By Jon Prior Even if the promising mortgage refinancing plan that President Obama announced Tuesday night passes Congress, critics say it will fall short of solving the deepest housing problems. The White House did not release great amounts of detail, but the plan would help homeowners current on their mortgage to ... Continue Reading »

There's a surprising new finding that says women get lousier mortgage rates than men, but not because of gender discrimination. It's because instead of shopping around for cheaper loans, they rely on the recommendations of friends. To recap: When it comes to mortgages, women don't shop enough. The report ... Continue Reading »

The refinancing market is hot right now. Last week, applications were up by more than 10 percent. But even if you can get approved by a lender--which is no easy task these days--that doesn't mean you should take whatever deal the bank offers you. "Today Show" real estate expert Barbara Corcoran has some strong ... Continue Reading »

Mortgage applications increased 10.3 percent this past week as more homeowners refinanced existing mortgages or took advantage of lower interest rates to buy homes. The Mortgage Bankers Association said its market composite index -- a measure of loan application volume -- increased 10.3 percent on a seasonally adjusted ... Continue Reading »

WASHINGTON -- The average rate on the 30-year fixed mortgage fell to 4 percent this week, nearly matching the all-time low hit just one month ago. Freddie Mac said Thursday that the rate on the 30-year loan dropped from 4.10 percent last week. Four weeks ago, it dropped to 3.94 percent -- the lowest rate ever, according ... Continue Reading »

WASHINGTON -- Today's record-low mortgage rates are out of reach for millions of U.S. homeowners who would benefit from them most. One in four homeowners with a mortgage -- 11 million people -- owe more than their home is worth. These "underwater" borrowers have virtually no shot at refinancing. Their plight is a drag ... Continue Reading »

Let's hold off blaring the triumphant trumpets just yet for President Obama's plan to allow holders of underwater loans to refinance at a lower rate through revisions in the Home Affordable Refinance Program. What this change does is amend the loan-to-value ratio in a refinance. By removing the cap on how upside-down you ... Continue Reading »

By Nick Timiraos The Obama administration is revamping a program that's designed to let more homeowners refinance their mortgages even if they don't have any equity. This isn't a new program, but instead attempts to turbo-charge an existing federal initiative called the Home Affordable Refinance Program. Here's a look ... Continue Reading »

"Why won't the bank just reduce the amount of my loan instead of taking my home and then selling it to someone else for way less than I would have been happy to pay?" It's a question that gets asked repeatedly these days, especially by people who are facing foreclosure or are upside down on their mortgages. ... Continue Reading »

Mortgage rates are at record lows and should stay that way as long as economic reports continue to be disappointing, according to Bankrate.com, which tracks mortgage rates weekly. However, if you've been thinking about refinancing, you should act quickly. If mortgage rates rebound, they could do so fast, according to ... Continue Reading »

Victims of the foreclosure mess and housing crisis are taking to the streets -- literally. Street demonstrations are being planned in 10 cities, and in the crowd at the first one you are going to see Dixie Mitchell, a 74-year-old cancer survivor who refinanced her paid-off home to help one of the foster kids in her care -- ... Continue Reading »

WASHINGTON -- Mortgage rates have reached their lowest levels in six decades, making this the best time in most Americans' lives to buy or refinance a home. For people who qualify, today's rates could save thousands of dollars a year. Yet most people can't take advantage. Half of would-be buyers say they'll never ... Continue Reading »

Kate Hanni is no stranger to public advocacy. After she was trapped in a plane on the tarmac for more than nine hours, she formed Flyers Rights, the largest nonprofit advocacy group for airline passengers' rights. The result was the passage of the Airline Passengers Bill of Rights and the three-hour tarmac-delay limit for ... Continue Reading »

Andy Buman, 29, got interested in real estate a few years ago while working in construction. Since then, he has purchased two bank-owned single-family homes near Omaha, Neb., as rentals, and last fall bought a primary residence for himself and his fiancée, Valerie (both pictured at left). He has managed to save ... Continue Reading »

The loan modification programs have been a joke. You have a house that has tanked in value and the best the banks can come up with is a plan where they sort of delay what you owe long enough for you to get back on your financial feet -- if that -- based on the flawed logic that the housing market is certain to improve in ... Continue Reading »