Mortgage Points: Why Pay For Them?   If you are in the market for a home or considering refinancing your current mortgage, you probably have heard your mortgage professional talking about points. They may advise you to buy points or they may advise you not to, depending on your situation. The question is, do you […]

Mortgage Rates Lower on Jumbo Loans   Congress has lifted the conforming loan limits in thousands of counties across the country. The government is allowing mortgage giants Fannie Mae and Freddie Mac to buy more — and larger – loans. And the FHA has rolled out its jumbo loan.   So what does it all […]

Tips for Homeowners Nearing Foreclosure   Some homeowners who are three months to a year behind on their mortgages have chosen to leave their homes altogether. Anyone can walk away from a house — even a retired baseball great, Jose Canseco, who abandoned his Encino (Calif.) property earlier this year.   But attractive as "just […]

Jumbo Loans for Larger Home Loans   In some real estate markets, a house in the $400,000 range may be considered a starter home. So the million dollar question is, "Why is it that a home loan in the mid $400’s is considered a Jumbo Mortgage Loan?"   While most of us see the term […]

Reverse Mortgages: How Do They Work?   Reverse Mortgages are exploding in popularity and as more and more baby boomers reach age 62 and beyond they will become eligible to cash in on their home equity with a reverse mortgage.   A reverse mortgage is a home loan you don’t have to pay back for […]

Mortgages: Pre-Qualified vs Pre-Approved   When you are pre-qualified for a mortgage of some amount, this is simply a quick measure of what you probably can borrow. It is based on a few answers you give to things like how much income you have and the amounts of any debts you have. It does not, […]

Mortgage Foreclosure Looming?   One thing that seems pretty consistent throughout the mortgage industry is, people facing the possibility of losing their home often do little or nothing to prevent it from happening. Many homeowner’s don’t even seem to be aware that they have options, while other are so distraught by their hardship, it’s difficult […]

Mortgage Prepay Programs: Don’t Get Suckered In   The world is full of people trying to convince us to pay for things we shouldn’t. For example, programs that promise to help you pay off your mortgage ahead of schedule. Worth the money? Not according to money reporter Stacy Johnson. In this short (1:33) video, Stacy […]

Mortgages with Bad Credit History   As home loan guidelines get stiffer and stiffer, more and more people are finding bad credit mortgages as plan A, not plan B as it used to be. But just because you’re in the market for a bad credit mortgage loan doesn’t mean you shouldn’t still look for the […]

Home Loans Without the Big Down Payment   Many people give up on the dream of home ownership before they even get started because they just don’t believe they will ever be able to afford the down payment and closing costs.   A down payment can be as much as 20 percent or more of […]