loans - Articles

Average U.S. 30-Year Mortgage Rate at 4.23%

Matt York/AP WASHINGTON -- Average U.S. rates on fixed mortgages were little changed this week, staying near their lowest levels in three months. Mortgage buyer Freddie Mac says the average rate on the 30-year loan edged up to 4.23 percent from 4.22 percent last week. The average on the 15-year fixed loan rose to 3.31... Continue Reading »

Fewer U.S. Homes Headed Into Foreclosure in August

Justin Sullivan/Getty Images By ALEX VEIGA LOS ANGELES -- Lenders initiated foreclosure action in August against the fewest U.S. homes for any month in nearly eight years, a trend that should help reduce the number of homes lost to foreclosure in the months ahead. Some 55,775 homes entered the foreclosure process last... Continue Reading »

How to Prepare for Rising Interest Rates

Getty Images By Kimberly Palmer Borrowers have been enjoying historically low interest rates since the Great Recession hit. For those with solid credit histories, taking out a mortgage, auto loan or personal loan has never been cheaper. But all that could change. Rates on 30-year fixed-rate mortgages have started creeping... Continue Reading »

Demand for Mortgages Falls as Rates Remain Unchanged

David Paul Morris/Bloomberg via Getty Images By Leah Schnurr Applications for U.S. home mortgages decreased last week with potential buyers shying away from the market as rates held steady just below their two-year highs. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application... Continue Reading »

Fiscal Cliff Negotiations Could Hurt Underwater Homeowners

By Credit.com The fiscal cliff draws closer by the day, and federal lawmakers are now trying desperately to reach an agreement that is at least somewhat palatable to both parties. Now, those negotiations might include a number of costly tax breaks designed to help consumers who owe more on their home loans than their... Continue Reading »

Mortgage-Debt Forgiveness Preventing Foreclosures

By Les Christie Reducing the amount that struggling homeowners owe on their mortgages is proving to be a more effective way to prevent foreclosures than other methods, such as reducing interest rates or postponing payments, a new report finds. In a report presented this week, Amherst Securities Group said that when... Continue Reading »

Mortgage Jargon in Simple Terms

Obtaining a mortgage loan means dealing with a lot of paperwork, from the documents you have to submit to documents you have to read and sign. More often than not, you're dealing with terms and conditions on various mortgage types that may be so difficult to understand that you just want to pull out your hair. But not... Continue Reading »

Conventional Mortgage Applications Have High Rate of Errors

Figure you're protected from mortgage fraud because you have a conventional conforming loan? The analysts at CoreLogic say don't be so sure. According to their data, 1 in 200 mortgage applications for conforming loans include mistakes that could ultimately lead to default. The most common kinds of misrepresentations were... Continue Reading »

Michael Jackson's Housing Debt Weighs on Estate, Heirs

Michael Jackson lives on through a mountain of real estate debt still on the books at the one-year anniversary of his passing. Due to this and other deficits, his personal estate's money woes remain steep and still affect the family members he left behind. With little liquidity floating around, eyes are on Jackson's real... Continue Reading »

#postcontentcontainer, #fivemin-widget-blogsmith-0{width:600px;height:400px;background:black url(http://pthumbnails.5min.com/3114706/155735263_3_600_400.jpg) no-repeat center center;display:block} Eddie Kim's parents made savvy residential real estate purchases in New Jersey 15 years before the housing bubble burst, so... Continue Reading »

Foreclosures Fall as Banks Streamline Process

Foreclosures dropped again in May -- the second month in a row that the number of foreclosure actions fell, according to research company RealtyTrac. The news will make for some positive headlines -- but we've seen fluctuations like this before. The rate of foreclosure is still absurdly high. The genuine good news is... Continue Reading »

Silicon Valley Market Heats Up: House-Hunting Tips for Everywhere

The housing market in California's Silicon Valley is beginning to rebound. And while it certainly isn't as hot and heavy as it was in the dot-com boom with multiple offers as high as the sky, local real estate agents say competition is starting again among homebuyers, especially on the lower end of the... Continue Reading »

How to Buy a Home Like the Rich Do -- With Stocks and Bonds

If you ever needed evidence that the rich are different from you and me, here's something to know: When they pay cash for luxury homes they don't even need to have the cash to do it. Let me explain: Known in the financial world as securities based lending, margin lending -- or any other number of ways brokers and lenders... Continue Reading »

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