LEARNING MORTGAGES

The Interest Only Home Equity Line of Credit: Borrower Beware

2006-07-25T08:19:00.000-07:00

Many people enjoy the flexibility of a home equity line of credit as a means to pay for that large project, college tuition, family vacation or the consolidation of other debt. If you have equity in your home, it's a relatively easy loan to be approved for, and it offers benefits like relatively low interest rates, tax-deductible benefits (in some cases) and the option to use the money for

My Lender Sold My Mortgage

2006-07-24T21:18:00.000-07:00

You have just found out that your mortgage has been sold or transferred to another lender.Don't worry. This is a normal process and does not affect the terms and conditions of your original loan. Most mortgage banks exist to sell mortgages in the secondary mortgage market. Consumer mortgages benefit from this secondary mortgage market by helping to keep mortgage rates low and affordable.This was

Bad Credit, No Credit, No Chance The Difference Between a Home Equity Line of Credit (HELOC) and a Home Equity Loan

2006-07-23T08:29:00.000-07:00

You've heard the mortgage lenders barking their bad credit, no credit loans on television and radio. "Even if you have been turned down by another lender, you will be accepted by XYZ mortgage no matter what kind of credit history you have or what crime you've committed. We refuse no one because everyone is human, subject to bad breaks once and awhile. Why should you be penalized for circumstances

Stated Income Mortgage Programs Defined

2006-07-22T21:23:00.000-07:00

The stated income mortgage program is a form of mortgage loan program that is part of a family of "low-doc" and "no-doc" loans, meaning little or no documentation is required for the loan. A conventional mortgage loan requires lots of documentation or "full-doc" including a list of all creditors, last two or three paycheck stubs, W-2s and returns on income tax for the past two years, bank

Single Female Homebuyers - Who, Where and What

2006-07-22T07:58:00.000-07:00

Who are these millions of unmarried women who have plunged into the housing market in the last few years and what makes them different from married couples or unmarried men? The Joint Center for Housing Studies at Harvard University recently released a study called Buying For Themselves: An Analysis of Unmarried Female Home Buyers which takes a comprehensive look at this group of homebuyer which,

Changes in Mortgage Rates and the Economic Factors

2006-07-20T01:35:00.000-07:00

Many consumers regard mortgage rates as moving targets, apparently governed by the whim of some ephemeral, capricious entity. People often feel confused and helpless by whatever rates mortgage lenders toss their way. Seemingly mysterious changes in rates can have a positive or negative affect on consumers and prospective real estate investors depending on investor purchasing and goals. In turn,

NEWS About Mortgage From MBA (www.mortgagebankers.org)

2006-07-19T11:52:00.000-07:00

Efforts Continue on FHA ReformMBA met with a number of Senators and staff, both on the Senate Transportation, Treasury, HUD Appropriations Subcommittee and the Senate Banking Committee, this week in an effort to increase support in the Senate for FHA reform. Additionally, Sen. Hillary Clinton (D-NY) wrote to Chairman Kit Bond (R-MO) and Ranking Member Patty Murray (D-WA) of the Senate

Single Women Home Buyers Finding A Home Of Their Own

2006-07-18T20:32:00.000-07:00

Have you noticed how many television ads for real estate and mortgage firms feature women as the decision maker, the person who is buying or refinancing a home?One could call it a case of Madison Avenue finally waking up or you could say it is simply reflecting reality.Single women now represent the fasting growing component of home buyers in the United States. According to the National

Mortgage Delinquency and Foreclosure Rates Remain Low

2006-07-17T23:04:00.000-07:00

So far homeowners seem to be keeping their heads above foreclosure in spite of fears that mortgage delinquencies and foreclosures might begin to mount as short-term rates rise. Add to that the possibility that some of the more exotic home loan products like optional payment and interest only mortgages might come home to roost and there has been cause for concern.American homeowners, however,

Mortgage Rates Ease While Freddie Mac Thinks Pressure May Be Off

2006-07-17T20:51:00.000-07:00

Mortgage rates backed off during the week ending July 13 and 14th, declining in every category tracked by both Freddie Mac and the Mortgage Bankers Association.Frank Nothaft, Freddie Mac's vice president and chief economist upped the optimism factor by stating that the financial markets now expect only one more rate hike by the Federal Reserve this year which should take considerable pressure off

40-Year Mortgage Rates: Lower Payments, Less Equity

2006-07-16T00:41:00.000-07:00

For years, the standard in the mortgage lending industry was a 30-year fixed rate loan. As opposed to other, shorter term mortgages, the low payments of a 30-year option was attractive to first-time homebuyers and those wishing to get much more house for their dollar. Yet as times change, home values have increased and mortgage companies have continued to change their services to suit their

Study Measures Mortgage Interest and Real Estate Tax Deduction Benefits

2006-07-15T07:25:00.000-07:00

Back in November we reported that The President's Advisory Panel on Federal Tax Reform had submitted recommendations to then Treasury Secretary John Snow. Principal among the panel's suggestions were the elimination of federal income tax deductions for state and local taxes which would include the current deduction for local property taxes and the replacement of the current deduction for interest

Application Volumes Increase in Latest Survey

2006-07-14T21:22:00.000-07:00

WASHINGTON, D.C. (July 10, 2006) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 30. The Market Composite Index, a measure of mortgage loan application volume, was 561.0, an increase of 5.9 percent on a seasonally adjusted basis from 529.6 one week earlier. On an unadjusted basis, the Index increased 5.9 percent compared

MLS and Commissions Under Attack Again

2006-07-13T19:17:00.000-07:00

This space generally reports on what is going on in the real estate and mortgage industry; rates, suggestions on buying or selling, news about Fannie Mae, Freddie Mac, or what is happening in building, the law, and so forth. Most of the time we try to do so objectively. Well stand by for a little attitude!There is a lot that is wrong with real estate brokerage and over the last two years, we have

Housing Bubble Watch: Freddie Mac Sees Orderly Cooling

2006-07-12T07:46:00.000-07:00

Freddie Mac issued its monthly "outlook" for the month of July as well as a round-up of the first half of 2006. While the report still projects a housing market that is undergoing a "moderate and orderly cooling," a comparison to the January outlook shows a slight decline in optimism.Freddie harkened back to one year ago to the first quarter of 2005 when home values were growing at a rate of 15.4

Green Building Is Now A Trend, Maybe One Near A Tipping Poing

2006-07-11T08:48:00.000-07:00

If there are bright spots amidst the recent gloomy energy forecasts the National Association of Home Builders (NAHB) and McGraw-Hill Construction may have found it.Their recent joint release "Residential Green Building SmartMarket Report" reveals an encouraging increase in the movement toward green building - an increase that indicates that, even by conservative estimates, green building will

State-by-State Mortgage Delinquencies

2006-07-10T01:46:00.000-07:00

If you're behind on your mortgage payments, you're in plenty of company -- especially if you live in Louisiana or Mississippi. More than one-eighth of borrowers from those hurricane-ravaged states are delinquent on their house payments, according to the Mortgage Bankers Association.You are counted delinquent if you are at least 30 days past due in your mortgage payments. Below is a list of the

Mortgage Rates Retreat and What Housing Bubble?

2006-07-09T09:53:00.000-07:00

Mortgage Rates Retreat A Bit But So Does Mortgage ActivityMost mortgage rates retreated ever-so-slightly during the week ended February 23, 2006 according to the Weekly Primary Mortgage Market Survey conducted by Freddie Mac and the Weekly Mortgage Applications Survey for the week ended February 24 which was released Wednesday by the Mortgage Bankers Association.Freddie Mac reported that the

Survey Finds Monthly Costs Outweigh Purchase Price of Home Ownership

2006-07-08T10:29:00.000-07:00

The National Association of Realtors (NAR) recently released a very interesting report on housing affordability; one that runs counter to most of the recent studies about this area of the economy.The fourth annual National Housing Opportunity Pulse is conducted by the NAR's Housing Opportunity Program which seeks to provide Realtors with the tools and information they need to promote community

Mortgage Rates Diverge On Surveys

2006-07-07T09:06:00.000-07:00

Once again Freddie Mac and The Mortgage Bankers Association have come up with very different results when they surveyed mortgage lenders about rates.Freddie Mac has released its Weekly Primary Mortgage Market Survey for the week ended June 29 and it shows some of the sharpest increases in mortgage rates in some time. This is the fourth straight week that mortgage rates have increased for all

Housing Bubble Watch: Reports Paint Confusing Picture

2006-07-06T09:16:00.000-07:00

The usual spate of monthly reports on new home sales, existing home sales, housing starts, and builder confidence were all released recently. Taken together they do little to clarify the state of the housing market.First out was the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for June. This index results from a survey of builder attitudes that NAHB has been

Mortgage Rates Up Substantially On Inflation Fears

2006-07-05T09:21:00.000-07:00

Freddie Mac's Weekly Primary Mortgage Market Survey reported that mortgage rates took a real leap during the week ended June 22. Average rates for 30-year fixed mortgages originated during this period were 6.71 percent with fees and points averaging 0.5 compared to 6.63 and 0.5 for the previous week. This was the highest level the 30-year had attained since May 31, 2002.The 15-year fixed rate

Listen Closely, The Housing Bubble Might Not Be Leaking

2006-07-03T09:46:00.000-07:00

Americans have been straining to hear the sound of the housing bubble bursting for many months, and according to the media on Monday, they might not have heard a pop but there was definitely a ssssst.A number of news reports flatly stated that the bubble had burst and the general and conventional wisdom seemed to be that the unprecedented growth in real estate sales and prices are over. This is

Mortgage Rates Retreat A Bit But So Does Mortgage Activity

2006-06-29T07:43:00.000-07:00

Most mortgage rates retreated ever-so-slightly during the week ended February 23, 2006 according to the Weekly Primary Mortgage Market Survey conducted by Freddie Mac and the Weekly Mortgage Applications Survey for the week ended February 24 which was released Wednesday by the Mortgage Bankers Association.Freddie Mac reported that the average 30-year fixed rate for the week was 6.26, a decrease

Listen Closely, The Housing Bubble Might Not Be Leaking

2006-06-28T07:40:00.000-07:00

Housing Bubble: Market Secure But Affordability Diminishing

2006-06-28T06:59:00.000-07:00

As it does periodically, the Harvard University Joint Center for Housing Studies has issued a report that is well worth the paper it takes to print it out from where it resides on-line.This most recent report, issued earlier this month, concerns a subject near and dear and overdone - the Housing Bubble. Harvard, however, takes a different tack; while it expects prices to remain stable, the focus

Five (5) Homeownership Tax Myths

2006-06-27T01:48:00.000-07:00

Owning a home tops the dream list for most Americans, and for plenty of good reasons. It's a shelter for your family, a gathering place for your friends and a good long-term investment.Tax breaks are also frequently cited as motivation for moving from renting to owning, and there are many ways a home can cut your tax bill.But, as is often the case with the U.S. tax code, homeownership tax

Last Chance To Consolidate Student Loans

2006-06-26T04:52:00.000-07:00

Deadline-oriented? If you or your college- or post-college-age child holds one or more Stafford or PLUS federal student loans, little time remains before the June 30 deadline to consolidate your loans and lock in a lower fixed interest rate.Each summer, the Department of Education adjusts the interest rate on its two most popular variable-rate student loans based on the three-month Treasury bill.

Mortgage Rates Resume Upward Climb After Long Holiday Vacation and Building Green Starts With The Land

2006-06-25T00:54:00.000-07:00

After six straight weeks in decline, mortgage rates spun on their heels last week and headed back up.Freddie Mac's Weekly Primary Mortgage Market Survey recorded increases in three of the four home financing products it tracks with the fourth, the 5/1 ARM remaining unchanged.The 30 year fixed rate mortgage increased to 6.12 percent from 6.10 percent the previous week and the 15-year fixed was up

Mortgage Rates Mixed With Rate Variations Regionally

2006-06-24T07:19:00.000-07:00

Mortgage rates were mixed for the weeks ending April 20 (Freddie Mac) and April 2 The Mortgage Bankers Association.) Freddie reported all rates up although only slightly while MBA noted small decreases.The 30-year fixed rate mortgage, according to Freddie Mac's Weekly Primary Mortgage Market Survey, averaged 6.53 percent with fees and points of 0.6. During the week ended April 30 that product

Older Homes Versus New Homes - The Debate Continues

2006-06-23T02:01:00.000-07:00

While a new house probably wins the functionality contest hands down over most older homes, the latter can put up a tough fight in other areas that make a house a home.One of these is aesthetics. A well-maintained older home can have every bit as much "curb appeal" as a new home. There is nothing that says American family as much as a stately 1930's colonial (remember Ozzie and Harriet?) or a

Late House Payments Aren't Widespread --- Yet

2006-06-23T01:20:00.000-07:00

Mortgage rates are rising, home prices are stalling in parts of the country, lots of people are taking out alternative home loans that barely existed five years ago and inflation seems to be picking up.Guess which of the following scenarios is happening to homeowners:A. They are falling behind in their mortgage payments. The delinquency rate -- in other words, the proportion of homeowners who are

Freddie Mac Predicts Mortgage Rate Boredom - It Could Be A Good Thing

2006-06-22T03:28:00.000-07:00

In spite of the Dog Days of Summer, mortgage activity held up fairly well for the week ended June16, down only a tiny bit from that reported for the previous week. Applications, however, continued to show double-digit differences from the same week in 2005.Freddie Mac's Weekly Primary Mortgage Market Survey reported an average rate for its 30-year fixed rate mortgage of 6.63 percent compared to

Mortgage Rates Increase, Application Volume Steady in Latest Survey

2006-06-22T02:50:00.000-07:00

WASHINGTON, D.C. (June 21, 2006) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 16. The Market Composite Index, a measure of mortgage loan application volume, was 567.6, a decrease of 0.8 percent on a seasonally adjusted basis from 571.9 one week earlier. On an unadjusted basis, the Index decreased 1.6 percent compared

A mortgage Broker At State of America

2006-06-21T03:23:00.000-07:00

23456Become A Mortgage Broker In CaliforniaArticle Summary: This article will help anyone looking for information pertaining to a mortgage license in the state of California or anyone looking to become a mortgage broker in California.In California, one of the most active states for Mortgage Brokers, there are two separate approaches to becoming a Mortgage Broker, each with its own rules and

Housing Bubble Watch

2006-06-20T03:08:00.000-07:00

Report Names 71 Metro Areas Significantly Over-ValuedA study released last week by Global Insight and National City Corporation titled House Prices in America concludes that in 71 metropolitan areas representing 39 percent of the total value of single family homes in the country those homes were extremely overvalued in the first quarter of 2006. This is an increase from the fourth quarter of 2005

Become A Mortgage Broker In Arizona

2006-06-19T22:52:00.000-07:00

Article Summary: This article will help anyone looking for information pertaining to a mortgage license in the state of Arizona or anyone looking to become a mortgage broker in Arizona.The Arizona State Banking Department regulates and supervises Mortgage Brokers License's in Arizona. The department’s goals focus on supporting and protecting the end consumer without impeding on the business

Become A Real Estate Agent In Arkansas

2006-06-19T02:54:00.000-07:00

Article Summary: This article will help anyone looking for information pertaining to a real estate license in the state of Arkansas or anyone looking to become a real estate agent or realtor in Arkansas. Contents of this article may include information on real estate education, schools, training courses, continuing education, tests and exams, laws, license requirements, renewal information, forms

Become A Real Estate Agent In Alaska

2006-06-19T02:50:00.000-07:00

Article Summary: This article will help anyone looking for information pertaining to a real estate license in the state of Alaska or anyone looking to become a real estate agent or realtor in Alaska. Contents of this article may include information on real estate education, schools, training courses, continuing education, tests and exams, laws, license requirements, renewal information, forms and

Become A Real Estate Agent In Alabama

2006-06-18T02:25:00.000-07:00

Article Summary: This article will help anyone looking for information pertaining to a real estate license in the state of Alabama or anyone looking to become a real estate agent or realtor in Alabama. Contents of this article may include information on real estate education, schools, training courses, continuing education, tests and exams, laws, license requirements, renewal information, forms

OFHEO Wants Fannie Mae Bonus Money Returned

2006-06-17T09:13:00.000-07:00

Remember Franklin Raines? In December 2004 he and Timothy Howard were very much in the news as they "retired" or "resigned" or were fired, depending on which version one was reading as CEO and CFO of Fannie Mae. Their sudden unemployment followed probes, lawsuits, and audits that revealed that Fannie Mae had cooked the books over a three year period of time in such a way as to "smooth" income and

Hedge Against A Housing Bubble With Housing Futures

2006-06-17T02:07:00.000-07:00

Hedge funds have been a big buzzword over the last decade as investors seek to "hedge their bets" in financial markets.Now there are ways to hedge your bet in the housing market. Well, maybe not you personally - this is a pretty expensive proposition for an individual homeowner - but ways that mortgage companies, home builders, and others heavily invested in the future of the housing market can

Mortgage Rates Softened

2006-06-16T02:39:00.000-07:00

Borrowers caught a bit of a break during the weeks ended June 7 and 8. Freddie Mac, in its Weekly Primary Mortgage Survey reported that average mortgage rates for all four categories of loans it tracks decreased up to six basis points from the previous week.Rates for the 30-year fixed rate mortgage declined from 6.67 percent to 6.62 percent although fees and points increased from 0.4 to 0.5. The

Table of Contents Planning It Out

2006-06-15T08:50:00.000-07:00

The success of any remodeling or home improvement project may depend on planning from start to finish. Read on Getting it doneWhether you're going with a pro or doing it yourself, here's expert advice to bring your plan to reality. Read on Favorite projectsOur interactive package takes you on a room-by-room tour of new ideas at various cost levels. Read on Paying the priceOnce you've attached a

Medical Needs Can Help Pay For Remodeling

2006-06-14T22:59:00.000-07:00

If you plan to grow old in your house, you'll probably need to have your home change as your body does. If you end up using a wheelchair, you'll need doorways wide enough to accommodate it. Respiratory problems might require air conditioning or special air filters.Remodel it right, and the tax deductions will come.The Internal Revenue Service offers write-offs for homeowners forced to make

How to pay for your home improvements

2006-06-13T22:54:00.000-07:00

While it's fun to imagine how you'll use a new space in your home (a new master bathroom, a renovated kitchen or a spacious home office) figuring out how to pay for it is another matter entirely. Understanding the details of your financing options can help you make a decision that's as good for your pocketbook as the renovation is for your house.Major credit cardsIf you have a smaller project (or

Remodeling? Make Sure You're Insured

2006-06-12T23:01:00.000-07:00

You might think choosing a contractor and creating a renovation plan are the two most important considerations when it comes to planning a home improvement project. But if you have not considered your insurance needs, and made sure your property is adequately covered during the renovation process, you may be putting your investment in serious risk.The time to contact your homeowners-insurance

After Disaster Strikes From Bankrate.com

2006-06-11T00:18:00.000-07:00

As floods and tornadoes exact a toll on lives and property across the United States, many people realize they aren't financially prepared for a natural disaster. But these catastrophes don't have to leave your life in financial ruins. You have plenty of worries -- it's unfortunate that money is one of them, but Bankrate.com has tips to help you get your finances organized after chaos strikes.

IRS Ruling Endangers Down-Payment Charities

2006-06-10T00:12:00.000-07:00

The tax man wants to close a loophole that has allowed hundreds of thousands of families to buy homes without saving for down payments.The Internal Revenue Service ruled this month that nonprofit down-payment-assistance programs don't qualify for tax exemptions if they transfer money from the seller to the buyer. In the last decade, these nonprofits have helped about 600,000 families buy homes

do it yourself or hire a pro

2006-06-09T07:40:00.000-07:00

Do it yourself or hire a pro? Even a long-time home improvement do-it-yourselfer like Rob Vets has asked the question: Should I tackle this project myself or to hire a pro?The four-time homeowner has done everything from landscaping to kitchen remodeling. But for his latest project -- replacing the driveway of his West Haven, Conn., residence -- Vets is calling in some assistance. "I have no way

Rates Even From Bankrate.com

2006-06-08T00:02:00.000-07:00

Results of Bankrate.com's juny 5 2006, weekly national survey of large lenders and the effect on monthly payments for a $165,000loan: 30-YEAR FIXED 15-YEAR FIXED 5-YEAR ARMThis week's rate: 6.67% 6.30% 6.35%Change from last week: N/C +0.01% +0.03%Monthly payment: $1,061.43 $1,419.25 $1,026.69Change from last week: N/C +$0.90 +$3.23Mortgage rates stall on Fed skittishness Mortgage rates

Mortgage News Daily

2006-06-07T23:12:00.000-07:00

New and Existing Home Sales Point To Contradictory Conclusions T'was the best of times, t'was the worst of times.It all depends on who you ask and when you ask them.Two more housing surveys were released this week with very contrary results and it seems ever more clear that the housing market is either going to take a long while to sort itself out and decide which way to head or it may just

Sell Now - The End Of The Housing Bubble

2006-06-06T00:44:00.000-07:00

Sell Now - The End Of The Housing Bubble One of the most vocal proponents of the Chicken Little philosophy of real estate is John R. Talbott, who in 2003 wrote the best selling book The Coming Crash in the Housing Market. His new book Sell Now! The End of the Housing Bubble was published this year and has occasioned a lot of press and a certain amount of hysteria.Talbott states in his

Chapter About Rates From Bankrate.com

2006-06-05T07:33:00.000-07:00

CHAPTER 1Should you buy or rent? Emotions, family and personal reasons all come into play in any home-buying decision.No one knows what the future holds for you, your family, your job or your finances. But we can help you understand what you're going to encounter when you embark on the sometimes-difficult journey toward the American Dream of owning a home."When you get that urge to buy a house,

Keep Home Listing and Existing Home Sales Point

2006-06-04T01:37:00.000-07:00

Keep home listing length just rightReal EstateWhat is the best length of time to commit to a listing agent; 30, 60, 90 or 180 days? If the agent has paid to advertise our home and our relationship does not work out, will we have to reimburse her for her fees?To answer : I always advocate listing arrangements that steadfastly look out for the best interests of the client. If the allotted days are

Lending Money To a Family

2006-06-03T09:41:00.000-07:00

Shakespeare wrote that loaning money to a friend is a good way to lose both friend and money. So what do you do when a relative hits you up for a quick cash infusion? Tread carefully.Often, the First Bank of Dad (or Mom) is the first place people turn when they have financial trouble, and many do have a need. A recent survey by Fidelity Investments found that 41 percent of U.S. households did not

Mortgage Fraud (part I)

2006-06-02T09:12:00.000-07:00

Mortgage Fraud and Predatory Lending Practices As previously stated in this space, the FBI announced on September 17 that mortgage fraud is rampant, and that it is putting its considerable clout behind solving the problem. Oh dear, another of those boring corporate scandals that only accountants and The Wall Street Journal understands or cares about. Well, not exactly! In the first place,

Dealing With Deadbeat Friends or Family Members

2006-06-01T09:20:00.000-07:00

Money trouble is not only the primary cause of divorce in America, it also breaks up friendships and families when a borrower fails to pay back a personal loan. Most of us have known a deadbeat friend or family member. We just can't figure out what to do about them.According to the money etiquette survey conducted by Ipsos market research and commissioned by PayPal, 63 percent of respondents have

Mortgage Rates Drift Higher While Applications Down

2006-05-31T08:48:00.000-07:00

Mortgage Rates Drift Higher While Applications DownMortgage rates edged up a bit during the week ended May 18 according to the Weekly Primary Mortgage Survey conducted by Freddie Mac.The 30-year fixed rate mortgage averaged 6.60 percent, two basis points higher than the previous week. Fees and points were unchanged at 0.5.The 15-year fixed rate increased three basis points to 6.20 percent with

Don't Worry be Fooled and Charitable Gifts Off For Nonprofits

2006-05-30T07:03:00.000-07:00

Don't worry be fooled by disaster scammersAmericans have always been altruistic, quick to respond to victims' needs and ready to lend a helping hand or much-needed cash.In response to Hurricane Katrina, the American Red Cross launched the largest mobilization of resources in its history for a single natural disaster. From mobilizing shelters, staff and volunteers, emergency response vehicles and

Get Hurricane Ready

2006-05-29T06:21:00.000-07:00

As the 2006 hurricane season begins, there's no time like the present to evaluate your situation. While you can't prevent natural disasters, you can keep them from turning into financial disasters. Bankrate.com has collected these proactive steps you should take to protect your personal finances and your home in the event of a natural disaster.Preparation is the key to protect the hurricane : Get

The Case For Rental Revival

2006-05-28T14:28:00.000-07:00

Have you been wondering whether to invest in a modest rental property?Good news: Rentals are not only showing signs of life for the first time in years, but demographic and economic indicators point to an improved rental market for the next decade. Robert Sheehan, consulting economist for the National Apartment Association, predicts that apartment-vacancy rates nationwide in buildings of five or

Should I Pay Points? and Formula For Investment Success

2006-05-27T23:50:00.000-07:00

Should I Pay Points?A point, which equals 1% of the total loan amount, is an upfront fee that reduces your monthly interest rate and total interest due over the life of a loan. This means that a one point loan will always have a lower interest rate than a no point loan. Paying points is in essence a trade off between paying money now versus paying money later.Deciding whether to pay points

Great Investment Property Deals in Short Supply

2006-05-26T02:06:00.000-07:00

Savvy investors know when to hold 'em. They also know when to walk away and know when to run.The best advice: You've got to count your money.That's what Richmond, Va.-based real estate agent Apryl Kay advises all of her investor clients.Being aware of just how much an investment in real property will cost is even more important now with prices at record highs -- thus making investing more of a

Several Factors Affect Your Mortgage Rate

2006-05-25T01:57:00.000-07:00

Several Factors Affect Your Mortgage RateIncrease DecreaseAmount of Loan Rates UpRates DownLength of Loan Rates UpRates DownAdjustable RateRates Down Rates UpDown PaymentRates Down Rates UpDiscount PointsRates Down Rates UpClosing CostsRates Down Rates UpCredit QualityRates Down Rates UpIncome Level Rates DownRates UpLock In Period Rates Up Rates DownThe amount of your loan can increase your

All About The Student Loans

2006-05-24T01:41:00.000-07:00

You filed your last term paper. Pulled your last all-nighter. And as you enter the proverbial real world with college degree in hand, you reflect with pride on your academic achievement and embrace with newfound confidence the personal and professional challenges that lie ahead.A little advice? Don't close the book on campus life just yet. Your biggest test is yet to come.As the estimated 2.8

News from mbaa.com about Commercial During 2005 and Report on Mortgage Fraud for MBA

2006-05-23T00:02:00.000-07:00

New MBA Study Shows $345 Billion in Commercial/Multifamily Originations During 2005The Mortgage Bankers Association's (MBA's) Commercial Asset Administration and Technology Conference, MBA released a ground breaking report detailing $345 billion in commercial/multifamily closed loans during 2005. This report, the 2005 Commercial Real Estate/Multifamily Finance: Annual Origination Volume Summation

HUD ANNOUNCES MORTGAGE ASSISTANCE FOR DISASTER VICTIMS

2006-05-22T09:48:00.000-07:00

WASHINGTON - Help is on the way for up to 20,000 families displaced by Hurricane Katrina and other recent disasters, Department of Housing and Urban Development Secretary Alphonso Jackson announced today. Under the Mortgage Assistance Initiative, HUD will make mortgage payments for up to one year for disaster victims with FHA-insured mortgages who want to start living in their homes again.To be

Surplus of homes cools prices

2006-05-21T09:38:00.000-07:00

Surplus of homes cools pricesSurely you've noticed an abundance of "for sale" signs around your neighborhood lately. Home sellers are plentiful, home buyers less so. It's becoming more the norm across the nation as existing-home prices continue to cool, according to the latest quarterly survey from the National Association of Realtors.Home prices are responding to the improvements in inventory."

Mortgage Rates Rise Again, Yet Refis Linger and 50 year Mortgage at California

2006-05-20T09:22:00.000-07:00

Mortgage rates rise again, yet refis lingerSometimes you can save money by refinancing your primary mortgage at a higher rate. There is evidence that borrowers are doing just that.Meanwhile, long-term mortgage rates didn't move much this week. The benchmark 30-year fixed-rate mortgage rose 3 basis points to 6.67 percent, according to the Bankrate.com national survey of large lenders. A basis

The Case For Rental Revival and Surplus Of Homes Cools Prices

2006-05-19T09:18:00.000-07:00

The case for rental revivalHave you been wondering whether to invest in a modest rental property?Good news: Rentals are not only showing signs of life for the first time in years, but demographic and economic indicators point to an improved rental market for the next decade.Robert Sheehan, consulting economist for the National Apartment Association, predicts that apartment-vacancy rates

Mortgage To Real Estate in The World

2006-05-18T03:32:00.000-07:00

Real Estate for Hidden flaw found after home saleWe bought a home eight months ago and had it inspected prior to purchase. Six months after moving in, we found a horizontal crack around the perimeter of the basement. We didn't buy a home warranty. Soon after that, the underground water main in front of the house broke, and who knows how long that had been leaking? The city is still fixing it.

Do condo-hotels make good investments?

2006-05-17T09:45:00.000-07:00

Hoteliers in resort locations are offering guests a stake in the business by selling individual units as condominiums. Not only is this an opportunity to own a second home in some of the country's favorite playgrounds, promoters say, but owners can look forward to some income when the property's management rents the room out to guests.Realtor Christian Charre, a senior vice president with Jones

12 Secrets to Getting the best travel deal

2006-05-16T09:48:00.000-07:00

It's never too early to plan a vacation. Travel industry insiders say the best way to stretch your travel dollars is to research your options and buy as early as possible."There are tons of good deals out there and some new tools to help you find them," says Jon Douglas, senior editor of SmarterLiving.com, an online travel publishing company.Whether you're planning this summer's family vacation

The Ways Of Weddings On A Budget

2006-05-15T09:44:00.000-07:00

With the many ways to spend money on a wedding, couples paying for their own ceremony can quickly get into more debt than they can handle. By sticking to a budget and planning a wedding that's more crafty than costly, you can tie the knot without untying your savings bundle.Tying the knot on a shoestring budget . . .Determine the size of your wedding walletKnow your wedding's total cost and how

Real Estate Search Engines and Vertical Search and Conventional Loan Limits Increased For Freddie and Fannie

2006-05-15T03:10:00.000-07:00

Real Estate Search Engines and Vertical SearchVertical search is the new cyberspace wrinkle and a lot of people who spend their lives dreaming of the future of the Internet are predicting that it is going to change the way we look for jobs, love, hotel reservations, and real estate on-line.Vertical search engines are a response to the tremendous success of Google and Yahoo and a reaction to some

12 Financial Tips For Women

2006-05-14T02:47:00.000-07:00

While neither gender has an exclusive lock on money management skills, the financial deck is stacked against women. They earn about three-quarters of what men make. In a divorce, they get less of the assets and more of the children.Financial tips for womenWomen have come a long way, but the odds are stacked against them when it comes to financial matters. Worse, many women view money and

Freddie Mac Joins Others In Foreclosure Avoidance Program

2006-05-13T02:31:00.000-07:00

Freddie Mac is important web site to learn about mortgage in the world. So we maybe learned from there website. Freddie Mac has joined with 14 other major financial organizations including some of the nation's largest mortgage originating and servicing companies to create a multi-faceted foreclosure avoidance program.The program, which will be largely administered by the NeighborWorks® Center for

High Gas Prices May Encourage Transit Oriented Communities

2006-05-13T02:27:00.000-07:00

The news we take from mortgages news daliy.It is the oldest subway in the United States and has more fame than its size and efficiency would otherwise command thanks to the Kingston Trio's song about Charley who got permanently stuck on Boston's MTA.Today it is called the MBTA or the "T" and, in addition to its small number of subway lines that radiate out from Boston to some of the close in

Fixed Rate OF MORTGAGE

2006-05-12T09:39:00.000-07:00

Adjustable-rate mortgagesAdjustable-rate mortgages, or ARMs, differ from fixed-rate mortgages in that the interest rate and monthly payment move up and down as market interest rates fluctuate.Most have an initial fixed-rate period during which the borrower's rate doesn't change, followed by a much longer period during which the rate changes at preset intervals.Adjustable rates start lowRates

Article of Mortgage from MBA (Mortgagebankers)

2006-05-11T08:29:00.000-07:00

Mortgage Application Volume Down In Latest SurveyThe Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 5. The Market Composite Index, a measure of mortgage loan application volume, was 562.1, a decrease of 5.8 percent on a seasonally adjusted basis from 596.8 one week earlier. On an unadjusted basis, the Index decreased 5.2 percent

Daily Mortgage Briefing from http://www.nationalmortgagenews.com/

2006-05-10T09:23:00.000-07:00

Last updated: May 10, 2006 You can get free mortgage headlines e-mailed to you daily. Click here for more information Fannie: New Errors on $28B in Assets Fannie Mae, which is working through a $10.8 billion earnings restatement scandal, has found yet more accounting errors and will have to repatriate $28.5 billion in assets to its balance sheet. Click here for more... Snow Downplays

Mortgage Basics from BANKRATE.COM

2006-05-10T09:09:00.000-07:00

Should you buy or rent? Emotions, family and personal reasons all come into play in any home-buying decision.No one knows what the future holds for you, your family, your job or your finances. But we can help you understand what you're going to encounter when you embark on the sometimes-difficult journey toward the American Dream of owning a home."When you get that urge to buy a house, the

Find The Mortgage Technology's Top 100 Technology Vendors

2006-05-09T01:44:00.000-07:00

A continuing consolidation trend coupled with an influx of strong new players makes this year's Top 100 Mortgage Technology Vendors list look very different from the previous lineup.Absent this year are some familiar names, most notably Framework, which went out of business in December of last year when it was unable to scale its product to deal with the needs of parent Bank of America. In a

Mortgage Rates Hit Three Year Highs

2006-05-08T12:48:00.000-07:00

This below, we can see rate hit three tear highs of Mortgage from Freddie Mac's and The Mortgage Bankers Association (MBA).After months of apparent indecisiveness, mortgages rates seem to have decided on a direction and are heading toward it.Unfortunately that direction is up!Both of the mortgage market surveys we track reported rates at their highest levels since mid-2002 and in one case since

Rates quiet from some upward pressure applied

2006-05-08T01:17:00.000-07:00

The main piece of news impacting on the market was the retail sales numbers for February which were released late last week. These came in much more strongly than anticipated suggesting that the economy hadn't slowed as much as many pundits had been predicting.Such a piece of data will help support the Reserve Bank's view that the economy is still strong and that any cuts to its official cash

Learn About House Buying

2006-05-08T01:01:00.000-07:00

We must know to buying a house with not complicated and confusing business.Buying a house can be a complicated and confusing business. Particularly because it's something most of us do only once or twice in our lifetimes. Our Learn About Guide is here to help. From finding your dream home to moving in, you'll find all the advice you need right here."Doing the sums,Choose the right mortgage,

MORTGAGE NEWS DAILY HEADLINES from http://www.mortgagenewsdaily.com/index.asp

2006-05-07T14:38:00.000-07:00

MORTGAGE NEWS DAILY HEADLINESHousing Bubble Bust or Soft Landing - March Homes Sales Figures UpFri, 28 Apr 2006 13:51:11 ESTExisting and new home sales are basically holding their own according to new reports from The Census Department and NAR.Mortgage Rates Mixed With Rate Variations RegionallyWed, 26 Apr 2006 14:39:03 ESTWeekly Mortgage Survey - Week Ending April 6, 2006What Do High Gas Prices

Commitment to Minority Homeownership and Expanding Responsible Lending

2006-05-07T08:57:00.000-07:00

Commitment to Minority HomeownershipWe believe you can trust me about commitment to increase science about mortgage especially minority homeownership. An African-American first-time home buyer and a single mother of three, Larryette Magett was thrilled to provide her children with their first home, including a "cozy" basement for her children to share with their friends. To purchase her Milwaukee

Mortgage Rates, Applications, Cash Out Refinancing All Up

2006-05-06T12:46:00.000-07:00

Mortgage Rates, Applications, Cash Out Refinancing All UpFixed mortgage rates increased for the fifth straight week according to Freddie Mac's Weekly Primary Mortgage Market Survey for the week ended April 27 and adjustable rate mortgages (ARMs) logged the sixth consecutive week of increases.The 30-year fixed rate mortgage increased from 6.53 percent during the week ended April 20 to 6.58 percent

Mortgage Broker Licensing – Protecting Consumers with Mortgage License Requirements

2006-05-05T12:56:00.000-07:00

A famous quote in the real estate industry states ‘Underneath All is The Land,’ and the constantly changing ownership of this land requires financing. Mortgage Brokers are the experts who assist people in finding and negotiating the financing that fits a particular situation.Professional Mortgage Brokers are individuals and companies who know the laws and regulations pertaining to real estate

Why We must to get a Renters Insurance?

2006-05-04T14:56:00.000-07:00

This very important to get renters insurance for our living, because we don't know when come anger to get our live. So we must antisipation our live with a get insurance.The news last month was full of awful pictures of the tornado damage that occurred throughout Missouri and Illinois. Along with the continuing debacle in Louisiana and Mississippi, the topic of insurance is once again on our

Mortgage Rates and Private Mortgage Insurance

2006-05-03T01:50:00.000-07:00

Mortgage Rates Mixed With Rate Variations Regionally were mixed for the weeks ending April 20 (Freddie Mac) and April 21 (The Mortgage Bankers Association.) Freddie reported all rates up although only slightly while MBA noted small decreases. The 30-year fixed rate mortgage, according to Freddie Mac's Weekly Primary Mortgage Market Survey, averaged 6.53 percent with fees and points of 0.6.

Learn More About Each Issue Of MORTGAGE and then Take Action

2006-05-02T12:49:00.000-07:00

Support H.R. 1295, the “Responsible Lending Act,” which would create a uniform national standard to combat predatory lendingIssue: Through non-prime lending the mortgage industry has afforded credit options to a growing number of consumers that would not traditionally have access to mortgage credit. However, there are substantial obstacles that hamper our industry’s ability to continue the

Candid Questions and Frank Answers problem of MORTGAGE

2006-05-01T13:25:00.000-07:00

For the first time home buyers, the process of shopping for a home mortgage can seem intimidating. But according to Steve Doran, mortgage department vice president at Fleet Mortgage, borrowers have nothing to fear.Q: At what point should a borrower approach a loan officer for mortgage advice?A: It's never too early. In fact, contact should be made with a loan officer when discussion first turns

Become a Mortgage Broker

2006-04-30T13:58:00.000-07:00

Mortgage Broker Licensing –Protecting Consumers with Mortgage License RequirementsA famous quote in the real estate industry states ‘Underneath All is The Land,’ and the constantly changing ownership of this land requires financing. Mortgage Brokers are the experts who assist people in finding and negotiating the financing that fits a particular situation.Professional Mortgage Brokers are

Mortgage Action Alliance

2006-04-30T12:27:00.000-07:00

Established in 2005, the Mortgage Action Alliance is the premier nationwide, grassroots lobbying organization of the real estate finance industry. The mission of the Mortgage Action Alliance is to further build a network of individuals dedicated to strengthening the industry's voice and lobbying power in Washington, DC and state capitals.The Mortgage

Adjustable Rate Mortgage

2006-04-29T14:31:00.000-07:00

As its name implies, an adjustable rate mortgage (ARM) is one in which the rate changes (adjusts) on a specified schedule after an initial “fixed” period.An ARM is considered riskier than a fixed rate mortgage because your payment may change significantly. In exchange for taking this risk, you are rewarded with an initial rate that is significantly below market rates for 30-Year Fixed Rate

Getting to know the Mortgage Process

2006-04-28T13:13:00.000-07:00

Once a simple task that meant comparing the fixed interest rate mortgages of a dozen or so lenders, the mortgage search today is more like finding your way through a maze. There are dozens of loan types, hundreds of loan programs and thousands of mortgage brokers, bankers, lenders, finance companies, credit unions, even stock brokerage firms originating loans.Because there is so much to learn,

Commentary and What are Points of my Mortgage Decision

2006-04-27T12:54:00.000-07:00

Daily Market CommentaryWenesday's bond market has opened fairly flat despite the release of several important economic reports. The stock markets are showing losses with the Dow down 5 points and the Nasdaq down 15 points. The bond market is currently down 4/32, but we should still see an improvement in this morning's mortgage rates as a result of strength late yesterday.The big report of the