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Proposed 20 Percent Down Rule Draws Opposition

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A proposed rule intended to prevent the kind of reckless lending and borrowing that heaped so many toxic mortgages into the marketplace in recent years has alarmed some groups, who argue the unintended consequences could worsen the nation’s housing troubles. The plan would require homeowners to make down payments of at least 20 percent of […]

Fewer Americans Struggling to Pay Their Mortgage

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Fewer Americans are having trouble paying their mortgages now compared to a year ago, according to a new Harris Interactive poll. About 22% of those surveyed last month said they had difficulty making their mortgage payments, down from 29% a year earlier. Additionally, 21% of respondents believed they were “under water” on their mortgage, meaning […]

Avoiding Refinancing Costs After Divorce

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Divorced homeowners stuggling with the task of removing a former spouse’s name from the mortgage after buying out his or her equity stake in the marital house may think refinancing is the only choice. There is another, little-known option that could possibly help you avoid refinancing and its costs, which generally run 3 to 6 […]

Your Credit May Not Be As Strong As You Think

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You pay your apartment rent on time every month. You never miss a utility bill. Your credit score, then, must be strong, right? Maybe not. The only way to know for sure is to check your annual free credit report. Your three-digit credit score is one important number. Lenders of all types, whether they’re passing […]

Household Worth Up: A Positive for the Mortgage Market

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Americans are beginning to gain ground against the worst recession in recent history as more and more economic indicators point to recovery. A new study from the Federal Reserve says household net worth in the U.S. soared $2.1 trillion during the last three months of 2010. Gregory Daco, U.S. senior economist for the research firm […]

Mortgages Could Be Getting More Expensive

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Remember the days when buyers could qualify for a mortgage loan by putting down 3 percent? How about the days when mortgage lenders passed out no-downpayment loans? Mortgage loan financing has changed dramatically since then. Today, the majority of traditional mortgage lenders are requiring that future homeowners come up with a down payment of 20 […]

Housing Affordability Best in Years

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Economists at Moody’s Analytics say homes in many parts of the country are at their most affordable levels since before the housing boom took off in 2003, the Wall Street Journal reports. According to the Journal, housing affordability – comparing home prices to household incomes – has returned to its average levels from 1989 to […]