Mortgages Archives

If you’re planning on getting a reverse mortgage, you’ll likely need a reverse mortgage counselor. In most cases, such a counselor is required.Here are answers to some common questions about reverse mortgage counseling. Read more»
If you waited a week to refinance your mortgage, it’s a week too late, at least for now.That after 30-year fixed mortgage rates shot up from 5.097% last week to 5.53% early this week, according to the BankingMyWay.com weekly mortgage rate tracker. Read more»
NEW YORK (AP) — The letter may look like a government form. The logo may seem official. The Web site address may sound like an agency that can help.But there's a good chance it may all be a scam. 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»
Real estate investors may note the date of May 21, 2009 as being the turning point when mortgage rates started going higher, after months of relatively low mortgage interest rates. Read more»
S&P: Home Prices Fall at Record Rate
By: The Associated Press
NEW YORK (AP) — Home prices fell at the fastest annual rate on record in the first quarter, but the pace of month-to-month declines continues to slow, a closely watched housing index showed Tuesday.The Standard & Poor's/Case-Shiller National Home Price index reported home prices tumbled by 19.1 percent in the first quarter, the most in its 21-year history. Read more»
If you’re a homeowner 62 years of age or older and you need to supplement your income, you may be able to tap into the value of your home using a reverse mortgage to get money now. Read more»
Residential mortgage lending is on the road to recovery, according to a review of new first-quarter reports for almost all of the nation's banks.   According to preliminary data from SNL Financial, banks originated $370 billion of mortgages for single- and multi-family homes during the first three months of the year, up 72% from the fourth quarter and 28% from a year earlier. Read more»
Every homeowner has the same recurring dream: the mortgage is paid off and you’re free of monthly payments.Then you wake up. A big chunk of your payment, you realize, is for escrow accounts to pay for property taxes and homeowner’s insurance. Those will still be there long after the mortgage is retired, along with maintenance and repair costs. Read more»
If you’re a senior homeowner in search of cash to supplement social security, pay off medical bills or credit card debt, or if you are considering home improvements or you want to buy a car, you may not have to look any farther than your front door.Qualified borrowers can tap into the value of their homes using a reverse mortgage to get that money now. Read more»
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