Mortgage Rates at an All-Time Low
The average homeowner has some good news because long term mortgage rates have hit a milestone. Long term mortgage rates have never been lower than right now at 4.01%, up to this point the lowest...
View ArticleBank Earnings Reports Will Tell a Tale of Woe
The mortgage crisis caused misplacement of home owners into houses that they could not afford on there then current salaries. This also made payment to high for those home owners which has led many to...
View ArticleBalloon Mortgages
The balloon mortgage, also called the “non-amortizing mortgage” is a type of fixed rate loan program that does not entail the complete repayment of interest and principal costs. It is similar to...
View ArticleChoosing the Right Mortgage Loan
There are several choices available when you are ready to inquire about a mortgage loan. The language in the financial industry can become confusing, and, if you not familiar with your choices...
View ArticleTips for First Time Home Buyers
Buying a house is a huge decision, and not one to be taken lightly. There are so many things to consider when you are buying. After you have chosen the house you want.../>Read the Rest »
View ArticleHelp for Upside-Down Homeowners?
In 2009 the administration started the “Home Affordable Refinance Program” HARP to stop the tidal wave of homes being foreclosed on. The idea was to let homeowners refinance at lower rates, however...
View ArticleObama’s Lifeline to Underwater Homeowners
Banks have had their share of the blame during the recession as many Americans are still stinging over problems in the housing market. While demand for housing dropped and foreclosures rose due...
View ArticleMiddle Class Gift or Burden: The 30-Year Home Mortgage
The recession has made it clear that if you can’t pay your mortgage for 30 years straight, you’re at risk of foreclosure. This has caused a backlash of people refinancing to lower terms,.../>Read...
View ArticleEconomy Keeps Housing Costs High
While prices are dropping on single family homes, the cost of actually housing your family is rising. The reasons for this are many: tight mortgage lending regulations, unemployment or...
View ArticleA Call to ARMs: Are They Safe Again?
The horror of an Adjustable Rate Mortgage (ARM) during the height of the recession has scared many into never again opting for an ARM. Families were delighted prior to the recession to be.../>Read...
View ArticleDeed-in-Lieu Program Helps Underwater Homeowners
Are you underwater on your home and having trouble selling it short? A new program designed to help underwater homeowners may finally give you relief from your mortgage debt. On March 1st,...
View ArticleShort Sales vs. Foreclosure: Which Way Is Better?
When you’re caught between a financial rock and a hard place, you might not be able to make your mortgage payments. You may find yourself having to make a choice: face foreclosure or.../>Read the...
View ArticleHome Lending Thaws Just in Time for Spring
After the home ownership bubble burst, banks put draconian rules in place for home lending that shut many people out of the market. Not only did home buyers need a 20% down payment to.../>Read the...
View ArticleHomebuyers Rejoice; Mortgage Rates at Record Low
In 1971, the numbers for everything seemed to be much lower. The average house cost $25,000, the average car cost about $3,500, and the interest rate on a 30-year fixed mortgage was 3.31%.../>Read...
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How is an FHA Loan Different from a Mortgage?
A mortgage is a mortgage, right? Borrowing a large sum of money to buy a home is a big step for anybody. But you might have noticed that in the mortgage field there are constant references to “FHA...
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