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Articles by Gretchen Wegrich

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What is a Home Equity Loan?
A home equity loan, also called a second mortgage, is an attractive option for homeowners who've paid off a portion of their mortgage and want to borrow against the equity that has already accumulated.. What is a home equity loan? When you make your mortgage payment,...
Why is credit scoring used?
A credit score is a number consisting of three digits (from 300-850) that denotes a person's creditworthiness. What most people don't know the many ways this number is used to determine their financial status. Your credit score is an important factor used to...
How can I Reduce my Debt?
For some individuals, the dream of being debt free may still be some time off, but the opportunity to drastically reduce their level of debt is within reach. There are many strategies and many options available to enable individuals to begin to reduce their debt.. Debt reduction...
How an Interest Only Mortgage Loan Works
A mortgage is called an interest only mortgage loan when the monthly payment does not include the repayment of principal for a certain amount of time.. How an interest only mortgage loan worksInterest only loans are offered on fixed rate or adjustable rate mortgages as wells as...
Overview of the Mortgage Loan Process
The first step in obtaining a mortgage loan is to determine a reasonable amount of money that you can borrow. You will be able to do this with a pre-approval from your lender. Most Realtors will want you to be pre-approved before they start providing you with listings or showing...
Bad Credit Mortgage Brokers
Because of the housing market collapse and the subsequent increase in foreclosures, bad credit has become more common. This results in many lenders attempting to capitalize on this new demand. This niche market of bad credit loans requires some experience to navigate to...
Buying a Home after Bankruptcy
In the face of bankruptcy, buying a home may seem like an impossible endeavor. Many people believe that low credit scores prevent them from ever qualifying for a mortgage loan in the future. Although buying a home after bankruptcy is not without challenges, qualifying for a...
Interest Only Mortgages: Advantages & Disadvantages
Interest only home loans are considered a risky investment for most borrowers seeking to purchase a home, however there are advantages to an interest only loan, which for some outweigh the disadvantages.. The Advantages of Interest-only MortgagesThe advantage of an...
Reverse Mortgage Overview
A reverse mortgage is a specialized loan type designed to provide retired seniors the ability to tap into their home equity and generate additional income without the obligation of repaying the debt. Essentially, reverse mortgage loans do just the opposite of...
What is an Option ARM Loan?
An adjustable-rate mortgage has flexible mortgage payment options that help you to manage your monthly cash flow better. Its low introductory start rate allows for a low initial mortgage payment and low qualifying rates that enable you to qualify for more home.. The...
Interest Only Mortgage Program
An interest only mortgage is one in which the monthly payment for the loan does not include the repayment of the principle balance for a specific period of time. Interest only loans are offered on both fixed rate and adjustable mortgages, and also on option ARM loans. Once the...
Components of an Adjustable Rate Mortgage (ARM)
. Understanding an Adjustable Rate Mortgage comes down to understanding its component parts. These are a list of terms related to ARM's that you should know:. Index: A financial indicator that rises and falls, based primarily on economic fluctuations. It is usually an...
Privacy Policy
Lender411.com recognizes our customers' desire to preserve their privacy and confidentiality. We have adopted standards that help maintain and preserve the confidentiality of our customers' non-public personal information. This privacy policy applies to your...
Credit Card Debt
Credit card debt is one of the easiest kind of debts to get in, and one of the hardest kinds of debt to get out of. A big part of the allure of credit cards is the ability to buy NOW and pay later. However, behind the possibility of buying now is an ugly truth. Many consumers discover that...
Debt Cures
If you have reached a point where accumulating more debt is not an option, it's time to find a way out of debt.. Do your homeworkStart your search for a debt cure by doing your homework. Avoid falling prey to the many expensive online 'debt cure'' marketing ploys...
What Is Debt Settlement?
Debt settlement is a process by which a company negotiates with a consumer's creditors to agree upon a lump sum pay off for a reduced amount to achieve full settlement of debt.. The negotiating company attempts to get the creditor to agree to lower the monetary amount...
First Time Home Buyer Loans
When searching for a first time home buyer loan, you may be confused and filled with doubt or intimidation.  Purchasing a home is a major financial decision, and it’s good that you’re not taking it lightly. . Finding Your New HomeOnce you...
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Online Mortgage Services to Get You the Best Home Loans
Purchasing and financing your home is perhaps the most important factor in the success of your financial portfolio. A house is more than just a financial investment, especially when it is also your primary residence. . In today's uncertain environment, it is more...
Terms of Service for Article Writers/Submitters
By submitting an article to Lender411.com, you agree to the following:. You are the sole owner and creator/author of the article and own 100% of all copyrights pertaining to it.Your submission of the article to Lender411.com gives us full permission to publish it on our website...
What is a Short Sale?
A short sale is little more than the lender agreeing with the current home owner to accept an amount that is less than the current outstanding balance of the mortgage.. A short sale is usually a negotiated agreement between a home owner and their lender to discount a loan based on...
How to Avoid Foreclosure
Learn how to avoid foreclosure and save your home or protect your credit rating with this article.. There are two ways to avoid a foreclosure:. 1. Make the outstanding payments.The first real decision you need to make is choosing an option, and it depends on the reason...
Mortgage Glossary
Please click on the letter below to skip to the definition of the word you are looking for.. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z. 1003 Uniform Residential Loan Application.. A & D LOAN Acquisition and development loan- a loan for the purchase of raw land for the purpose development.....
Things to Know When You Apply for a Mortgage
The best way to save money on any kind of purchase is to know your options. This is especially true when you are financing or borrowing money. There are some key issues that you should be aware of before you apply for a mortgage:. Credit Rating (FICO)First, your credit rating, also...
Qualifying for a Mortgage when Self-Employed
Self-employed and others without typical, W-2 incomes could find themselves having a hard time getting a home loan due to heavier regulations.. Because income can vary from year to year, business expenses are high, and there is no W-2, small businesses and the...
Interest-Only Mortgage Loans: The Ins & Outs
If you are one of the many who are searching for a lower monthly payment with you new home purchase, then an interest only mortgage loan could be the answer that you are looking for. The idea behind these mortgages is that the borrower will only be required to repay the interest...
What is a Conforming Loan?
Two government-backed companies, Fannie Mae and Freddie Mac, have specific guidelines that they have created to determine which loans they will purchase in the secondary market. A conforming loan is simply a loan that meets these guidelines.. These two financial companies...
Do You Really Need Mortgage Protection Insurance?
Mortgage protection insurance coverage varies depending upon the company making the offer. But most provide protection for life-changing situations like temporary or permanent disability, job loss, or death of the insured.. What's the value of mortgage protection...
Obtaining Loan Approval with Bad Credit
These days, it's difficult to obtain approval for a loan if you have extremely bad credit. Lenders have tightened their lending criteria and many avoid involvement in riskier bad credit loans altogether. All of this is happening while demand for these loans is high.. If...
Specifics about Jumbo Mortgage Loans
Although the name may imply something rare and unusual, a jumbo mortgage only has a few items separate from a conventional mortgage. The main difference lies in the amount of the loan. The upper limit set by Fannie Mae and Freddie Mac for a standard mortgage is $417,000 in the...
Five Year Fixed Rate Mortgages Explained
A five-year fixed-rate mortgage offers the best of both worlds: payment stability typical with a longer term fixed-rate mortgage combined with a (usually lower) fixed rate for the first five years.. What is a 5 Year Fixed-Rate Mortgage?This type of loan should not be confused...
Factors That Influence Mortgage Interest Rates
Mortgage rates are influenced by many factors including the economy, the stock and bond markets, as well your financial state. While you may not have control over the economy or market, you are in complete control over your finances. . Read below to learn more about...
Can I get an FHA Loan after Bankruptcy or Foreclosure?
For potential home buyers with bad credit, qualifying for a home loan can seem like a daunting task, especially if it's following a bankruptcy, foreclosure, or short sale. . FHA Loan After a BankruptcyMany people wonder if they can get an FHA home loan after a...
3 Things You Should Know Before You Switch Mortgage Lenders
Are you considering switching or trading mortgage lenders? You're not alone. Many homeowners decide to refinance their existing mortgage using a different mortgage lender. . Often, switching to a new mortgage lender means lower mortgage rates and more favorable...
5 Interest-Only Mortgage Considerations
Is an interest-only mortgage right for you? With an interest-only mortgage, borrowers have the option of paying each month only the amount of the interest that has accrued. . Since borrowers aren't required to pay anything towards the capital, less of each...
6 Ways You Can Reduce Your Home Mortgage Costs
The closing costs of a home loan include appraisal fees, inspection fees, broker fees, title fees, administrative fees, and others. . Closing costs can account for a significant portion of the cost of the loan. When looking for the lowest mortgage rates, ask lenders what...
The Difference Between Recourse and Nonrecourse Loans: How You Can Save Money
Loans can occur as either recourse, or nonrecourse debt and how it's classified can have a significant impact on a borrower's financial future.. What you should knowIf a loan amount is secured by property such as a house and the borrower defaults, the lender...
Adjustable Rate Mortgage or Fixed Rate Mortgage: Which Is Better?
The most common mortgage options are fixed rate mortgage an adjustable rate mortgage.  Which of these is best?  This depends on your situation and your unique financial goals.Adjustable rate mortgages come at a much lower initial interest rate than...
Blog Review for: www.irvinehousingblog.com
Larry Roberts is a real estate development professional with a lengthy career background in the industry.  Widely regarded as an expert among experts, Larry famously predicted the housing collapse before it occurred and has even authored a book on the subject. ...
Calculating your Refinance Closing Costs
When refinancing, borrowers should calculate the costs of the refinance against the potential benefits. Typically, this requires comparing the gains of a lower interest rate or shorter term against the cost of securing a refinance loan. . However, evaluating the cost...
Benefits of FHA Mortgage Loans
An FHA mortgage can save you a lot of money on your home purchase and get you into a new home that much faster.  Here's a brief recap of some of the most rewarding FHA loan benefits and what it has to offer. . Easier Qualification RequirementsThe biggest...
What Is a Mortgage Payment?
A monthly mortgage payment is an amount that's paid on a mortgage loan each month. . Depending on whether you have a fixed or adjustable rate mortgage (ARM), your mortgage payment may be set to a specific amount each month, or it may adjust periodically based on market...
Top 5 Reasons You're Ready For a Refinance
If you plan to refinance your home mortgage, don't act too fast.  Wait until mortgage rates are low, as they are currently, and you'll save a significant amount of money.  But how can you know when the time to act has come?  Check out the following tips.1...
Requirements for a Good Credit Score
In recent years, your credit score was just a minor issue if you wanted to take out a mortgage loan for a home purchase or a refinance.  Now, however, lenders are enforcing extremely strict credit score requirements.  Some minimum qualifications are outlined here.. 1...
15-year Fixed Rate Mortgages Defined
A 15-year fixed-rate mortgage offers homeowners a way to pay off their home purchase twice as fast as with a conventional 30-year fixed-rate mortgage.. How do 15-year fixed-rate mortgages work?Fixed-rate mortgages are the most common type of mortgage loans. With a 15 year...
7-1 ARM (Adjustable Rate Mortgage)
A 7/1 ARM, or adjustable rate mortgage, allows homebuyers to borrow funds at a low initial rate.  This can help a borrower finance a home purchase more effectively.  7/1 ARMs come with lower interest than conventional fixed mortgages for an initial 7 year period at...
Benefits and Drawbacks of Fixed Rate Mortgages
The most common type of mortgage is the fixed rate mortgage.  This mortgage type features a 15 or 30-year term length with a fixed rate that never adjusts upward or downward during the life of the loan.  . There are benefits and drawbacks to this type of loan.....
How Does a Reverse Mortgage Work?
Many seniors who purchased homes early in life own the full equity of their homes. A reverse mortgage allows them to tap into the equity to pay for other expenses, such as medical bills or living expenses.  . This is a huge financial help for seniors especially in tough...
3 Tips for Mortgage Pre-Approval
Preparing for a mortgage can be a complex process, especially if you’re a first time buyer.  One of the most important steps in the mortgage process is preapproval.  You should try to get preapproved for your loan as soon as possible.  If you can,...
What Happens if I Miss a Mortgage Payment?
Worried you might miss a mortgage payment? Perhaps you are facing a temporary financial hardship or an unexpected event, such as a job loss or serious illness.. Contact your mortgage lender immediately to discuss your repayment options.. Whether you have already missed one...
Which Closing Costs Are Negotiable?
For home buyers getting a mortgage loan, closing costs are a significant expense, especially combined with the price of a down payment. . As such, borrowers must save up before a home purchase to cover these costs.  However, with some sound advice and...
Refinancing An ARM Loan
Stuck in a loan with a rising interest rate?  After an initial period of low payments, adjustable-rate mortgage or ARM loan terms can be very financially damaging for borrowers. . Refinancing with an ARM can get you out of this volatile situation and help you...
Commercial Loans Sought as Property Values Increase
The recession dealt a strong blow to commercial and industrial property values, but commercial real estate has shown signs of leading the housing recovery.  In some areas, commercial property values have increased 30% from low levels reached in during the peak of the...
Are Hybrid Mortgages Right for You?
ARM mortgages are a popular response to the increase in mortgage interest rates. For the potential home owner who wants to buy a home or refinance an existing loan but does not want the higher payment, the hybrid may be the right choice. . It has a lower fixed rate for...
7 Tips for Selling Your Home in a Down Market
We have spoken with many real estate agents and learned their secrets to selling your house in a short amount of time without usually having to change the offering price.. 1. Get a professional appraisal. Getting a professional appraiser to evaluate your home allows you to...
Commercial Real Estate Loan Eligibility
If you want to secure a commercial loan to purchase real estate, you'll have to convince your lender that you're a worthwhile credit risk.  This is true whether you need property for business or investment purposes.. Commercial real estate is a very competitive...
How to Select a Mortgage Lender
We’ve developed a comprehensive guide that will help you select the best mortgage lender to close your home loan.  But before we get into the steps you’ll need to take, let’s identify some of the attributes of a good lender.. Identifying a Good LenderA...
8 Expenses to Expect When You Purchase Your Home
If you're a first time home buyer, you may not know what to expect when starting the home purchase process.  You may know that it's generally a better financial move to buy a home than rent one.  You may have decided you need additional space.  You may be...
Mortgage Loan Pre-Approval: Why Do You Need It?
There are some items to consider when you apply for a mortgage loan as this will affect your lifestyle and your finances for many years to come.  The right mortgage package will meet your needs and provide you with the lowest mortgage rates available. However, a...
How Can I Qualify for the Mortgage Tax Deduction?
The mortgage tax deduction is one of the biggest benefits of buying a home since you can deduct the interest paid on your mortgage. The interest deduction is defined by any interest you pay on a loan that is secured by the main home or second home.. Interest can be deducted on up to one...
The Homeowner Association: Ruling Your Rights?
You may not know that there are private governments across the United States. Or that one out of every five homeowners in America is bound by strict regulations enforced so stringently that they’re in constant threat of losing their rights to privacy, their freedom of...
5 Tips To Build Your Dream Home
Building a new house can be both exciting, nerve wracking, and rewarding. There is always a long list of decisions to be made, and it can be easy to overlook some points in the process when all you want is for your house to be done and ready to move into. We’ve put together a...
Multi-Family Mortgages rise by 13% in Q4 of 2011
Mortgage originations for commercial and multi-family loans increased 13% year-over-year in the fourth quarter of last year.  However, the number was down 7% from the earlier quarter of the same year (2011).  MBA (Mortgage Bankers Association) expressed that...
Loan Modfications Were Down 40% in 2011
Mortgage servicers provided more than 1 million homeowners with mortgage loan modifications in 2011 which is actually down quite a bit (40% to be exact) from 2010.  This information was release by the Hope Now Organization.The actual numbers were 1.05 million permanent...
Foreclosures Down 24% in 2011
Foreclosures in December of 2011 declined year-over-year to 55,000 from 67,000. The foreclosure drop has been in the midst of recent months' news about the regulation regarding robo-signing, including a projected settlement resulting from the litigation between...
Mortgage Applications Drop for 6th Consecutive Week
Both Home Purchase and Refinance mortgage activity has been dropping lately.  In particular, the "Purchase" index has dipped 1% from last week.The 4-week moving average dropped 2.79%, with purchase applications up 3.25% but refinancings down 4.31%.The slow...
Mortgage Rates Surpass 4%
For the first time since October of 2011, average mortgage rates moved up getting more in sync with the increases in U.S. Treasury bond yields.  The 30-year fixed mortgage rate surpassed 4% to 4.08% for the week ending March 22. This was an increase from 3.92% in the prior week....
Home Sales have Dropped in February
Sales of new homes dropped 1.6% in February to only 313,000 units from 318,000 in January which was actually revised downward from 321,000.  However the number rose 11.6% from the same period in 2011. This number disappointed analysts who were expecting a better number at...
Healthy Job Market will help Real Estate
The only way that the housing sector in the United States to recover is for the unemployment numbers to improve. However, Fed Chairman Ben Bernanke says that he is not completely certain on how to guarantee or even predict whether the recent job growth in the economy is to be...
FHFA sees Mortgage Rates Dropping
The average mortgage rates for 30-year fixed mortgages for new home purchases nationwide dropped from 4.18% in January 2012 to 4.08% in February, based on the recent report from the FHFA (Federal Housing Finance Agency).These mortgage rates represent activities on loans...
How To Finance Home Improvements
Making sure your home is in good repair helps it maintain, and, in many cases raise its over-all value. Homeowners aren’t always able to pay out of pocket for a $10,000 plumbing job when the pipes burst, and sometimes we just aren’t able to handle staring at that...
What Do I Need To Know About Private Mortgage Insurance?
Although PMI (mortgage insurance) may not be the most popular form of insurance for some homeowners, for many, it's a must.. Thousands of hopeful homeowners are unable to afford the hefty 20 percent down payment, making PMI a useful foot-in-the-door, allowing for home...
Blog Review: Phyllis Harb
http://los-angeles-real-estate-blog.com/. There is no longer any need for Angelenos to find their information on Real Estate news or local weekend events elsewhere anymore. Phyllis Harb’s Los Angeles Real Estate blog is a one stop shop for homeowners and buyers...
NAHB Notes Rise in Builder Confidence
With more affordable pricing and low mortgage interest rates, homebuilders showed more confidence in June according to the National Association of Home Builders on June 18, 2012.. Reaching it’s highest level since April of 2007, the index component that measures...
Available Home Loan Options
30-Year Fixed Rate Mortgage: A 30-year fixed rate mortgage gives you the security of always knowing what your loan payments will be. . 30-year FRM's are usually the best choice when you are planning on staying in your home for a long time and have a set income rather...
How to Transfer a Mortgage
A mortgage transfer is defined as a transaction in which the borrower, or lender, assigns an existing mortgage to another person or entity. If a mortgage can be transferred, it is referred to as “assumable".. Assumable mortgages fade in and out of popularity...
Lender411 100 Percent Guarantee
At Lender411.com, your 100% satisfaction is our goal. We make sure all lender partners are ethical and deal in good faith. If you are contacted by a lender who does not meet your expectations, let us know at: customerservice@lender411.com so we can take the appropriate measures.. .
VA Loan Certificate of Eligibility
To receive a VA guaranteed loan, applicants must acquire a Certificate of Eligibility (COE). Applicants eligible to receive a Certificate of Eligibility for a VA loan are divided into three categories:. VeteransActive Duty Service personsReservists or Members of the...
Fees associated with VA Loans
Many prospective borrowers are curious about what VA loan fees will be charged in connection with their loan, and more specifically, how much cash is necessary upon closing.  . When looking at all of the fees, many of them can be negotiated with and paid by the seller...
VA Loan Foreclosure and Short Sale
A VA foreclosure happens when a borrower is delinquent on their mortgage payments and their VA loan lender claims ownership of the home that they have financed. . When a VA loan lender forecloses on the borrower, the borrower must move out of the house and loses all...
Conventional Versus FHA Refinancing
Refinance loan options can be split into two categories: conventional mortgage loans and government-insured, most commonly those insured by the Federal Housing Administration (FHA). . While both conventional and FHA loans each have their advantages, borrowers...
FHA Approved Condominiums
FHA Approved Condominums are great for first time homebuyers. Many borrowers, especially first time home buyers look to FHA because the requirements are much friendlier to qualify than a conventional loan.  These borrowers usually opt for an FHA loan, which allows...
Buying a VA-Approved Condo
A VA condominium ownership can have numerous benefits over home ownership; with a much lower monthly cost and attractive or convenient amenities, buying a condo with a VA loan could be optimal for some borrowers.. However, not all mortgage loans can be used to purchase...
Buy a House After Short Sale
Following a short sale, borrowers may find it challenging to obtain mortgage loans at the most advantageous rate.. In some cases, borrowers will be required to put down a larger down payment to compensate for the risk which they present to the lender. At the very least, many loan...
Joint Mortgage Versus Joint Ownership
Joint mortgages can provide prospective homebuyers with the access to much more funding for a home mortgage than a traditional mortgage loan. However, joint ownership does not necessarily mean that the borrowers each share ownership of the property.  . If you are...
5 Tips for Short Sale Success
Select the Right Short Sale AgentBorrowers should choose a real estate agent with ample experience and confidence handling short sales. . Short sales success should not be taken lightly, and homeowners should make sure they are knowledgeable about every step before...
5 Short Sale Buyer Missteps
Short sale buyers should take care when selecting a short sale or foreclosed property, as these homes may not be as good of a deal as they appear.  . Here are five common missteps of buyers purchasing short sale properties:. Disregarding Property Shortcomings for Short...
Short Sale Denied: Top 5 Obstacles for Short Sale Approval
Before short selling their house, homeowners must negotiate with the bank. Here are the five most common obstacles which result in having a short sale denied:. The Offer Price is Insufficient, and the Short Sale is DeniedBanks will only agree to the sale if they believe the...
Can you get a VA Loan after a Short Sale?
Although it may be somewhat challenging, borrowers who have short sold a property may still acquire a VA mortgage loan and even receive full entitlement under the right circumstances. In fact, VA loans offer much simpler guidelines for recovery from a short sale than other...
Purchase a Home With a Reverse Mortgage
Reverse mortgages have provided numerous senior homeowners with additional income by tapping into a property’s accumulated home equity to withdraw tax-free cash.. However, recent changes to the FHA-insured reverse mortgage program, known as a Home Equity...
5 Common Obstacles to VA Home Inspection
Military borrowers face the most difficulty during the VA home appraisal and the mandatory VA home inspection. . Before closing the loan, the Department of Veteran Affairs enforces several criteria for Minimum Property Requirements (MPR) before extending the...
Understanding the VA Loan Application Process
Here are a few easy and cohesive steps to a smart and stress-free VA loan application process. 1. Get a Certificate of Eligibility (COE).The first step of the VA loan application process requires that you must qualify for a VA loan. A Certificate of Eligibility, or COE, assures the...
VA Loan Appraisals and Home Inspection
Unlike regular appraisals, VA appraisals take additional factors into consideration and can present challenges to some borrowers, especially those considering purchasing fixer-upper properties. . Facilitate a smooth appraisal process for VA...
Securing a VA Business Loan
Patriot Express Loans and Military Reservist Economic Injury Disaster Loans are guaranteed loans offered by the Small Business Administration (SBA) for Veterans, active duty servicepersons, and their spouses. . While not a common type of VA loan, VA business loans...
VA Loan Forgiveness - Debt Forgiveness for U.S. Veterans
The United States military has several programs in place that are designed to help military service members and their families avoid foreclosure and manage their debt. . Most military bases have a Family Support Center for financial counseling. The counselors can help...
Approval of VA Lenders
VA loan mortgages offer exceptional benefits exclusive to military servicepersons and veteran borrowers. However, these loans cannot be acquired from all lenders; rather, VA-eligible borrowers must find VA lenders who have been approved by the Department of Veteran...
Big houses making a comeback
After cutting back square footage for the last five years, homeowners may finally be interested in increasing their living space again. A recently released survey by nation-wide homebuilder organization PulteGroup found that, regardless of age, the reason behind the...

By Gretchen Wegrich. After a seemingly endless downward spiral, housing prices finally hit rock bottom during 2012. Looking ahead, 2013 could either see the cost of housing continue to rebound or drop back down to record lows.. For potential home buyers, 2012 is the first year...
Real Estate Trends, Experts Cautiously Optimistic for 2013
By Gretchen Wegrich. As 2012 comes to a close, many real estate professionals are eagerly awaiting fiscal cliff developments and wondering how this will impact the 2013 housing market.. Recently released data from Realtor.com highlights national and local real estate trends...
GDP Changes Linked to Housing Market Recovery
By Gretchen Wegrich. This week’s release of Gross Domestic Product (GDP) data by the Commerce Department is an opportunity to better understand the correlation between GDP and the housing market.  Other influencers of the GDP are the fiscal cliff crisis and...
Standard & Poor’s ratings show importance of Fannie, Freddie in secondary market
By Gretchen Wegrich. Standard & Poor’s Ratings Services revealed that the combined lending power of Fannie Mae and Freddie Mac totaled 70% of new mortgages during January-September 2012. The resulting available market liquidity was valuable during a period...
Fiscal cliff deal supports mortgage industry, leaves debt forgiveness law untouched
By Gretchen Wegrich. Mortgage professionals can finally celebrate the passage of the fiscal cliff deal, which included debt forgiveness for borrowers who participate in debt reduction or a short sale as well as the return of a tax break on mortgage insurance premiums.. The...
Mortgage Rates Uncertain as Industry Prepares for 7 New CFPB Rules
By Gretchen Wegrich. While the mortgage industry has traditionally been slow to adopt new regulations, January 2013 welcomes not one but seven new mortgage/servicing rules, courtesy of the Consumer Financial Protection Bureau. Although the rules will not be enforced...
Fiscal Cliff Deal Boosts Confidence in Mortgage Insurance Industry
By Gretchen Wegrich. Homeowners who have an adjusted gross income of less than $100,000 breathed a sigh of relief on Jan. 1, when the fiscal cliff deal ensured that a tax deduction for their mortgage insurance premium would survive. The tax break is not only beneficial to...
The Fiscal Cliff, Mortgages and Mortgage Rates: How it all Relates
When Congress met to discuss the fiscal cliff bill, it was voted upon and decided that the Mortgage Forgiveness Debt Relief Act would be extended through the end of 2013.  This particular fiscal cliff vote will drastically increase and spike a national housing recovery...

By Gretchen Wegrich. 2013 may finally be the year when homeowners find the appeal of community banks and credit unions to be greater than that of large, established financial institutions.. New mortgage rules released by the government on Jan. 10 included the much-hyped...
Plan to Avoid Debt Ceiling: Trillion Dollar Coin Vetoed by White House
By Gretchen Wegrich. The Obama Administration has clearly denied that the much-hyped trillion dollar coin, a proposal which gained a serious following in the blogosphere last week as a ‘magic’ solutuion to the debt-ceiling crisis, was under serious...

By Gretchen Wegrich. The cost of buying a home increased 7.4 percent year-over-year in November 2012, indicated a report released Jan. 11 by housing data-cruncher CoreLogic..  Notably, this figure represents the largest increase since May 2006 and the ninth straight...
Mortgage Applications Bounce Back After Holidays
By Gretchen Wegrich. After decreasing as predicted during the holiday season, mortgage applications shot up 15.2 percent over the week of January 6-12 as both housing purchases and refinancing activity showed improvements.. Data released by the Mortgage Bankers...
Rising Home Prices Float 1.4 Million Underwater Homeowners Above Negative Equity
By Gretchen Wegrich. Rising home prices helped 1.4 million homeowners escape negative equity during 2012, revealed a report released by housing data powerhouse CoreLogic. The number of homeowners reaching a state of positive equity rose by approximately 100,000 during the...
Unreleased Mortgage Down-Payment Rule: Housing Industry Braces for Impact
By Gretchen Wegrich. As the mortgage industry sifts through thousands of pages of new mortgage rules issued this past week by the Consumer Financial Protection Bureau (CFPB), the jury is still out on whether US regulators will establish a minimum down payment for mortgage...
How Can I Avoid The Home Equity Trap?
For Americans nearing retirement: Do you stick to your original plan of selling your home and living off the profit despite the increased capital gains tax will consume a significant portion of the profit? . Factor in the new 3.8 percent Medicare tax, and suddenly the...
U.S. Sales of New Homes Decline but Home Building Market Inspires Optimism
By Daniel Duffield. Sales of new U.S. homes decreased in December, though the median home sales price increased and the home building industry still seems to contain a fair bit of optimism within the nation’s economic recovery.. According to a statement on Friday made by...
NAR Reports Pending Home Sales Down in December, But Not For Long
By Gretchen Wegrich. Despite a drop in pending home sales during the month of December, contract signings have remained higher than year-ago levels for 20 consecutive months, reported the National Association of Realtors.. November and December saw a decline in home...
NLRB Ruling May Put Mortgage Markets at Risk
By Gretchen Wegrich. Mortgage professionals and lending institutions expected a clear set of rules earlier this month when regulators released the much-anticipated new mortgage standards. Now, a court ruling has placed these rules in jeopardy of being overturned.. The...
Rising Interest Rates Affect Mortgage Applications, Demand for Refinancing Drops
By Gretchen Wegrich. Applications for mortgage loans dropped last week after improving for three consecutive weeks; refinance demand was also low in response to rising interest rates, revealed the Mortgage Bankers Association on Wednesday.. Overall, the Market Composite...
CFPB opponents: Mortgage regulations may be declared unconstitutional
By Gretchen Wegrich . As predicted, opponents of the Consumer Financial Protection Bureau (CFPB) presented legislation this week with the intention of preventing the CFPB from upholding regulations without a constitutionally confirmed program director.. Additionally,...
Investors Gambling on the Strengthening Housing Recovery
This year, investing firms for hedge funds and private equity have been growing more active in the purchasing of companies and assets relating to the inventory of the housing market, including undeveloped property, homebuilders, foreclosed houses, and manufacturers of...
Battle begins over FHA housing finance agency
By Gretchen Wegrich. On Wednesday, members of the House of Representatives announced their intent to go to battle over the government's authority in the mortgage finance system, directing their attack on the Federal Housing Administration, which is currently facing...
A HARP Facelift? Homeowner Refinancing Act Arrives
By Gretchen Wegrich. While the possibility of HARP 3.0 remains on the horizon, a bill reintroduced by two U.S. Senators contains legislation designed to assist homeowners in refinancing into lower mortgage interest rates. The Responsible Homeowner Refinancing Act of 2013...
Home Sales Boosted by Increasing Demand, Supply Shortage
By Gretchen Wegrich . That national median home price rocketed to the highest year-over-year increase in the past seven years as an increasing number of metropolitan areas recorded higher median home sale values during the fourth quarter of 2012, reported the National...
Disqualified: New Qualified Mortgage Rule Would Eliminate Half of Today's Mortgage Originations
By Gretchen Wegrich. If exemptions were removed for government-sponsored loans, approximately half of today's mortgage originations would not qualify under the 'Qualified Mortgage' rule, reported CoreLogic in a February MarketPulse Report.. The report...
HARP 2.0 Requirements
For a mortgage to be eligible for a HARP refinance, it must satisfy the following guidelines:. Must be owned by either Fannie Mae or Freddie Mac.Must have been acquired before June 1, 2009.Must not have been previously refinanced through HARP.HARP 2.0 Borrower RequirementsFor a...
How Do I Refinance a Second Mortgage With HARP 2.0?
Borrowers with second mortgages who are attempting to secure a refinance through the Home Affordable Refinance Program (HARP) may run into obstacles. . With traditional refinance loans, a first and second mortgage can be consolidated into the new loan.  HARP...
President Obama Takes On Qualified Mortgage Rules
By Gretchen Wegrich. The mortgage and real estate industries may have found an ally; in his state of the Union address on February 12, President Barack Obama called for streamlined mortgage rules.. "Right now, overlapping regulations keep responsible young families...
Why the Mortgage Interest Deduction should be Eliminated
The fiscal-cliff decision that was reached on New Year’s Day dramatically changed existing tax laws and applied tax breaks for most taxpayers.  The lawmakers have always considered eliminating the mortgage interest deduction to become a source of revenue....
Top 10 Myths About Mortgages
Both experienced and first-time home buyers can make the same mistake of selecting the wrong type of mortgage loan. Fail-proof your mortgage application process by reviewing this list of the Top 10 Myths about Mortgages:. Myth #1: The Lowest Rate is Always the Best ChoiceA...
U.S. New Home Sales, Consumer Confidence Sky High
By Gretchen Wegrich. U.S. new home sales took flight in January, soaring to the highest number since July 2008, while separate data revealed that U.S. consumer confidence surpassed expectations for improvement in February.  . New home sales rose almost 16 percent in...
USDA Loan Eligibility Guidelines
The USDA rural development loan is a unique loan product offered by the United States Department of Agriculture for borrowers living or moving to rural areas. . To determine whether or not you meet current USDA guidelines, your lender will examine several factors...
Mortgage Applications Drop 3.8%, Holiday Week at Fault
By Gretchen Wegrich. In spite of a slight decrease in mortgage rates, mortgage applications continued their descent for the third straight week for the week ending Feb. 22. The Mortgage Bankers Association (MBA) reported that its seasonally adjusted mortgage application...
Bernanke Acknowledges Housing Challenges, Favors QRM Standards
By Gretchen Wegrich. Federal Reserve Chairman Ben Bernanke spoke about housing issues to the House Committee on Financial Services, noting that Qualified Residential Mortgage standards were needed.. A member of the committee, R-Calif. Gary Miller, questioned Bernanke...
A Pirate Code? Cordray Offers Mortgage Industry New Outlook on CFPB Rules
By Gretchen Wegrich. A recent meeting between Consumer Financial Protection Bureau director Richard Cordray and mortgage executives at the Credit Union National Association echoed the scene in Disney’s Pirates of the Caribbean, when Elizabeth Swann says,...
What Are the Pros and Cons of Interest-Only Mortgages?
Affluent borrowers are signing on to the same type of mortgage that sent many borrowers into foreclosure during the housing market meltdown. Interest-only mortgages, where borrowers pay interest but no principal at the beginning of the loan, are enticing homebuyers with...
Significant Changes to Fannie Mae and Freddie Mac in Motion
By Daniel Duffield. New changes to the government sponsored enterprises (GSE) could mean the end of Fannie Mae and Freddie Mac, as the two organizations intend to cancel current securitization procedures. When the dust settles, the new company could potentially be...
Consumer Expectations High For Housing, Low For Economy
By Daniel Duffield. Presently, consumer confidence in terms of the housing continues to increase, despite the lack of faith among Americans in the overall national economy.. With home prices and demand growing within select housing markets, consumer sentiment for the...
Mortgage Rates Soar After Employment Data
Mortgage rates skyrocketed today at their quickest pace since the end of January.  This is due to the Employment Situation displaying an unusually high amount of jobs created in the month of February.  The Employment Situation is one aspect of domestic economic...
Attorney General Says Banks Too Big To Regulate
By Gretchen Wegrich. At a recent Senate Judiciary Committee meeting, US Attorney General Eric H. Holder confirmed what many have suspected to be true but the Obama administration has yet to acknowledge,. "I am concerned that the size of some of of these institutions...
HARP Refinances Exceed 2012 Predictions
By Gretchen Wegrich. Following the expansion of the Home Affordable Refinance Program (HARP), homeowners in the five US states hardest hit by foreclosures are now leading refinance statistics, strengthening the most vulnerable sector of the housing recovery and...
Loan Programs for First Time Buyers
To be eligible for one of the many First-Time Home Buyer programs, the buyer may not necessarily have to be purchasing their first home. It's possible to qualify as a first time buyer  if you have not owned a home in the past three years.. There are various state and...
FHA Loans for First Time Home Buyers
FHA Loans are a popular choice with many first time buyers.  FHA loans remain easier to get and offer some advantages in comparison to conventional mortgages. As long as you do not have an existing FHA mortgage and you meet the following minimum requirements, you...
Protecting Consumer Choice: Legislation Would Fix Qualified Mortgage Rule
By Gretchen Wegrich. A new bill introduced to congress called the Consumer Mortgage Choice Act would adjust how points and fees are calculated, allowing more mortgage lenders to fall under the Qualified Mortgage distinction created by the Dodd-Frank Act’s...
JPMorgan Trading Losses of $6.2 Billion: Senate Report Reveals JPM Disregarded Warning Signs and Deceived Regulators
By Gretchen Wegrich. The debate in Washington over regulating Wall Street received some fuel for the fire yesterday with the Senate’s disclosure that JPMorgan Chase racked up $6.2 billion in losses last year while ignoring internal controls and manipulating...
CPFB Targets Student Debt as Major Mortgage Roadblock
By Gretchen Wegrich. The Consumer Financial Protection Bureau (CFPB) is expanding its reach beyond mortgage regulation to include overseeing non-bank student loan lenders who the agency views as a hindrance to college graduates’ ability to save for a mortgage.. For...
How to Buy a Home in the Spring Season
With the approach of spring comes the annual spring buying season, when home buyers flock to desirable neighborhoods and sellers experience the added benefits of a competitive market. With 2013 housing inventory continuously shrinking, sales are expected to be unusually...
CoreLogic Report Shows Improvement but Indicates Many U.S. Borrowers Still Underwater
By Daniel Duffield. The fourth quarter of 2012 concluded with an additional 200,000 homeowners seeing their home equity shift from negative to positive, or reaching a state in which they no longer owe more on their mortgage balance than the fair market value of their homes,...
Economic Recovery Sends Mortgage Default Rate Lower
By Gretchen Wegrich. The primary mortgage default rate fell .10 from 1.58% to 1.48% between January and Febrtuary, reported S&P Down Jones and credit bureau Experian.. Contrastingly, the second mortgage default rate rose from 0.69% in January to .71% in February.. S&P Dow...
DeMarco Pushes End to Fannie, Freddie Reliance on Taxpayer Dollars
By Gretchen Wegrich. Fannie Mae and Freddie Mac acting regulator Edward J. DeMarco will meet with the House Financial Services Committee today to ask lawmakers to cut back or eliminate the mortgage market's reliance on taxpayer dollars. . After being put under...
Housing, Economy Growth Blocked by Construction Labor Shortage
By Gretchen Wegrich. Where have all the construction workers gone? A growing shortage of labor in all facets of residential construction is preventing a full housing and economic recovery, reported the National Associat of Homebuilders.. The shortage is partially...
Is Dodd-Frank the End of Community Banks?
By Gretchen Wegrich. The shift toward banking locally may have taken several steps back with the passage of the Dodd-Frank Act, which community banks say imposes costly regulations and effectively prevents new local banks and credit unions from forming.. Enacted nearly 3...
As Home Prices Rise, More Americans Say They Believe in Home Ownership
By Gretchen Wegrich. As home prices continue to rise, foreclosures are falling and perhaps even more importantly, consumer confidence in housing is increasing. Despite month-to-month inconsistencies in sales of new and existing homes, a growing number of consumers are...
Fannie Mae Introduces No-Doc Modifications for Delinquent Borrowers
By Gretchen Wegrich. For seriously delinquent borrowers with mortgages owned or backed by Fannie Mae and Freddie Mac, help is on the way. A new program introduced by the companies' regulator will enable borrowers to reduce their monthly payments without documenting...
CFPB Calls For Increased Transparency, Reveals Searchable Consumer Complaint Data About Mortgages
By Gretchen Wegrich. The Consumer Financial Protection Agency wants you. After launching a Consumer Complaint Database during summer 2012, today the CFPB released an additional 70,000 consumer complaints --ranging from mortgages to student loans and other consumer...
Housing market surge may decrease over time
The housing outlook is still positive, with economists and analysts predicting that this sustainability could last for years.  However, everyone should be aware that housing won’t hold up the nation’s entire economy, as the housing recovery may only be...
Unemployment, Shadow Inventory Influencing Foreclosure Crisis
By Gretchen Wegrich. Foreclosure data released Thursday by real estate analytics companies CoreLogic and RealtyTrac revealed a housing recovery propelled by local market economics and unemployment, as well as the unique foreclosure procedures of each state. Shadow...
Mortgage Savers: Energy Efficient Homes Lower Risk of Borrower Default
By Gretchen Wegrich. Mortgage loans on energy efficient homes are 32 percent less likely to go into default, researchers discovered in a recent study that found that homes built with energy efficient features can save homeowners from foreclosure. In addition, the more...
Mortgage Insurers Caught Offering Illegal Kickbacks to Lenders
By Gretchen Wegrich. The Consumer Financial Protection Bureau (CFPB) continued to live up to its name today, when the agency announced it was taking action to end what it described as 'imporper kcikpacks paid by mortgage insurers to mortgage lenders in exchange for...
'Dislike': Financial Industry Says SEC Social Media Policy is Too Vague
By Gretchen Wegrich. The SEC has been struggling to catch up with financial companies' use of social media every since 2000's Regulation Fair Disclosure (Reg FD) was created to ensure that companies shared material information to the public in an equal and fair...
Home Ownership Lingers as Part of the American Dream, While Renting Becomes Increasingly Popular
By Gretchen Wegrich. As the recent recession lingers, Americans say they still value the American Dream of home ownership. A new survey from the MacArthur Foundation discovered that a transformation in views of homeownership is underway accross the nation. Renting is...
Supply Shortage Limits Home Sales
By Gretchen Wegrich. The supply of houses across the nation has nearly run dry during the past few months as investors and ordinary buyers race to seize available properties while taking advantage of rock-bottom mortgage rates.. The increased demand for houses is attributed...
Refinancing surge pushes mortgage applications higher
By Gretchen Wegrich. A surge of mortgage refinance applications pushed the total number of mortgage applications upwards by 4% during the week that ended April 5 after dropping the previous week, reported the Mortgage Bankers Association.. The refinance index also reversed...
HARP extended to 2015
By Gretchen Wegrich. The Federal Housing Agency (FHFA) extended the Home Affordable Refinance Program (HARP) for an additional two years to Dec. 31, 2015. The program was due to expire Dec. 31, 2013.. "More than 2 million homeowners have refinance through HARP, proving it a...
March existing home sales disappoint due to limited inventory, prices continue to rise
By Gretchen Wegrich. A constricted inventory caused existing-home sales to fall in March, pushing home prices higher as mortgage rates continue to remain near record lows, reported the National Association of Realtors (NAR).. “Buyer traffic is 25 percent above a year...
7 Sins of First Time Home Buyers
First time home buyers beware; purchasing a home is a serious and long term financial investment.. Knowing what dangerous mistakes to avoid can mean the difference between digging your own grave of debt and creating a secure financial future.. Read the following 7 Sins of First...
CFPB Director Richard Cordray declared invalid by House Financial Services Committee
By Gretchen Wegrich. The battle between President Obama’s recess-appointed Consumer Financial Protection Bureau (CFPB) director Richard Cordray and the House Financial Services Committee was re-ignited yesterday, when committee chairman Jeb Hensarling...
The Credit Block
In a Mostly Favorable Market, Homebuyers Limited by Low CreditBy Gretchen Wegrich. With the housing market showing steady improvement during the opening months of 2013, a recent report from CoreLogic revealed that the housing industry could be further strengthened by...
Near Record Low Mortgage Rates Buoy Housing Recovery
By Gretchen Wegrich. Average fixed mortgage rates dropped for the fourth consecutive week, continuing to support the housing recovery with less expensive credit, reported Freddie Mac today in its Primary Mortgage Market Survey. Notably, the 15-year fixed rate mortgage...
Balancing Act: House Committee Hears Opposing Viewpoints Over Mortgage Interest Rate Deduction
By Gretchen Wegrich. The House Ways and Means Committee oversaw a lengthy debate today over housing tax incentives. Testimony was given by key industry players in the housing, building and real estate sectors as well as policy experts, who represented both sides of the...
Mortgage Principal Reduction Could Save Taxpayers $2.8 Billion
By Gretchen Wegrich. An investigation into the potential costs of a widespread mortgage princiapl reduction program discovered that taxpayers would benefit to the tune of $2.8 billion. The report, issued by the Congressional Budget Office, examined several scenarios and...
FHFA: HARP success follows low mortgage rates, February refinance volume strong
By Gretchen Wegrich. The Federal Housing Finance Agency (FHFA) released its February 2013 Refinance Report today, revealing elevated refinance volumes as mortgage rates remained at or near historic low levels. The Home Affordable Refinance Program (HARP) played a major...
Fannie Mae profitability skyrockets
By Gretchen Wegrich. Mortgage finance institution Fannie Mae turned heads on Thursday morning with the announcement of first-quarter pre-tax net income of $8.1 billion, due to strong credit results buoyed by an improved housing market and a resolution agreement with Bank...
What to Know Before You Buy a Vacation Home or Second Home
Benefits of owning a vacation home.A vacation home can come with many benefits other than leisure. The homeowner may discover the home is valuable as a rental if the home is in a popular vacation spot, allowing the homeowner to rent the home and earn additional income.. Choosing to...
The 5 New Mortgage and Housing Trends for Summer 2013
A record-high number of buyers are going to be looking for homes in the late spring/early summertime months, thanks to low mortgage rates.  Sellers have a lot to look forward to as home inventory continues to shrink.  Here are some other significant trends to know...
7 Obstacles Between You and the Best Mortgage Rates
According to Zillow’s forecast, housing prices are bottoming out in many markets -- meaning that now is the time for buyers to think about entering the market and for homeowners to consider refinancing to a lower mortgage rate.. So, what are the seven obstacles that...
Should I Pay Off My Mortgage Early?
Most homeowners dream of owning a house and being able to stop making mortgage payments. In fact, most homeowners have dreamed paying off their mortgages early. Even making one extra payment per year on a $200,000 mortgage could save upwards of $65,000 in the long run. . The...
Mortgage Rates Fluctuated Today 6-4-13
Today's mortgage rates did not change very much from yesterday's fall. The 15 year FRM rate did not budge from yesterday's 3.14%. Recent rate trends have reflected strengthened rates in response to rising consumer confidence and optimistic...
Mortgage Rates 6-19-2013
Today's mortgage rates continued to slip upwards, approaching the 52-week high reached last week, demonstrating continuing instability. Recent rate trends indicate rates have risen in response to rising consumer confidence and optimistic economic data.. 30-year...
Mortgage Rates 6-20-2013
Primary mortgage rates shot upwards today, pushing the conventional 30-year fixed best execution rate to 4.25% (a level that hasn't been seen since the fourth quarter of 2011). The sudden jump in mortgage rates is being attributed to important FOMC events taking place...
Mortgage Rates 6-24-2-13
 Primary mortgage rates confirmed today what mortgage professionals and homebuyers feared last week; rates are not done climbing. Rates over the weekend continued their catastrophic climb, pushing the conventional 30-year fixed best execution rate to 4.49%. The...
Mortgage Rates 6-25-2013
Primary mortgage rates continued their rapid upward climb today, although rates showed some signs of slowing. The conventional 30-year fixed best execution rate is now a shocking 4.59%. Mortgage rates began a sudden increase last week following a much-anticipated...
Mortgage Rates 6-26-2013
Finally, primary mortgage rates appear to be leveling off. The conventional 30-year fixed best execution rate is now an improved 4.57%. Mortgage rates underwent a rapid increase last week after an announcement by the Federal Reserve. Mortgage professionals are predicting...
Mortgage Rates 6-27-2013
Today's mortgage rates continued to move lower, showing signs of stabilizing after last weeks sudden upward movement. The 30 year Fixed Rate Mortgage best execution rate is now 4.52%, a noticeable downward movement from the next 52-week high achieved recently. Mortgage...
Mortgage Rates 6-28-2013
Today's mortgage rates continued to improve, reversing the sudden jump in rates that took place during last week. The 30 year Fixed Rate Mortgage best execution rate is now 4.39%, a shift away from the 52-week high achieved recently. Looking ahead, it is anticipated that...
Mortgage Rates 7-1-2013
Today's mortgage rates held their ground, remaining mostly stable after regaining some of the territory lost during last week's surge in rates. The 30 year Fixed Rate Mortgage best execution rate is now 4.41%, a slight decrease away from the 52-week high achieved...
Mortgage Rates 7-2-2013
Today's mortgage rates recovered a portion of the territory lost during last week's surge, indicating that perhaps mortgage rates are still not down leveling off. The 30 year Fixed Rate Mortgage best execution rate is now 4.35%, pushing the 30 year FRM rate further...
Mortgage Rates 7-3-2013
Today's mortgage rates demonstrated increased market stability, either leveling off or climbing slightly. The 30 year Fixed Rate Mortgage Best Execution rate is now 4.37%, raising the 30 year FRM rate nearer to the 52-week high. Mortgage rates are not predicted to return...
Mortgage Rates 7-8-2013
If you are wondering, will mortgage rates go up tomorrow? the answer is most likely yes. On Friday, July 5, rates shot catastrophically higher following a strong Employment Situation Report, indicating that June job creation was more significant that was expected. Federal...
Mortgage Rates 7-9-2013
If you are wondering, will mortgage rates go up tomorrow? the answer is probably not. Today's rates recovered approximately 1/3 of the ground lost last Friday, July 5, when rates moved catastrophically higher in response to a strong Employment Situation Report. The...
Mortgage Rates 7-11-2013
If you are wondering, will mortgage rates go up tomorrow? the likely answer is that rates are demonstrating volatility and could easily shift in either direction. Today's rates shifted upwards, loosing much of the ground gained earlier this week. If you are wondering,...
Mortgage Rates 7-12-2013
Will mortgage rates go up tomorrow? The likely answer is that rates are experiencing significant volatility and could easily shift in either direction. Today's rates moved downwards, reversing yesterday's losses. Will mortgage rates go down tomorrow? The likely...
Mortgage Rates 7-15-2013
Are mortgage rates going up tomorrow? Mortgage rates continue to fluctuate rapidly and could easily shift in either direction. Today's rates moved lower, recovering much of last week's losses. Are mortgage rates going down tomorrow? Although rates are low by...
Mortgage Rates 7-16-2013
Are mortgage rates going up tomorrow? Mortgage rates continue to demonstrate instability and could easily shift in either direction. Today's rates moved lower yet again, recovering the losses experienced last week. Are mortgage rates going down tomorrow? Although...
Mortgage Rates 7-17-2013
The question of whether mortgage rates are going up tomorrow is an uncertain one. Mortgage rates yesterday remained almost unchanged, showing signs of stabilizing. Are mortgage rates going down tomorrow? Mortgage  rates remain low by historic standards and are...
Mortgage Rates 7-18-2013
The question of whether mortgage rates are going up tomorrow is full of uncertainty. Mortgage rates yesterday dropped following Bernanke's testimony. Are mortgage rates going to go down tomorrow? Mortgage rates continue to be low by historic standards and...
Mortgage Rates 7-19-2013
If you are wondering whether mortgage rates are going up, the answer lies in today's rate behavior and the likelihood that this upward trend will continue. Mortgage rates yesterday rose for the first time in six business days. Are mortgage rates going to go down tomorrow?...
Mortgage Rates 7-22-2013
Will mortgage rates rise tomorrow? The answer lies in Friday's rate behavior and the likelihood that this downward trend will continue. Mortgage rates Friday receded slightly. Are mortgage rates going to go down tomorrow? Mortgage rates remain low by historic...
Mortgage Rates 7-23-2013
Will mortgage rates go up tomorrow? The answer to this question lies with the results of the Treasury auction anticipated later today. It is expected that mortgage rates will remain stable throughout the week as no major market influencers are expected to take place. Mortgage...
Mortgage Rates 7-24-2013
If you are wondering if mortgage rates will go up tomorrow, the answer rests with US Treasuries markets and trading conditions among the mortgage-backed securities. Today's increase in rates is minor and experts predict the climb is simply part of the leveling off...
What is a Refinance Loan?
Refinancing is when you get a new mortgage loan, typically with better terms, to pay off and to replace your existing mortgage.. One of the advantages of refinancing your home is the ability to reduce your interest rate. By having a lower interest rate you are more likely to pay...
Refinance Closing Costs
The costs of a refinance will differ depending on your lender, location, and loan amount. However, some costs will most likely stay the same. In general, you will end up paying anywhere from 3% to 6% of the loan’s principal balance.. Upfront FeesWhen you refinance a home,...
How to Refinance a Mortgage
With today’s mortgage rates approaching historic lows, many homeowners are wondering how the mortgage refinance process works.. A mortgage refinance is fundamentally similar to obtaining a first mortgage. First, you must apply for the mortgage. The bank will respond...
How to Refinance After Bankruptcy
Bankruptcy can be very unsettling, demoralizing and stressful. The challenge of obtaining a mortgage after a bankruptcy has increased with  new regulations. But it is still possible to obtain a mortgage if you plan accordingly and take steps toward financial recovery....
Mortgage Rates 7-25-2013
Will mortgage rates go up tomorrow? The answer to this question lies with today's upward movement, which suggests that mortgage rates are still volatile and may continue to fluctuate in anticipation of next week's important events. Today's increase in rates...
Definition of an Adjustable Rate Mortgage (ARM)
An Adjustable Rate Mortgage is a type of loan where the initial mortgage rate remains fixed for a time --typically 3, 5, or 7 years. After this period, the rate begins to shift up or down depending on changes in the mortgage marketplace. . ARM rates are bound to an...
Mortgage Rates 7-26-2013
Are mortgage rates going up tomorrow? The answer falls somewhere in line with today's slight downward shift, indicating that mortgage rates are settling into a brief period of dormancy awaiting next week's market moving events. Are mortgage rates going down...
Mortgage Rates 7-29-2013
Are mortgage rates going up or down tomorrow? The answer falls somewhere in line with Friday's minor improvements, which analysts say are simply preparing for major market events set to take place this upcoming week. The directional movement of mortgage rates is...
Adding a Balloon Payment to an Owner Financed Note
Should you add a balloon mortgage payment to your note? . It can improve the value of the note, so it may not be a bad idea. However, it can be a dangerous decision. Read on to learn how to reduce the risks associated with this type of mortgage note addition.. Any of the factors...
Mortgage Rates 7-31-2013
Are mortgage rates going to go up or down tomorrow? The answer is foreshadowed by today's practically nonexistant rate changes, which serve as a warning that rates may shift suddenly following GDP, ADP Employment data and a Fed announcement this week. Experts predict...
Mortgage Rates 8-1-2013
Are mortgage rates going to go up or down tomorrow? The answer is foreshadowed by yesterday's volatile rate changes, which ended with rates back in an almost identical position to where they started. Rates were expected to move quickly after yesterday's Fed...
What Is Joint Tenancy?
Ever thought buying a home was out of your reach? Ever wanted to invest money somewhere, but would prefer to dip your foot into the pool to test the waters instead of diving in head first? If so, Joint Tenancy is a viable option for anyone looking to buy a home without taking the...
What is an FHA Loan?
FHA loans are insured by the Federal Housing Administration. Since FHA guarantees to pay the balance in the event of a loan default, rather than the lender having to write it off, FHA loans are open to people with little to no credit history, poor credit history or to those...
Mortgage Rates 8-06-2013
Are mortgage rates going up or down tomorrow? For the most part, mortgage rates remained unchanged from yesterday to today. There were a few slight increases, but lenders hardly changed their rate sheets. Most likely, rates will continue to rise as markets are in a rising rate...
What Is Amortization?
Amortization is the act of paying off debt through regular payments over time.  A predetermined amount of every payment is reserved for interest and the rest of the payment is set towards reducing the principal balance.  Therefore, a car loan and a mortgage are both...
Mortgage Rates 8-7-2013
Are mortgage rates going to go up or down tomorrow? Mortgage rates this week have remained almost entirely flat, continuing last week's trend of non-volatility. The lack of volatility is due to the fact that there is very little market moving events currently taking...
Mortgage Rates 8-8-2013
Are mortgage rates going up tomorrow? Today's mortgage rates did not change very much from yesterday, moving slightly lower overall and maintaining the relatively steady course rates have been on since last week. Tomorrow's rates are likely to...
Mortgage Rates 8-9-2013
Are mortgage rates going up tomorrow? Today's mortgage moved lower, showing more movement than rates have trended towards during the past two weeks. The shift is attributed to the Jobless Claims report released earlier today. Will mortgage rates go down...
Should I Use a Credit Union, Bank or Broker for My Home Loan?
When you're looking to buy a home, you'll quickly learn that there are many decisions to make, one of them being your choices in lenders. Sifting through your mortgage lender options is no easy feat! You must consider your purchasing intentions, your...
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