The US Treasury department released new details this week on its upcoming program to encourage lenders to modify loans for homeowners.
The program includes annual payments to the lenders of up to 1000 for approving the modification and additional bonuses if the homeowners are still in their home five years from now. Investors [...]
Adjustable Rate Mortgages with lots of payment options have fallen out of favor, and banks are falling over themselves to help their customers refinance into more stable notes. But if you already have a stable 30 year fixed mortgage, should you consider refinancing it now?
Here are some examples of how costs might differ if [...]
If you find yourself five years into a thirty year mortgage and lenders start dangling lower interest rates, is it worth it to bite? Well it depends on your circumstance, but sometimes it isn’t. Many mortgages are front loaded on interest payment. It is only when you are five or six years [...]
WASHINGTON - The U.S. Department of Housing and Urban Development today launched a new, comprehensive website to assist Americans with improving financial literacy, sustaining healthy homeownership and achieving financial security. The My Money, My Home, My Future website provides a range of interactive resources to inform users about the importance of financial literacy, including [...]
WASHINGTON (AP) — With mortgage rates sinking to the lowest level since the early 1960s, homeowners around the country are giving themselves an early holiday present: a refinanced mortgage with lower monthly payments.
Should you be doing the same?
Advice about the loan modification process to help avoid foreclosure on your home.
The depends mainly on [...]
I hate to quote complete articles, but this analysis from USAToday is so powerful, and so sobering, we thought that it was well worth reading.
More room to fall?
For every $100 spent on a house in 1950 the investment rose slightly through 2002, then soared to about $192 in 2006, adjusting for inflation. Then credit [...]
SUBSCRIBE
