Archive for: February 2009

DTI or debt to income ratio is one of the most important factors that determine loan decisions. The qualifying debt to income ratio seems to get lower and lower as the conditions in the housing market continue to be grim …

Sub prime loans have proved to be a contemptible piece of business. The stigma of real estate market collapse is essentially linked to these two words to a great extent. Every report on the misery caused by collapsing markets …

The new government has come up with two plans to help people who are on the brink of defaults or have already missed a couple of payments. The new loan modification plan is said to be …

First time home buyers have lots of planning and research to do before applying for a loan. The process of getting a first home mortgage is cumbersome and frustrating. The best way to make things easier is to be thorough …

Traditionally household income, monthly expenses flow in and out of a home equity line of credit. Thus here there is a merging of all accounts. There are no separate accounts for savings, credit, mortgage loans and checking. Thus all these …

Very often we hear of Fed cutting interest rates. People who have refinancing plans await Fed’s steps before proceeding. Well, this is not a bad practice but it should be borne in mind that actions taken by Fed need …

Bad credit, how you get in to it. And how to get out of it. Having bad credit has become to some a quasi mystical state that many people don’t even understand how it occurs. This is rather serious as …

The beginning of the year saw the new administration take office and introduce many programs to save the borrowers from the back breaking burden of debts. January also saw the introduction of new rules for seniors …

Real estate taxes and mortgage interests have tax advantages and these benefits can be enjoyed by any one with a mortgage. Taxes are complicated business and hence information regarding benefits, drawbacks and filing tax returns should be procured completely.  Tax …

IVA (Individual Voluntary Arrangement) hinders the easy securing of loans. It affects the credit score of a person adversely. Remortgage loans can be very helpful under the circumstances. These loans are offered by many lenders and have low rate …

Reverse mortgages, your key to financial freedom.  There are few things more frustrating than having money and not being able to spend it or use it. Imagine walking in the desert with a million dollars in your pocket but no …

In the wake of housing crisis in US, it is being demanded to give judges the right to change mortgage terms in bankruptcy cases so that they become affordable for the borrowers. This is believed to be the quickest and …

The best possible method to convert equity in the home into cash is via reverse mortgage. This term is becoming very popular among retirees and lenders. It is an option that can be considered. According to it people above …

HECM, is this the best reverse mortgage. Growing old is not easy. Growing old without money is no fun at all. You need to think about medical expenses, transportation, besides the everyday expenses you have always had. However when you …

Fannie Mae and Freddie Mac are popular mortgage firms. They became popular due to the strict rules enforced by the Federal Housing Administration (FHA) for qualifying for loans and mortgages. It became the last resort for many inspiring home owners. …

Fannie Mae and Freddie Mac are popular mortgage firms. They became popular due to the strict rules enforced by the Federal Housing Administration (FHA) for qualifying for loans and mortgages. It became the last resort for many inspiring home owners. …

The Federal Housing Administration is suddenly finding itself thrust forward into the housing arena as an insurer of mortgages and loans in these times of depression and uncertainty.  The credit crunch is still very much viable and banks continue to …

Home loans, your rights and how to use them.

Purchasing a home is the best or worst investment you are likely to make. It is certainly one of the most expensive purchases you will get into. Just think for a …

There are many different types of loan modification programs in the market to help struggling borrowers. To decide on the one that best suits individual needs is the current difficulty. The borrowers are getting more and …

When a home equity loan is not the best choice. Being in debt and not knowing how you’re going to pay your loans is a difficult situation to be in. However, no matter how dark and hopeless it may seem …