The Illinois Attorney General has proposed legislation that is designed to help homeowners who are struggling to pay their mortgages.
Lisa Madigan’s proposal seeks to impose rules on companies that offer to help property owners but either do nothing or sell the homes to a third party.
“Because we see more people fall victim to these consultants […]

Reverse Mortgages can now give you more funds than ever before with a nationwide lending limit elevation on January 1st of 2006. Now borrowers can utilize more of their home’s equity without the burden or risk of making monthly payments, and still leave enough value in the home for your heir’s legacy.
The Reverse Mortgage is […]

While the lender will be asking for you for a lot of background information in order to ensure you are the best fit for the money they will loan out, there are critical questions you should ask the lender as well. Failure to ask mortgage lender the right questions can result in misunderstanding and ultimately […]

Home equity loans are an extremely popular source of credit. Lenders offer dozens of varieties of loans making it very easy to tap the equity in your home. If you browse the marketplace online, you will find most of these loans come with variable interest rates. Some loans are marketed with very low introductory interest […]

Rates on 30-year mortgages held at recent lows this week, edging up only slightly as investors anticipated another rate hike from the Federal Reserve, a national survey found.
Mortgage giant Freddie Mac said its survey showed that rates on 30-year, fixed-rate mortgages rose to 6.12 percent, up from 6.10 percent last week.
Rates had been falling since […]

First lets recap on the steps generally involved in a successful mortgage application.
Basic steps involved in all mortgage applications
Calculate your budget and the amount you need to borrow. There will always be additional costs over and above the purchase price when buying property. These include legal fees and taxes, property registration fees, valuation fees and […]

In recent years property values have soared, while investment returns have been modest. This has created a situation where a lot of seniors are finding themselves in the position of being house rich and cash poor. These cash strapped seniors are looking for ways to increase their retirement income while continuing to live in their […]

A home equity loan enables a homeowner to secure money using his home as collateral. This is can be helpful for borrowers seeking a huge sum and those with poor credit histories. Bad credit home loan lending institutions or lenders are generally more open to such loans, as borrowers are less likely to default on […]

If you have a history of bad credit, you will find it more difficult to find a lender who is willing to approve a mortgage for you. Although the increase in the number of people with debt problems has led to a similar increase in the number of adverse credit mortgages available, there are only […]

Rates on 30-year mortgages fell for a sixth straight week, dropping to the lowest level in three months, according to a weekly survey released Thursday.
Mortgage giant Freddie Mac said rates on 30-year fixed-rate mortgages dipped to 6.10 percent this week, down from 6.15 percent last week.
Rates have been falling since mid-December when rates on the […]