortgageLoan.com | 04/08/2008 - 1:12am
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.
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Tom Kerr - MortgageLoan.com | 04/03/2008 - 1:24am
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.
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MortgageLoan.com - MortgageLoan.com | 03/28/2008 - 2:56am
While most Americans may have been lulled into a false sense of security by heavy borrowing, they're about to rocked by the harsh realities of the credit crunch as recent figures show they owe a staggering $1.1 trillion on home equity loans.
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MortgageLoan.com - MortgageLoan.com | 03/27/2008 - 2:53am
The fun and games continue at Bear Stearns where a handful of over-excited protestors got into the troubled investment bank's Manhattan offices during a spirited protest of the government's rush to aid the securities firm.
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MortgageLoan.com - MortgageLoan.com | 03/26/2008 - 2:33am
It's widely acknowledged that housing is a key component of the economy. In fact, housing represents 15.2 percent of the U.S gross national product so worried glances must have been exchanged when a recent survey released earlier today revealed home prices in 20 U.S metropolitan areas fell in January by the most on record.
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Tom Kerr - MortgageLoan.com | 03/26/2008 - 2:33am
"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.
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Greg Mischio - MortgageLoan.com | 03/25/2008 - 2:29am
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.
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Catherine Brock - MortgageLoan.com | 03/17/2008 - 2:47am
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.
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Catherine Brock - MortgageLoan.com | 03/12/2008 - 2:18am
Even though workout programs are becoming more common, many homeowners still avoid contacting their lenders when they can't make their mortgage payments.
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Tom Kerr - MortgageLoan.com | 03/11/2008 - 2:14am
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.
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Catherine Brock - MortgageLoan.com | 03/04/2008 - 2:43am
Second mortgage rates are dropping, but lenders are tightening up the qualification requirements for home equity loans and lines of credit.
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Tom Kerr - MortgageLoan.com | 02/24/2008 - 2:15am
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.
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Tom Kerr - MortgageLoan.com | 02/14/2008 - 2:15am
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.
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Tom Kerr - MortgageLoan.com | 01/29/2008 - 2:19am
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.
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Tom Kerr - MortgageLoan.com | 01/25/2008 - 2:14am
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.
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Tom Kerr - MortgageLoan.com | 01/09/2008 - 2:14am
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.
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Greg Mischio - MortgageLoan.com | 01/04/2008 - 2:15am
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.
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Tom Kerr - MortgageLoan.com | 01/02/2008 - 2:12am
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.
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