Do you see trouble ahead for making your mortgage payments? Here are some things to do now to make it through… If you have questions or comments about this video… please use the comment link below to contact us. We’d love to hear from you.
Mortgages: Closing Costs Are Rising
Mortgage closing costs are on the rise across the nation and are up 8.8% over the last twelve months. Origination and title fees on a $200,000 home loan average $4,070 nationally according to Bankrate Inc.’s 2011 Closing Costs Survey. Banks are requiring extra employment verification and the like to keep loans in shape for Fannie […]
Mortgages: Should You Keep Paying On Yours?
Should you keep paying your mortgage on a home that’s dwindling in value? No way, say an increasing number of underwater homeowners who are voluntarily choosing to “walk away” from their home loans, a practice known as “strategic default.” Jon Maddux, CEO of YouWalkAway.com, reports 10% more clients this year to his company, which advises […]
Mortgages: Strategies for Getting Approved
Before a buyer even begins to look at homes, it is critical to know if they qualify for a mortgage, and how much of a loan they qualify for. There are several proactive steps that can be taken in order to prepare for getting approved for a mortgage. If followed, these tips will successfully guide […]
Mortgage Denied? Here Are Some Possible Reasons
Getting a mortgage just keeps getting tougher, and many homebuyers are getting rejected for loans they could easily afford. The issue: Tighter standards from Fannie Mae and Freddie Mac, the government entities that back mortgages made by banks. A quarter of all mortgage loan applicants get denied for loans, according to the Federal Reserve. Many […]
Closing on Your Mortgage
If you’re in the process of buying a home for the first time, you’re probably wondering about what you can do to help make the mortgage closing process smoother. To do this, it’s important to understand your role as well as your mortgage lender’s role is in the home-buying process. Your Mortgage Company’s Role Your […]
The Mortgage Deduction: Sacred or Superfluous?
As our country faces possibly the biggest budget crisis ever, the Obama Administration has created a deficit commission charged with discovering the best ways to bring down the national debt. It has come up with a plan to cut our $3 trillion dollars in debt over the next decade. One of the proposals this commission […]
Second Mortgage Defaults Post Sudden Increase
According to data released by S&P Indices and Experian, the default rate on second lien mortgages has increased for the first time in at least five months. The agencies’ report shows second mortgage defaults rose from 1.42 percent in March to 1.51 percent in April. First mortgages, on the other hand, saw a decrease in […]
FICO Profiles the Strategic Defaulter
Strategic default refers to a relatively new phenomenon where borrowers who have the capacity to make their mortgage payments but choose instead to default, often because the property value is less than what they owe on the mortgage loan. Last year, the practice had become such a concern within the industry that Fannie Mae announced […]
Mortgage Costs Are Going Up
With the housing market still struggling to recover, the last thing it needs is more expensive mortgages. And yet, that’s exactly what it’s getting… Questions or comments about this video? Use the comment link below.
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