Personal Finance Articles

How Your FICO Credit Score Works

By:
Kirk Haverkamp - MortgageLoan.com | 01/21/2010 - 3:00am

Everyone knows that you need a good credit score to qualify for a mortgage and get the best interest rates. But how are credit scores determined? What, if anything, can you do to improve a poor one?

Mortgage and Home Ownership Tax Deductions

By:
Kirk Haverkamp - MortgageLoan.com | 12/03/2009 - 1:39am

The $8,000 first-time homebuyer tax credit and recently added $6,500 credit for repeat buyers have been getting all the attention. But those are only the beginning of the tax benefits available to those who buy their own homes.

Personal Spending Falls Even as GDP Rises

By:
Kirk Haverkamp - MortgageLoan.com | 10/30/2009 - 1:05am

Personal incomes and spending fell in September, even as a rise in the gross domestic product has economists declaring that the recession has ended.

Six Bad Reasons Not to Seek Foreclosure Assistance

By:
Kirk Haverkamp - MortgageLoan.com | 10/01/2009 - 12:56am

With the economy in the shape it is, a lot of people need help in obtaining a loan modification or pursing other steps to avoid foreclosure. But while there are a variety of resources to help at-risk borrowers with their mortgages and hold on to their homes, many of them are too intimidated to take advantage of them.

Long-term Affordability in a Loan Modification

By:
Kirk Haverkamp - MortgageLoan.com | 08/21/2009 - 12:45am

Getting a mortgage loan modification can be a big help when you're in tough financial straits. However, the mere fact that you've been able to get a loan mod may not by itself be enough to ensure that you can stave off foreclosure.

Getting a mortgage loan modification can be a big help when you're in tough financial straits. However, the mere fact that you've been able to get a loan mod may not by itself be enough to ensure that you can stave off foreclosure. You have to get a good one that suits your circumstances.

Some Lenders Farming Out Loan Modification Work to Third Parties

By:
Kirk Haverkamp - MortgageLoan.com | 07/29/2009 - 4:09am

An increasing number of mortgage lenders and servicers, mostly smaller ones, are turning to third-party loss mitigation companies to assist them in working out loan modifications for customers who are falling behind on their mortgages.

Administration Considers Mortgage Assistance for Unemployed

By:
Kirk Haverkamp - MortgageLoan.com | 07/27/2009 - 12:21am

Of all the programs the government has put forward to help homeowners avoid foreclosure, none of them do much about the underlying problem of unemployment. But that could be about to change.

Avoiding Foreclosure Avoidance Scams

By:
Kirk Haverkamp - MortgageLoan.com | 07/24/2009 - 2:34am

Bad times, unfortunately, sometimes bring out the worst in people. That's particularly true in the case of scam artists, who tend to proliferate during economic downturns. As the number of homeowners at risk of foreclosure or in other financial difficulty has grown, there's also been an increase in the number of con artists seeking to profit from their misfortune.

Short Sales Can Be an Attractive Alternative to Foreclosure

By:
Kirk Haverkamp - MortgageLoan.com | 07/16/2009 - 1:22am

So you've come to the conclusion that you can't afford your mortgage and you've had no luck trying to work out a refinance or a loan modification. Is there anything you can do other than sit around and await the inevitable? Actually, there is - a short sale.

Foreclosure Avoidance Workshops Offer Quick Help for Mortgage Woes

By:
Kirk Haverkamp - MortgageLoan.com | 07/10/2009 - 3:23am

Wouldn't it be great to solve all your mortgage problems in just a day? There are a lot of horror stories out there about homeowners getting an endless runaround in trying to obtain a loan modification under the government's Making Home Affordable plan, spending weeks trying to get their application approved while their financial situation steadily worsens. But there is a way to get quick help - but you have to be alert for the opportunity.

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