mortgage Archives - Page 3 of 3

New Mortgage Rules Change the Game For Brokers, Consumers

February 25, 2011 / CreditSesame.com

April 1st may be “All Fools Day” but the federal government isn’t joking about the new mortgage broker compensation rule that takes effect on the same day. This new rule from the Federal Reserve will dramatically change the role mortgage brokers play in the home buying process.

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How To

Reverse Mortgages Explained

February 22, 2011 / Minyanville.com

About half a million Americans aged 62 or older hold a reverse annuity mortgage today, according to the U.S. Department of Housing and Urban Development (HUD). As more Americans move into this age group, the volume will increase as well. But exactly what is a reverse mortgage and how does it work?

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Financial Goals

The Real Cost of Your Debt

October 6, 2010 / CreditSesame.com

Whether it’s a mortgage, a student loan, a car loan — or the good (bad) old credit card debt, most Americans at some point in their lives borrow. And when that time comes for you, it pays off — literally — to understand how much that debt truly costs you. That means you shouldn’t just look at your monthly payment or the original amount you’ve borrowed.

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Credit Info

The Truth About Short Sales and Their Impact on Your Credit

September 27, 2010 / John Ulzheimer

Short sales are a relatively new phenomenon and because of this there’s an incredible amount of misinformation about the impact to your credit. Some people are even going so far as to say that a short sale is neutral to your credit, which is incorrect.

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Financial Goals

The Real Problem With Mortgage Refinancing

June 24, 2010

I’d like to share our latest refi experience: a story in which two homeowners with perfect credit, payment history and a property that, miraculously, had retained its value through the housing bust, were almost unable to refinance due to a string of clerical errors and delays at the bank.

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Financial Goals

Scraping Pavement: Mortgage Rates Hit New Lows

November 30, 2009 / Joshua Ritchie

The ups and (mostly) downs of the housing market, combined with tax incentives have left many wondering whether or not now might be a good time to finally buy that dream home. Average interest rates on thirty year mortgage loans have plummeted once more, falling a full percentage point below the lowest rate at any time last year.

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Financial Goals

The Essential Reverse Mortgage Factsheet

November 18, 2009 / WallStats.com

With recent government regulations in place, the Reverse Mortgage is a financial instrument set to explode with the wave of retiring baby boomers. These mortgages not only affect the borrower, but their heirs as well, so it’s important to understand the ins and outs of process and product. The Reverse Mortgage can be a lifesaver for some, but is not for everyone. This factsheet will show you how it works.

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Financial Goals

First-Time Home Buyer Mistakes

October 27, 2009 / AskMen.com

Photo: kid_proquo If you’re a first-time home buyer you might be interested to know that Dan Marino’s 10-bedroom, 12-bathroom mansion in Weston, Florida, is up for sale for $13.5 million. Marino originally listed the home in 2006 for $15.9 million,...

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Trends

Should You Walk Away From Your Home?

December 3, 2008 / Jason Lankow

Despite the struggle, most responsible homeowners don’t think twice about whether they should make the mortgage payment each month. You’ve worked like crazy to stay on top of bills for years. You may have already fought your way back from bad credit and don’t want to let your credit score sink again. Whether you choose to fight and stay in your home for the long-haul, or you have given it your all and just can’t bear the crushing weight anymore, it’s important to know that there are better options than simply abandoning your home before you are late on the payments.

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Saving

Budgeting Your Money and The Financial Benefits of a Fixed-Rate Mortgage

July 18, 2007 / Ehab Bandar

What are the benefits of using fixed-rate mortgage in purchasing or refinancing your home? If you are in an adjustable-rate loan, should you consider refinancing and getting out of it while you still can – before interest rates get too high and home values drop?

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