Mortgages Archives

WASHINGTON (AP) — From simple home loans to Wall Street's most exotic schemes, the government would impose and enforce sweeping new "rules of the road" for the nation's battered financial system under an overhaul proposed Wednesday by President Barack Obama.Aimed at preventing a repeat of the worst economic crisis in seven decades, the changes would begin to reverse a determined campaign pressed in the 1980s by President Ronald Reagan to cut back on federal regulations. Read more»

With ample talk of loan modifications, underwater mortgages and rampant home foreclosures -- and with over six-million jobs lost during the past 17 months, according to the U.S. Read more»

The good news: You’ve found your dream home.The bad news: You don’t have enough cash for the 20 percent down payment often required in today’s tougher mortgage market. Read more»

Companies promising help with mortgage modification and foreclosure relief are proliferating throughout the country as the housing crisis continues. But many of these firms are really fraudulent operations aimed at scamming people who are already in distress.Here's some tips on how to spot a potential scam, from the National Endowment for Financial Education:1. Be suspicious of unsolicited mail. Read more»

What a difference a few weeks makes.In early May, mortgage shoppers could still shop around for loan deals with interest rates shy of 5%. Read more»

If you’re planning to apply for a reverse mortgage, your home’s value is probably the most important variable used to determine how much money you can get out of your home. Read more»

Lenders are rejecting about 50% of the mortgage loan apps they receive - and taking several weeks longer to process each approved application. What's the hold-up? Read more»

After the recent jump in mortgage rates, are adjustable-rate loans worth a look? For months most experts have urged borrowers to avoid ARMs and jump on the rare opportunity to lock in fixed-rate mortgages charging 5% or less. Read more»

Mortgage rates have jumped, with the 30-year fixed-rate loan now averaging about 5.5%, compared to 5.1% a week ago, according to a BankingMyWay.com survey. Whether you are buying a home, selling one or thinking of refinancing, the new rates should be factored into your strategy. No matter which group you are in, the key question is whether rates will go up more, stay flat, or fall. Read more»