If you’re like many seniors, your home is your largest asset, and although you are concerned about the thought of borrowing against it, your house may be the only way to increase your income.
Rising real-estate prices have caused many seniors’ homes to significantly increase in value. But unless they are willing to sell, it may […]

Buyers are often tempted to jump into refinancing their home loan in order to save a half (or quarter) percent on their existing mortgage. Unfortunately, those “no cost” loans are rarely “no cost”. Here are a few tips to help make sure your home loan is a true no cost loan.
Verify how the lender gets […]

If you are a saver, and many of you are, than the need to locate a down payment will not be an issue for you.
But there are also many of us out there that have not had the luxury to save as much as we would have liked for various reasons. With this challenge at […]

Traditionally, homebuyers could look to two forms of mortgages – fixed rate and adjustable mortgages. While there are now many more options, this article takes a look at the adjustable rate mortgage.
What is an ARM Loan?
An adjustable rate mortgage [“ARM”] is a basic mortgage with one important exception. With an ARM, your interest rate will […]

Debt Management Plans (DMP) is placed one step beyond credit counseling and a stone throw short of bankruptcy. If you are too deep into debt and unable to pay them, a credit counseling agency may recommend Debt Management Plans. This is a serious step that should be considered carefully along with better money management skills […]

Remortgage or refinance is a right that lenders of the yesteryear were afraid to offer to borrowers. In fact, remortgage was severely prohibited through clauses such as early repayment penalty. The logic was that by refinancing the borrowers were actually paying off the mortgage earlier. In this manner, the lenders lost a large amount in […]

Kenneth Harney, a highly respected columnist for the Washington Post, expressed surprise in his column recently because home buyers in high-cost parts of the country like California, Hawaii, Boston and Washington, D.C. are not leading the nation in mortgage delinquencies.
Mr. Harney stated (in near amazement) that the opposite is actually true-that home owners in the […]

Rates on 30-year mortgages rose this week to the highest level in 15 months while one-year adjustable rate mortgages climbed to the highest level in 4 1/2 years. Analysts expect rising mortgage rates to cool the booming housing market in coming months.
Mortgage giant Freddie Mac reported Thursday that the nationwide average for 30-year, fixed-rate mortgages […]

Wells Fargo said Monday that a survey it commissioned found many Americans are paying against principal on their interest-only mortgages despite rising gas prices and sharp declines in consumer confidence.
As part of a national survey of more than 1,300 home owners in August, respondents were asked about their financial behaviors and attitudes regarding interest-only loans, […]

At certain times and in certain circumstances it actually makes more sense for someone to re-mortgage than to stay with their current lender and ride the waves of ever changing interest rates.
This article looks at five specific reasons to re-mortgage but first things first I must just point out that the information contained in this […]