If you ask the average person about mortgages and mortgage terms, most people believe that there isn’t much room for borrower choice in the decision. The truth is that every mortgage applicant has numerous choices and decision in picking out the right mortgage  loan. All too often people agree to whatever loan their lender offers  … Read more

After all the recent discussion surrounding the foreclosure and mortgage debt crisis, words come into play that some homeowners may not truly understand. While most of us have heard the term “underwater mortgage”, many do not realize all that is associated with this term. Besides drowning under a mortgage debt they cannot afford, being underwater  … Read more

Last week an agreement was reached regarding the restitution actions for major lenders that participated in mortgage fraud and unlawful foreclosure practices. Perhaps the biggest multi-state settlement since the 1998 tobacco agreement, the $26 billion mortgage settlement has drawn much attention in terms of whether it will resolve the housing market troubles. Good For Some,  … Read more

In the midst of a devastated housing market having a home that is not underwater or in default is becoming a rare sight. For some of us managing our mortgage payments is still achievable, but is out of reach for many others. The key to avoiding foreclosure when finances become tight is preparation. Having a  … Read more

As part of the President’s plan to end the foreclosure crisis and help struggling homeowners, the current program benefits under the Home Affordable Modification Program are being extended. After the disappointing news of the program’s effectiveness efforts are being made to ensure more borrowers will qualify for loan modifications. The government also plans to encourage  … Read more

While much attention has been focused on ending the foreclosure crisis and providing homeowners will more loan modification options, another issue has been slowly taking over the focus of mortgage strategies. Predatory lending practices and mortgage relief scams have become a big problem over the last few years, causing further trouble in an already struggling  … Read more

Securing a good mortgage loan in today’s market is not as easy as it was a few short years ago. The foreclosure crisis and waves of loan modifications have sent lenders into a stubborn corner, where they often deny perfectly qualified people. While everyone in the mortgage industry is shy these days, it is no  … Read more

In this economy, it is more important than ever to stay ahead of your finances to avoid foreclosure. While most people don’t set out to end up missing a mortgage payment it can happen to anyone as a result of unforeseen circumstances. The good news is that you can take an active role in preventing  … Read more

Financial experts have all kinds of tips and tricks for helping consumers manage their money better. When it comes to paying off a mortgage, it is said that paying a smaller payment twice a month can help pay off the mortgage much faster than a traditional monthly schedule. Extra Payments A bi-weekly payment essentially means  … Read more

Many homeowners took out second mortgages on their homes a few years back in efforts to help improve their cash flow and fight off the chances of missing a mortgage payment. As more homeowners now sink under their mortgages in a dying market, a new program has been developed to help second lien mortgage holders.  … Read more