mortgage payments - Articles

If Your Mortgage Payment Went Up, Here's Probably Why

Flickr By Arthur Murray Freaked out because your mortgage payment has increased? Before you write that next mortgage check, let's investigate what's going on with the payment. The increase could come from a number of factors and there may be something you can do about it besides paying more each month. Many lenders... Continue Reading »

Rate of Late Mortgage Payments Hits 5-Year Low

Shutterstock By Alex Veiga LOS ANGELES -- Fewer U.S. homeowners are falling behind on their mortgage payments, aided by rising home values, low interest rates and stable job gains. The trend brought down the national late-payment rate on home loans in the third quarter to a five-year low, credit reporting agency... Continue Reading »

Paying Extra on Your Mortgage Can Go a Long Way

By Colin Robertson Mortgages can be viewed very differently. Some see them as a positive financial instrument, a way to free up their money so it can be invested elsewhere, ideally for a better return. Then there are those who view mortgages as the root of all evil, as a debt overhang that must be terminated as quickly... Continue Reading »

Mortgage Payments on a Credit Card: Is it a Good Idea?

Sometimes consumers face significant financial emergencies that they cannot avoid, such as medical problems or car trouble that can take a huge chunk out of their monthly budget. The result of these financial difficulties can be that, at the end of the month, they simply might not have enough money on hand to pay their... Continue Reading »

Banks' Paperwork Foul-Up Cost Atlanta Woman Her Home

Sidnetta Smith (pictured at left) had to uproot herself and her children and move to North Carolina, leaving half of their belongings behind, when Bank of America foreclosed on their Atlanta home and evicted them. That's painful enough, but there's an added rub: Smith's home wasn't BofA's to take – because the bank... Continue Reading »

How Much Down Payment Do Homebuyers Need?

As the obstacles to owning a home become more pronounced in the wake of the housing bust, how much money should homebuyers set aside for a down payment? Unsurprisingly, cash is still king in today's market, especially as mortgage lenders raise the bar for credit worthiness. That said, down payment options range from zero... Continue Reading »

Watch: When to Pay Off the Mortgage Early

While paying down the mortgage is undoubtedly one of the largest financial burdens many Americans have to contend with, it's certainly not the only long-term investment homeowners need to consider. This is particularly true for homeowners nearing their 60s, for whom financial investments made today can have a lasting... Continue Reading »

Unemployed to Get Year's Break on Paying Some Mortgages

Loan servicers collecting payments on FHA-backed loans must allow qualified borrowers who lose their jobs to miss up to a year of mortgage payments before starting foreclosure proceedings against them, the Obama administration announced Thursday. The FHA's current three to four months of required unemployment forbearance... Continue Reading »

Shill on a Shingle: Billboards Finally Hit Houses

Want help paying your mortgage, and don't care what your neighbors think? Mobile advertising agency Adzookie wants to turn your house into a billboard advertising its services. In exchange, the company will pay your mortgage for as long as the custom paint job remains in place, for up to a year. Since the program was... Continue Reading »

Woman Misses Mortgage Payment, Nearly Loses House

An elderly woman is suing two banks and a law firm that tried to foreclose on her Deptford, N.J., home after she missed making her final mortgage payment of $432 when she was in the hospital, reported the Associated Press. The tragedy possibly could have been avoided had she taken some precautions, say experts who spoke to... Continue Reading »

Short Refinance: Is It an Option For You? SPONSORSHIP

Homeowners, who are slipping on their mortgage payments and unable to change their financial position, may feel like they are in a dead-end spiral and have no option but to walk away or resort to a short sale. But brokers say that it is possible for underwater homeowners with adjustable-rate mortgages to obtain something... Continue Reading »

Times Square Bomber Suspect Faces Foreclosure

The alleged Times Square car bomber, apprehended last month on suspicion of leaving a homemade bomb in his SUV, is on track to lose his Shelton, Conn., home to foreclosure. The suspect, Faisal Shahzad, 30, is in jail without bail for five felony charges. To avoid foreclosure, he is being ordered to repay $213,000 to... Continue Reading »

Hot News on HousingWatch This Week

Check out Diane Keaton's latest project (a house, not a movie), or pick up some pointers on savvy homeownership - like whether to pay extra towards your mortgage, and how to lower your home's assessment. It's all in our top posts on HousingWatch this week. 1. Donald Trump's Foreclosed Condo Hotel in Fort Lauderdale... Continue Reading »

Does it Make Sense to Pay Your Mortgage Down Early?

Every month, my mortgage company gives me the same offer: Would I like to pay a little extra to lower the debt on my home mortgage? Even small additional payments, made over time, could chop years off the time it takes to repay my home loan, according to the bank. It always seems like a virtuous, prudent thing to do - but... Continue Reading »

Foreclosure Rate Drops!

The number of homes seized by banks, sold at foreclosure auctions, or that slipped in default dropped by more than 7,000 (or 2 percent) in February, according to data firm RealtyTrac. That's great news for anyone worried about the value of their home or the strength of the economy. For months, the threat of a new wave of... Continue Reading »

A Dire Choice: Your Mortgage or Credit Card Bill?

You're strapped - down to your last $1000. Who do you pay first: your credit card or your mortgage? The answer might surprise you. New studies show that the fiscal downturn has gotten so bad that consumers are now choosing to pay off credit card debt before making their mortgage payment. Continue Reading »

Down 'n Out Homeowners Turn to Crime to Pay Mortgages

How far would YOU go to make your mortgage payments? A brief article caught my eye on Reuters this morning that got me wondering -- and Googling -- to see to what extent some folks have gone to keep from getting evicted from their homes. The article was about a 73 year old Florida man who was busted late last week in... Continue Reading »

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