Mortgages Archives

Mortgage Trends This Week: Oct. 26
By: Brian O'Connell

The U.S. mortgage market, just like a pro football coach whose team is winded after a long drive, took a time-out last week, with interest rates pretty much holding steady. Read more»

Up in ARMs: A Way Out for Seniors Facing Foreclosure?
By: Brian O'Connell

Some banks, most notably Bank of America (Stock Quote: BAC), have created a novel way to help seniors get out of option adjustable-rate mortgages, and even save their home from foreclosure. It involves a unique twisting of the reverse mortgage story — only this one might have a happier ending. Read more»

Why IRS Auditors Are Watching Your Mortgage
By: Brian O'Connell

With the Internal Revenue Service digging behind seat cushions looking for extra cash, it’s no surprise that they’re getting more aggressive about taxpayers who pay a lot of mortgage interest but don’t declare a lot of income. Read more»

Mortgage Trends This Week: Oct. 19
By: Brian O'Connell

Call it a reversal of fortune, as mortgage rates finally edged upward, after a month-long run of sliding performance. Read more»

What's an "Upfront" Mortgage Broker?
By: Jeff Brown

When the housing market tanked, mortgage brokers took a share of the blame for steering borrowers to dangerous sub-prime loans carrying adjustable rates. When the rates jumped and monthly payments soared, many of the brokers came off looking like the bad guy. Read more»

Mortgage Trends This Week: Oct. 12
By: Brian O'Connell

Lack of confidence in the economy, particularly in the dollar, has mortgage rates slipping back again this week, as lenders mull over more data that indicate talk of an economic recovery could be premature. Adding more anxiety to the mix are potential financial troubles at the Federal Housing Administration and more disturbing news on U.S. home sales. Read more»

Sen. McCaskill Wants More Reverse Mortgage Regs
By: The Associated Press

JEFFERSON CITY, Mo. (AP) — Sen. Claire McCaskill, D-Mo., is citing a report suggesting reverse mortgages can be risky for seniors while pushing for greater industry regulations. Reverse mortgages allow people age 62 and older to convert their home equity into cash. The loans typically come due when the borrower dies, sells the home or has not lived in it for a year. Read more»

Face Off: 15- & 30-Year Mortgages
By: Jeff Brown

No matter who you ask, today’s 15-year mortgage looks like a terrific deal. But borrowers should carefully weigh the issues before choosing one over the 30-year alternative. For many borrowers, it would pay to get the 30-year loan at a slightly higher interest rate and then try to save interest charges by paying it off early. Read more»

Mortgage Trends This Week: Oct. 5
By: Brian O'Connell

This just in: The American public isn’t buying what the Federal Reserve, the White House and the national media are trying to sell them on the economy. Read more»

Savings Secret: Pay Mortgage Points
By: Jeff Brown

Paying mortgage points is like dieting or eating your spinach: It's hard to do even if you know deep down that it’s good for you. But it’s worth considering, especially now. Many people who would have had perfectly good reasons to reject the idea a few years ago might get considerable benefit from paying points in today’s housing and mortgage market. Read more»

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