Mortgage Articles

Finance » Mortgage | By Chris Esposito @ Thursday, 24th July 2008 @ 6:45 PM

Owner builders save themselves a lot of money by managing the construction of their homes and cutting out the costs of a general contractor. However, for owner builders who have never built before, there is a very important lesson to learn about the owner builder loan timeline before getting too far into the planning process. Owner builders need to be realistic about their planning timeline and the construction loan timeline; or else they can cost themselves a lot of money and headaches. ... more...

Finance » Mortgage | By Anthony Dean @ Thursday, 24th July 2008 @ 5:40 PM

Stated income home loans are now a thing of the past as Fannie Mae and Freddie Mac suffer with more defaults. Now consumers must qualify with full documentation and won't be able to qualify due to debt to income ratios. This will affect over 70% of California and Florida homeowners needing to refinance their adjustable rate mortgage as well as many more across the country. With so many people facing rate adjustments this year the only choice may be a work out with their lender or f... more...

Finance » Mortgage | By Anna Stenning @ Thursday, 24th July 2008 @ 12:34 PM

With the current fear of the house price crash, it is no wonder that people, couples, families and professionals are desperately seeking to sell their property in a bid to recoup some money. This may seem like a gloomy time for many struggling and hard working individuals, especially for those who have purchased their own house in hopes of making money from their investments. With the economy moving in the direction that it is, what could potential mortgage seekers do to qualify for a mortgage?<... more...

Finance » Mortgage | By Ferdie Frederic @ Wednesday, 23rd July 2008 @ 1:31 PM

As of Monday July 14th, 2008, the government has passed new laws which cause a decent amount of change within the mortgage industry and how these companies give out loans to homeowners. Even though they were passed on Monday, these rules wont take effect until October 2009 to give time for companies to transition to the new set of standards. The concept being birthed in 2007, was in response to the treatment homeowners were facing from mortgage companies and to the foreclosure crisis that... more...

Finance » Mortgage | By Laura Watkins @ Tuesday, 22nd July 2008 @ 11:55 AM

The nation is all a buzz with talk of the housing market, and chances are, you've seen foreclosures popping up all over the place--including your own neighborhood. It's not a short-term problem (foreclosure rates having been climbing for some time now), and people are beginning to investigate to determine who is really at fault. Who is really to blame--the mortgage industry, predatory lending schemes, the unsuspecting and uninformed homebuyer, or maybe a combination of the above? It... more...

Finance » Mortgage | By Michael Branson @ Tuesday, 22nd July 2008 @ 4:19 AM

Life doesn't hold too many real guarantees anymore. Seniors work hard their whole lives and expect to receive a pension and often those pension funds aren't available or the company closes and the individual is left looking for work late in life with no pension at all, starting over. Borrowers go to their local banks and get Home Equity Lines of Credit so that they will have cash available when they need it, but then banks freeze those lines due to falling values or bank liquid... more...

Finance » Mortgage | By Ki Gray @ Monday, 21st July 2008 @ 11:02 PM

So what has been going on in the world of finance and mortgages? Certainly the biggest news was the fall of IndyMac. Last week we heard that IndyMac had stopped giving out new mortgage loans and was going to concentrate on simply servicing the existing loans in its portfolio. Apparently this was due to the fact that regulators felt that IndyMac was not adequately capitalized. Many experts speculated that the days of IndyMac were numbered and might not last the year. They were right ... more...

Finance » Mortgage | By Julian Keskin @ Thursday, 17th July 2008 @ 9:16 PM

If you are considering buying a new home, then you may already know that there are many requirements that potential home buyers must meet. One such requirement is private mortgage insurance. Private mortgage insurance, or PMI as it is commonly called, is a form of insurance that is designed to provide protection for the lender against non-payment, should the borrower default on a mortgage loan. The primary benefactor of mortgage insurance is the lender. There are no protections afforded t... more...

Finance » Mortgage | By Brian Higdon @ Thursday, 17th July 2008 @ 10:26 AM

Many homeowners, when they cannot pay their mortgages, stop reading letters from their lender and ignore phone calls regarding their mortgage. In essence, these homeowners simply give up and decide that the bank is going to take their home, and there is nothing they can do about it. The fact is, the bank doesn't want your house. What they want is for you to pay your mortgage, and if they can help you do that, many lenders will. True, many lenders right now are in bad shape themselves... more...

Finance » Mortgage | By Jeffrey Langfels @ Thursday, 17th July 2008 @ 4:16 AM

No one ever purchases a home with the desire of defaulting on the mortgage, but it does happen. Many situations can result in a bank foreclosure on a property, including medical emergencies, loss of a job or divorce. If you are in a position where your mortgage payments cannot be met, it is important to contact your lending institution right away to see what can be done about avoiding a bank foreclosure. The best way to get a handle on the situation is to understand exactly how the foreclosure p... more...

Finance » Mortgage | By Catherine Harvey @ Wednesday, 16th July 2008 @ 10:06 PM

With British people yearning for a second home, holiday home or oversees property investment, leaseback properties are becoming a favoured option. A property purchased in France which can then be let for the use of students, the elderly or business people is a wise investment as once the mortgage is paid, you are then free to use the property as a holiday or retirement home, having reaped the rewards that accompany a leaseback property. Leaseback properties in France have many financial b... more...

Finance » Mortgage | By Andrew Stratton @ Wednesday, 16th July 2008 @ 1:53 AM

Buying a home is probably the most expensive investment you will make in your life, so how you pay for it is a monumental decision. There are so many products available to home buyers, you really have to do your homework before deciding on one mortgage. Here's what you need to know when shopping for a mortgage for your new piece of real estate: Know your credit report and credit score. Yes, this number is really important. It affects the rate and amount you get to borrow or if... more...

Finance » Mortgage | By Koz Huseyin @ Tuesday, 15th July 2008 @ 7:41 PM

For many years, if you wanted a mortgage to get a home, the kind of mortgage lender you would visit was a bank. Today thanks to competition, the benefits of getting a mortgage from other mortgage financing companies can really benefit you. Banks are in the main, pretty stable financial institutions. Banks deal with money, and they profit from activities such as offering mortgages to private individuals, and offering banking for corporations. As such as most banks offer free private bankin... more...

Finance » Mortgage | By Ranju Kumar @ Saturday, 12th July 2008 @ 4:48 AM

It wasn't so long ago that it felt like anyone who wanted to have the money that they would need for a home. Homes were flying off of the market, and just about everyone was getting into it. However, with the downturn of the economy and with other problems, the amount of people who are now dealing with mortgage foreclosure it as an all time high. There are many important things to know about foreclosure before you think it is the end of the road. First of all, you aren't alone. ... more...

Finance » Mortgage | By Marjorie Salada @ Saturday, 12th July 2008 @ 4:29 AM

If you are considering a reverse mortgage, at some point in time you will be using a reverse mortgage calculator. Before we get into the reverse mortgage calculator, an over view of a reverse mortgage is necessary. Reverse mortgages have actually been around for a while, but have grown in popularity in recent years. This is mostly due to the cost of retirement increasing. This type of financing is available to seniors 62 years of age or older. Simply put, a reverse mortgage draws the equi... more...

Finance » Mortgage | By Brian Armstrong @ Thursday, 10th July 2008 @ 8:20 PM

Here are a few of the steps you'll want to go through to get started with a reverse mortgage. Keep in mind that these types of loans are not necessarily for everybody, but they can be a great source of funding when seniors are in need of additional income. 1. Becoming Aware: Because reverse mortgages are relatively new, there are a lot of people that don't know much about them. Although the media including newspaper, tv, radio, etc. are reporting more on stories about reverse mo... more...

Finance » Mortgage | By Anna Stenning @ Thursday, 10th July 2008 @ 12:13 PM

Getting a mortgage for most people looking to buy a house for the first time is something that most people are struggling to obtain. Currently house prices are looking to go down in price, but they are leaning towards the more expensive side and many people are unable to qualify for buying their own house. Others prefer to wait until there really is a house price crash, which will enable them to jump at the chance of buying their own place. Applying for a mortgage is a daunting process th... more...

Finance » Mortgage | By Sal Farzin @ Wednesday, 9th July 2008 @ 2:25 AM

Many homeowners these days are going through the mortgage foreclosure process. Most of them usually end up filing for bankruptcy in an attempt to save their properties from being auctioned off. The bankruptcy option is actually the process least understood by a lot of homeowners. It is also the least popular at that. However, this option can actually provide a ray of hope for mortgage foreclosure victims. There maybe drawbacks in filing for it in one way or the other. But it may actually save yo... more...

Finance » Mortgage | By Sal Farzin @ Wednesday, 9th July 2008 @ 2:23 AM

The mortgage foreclosure process can be quite overwhelming for a lot of people. Especially, if they themselves are facing this type of situation. In this article, we'll cover the steps that the lenders can take as far as the mortgage foreclosure process is concerned. This may vary from state to state. The laws as to the conditions involved in the filing of the Notice of Default can be different in every state. Here are examples of the mails you could receive should you miss a mortgage paym... more...

Finance » Mortgage | By Brian Armstrong @ Wednesday, 9th July 2008 @ 1:24 AM

Reverse mortgages are used to assist seniors who want to supplement their income with mortgage payments, but instead of paying the bank, those who take out the loan actually get paid. I spoke with someone the other day who had a completely mistaken concept of what these are used for and had the mistaken idea that these were simply a tool that ended up scamming seniors out of their retirement. I heard it explained this way: Reverse mortgages are no free lunch which is true, but we also wou... more...