Mortgage Updates

I don’t understand the whole mortgage deal and people who are dealing with one mortgage and yet decides to take out another one to buy another house. They are not the easiest things in the world to and yet I am watching friends live in a house for two years and then decide they want [...]

It’s easy to say I want to buy a house when many first-time buyers are completely unaware of the long process and major paperwork involved. Before you pop a blood vessel read this article and learn some helpful tips that will help get your started on the right track.
Source

Mortgage fraud has been rampant and everyone who has to deal with it from the homeowner up is paying. I’m glad to see that police have caught 8 who have been scamming the mortgage system for a few years now.
Officials say that they were actively defrauding lenders out of millions of dollars over the years [...]

You would assume that when you go to get a mortgage quote that your information is private but it’s actually not. Before you know it, all your private information is being sold again and again and it’s only a matter of time before your hanging up twenty times a day from junk phone calls.
What happens [...]

I just read a great article on what to do when your just starting out and trying to get a mortgage. You will find the article here.
Lots of us know that buying a car can be tricky at best with less than honest saleman and paperwork but getting a mortgage can be even tougher and [...]

I remember a mortgage scam I heard about early last year and have since forgotten about until recently when I heard that it’s bigger than ever. Let’s say you lose your job and fall behind on the mortgage payments. You get a phone call or a knock at the door and it’s a company willing [...]

It seems that week after week there are reports of mortgage rate increases and there are. Almost every week in the last four years there has been a rise in the rates and it doesn’t look as though it will end anytime soon.

Freddie Mac, the mortgage company, reported Thursday that for the week ending April [...]

Thinking about a reverse mortgage?
Before you sign that contract, make sure there aren’t any traps.
The Australian Consumers Association recently studied 19 lender contracts. It discovered default clauses that, if breached, could result in a call for the immediate repayment of the entire loan.
Property titles remain in the borrowers’ names and they are [...]

Delinquency rates are on the rise. They jumped “more than 7%, to 4.7% in the fourth quarter of 2005, from the year before,” according to the Mortgage Bankers Association.
Despite this, many lenders aren’t cutting back on exotic mortgages — in fact, they’re “charging ahead on such high-risk loans full tilt.” They claim that cutthroat competition [...]

Out of all 50 States it was reported today that Hawaii has the lowest over due mortgage payments. The residents tend to pay their bills on time and the percentage of homeowners who fell behind in payments fell from 2.07% to 1.9%.
This is due to mortgage lenders who allowed homeowners to make minimal payments and [...]