21st June 2008
FHA Closing costs differ from conventional mortgages by the amount the lender can charge and the amount of insurance coverage homeowners are required to have. FHA mortgages are the last of the government sponsored mortgages. Fannie and Freddie started out...
20th June 2008
Today more and more people are turning to balance transfer credit cards to help save money. With mortgage companies being fickle about whom they loan money to, and gas prices at $4 bucks a gallon people’s credit card balances are stacking up. Fortunatel...
20th June 2008
Unnecessary closing costs are charged to unsuspecting borrowers on almost all mortgages that close. Closing costs can be broken into three general categories, costs that the lender charges, costs that third parties charge and money that is paid on your be...
13th June 2008
There are many techniques to negotiating a new home purchase. Almost everyone has their own brand and approach to negotiating, as evidenced by the dozens of books written on the subject. There really isn't a right or wrong way to negotiate as long as yo...
02nd June 2008
America’s two largest mortgage controllers, Freddie Mac (FMLC) and Fannie Mae (FNMA) recently agreed to enact tougher standards on appraisers and lenders beginning in January 2009. FMLC and FNMA buy mortgages from all facets of the mortgage industry ...
23rd May 2008
The looming mortgage crisis has affected almost everyone in all facets of life. When the homes stop selling the builders stop building, the carpenters stop nailing, the painters stop painting, paint stores stop selling and Home Depot stock hits record low...
21st May 2008
Slowing foreclosures have given a spark of optimism to investors on Wall Street who see the trend beginning to slow down. For the last year the foreclosure rate has steadily risen month by month over the previous year’s month of foreclosures causing spe...
13th April 2008
It’s the same ole same ole, sound-bites and finger pointing as to who can solve the mortgage crisis plaguing American homeowners. During an election year it’s harder than usual to separate the malarkey from the earnestness of the politicians on thi...
10th April 2008
With all of the foreclosures and bankruptcies that are being triggered by the subprime mortgage crisis why don’t lenders just put all of these homeowners in better loans? We are asked this question on our mortgage blog quite often. It’s a reasona...
09th April 2008
As the baby-boomers prepare for retirement reverse mortgages are going to be the next mortgage boom according to most analyst. The baby boom began in 1946 and continued through 1964. During those 19 years, 76 million people were born. As this segment...
09th April 2008
It’s an epidemic that hasn’t been seen since the great depression; houses are being foreclosed at three times the normal rate in some counties across America. As a result of this sudden rise in foreclosures a new type of business has sprung up with...
07th April 2008
I just read an article that is titled "Taking a hard line on rewriting the bankruptcy code" by Edward L. Glaeser, a professor economics at Harvard University. I am in awe at how well it summed up the mortgage crisis in one short article. I am a retired...
07th April 2008
Credit scores are the determining factor on how good the deal is for most of the major purchases we make in life. Managing your credit wisely can save thousands of dollars over one's lifetime and even contribute to a comfortable retirement. Think about...
07th April 2008
Everyone by now is aware of the looming mortgage crisis and has probably added their two cents as to its cause and effect on the financial world. Having been in the mortgage business a little over ten years I have read most of the press that is cover...
04th April 2008
Airline miles and frequent flyer credit cards can be a great way to save money on vacations and airline tickets. As with most products, knowing the differences between the products that are available is the key to making sure you get your best deal. Th...
