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Mortgages


  • Home ownership

    Why 2016 May Be A Great Year for HomebuyersFinancial Literacy, Mortgages, Personal Finance

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    The Federal Housing Administration continues its mission to help consumers realize the dream of homeownership. In today’s mortgage lending environment, there are three buckets of loan options available for borrowers, including conventional, FHA and jumbo loans. Of the three, FHA mortgages are significantly more flexible, especially in the following areas: Higher debt ratio allowance 3.5% equity Lower credit scores may qualify Spotty credit histories may be acceptable The fact that the FHA raised its loan limits in 188 counties nationally speaks […]

  • Home ownership

    The Loophole That Could Help You Buy a Home Even If You Have a Lot of DebtFinancial Literacy, Mortgages

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    It’s not impossible to buy a home when you have existing debts. Homebuyers do it every day, in fact. But you have to know how your existing debts are affecting your standing with the lender and the ways you may be able to exclude some debts from your loan approval process. When you apply for a mortgage, the lender takes into consideration your credit score, the cash you plan to use on a home, your […]

  • Homeowners

    The 5-Minute Checklist for New HomebuyersFinancial Literacy, Mortgages

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    When you are trying to get approved for a mortgage you can afford, it’s important to make yourself as appealing a borrower as you can to lenders. Getting approved can be the difference between getting the home you want and watching competitors beat you out while you move into the lesser property down the street. Follow the below tips before you apply for a mortgage so you can give yourself the best odds of getting […]

  • Home ownership

    Are Adjustable-Rate Mortgages About to Become Way More Popular?Mortgages, Personal Finance

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    With the Federal Reserve hinting it may soon begin to boost short-term interest rates, will borrowers turn to ARMs to keep enjoying the rock-bottom mortgage rates they’ve grown accustomed to? “Not in a big way,” said Ken Maes, an executive with Skyline Home Loans NW. “ARMs still have a negative perception.” Maes and other mortgage professionals said they don’t expect to see a surge in ARM applications anytime soon. He noted that while initial rates […]

  • The Disturbing Inaction of Congress on the Mortgage CliffGovernment, Mortgages, Politics, Blog

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    With the presidential election over, the fiscal cliff is all anyone can talk about. The “cliff” is actually a drastic metaphor for a chronic political logjam caused by partisanship. There’s another cliff on the horizon that is about to hit much closer to home for a lot of Americans. It’s not the product of echo chamber hype. It’s a family killer. Worse, unless Congress drops the obstructionist approach, this second cliff is going to be […]

  • What’s in Your Wallet? Hopefully Your Share of the National Mortgage SettlementGovernment, Mortgages, Blog, Personal Finance

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    Hell has frozen over! After years of lawsuits and investigations by federal and state law enforcement agencies — not to mention some hard-ass negotiations by the U.S. Department of Justice and 49 state Attorneys General (shout-outs to AGs Eric Schneiderman of New York, Beau Biden of Delaware, and Kamala Harris of California) — mortgage servicers are finally being forced to repay some of the billions of dollars they stole from American consumers. Unfortunately, the timing […]

  • Say Something Already! Obama and Romney’s Housing CrisisGovernment, Mortgages, Politics, Blog, Personal Finance

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    President Obama, Governor Romney and their backers may be spending hundreds of millions of dollars to live in the most expensive and exclusive house in the nation, but they aren’t saying enough about the fact that housing in America is broken. Despite what the media and candidates might have you believe, real estate, home ownership and mortgages are the most important issues of the coming presidential election. No one, however, is really talking about how […]

  • Obama’s Mortgage Task Force: Working Hard or Hardly Working?Government, Mortgages, Blog, Personal Finance, Money

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    Maybe you’re reading about it less and less. It doesn’t seem to be the lead story on many national news broadcasts anymore. But it’s still there, festering away like an untreated wound. The foreclosure crisis and the morass of other problems surrounding persistently problematic real estate prices, unwise loans made to now-bereft homeowners, and predatory mortgage products and practices isn’t going away. But this week, at last, there was some news. Unfortunately, the news by […]

  • Eastwood Meets West Wing: No Permanent Foreclosure Crisis?Mortgages, Blog, Personal Finance, Money

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    I am a New Yorker. I am a Giants fan. They made my day last Sunday. Sorry, Gisele. Like over 100 million of you, I saw the Chrysler commercial and, for the record, Clint Eastwood made my day. Now, in the interest of full disclosure — my college flame was the granddaughter of a famous Chrysler design engineer — so I confess that I have a warm spot in my heart for those guys, but […]

  • Fannie, Freddie & Freud: Washington Needs a ShrinkGovernment, Mortgages, Politics, Blog

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    As a citizen, a voter, and a consumer, what do you think this country needs? Less partisanship in Congress? Less Congress? Easier credit? Lower taxes? Higher taxes? There are about 307 million Americans and given the state of the American economy, perhaps there are as many answers to that question. Here’s what I say: I think we need a good shrink. I’m talking real, Freudian-style analysis, because, dear readers, we don’t seem to be paying […]

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