More Borrowers Opt for ‘Cash-In’ Refinancing
Instead of cashing out to buy vacations or new cars, borrowers are putting extra money into a refinancing, to lower their principal balance.
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After Foreclosure Problems, Homeowners’ Eyes Move to Title Insurance
Title insurance might feel like a tax during the home-buying process, but the questions now surrounding foreclosures have made its importance crystal-clear.
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A Little-Known Loan Program for Fixer-Uppers
The F.H.A.’s 203(k) rehabilitation program insures loans covering renovation costs as well as the purchase price of a primary residence.
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Deciding Whether to Pay Off a Mortgage - Mortgages
Borrowers can derive peace of mind and big savings in interest payments, but there are many financial issues to consider first.
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A Less Costly Reverse Mortgage - Mortgages
The new HECM Saver program reduces the upfront insurance premium due at closing.
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One More Worry About Reverse Mortgages
A HUD rule that could force the home of a surviving spouse into foreclosure raises another warning flag about tapping home equity in retirement.
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Second-Lien Loans May Prompt New Losses for Banks
Banks have so far written down only a small portion of their second-lien mortgage loans. As home values in some areas continue to sink, more losses may be in store.
View ArticleOpposition From Freddie and Fannie Stalls Debt Reduction
Loans are not eligible for debt reduction if they were bought and held or securitized by the two companies, which guarantee more than 70 percent of the country’s home loans.
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How a Financial Pro Lost His House
A financial planner recounts how he and his family fell victim to the housing boom and bust and how they survived the ordeal.
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Life Goes On, Some Find, After Leaving an Underwater Mortgage
For two men who abandoned their homes with the help of YouWalkAway.com, the dire warnings proved overblown.
View ArticleDespite Critics, Mortgage Interest Deduction Persists
While economists question the need for a deduction to encourage homeownership, the tax break enjoys broad support among Americans.
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Why Business Owners Routinely Bet the House, and Why It’s Getting Harder to Do
As home values have plunged, entrepreneurs have found it very difficult to get loans using their residences as collateral. Sometimes, they even lose their business.
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Mortgages - Reverse Loans at a Younger Age
A new report shows that reverse mortgages are being taken out by homeowners nearing retirement to help get out of debt.
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Not Exactly a Miracle, but U.S. Debt Levels Are Falling - Floyd Norris
Household financial obligations, relative to income, have declined to levels not seen in years, helping add to consumer optimism.
View ArticleTexas Lending Law Shielded Many Homeowners From Housing Bust
Texas required any homeowner seeking to refinance a mortgage or take out a home equity loan to have at least 20 percent equity after taking out the new loan.
View ArticleSeeking a Second Mortgage or Equity Line
If you are considering borrowing money against the equity in your house, it is important to compare two distinctly different types of credit — loans and equity lines of credit.
View ArticleOpening the Tap on Home Equity
Lenders are cutting back on homeowners’ credit lines or freezing them altogether.
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A Less Costly Reverse Mortgage - Mortgages
The new HECM Saver program reduces the upfront insurance premium due at closing.
View ArticleClik here to view.
One More Worry About Reverse Mortgages
A HUD rule that could force the home of a surviving spouse into foreclosure raises another warning flag about tapping home equity in retirement.
View ArticleClik here to view.
Second-Lien Loans May Prompt New Losses for Banks
Banks have so far written down only a small portion of their second-lien mortgage loans. As home values in some areas continue to sink, more losses may be in store.
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