Bi-Weekly Mortgage Payments: Don’t Pay Fees   The "magic" of a biweekly (every two weeks) mortgage payment is that you end up making the equivalent of 13 full mortgage payments in a year rather than the usual 12, reducing the time needed to pay down the mortgage and cutting interest payments substantially.  But a biweekly […]

Can’t Make the Mortgage Payment? Just Walk Away?   More and more borrowers are watching their house values sink while the cost of their loans skyrockets.  What to do?  It appears that some are opting to skip out on the mortgage all together.   Homeowners are abandoning their homes and, more importantly, their mortgages, rather […]

Lenders Beginning to Make Deals   With so many houses in the United States facing foreclosure, mortgage lenders are starting to offer favorable deals for distressed borrowers they would not have agreed to just six months ago.  This is not altruism, but a case of lenders trying to avoid being stuck owning hundreds of thousands, […]

Should You Buy Points or Not?   Make sure you understand what points are.  Points (or discount points) are simply pre-paid interest.  One point amounts to 1% of the total mortgage.  If you have a $100,000 mortgage, one point costs $1,000.  That’s pretty much all there is to it.   So why would anyone want […]

Considering a New Home Loan?   Those considering purchasing a new home need to be prepared for the changes that are happening almost on a daily basis in the mortgage marketplace.  Fannie Mae & Freddie Mac are changing guidelines on a fast and furious pace to keep up with the real estate market declines in […]

Lender Going Under?   What should you do if your mortgage lender goes bankrupt?  Watch this video (1:12) to make sure you avoid a major problem… If you have a question or comment about the video, please post it below using the "Comment" link.  Your email will never be published here for your protection and […]

Stop the Foreclosure Process   It is estimated that more than 3 million homes will be foreclosed through 2009.  This is worse than what happened during the Great Depression.  Reasons for this are many, but put simply, homeowners have allowed themselves to get into mortgages they couldn’t really afford.  Predatory loan processes used by lenders […]

Help for the Nearly Homeless   Over the next year, two million Americans will be facing higher payments as their adjustable mortgages reset to higher rates. But Uncle Sam may be making changes to help them out.     If you have a comment about the video, please leave it… we’d love to hear from […]

Refinancing: Is Now The Right Time?   You should only refinance if you can get a lower interest rate, lower monthly payment and better terms in your mortgage.  If all these are favorable, then refinancing your home loan may be a sound financial decision right now.   Before making a decision to refinance, consider the […]