Rise in Overdue Mortgage Payments

In the first three months of this year more than a fifth of homebuyers in the UK, who have a chequered credit history, have fallen behind on their mortgage payments and even those with top-quality ratings have seen a statistically significant rise in delinquencies. New research from Standard & Poor’s is based on the behaviour of homebuyers, whose loans have been packed in to mortgage-backed-securities, accounting for 80 percent of the £43bn sub-prime mortgage market. [more...]

Date: 2009-09-25 03:11:53

Blog posts (617) | Videos (433)
 

Moral Hazard of the Coming Mortgage Bailout

“Why am I being punished for having bought a house I could afford? I am beginning to think I would have rocks in my head if I keep paying my mortgage.” -Todd Lawrence, Norwich, CT homeowner with a traditional 30-year mortgage > Herein lies the simple problem in trying to “save” so many mortgages: A huge swath of them should not be saved [more...]

Date: 2008-10-31 14:09:11

Mortgage Calculators Are Useful Instrument to Evaluate Your Options

The highest aspect/priority on each person’s mind while submitting an application for a home loan is getting the lowest mortgage rate. There are a number of lenders, who are ready to offer you excellent deals. In addition there are a few who will look as if they charge you less on the other hand, they may have a lot of hidden costs. You have to be cautious once it comes to deciding on your lender. It would help you if you collect as much as necessary information on mortgage loan in most cases. [more...]

Date: 2009-09-29 18:16:11

Barriers and Problems Refinancing a Home Mortgage in 2009

My quest to refinance my home mortgage continues. Rates are around 5.00% with no points for a 30 year fixed, last I checked ... with a maximum amount, similar a credit card. You don’t receive a lump sum, but rather withdraw ... for private mortgage insurance (PMI) or take out a home equity line of credit (HELOC). Private Mortgage [more...]

Date: 2009-01-14 11:00:51

Mortgages Market Update: 01/09

Before I begin I would like to apologize for not posting anything in a while, it has been a little crazy here in the mortgage world (thank God) ... ! If you have a mortgage that is over 6.00%, a home equity, and you are not over the limit of $625,500 (NYC and many other counties nationwide) you should contact your mortgage loan officer/broker to refi! [more...]

Date: 2009-01-02 16:45:46

Making the most of mortgage overpayments

By Rupert Jones Shock news: Brits are repaying their debts. For years we were Europe’s most credit-happy consumers, unable to resist the lure of super-sized mortgages and seemingly addicted to flexing our plastic – but now it looks as if we have caught the thrift bug. Bank of England data issued this week shows that, for the first time since records began in 1993, homeowners are paying back more on their mortgages than homebuyers are borrowing. [more...]

Date: 2009-09-07 01:09:47

A Brand New Mortgage Calculator Widget

For the real estate professionals and web publishers out there — we now have another widget that you can utilize to quickly and easily add great ... visit Zillow Mortgage Calculators to see this content. Get custom loan quotes — anonymously Zillow ... current rate to plug in. Most mortgage calculators list 6% as the default interest rate, but mortgage [more...]

Date: 2008-10-03 19:13:56

Thinking Of A Mortgage Loan Modification? Evaluate Your Current…

Homeowners have different reasons why they need a mortgage loan modification. Many are prompted to apply for a new loan because of lower interest rate. Some are changing from adjustable rate to fixed rate. Others want to tap the equity of their home for home improvement, take a vacation or pay for college tuition.But whatever it is, mortgage refinancing provides an opportunity to save money. But how will you know if you can really save by refinancing your current loan. [more...]

Date: 2009-09-29 17:48:03

A Quick Look At Mortgage Refinance

by Ned Dagostino Mortgage refinance is an option most house owners look at from time to time. The big question they ask themselves is: Should I? ... to manage. You can refinance the mortgage and get a loan large enough to pay off all the small debts ... Well, that depends on the particulars of the case. Generally people go in for mortgage refinance [more...]

Date: 2009-01-16 04:05:52

CountryWide Mortgage - Tales from the Crypt

This story just goes to show how messed up the entire mortgage industry is. Even after being bailed out by the tax payers (through Bank of America), this slimy and very irresponsible mortgage company just does not know when to just stop their crap. From MSNBC News: Defending lawsuit, mortgage company mocks loan modification assurances… [more...]

Date: 2009-01-15 19:58:06

Posts about Foreclosures as of August 2, 2009

Reverse mortgages to the rescue – instantloanreview.com 08/02/2009 Reverse mortgages have been around for nearly 20 years, but it wasn’t until the current financial crisis that they caught on. Seniors are turning to these loans to tap the equity in their homes and generate tax-free income to help them ride out hard times. For Frank and Carol Rider, a reverse mortgage is providing a cushion, giving their investments time to recover from the bear market. [more...]

Date: 2009-08-02 12:05:22

When is a 5.5 Percent Mortgage Rate Really a 3.96 Percent Rate?

It’s income tax season again ... , but it will suffice for a rough estimate.  Seek out one of many online mortgage calculators to assist ... of mortgage interest tax deductions is one reason why loan officers make reference to “after-tax mortgage [more...]

Date: 2009-01-14 19:45:51

Mortgage Calculators - 3 types of computers and their benefits

Selecting a mortgage without the help of a computer can cost thousands of dollars. That is why it makes sense to use one before committing. Here is a brief description of the 3 types of mortgage calculators and benefits of their use. Accessibility lt;strong> Calculator A good way to start or not knowing whether what is proposed is your ability to pay. To answer this question, you need to know what would be the monthly payment on a loan project. [more...]

Date: 2009-06-12 14:13:44

2nd home mortgages

2nd home mortgages start a new loan account by paying off the first mortgage ... have on your existing mortgage and present debts, such as your credit cards, that this would be a good way ... and checking your credit reports should be followed.Its fee includes settlement costs, discount points etc [more...]

Date: 2009-01-14 03:52:19

Mortgage Rates

Mortgage rates are slightly improved from last Friday’s rates by about 0 ... with the Fed’s move to purchase mortgage backed securities and agency debt…the question is to homeowners, what rate will it take for you to refinance and/or is there a mortgage rate low enough that would [more...]

Date: 2008-12-19 18:21:45

Calculating Your Mortgage Refinance Payback Period

In talking about refinancing, I recently mentioned the concept of the mortgage refinance “payback period, ... . While there are a number of mortgage refinance calculators available online, I thought I’d give ... to apples, simply tabulate your principal, interest, and any applicable mortgage insurance under the two [more...]

Date: 2009-01-14 15:36:35

"Effective Nationalization of the Mortgage Finance Sector"

James Kwak says it's likely that the new administration will get behind the Hubbard and Mayer plan to have Fannie and Freddie buy mortgages and refinance them at 4.5%: We Have a Winner?, by James Kwak: After seeing dozens of mortgage ... are mainly a function of real mortgage rates. While they acknowledge that other factors took over [more...]

Date: 2008-12-21 18:17:00

100% Home Loan Financing – Bend your muscles

Listen with the current "mortgage meltdown" we are so much about that day, your average consumer thinks that the days of the 100% financing have gone by the wayside. It's true, you are hard pressed these days to a bank or lender who want to carry a second mortgage will find that adding combined with a first mortgage, financed at 100%. This is because if there is a standard, sit in second lien position is particularly risky. Too much risk is involved. [more...]

Date: 2009-09-19 11:52:46

Beneficial Finance - Mortgage Review

Beneficial Finance, does personal, auto, and mortgage lending as a retail subsidiary of mega-bank parent HSBC Group (NYSE: HBC) ... of Beneficial Finance should be avoided. They are big pushers of credit cards, home equity loans, and debt consolidation mortgages. You can’t expect much better being a subsidiary of HSBC Mortgage [more...]

Date: 2009-01-14 22:05:31

Biweekly Mortgage Payment Plan: BiSaver vs. Do It Yourself

Most homeowners know that they have the option to pay more than their required monthly mortgage note, which will directly reduce the principal ... ?) this can significantly shorten your loan period. Whether or not this is a mathematically ... , one of the more popular ways to do this is the “biweekly payment plan”. Imagine you had a 30-year mortgage with a [more...]

Date: 2008-09-04 13:17:55

Re-default nation

The big question looming over the push to rewrite the home loans of people struggling to make payments is whether or not such mortgage ... % of all first mortgages in the U.S. Dugan called the results, part of his agency's new Mortgage Metrics report ... numbers to have since historically we haven't—and problem solving often starts with data collection [more...]

Date: 2008-12-08 17:35:26

Los Angeles Mortgage Rates Report: January 14, 2009

The US Treasury Department has been supporting the mortgage bonds market, in order to keep mortgage rates under 5% ... the “flow” of mortgage loans.  The big banks, like B of A, Citi, and Wells, loan direct or buy loans ... t have the horses to ride since they laid off so many workers in 2008. 2- Greed:  Lenders typically made a loan [more...]

Date: 2009-01-14 06:35:15

Obama's Brilliant Idea? Spend More Money On The Deadbeats Who Couldn't Pay The Mortgages They Shouldn't Have in The First Place

Great fiscal dem policy to start off a new administration, get or save mortgages for people who are here illegally, or those who have no SS #s, ... to pouring it towards bad debt after bad debt? I paid off my mortgage per the rules set forth ... or no jobs, most importantly with no way to pay the present mortgage a second lifeline [more...]

Date: 2009-01-15 06:13:00

Mortgage Helper

My sister wants to buy a property here in Sacramento. Now that the market is favoring the buyer.. it’s really a perfect time to buy! ... various tools like Mortgage APR Calculator, Mortgage Loan Calculator (PITI), Reverse Mortgage ... monthly payment for your car loan(s). Credit card payments [more...]

Date: 2008-10-27 15:54:13

Pertinent Tidbits on Burning Mortgages and Hiring Service People

On Burning Your Mortgage As you may know I co-own an insurance agency with my son. To say we have a varied clientele is to understate the characters in our portfolio. I write this first piece based on one of them. Actually they are a couple who paid off their mortgage and were ecstatic [more...]

Date: 2008-11-07 20:53:13

Mortgage Refinance – Tips and Ideas to Help You Apply For Mortgage

Mortgage refinance is one of the best ways to save money and increase savings. Doing your homework in terms of research will definitely help you to avoid the hidden cost and other expenditures. It not only lowers the monthly payment as the interest rate drops but also shortens the tenure of the loan period which is anytime beneficial to clear the debt as soon as possible. [more...]

Date: 2009-09-29 18:16:17

One in Ten Mortgages in Crisis: How To Make Smart Real Estate Decisions in Today’s Market

I couldn’t believe my eyes this weekend. I was watching CNN (no surprise), and as I was listening to the live coverage of O ... rate. I researched different mortgage loans. Plus, I was freelancing for a mortgage and loan website ... with an interest only home loan, we chose predictability over payment shock. Don’t “Splurge” [more...]

Date: 2008-12-15 18:18:27

Time to Refinance?

It’s a good thing I don’t have a job! Or else I’d be refinancing again… I think in the past 7 years, we’ve had 3 houses, and at least 8 mortgages! ... d break even in about 16 months. More about our mortgage is described in The Perfect Ten Year Mortgage. Here’s another good break even calculator. Where to Look for Best Rates If you are shopping [more...]

Date: 2009-01-15 14:29:45

Two clubs for small mortgage banks; Freddie pushes back 10/1 changes; GMAC steps in to TBW role

  Out here in California, some in the business have been following the case of 28-yr old Garret Gililland III. Originally from the Sacramento area, he was just captured in Spain and brought back to California to face charges of a $100 million mortgage fraud ring. In yet another example of what seems to make the headlines for mortgage brokers, Gililland fled in June 2008 with at least $250,000 in cash. [more...]

Date: 2009-09-28 14:40:26

Mortgage-backed insecurities

If you don’t have enough down payment money to qualify for a traditional mortgage, the government forces you to buy mortgage insurance ... with little (or nothing) down, you may soon be in negative equity. This is the case with about ten ... can only lend 80% of the value of a home without it, you can imagine how many loans fell [more...]

Date: 2009-01-15 02:31:53

Top Ten Things to Know if You’re Interested in a Reverse Mortgage

Reverse Mortgages are becoming popular in America. The U.S. Department of Housing and Urban Development (HUD) created one of the first ... that lets a homeowner convert a portion of the equity in his or her home into cash. The equity built up over years of home mortgage payments can be paid to you. But unlike a traditional home equity loan [more...]

Date: 2009-01-15 19:53:15

OBAMA’S ‘ORGANIZER’ BUDS PUSHED FOR BAD MORTGAGES

O’S DANGEROUS PALS By STANLEY KURTZ, NY POST Chutzpah: ACORN’s drive to lower mortgage standards paved the way for the meltdown - yet last week, ... banks into making high-risk loans to customers with poor credit. In the name of fairness ... in mortgages to low-credit customers. In other words, community organizers help to undermine [more...]

Date: 2008-10-13 03:22:59

Suzee Orman Says “Pay off Your Mortgage, Boomers” - But I’m Not Sure

Suze  Orman has a new book that she’s promoting on Oprah’s website: Suze Orman’s 2009 Action Plan ... Your Mortgage says that carrying mortgage debt into retirement can wreak “financial havoc.”  He takes the reader through three scenarios of mortgage repayment, to review the tax effects of paying off [more...]

Date: 2009-01-12 16:48:32

Making Money From Foreclosures

My neighbors, clients and friends have been good about sharing some of their mail with me when they have a question about it ... mortgage payment and a fee of $200 dollars to renegotiate home mortgage loans with banks.  He said ... with the person who answered the phone. When he asked if I was late on my mortgage payments I said [more...]

Date: 2009-01-14 21:06:05

A New Way to Integrate Mortgage Rates Into Your Web Site

We already have two mortgage widgets (mortgage rates and a mortgage calculator) ... monthly payment per loan type (30-year fixed, 15-year fixed, and 5/1 ARM). If a ZIP code is entered ... an estimated monthly payment for a specific loan amount based on today’s live rates is the bigger win here [more...]

Date: 2008-09-24 19:41:09

Mortgage Rates Dip to Low 5’s

criteria that I use for pricing Friday’s rates.  Do check with your local Mortgage Professional to see what rate you qualify for.  What’s caused this big dip?  You can thank the Fed for stepping in to buy $600 billion of mortgage backed securities (MBS) backed by Fannie, Freddie and Ginnie. I’m off to lock in some interest rates…bye for now! [more...]

Date: 2008-11-25 16:14:43

Government Share of Mortgage Apps Soars

"The latest proof of the government’s growing influence in the mortgage banking sector came Tuesday morning from the Mortgage Bankers Association, ... for government-insured loans — primarily borrowers looking to apply for an FHA-eligible loan, although VA loans are included in the total as well — compared to 10.3 percent one year ago." [more...]

Date: 2008-11-25 19:47:43

Subprime Defaults Are Just The Beginning

If you thought we were almost done with the collapse of the mortgage market, you are sadly mistaken. Last night 60 minutes did a piece about the looming wave of mortgage defaults, Alt-A and option ARMs. While, as Scott Wilson outlines below in his guest post on Your Mortgage or Your Life, 60 minutes did not do a fabulous job on this story, [more...]

Date: 2008-12-15 23:37:29

What is a reverse mortgage?? Do I want it?

by Doc Schmyz If you have already heard the term reverse mortgage, it still sounds like a strange thing ... is so these questions can be answered. The name is somewhat misleading. A reverse mortgage is a loan ... citizen’s income. The amount depends on the homeowner’s age, equity of the house, interest rate [more...]

Date: 2009-01-10 00:52:47

Top 17 Reasons Homeowner’s Default On Their Mortgage

Top 17 Reasons Homeowner’s Default On Their Mortgage Posted by Aaron Rice under For Buyers, For Realty Professionals, For Sellers, ... 16. Too much debt 17. Inheritance Most mortgage companies or lenders require the hardship letter ... who contact us on a daily basis to help determine the value of their assets. You can be sure [more...]

Date: 2009-01-15 14:59:13

Chief Family Officer's New Year's Resolution: Pay off all non-mortgage debt

I've been feeling very sympathetic about PaidTwice's current dilemma: She's super dedicated to paying off her family's non-mortgage debt, ... a reliable car. Like PaidTwice, I am torn. On the one hand, I very much want to wipe out my Stafford loan, which is our only remaining non-mortgage debt. But Marc and I are both facing some uncertainty [more...]

Date: 2009-01-02 19:47:01

Breaking the Bank News: Millions of Fraudulent Mortgages

by Moe Bedard on September 23, 2009 · 0 commentsin American Nightmare Like all of us, I was sorry to learn that Lies of Our Times could not be sustained. It’s a real loss, and another signal that we have our work cut out for us in times that are in many ways ominous, but that also offer a good deal of hope. – Noam ChomskyThe headlines say it all, Honorable Judges of Kansas: “MERS had no right to the underlying debt repayment secured by the mortgage”. [more...]

Date: 2009-09-23 22:30:25

US Interest Rates Zero to 0.25% and soon 4.5% US mortgages

Hale Bonddad Steward at Huffington Post has a lot of charts that show the bad financial situation ... to refinance a mortgage at 4.5%. The Fed and the Treasury appear ready to start buying up large quantities of securities -- government debt, mortgages, commercial loans, even stocks -- from banks [more...]

Date: 2008-12-16 20:29:22

How To Select The Right Mortgage Calculator For Your Needs.

Your dream house may not be everyone else idea of “Home, Sweet Home,” but it’s going to be all yours. Now if you can just figure out how to finance that bit of real estate. Not wanting to leave any stone unturned, you’re on this site to get some background for your decision. One kind of mortgage calculator (”how much house can I afford” type) takes a look at your budget and, with your input, works out how much you can afford to pay, either monthly or annually. [more...]

Date: 2009-09-11 00:01:41

Mortgage Rates Hit Record Lows, But Does it Matter?

The average U.S. rate on a 30-year fixed mortgage fell to 4.96 percent this week ... Reserve is buying large amounts of mortgage-backed securities in the hopes that lenders will reduce ... to refinance their existing loans. We just saw a stat saying as many as half can’t meet the credit [more...]

Date: 2009-01-15 19:12:32

Credit Score Disclosure

Pulling a credit score is one of the first things a mortgage planner does before submitting your application to a lender.Once the score is obtained, clients often wants to know what their score is.  What many don’t realize is that mortgage planners generally can’t tell them.Equifax, the main credit bureau in Canada, has very strict rules that restrict brokers from disclosing credit scores to borrowers.  Brokers who violate this policy are subject to termination of their license from Equifax—not [more...]

Date: 2009-09-29 07:06:00

Use A Mortgage Calculator To Find The Best Deals

by Dan Winters The following article covers a topic that has recently moved to center stage–at least it seems that way. If you’ve been thinking you need to know more about it, here’s your opportunity. Interest only payments do not include any form of repayment vehicle such as an ISA or endowment or any life cover costs. The mortgage repayment cost includes capital and interest payments but makes no provision for life cover costs. Interest rates can fluctuate during the course of a year. [more...]

Date: 2009-07-22 09:58:46

All Time Low Mortgage Rates For A++ Borrowers Only

As discussed on December 31, 2008 many homeowners attempting to lower their mortgage rate apply for a refinance, ... income (debt ratio of 32% or less) and substantial equity in the home (loan to value of 75% or less ... and won’t get approved. Only about a third of U.S. mortgage debt outstanding is likely to qualify [more...]

Date: 2009-01-15 08:09:46

Mortgage Quotes

Are you looking for some information about mortgages? ... , debt consolidation, and tax debt loans. If you want to know more about this site just check them ... it to one site to another. They will compare the mortgage loan rates to others if they can get it quick [more...]

Date: 2008-11-16 04:13:19

Mortgages: 2009 Advice

Mortgages: 2009 Advice Mortgages: 2009 Advice With all the doom and gloom over housing, ... . Not if you have poor credit, to be sure. But you can get a great deal on a 30-year, fixed-rate, conforming loan ... and borrow now. During ordinary times, one loan is about as good as another because most lenders [more...]

Date: 2009-01-12 11:16:01

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