Pay Down Your Mortgage…Or Not

Many homeowners are faced with question of whether it’s a good idea to pay down their mortgage if they have some extra money. The benefits are many. Most importantly, you can reduce the length of your loan. If you simply make an extra payment or two, especially early in the loan, you [...]

Home Mortgage Refinancing Redux

The recession has certainly caused more than just a bit of pain for consumers and especially for home owners. However, as a result of mortgage rates that continue to fall and have reached some of the lowest rates seen in a long time, it is becoming a perfect time to refinance.
The great difficulty at [...]

HARP Loan Refinance Program

The HARP loan program, (Home Affordable Refinance Program), has received quite a bit of press recently, but is largely considered to be a failure, at least at this point.
The HARP program was designed to help some 4 to 5 million homeowners refinance their mortgages in order to reduce their payments and stay in their homes. [...]

Home Refinance with Bad Credit

Considering that many homeowners either locked into a high mortgage rate years ago or find themselves in an ARM that is about to change their rate for the worse, a bad credit mortgage refinance might be a great option. One of the most convenient and painless ways to refinance your home mortgage, even if [...]

New Fed Plan for Risky Lending

The Fed has recently approved a plan that would make mortgage lenders more thoroughly verify that lenders can actually afford the mortgages they take. Additionally, mortgage companies would have to completely reveal any sales fees that were hidden and then rolled into the interest payments. The New York Times reports, “The proposed changes, which do [...]

Mortgage Shopping

When I was looking for a house about a year ago, I also spent a lot of time trying to find a good deal on mortgage loans. It wasn’t nearly as easy as it seemed. There were hundreds of sites to look for information and to get quotes, but I could never dig too [...]

The Federal Funds Rate and Mortgage Rates

Well, the big news yesterday was the FOMC’s decision to lower the target rate for the Fed funds rate 25 basis points from 4.75% to 4.5%. Many homeowners, or potential homeowners, looking to either refinance or get into a new mortgage might think that this is good news for them as it surely means [...]

The Truth About Mortgage

I’ve been posting recently about some of the problems in the real estate world and I’ve found it’s extremely relevant to personal finance right now. The credit market woes and in particular the sub-prime mortgage fiasco has affected all of the markets and basically the entire economy. In order to better understand the implications within [...]

Finding a Good Mortgage

The recent shake-up in the credit markets has really changed the mortgage world. The salad days of the last few years are now behind us as mortgage companies batten down the hatches and work through these lean times. However, the world marches on, and people still need to find mortgages. Whether you need to [...]

A New Time For Loans

The last couple of months have been a rough time for both lenders and borrowers as the credit markets have been in a bit of turmoil. The fact remains, however, people still need cheap mortgages and they still occasionally need loans. If you’re in the market for some financing you can’t really let the fact [...]

Refinance Your Property Online

By refinancing your property online you can take advantage of competitive rates in the convenience of your home. You should consider refinancing your property if interest rates are lower, your financial situation has improved, or your credit rating has improved. Once you are ready to refinance, search for lenders� rates online for easy comparison shopping.
When [...]

Choosing The Right Lender

The real estate market has been hot for many years. The real estate market stayed hot even though the economy has been on a virtual roller coaster. This has resulted in a large number of mortgage lenders entering the market with varying mortgage programs for people with different economic backgrounds and credit histories.

Mortgage Glossary

Here is a glossary of mortgage related terms.

When Not To Agree To A Home Equity Loan

Before you borrow money on your home’s equity, think twice so you don’t end up paying more than you expected.
According to the Federal Trade Commission, homeowners-particularly elderly, minority and those with low incomes or poor credit should be careful when borrowing money based on their home equity. Certain abusive or exploitative lenders target these borrowers, [...]

Self Employed Mortgage Loans – A Survival Guide

When you’re self employed you have numerous advantages. As you are a free agent, you will write off every deduction you can on your tax return. You acquire the potential to earn extra income much more so than someone who is employed by someone else. The best part is that you are the gaffer, the [...]

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