Mortgages Archives

A Misleading APR on ARMs?
By: Jeff Brown

If you’ve boned up before shopping for a mortgage, you’ve probably been told to focus on annual percentage rate, or APR, rather than the basic rate. Read more»

Mortgage Rates This Week: July 20
By: Brian O'Connell

Like a piece of driftwood floating aimlessly on the open sea, mortgage rates continue to waft along, waiting for stronger economic currents to kick things into higher gear. Read more»

ARMS: Okay For Some, But Not Others
By: Jeff Brown

Mortgage shoppers have been getting pretty consistent advice for the past couple of years: Forget adjustable-rate mortgages and get a fixed-rate deal, probably for 30 years rather than 15.Are there no exceptions? Read more»

Tips to Speed up the Mortgage Loan Process
By: BankingMyWay.com Staff

The normal time it takes to process a mortgage loan is 30 days. As such, it has become the standard for purchase contracts to write in a closing date of 30 days out. A number of factors go into the amount of time it takes to process a loan, however. In some cases, the loan can be finished much sooner. In other cases, there can be difficulties that delay the loan processing. Read more»

Mortgage Rates This Week: July 13
By: Brian O'Connell

After a week where seven more U.S. banks were shuttered by federal regulators (six in Illinois alone), bank investors were looking for some good news from the mortgage rate sector. Read more»

A Look Into Mortgage Closing Costs
By: BankingMyWay.com Staff

Mortgage closing costs are the fees you pay above the purchase price when you settle a home loan. They are also called settlement costs and are considered the price of the loan. Closing costs are made up of numerous different charges. Many of them are legitimate, but some are junk fees you shouldn’t have to pay. Read more»

Reverse Mortgages: What a Move Means
By: Althea Chang

Trading equity in your home for extra cash with a reverse mortgage can be a good idea if you need more income in retirement and you plan on staying in your home.But what happens when you decide to move? Read more»

Mortgage Tips for First-Time Homebuyers
By: BankingMyWay.com Staff

With interest rates at all-time lows and home prices equally attractive, now is a great time for well-qualified first time homebuyers to get into the market. To sweeten the pot, new homebuyers can now enjoy a tax credit of up to $8,000 thanks to the American Recovery and Reinvestment Act. Read more»

FBI: Mortgage Fraud On The Up
By: The Associated Press

WASHINGTON (AP) — Falling housing prices are driving up reports of mortgage fraud, with the FBI saying Tuesday that reported losses are up 83 percent last year and climbing even higher in 2009. Read more»

Should You Work With a Mortgage Broker?
By: Brian O'Connell

President John F. Kennedy once said, “Life wasn’t fair”.Words of wisdom for mortgage brokers today. Mortgage brokers, fairly or unfairly, were assigned a good deal of blame for the relaxed standards in the mortgage industry that led to millions of financially unqualified borrowers to get home loans back in the middle of the decade. Read more»

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