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Mortgage Refinancing Articles
October 18, 2005
The chairman of the Federal Deposit Insurance Corporation warned of an upcoming boom in mortgage foreclosures as interest rates rise, which could spell credit losses for mortgage lenders. Record highs in housing prices have pushed many homebuyers into nontraditional mortgage loans such as option mortgages and interest-only loans. While mortgage interest rates continue to climb, [...]
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October 17, 2005
If you are currently going through a financial crisis and are falling behind on your monthly mortgage payments, there are steps you can take avoid mortgage foreclosure. First, contact your lender immediately. You may be able to work out a payment agreement where you resume making your regular payments along with a portion of the [...]
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October 16, 2005
There are many factors considered when a lender determines your mortgage interest rate. The amount you borrow to purchase your home can raise your mortgage interest rate if the amount of your mortgage exceeds the conforming loan limits established by the mortgage industry. This conforming loan limit is set at the beginning of every year. [...]
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October 15, 2005
Private Mortgage Insurance (PMI) can help you purchase a home you might not be able to afford without it. There are however, many misconceptions about Private Mortgage insurance and what it does. The biggest misconception is that it protects you, the homeowner. This is absolutely false; mortgage insurance does nothing for you but take your [...]
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October 15, 2005
Homeowners these days deal with their financial responsibilities differently than prior generations. People today happily sign up for super-sized mortgage loans, skimp on their down payment and points, and have an unholy appetite for creative financing tricks to lower monthly payments that include interest only loans, option Adjustable Rate Mortgages (ARM), and negative amortization loans. [...]
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My name is Robert Regehr and I’m a personal finance blogger with a chip on my shoulder for banks and mortgage brokers that take advantage of my friends and neighbors.
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