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21 April 2008
With low down payments, relaxed credit requirements and competitive rates, FHA loans are designed to meet the needs of first-time homebuyers and other buyers whose credit or finances might make it difficult to qualify for a conventional mortgage.
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8 April 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.
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26 March 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.
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12 March 2008
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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4 March 2008
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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14 February 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.
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29 January 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.
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25 January 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.
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2 January 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.
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27 December 2007
Bankruptcy specialists contend that some mortgage companies are overcharging borrowers, even as those homeowners face foreclosure.If these claims are true, it only adds insult to injury as more predatory lending practices come to light.
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23 December 2007
The overzealous lending practices that led to rising default rates are influencing more than just the U.S.economy-they're extending across the ocean, as well.
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14 December 2007
Buyers, developers, and mortgage companies are always looking for creative ways to finance second homes.The "fractional mortgage" has been gaining traction and popularity for more than a decade as an attractive way to buy a vacation property.
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12 December 2007
You've just been notified that your bank has recently sold your mortgage.Although unsettling, this is a very normal business transaction that will not affect your loan.
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17 November 2007
City governments and housing agencies are making homes more affordable by partnering with homebuyers on shared appreciation loans.
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31 October 2007
HUD has issued a moratorium on its practice of insuring mortgages for those who receive so-called down payment assistance from sellers through non profit "gift-giving" entities.
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7 October 2007
Short sales are on the rise as borrowers and lenders struggle to stay afloat during a housing market correction.
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20 September 2007
Mortgage lenders close their doors and lay off employees by the hundreds as the industry's subprime woes continue.
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12 September 2007
With mortgage companies dropping like flies thanks to massive numbers of bad loans, it's surprising to find that one has attracted a well-heeled investor.Countrywide may be in financial trouble, but Bank of America apparently views it as an undervalued bargain.
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2 July 2007
In a sluggish market, desperate real estate agents and mortgage brokers may pressure appraisers to artificially increase property values.But the tactic can backfire if mortgage underwriters cancel loans because they think the sales prices are too high to be justified.
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21 June 2007
Today's kids find it increasingly difficult to finance a first home.Parents, motivated by a desire to provide financial security for their children, are helping with a so-called "parents-backed mortgage.
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