ARMs Making Comeback as Mortgage Rates Rise
As the Federal Reserve embarked last year on what economists have predicted will be an ongoing program of interest rate hikes, Connecticut banks have since increased mortgages with adjustable rates -- a major contributor to the Great Recession of 2009 when homeowners borrowed at lower, initial rates, then could not keep up with ballooning payments as interest escalated on a contractual schedule.
Many Caveats for Reverse Mortgages
Tom Selleck never explains the fine print.
Understanding How Mortgage Interest Rates Work
Question: What do home mortgage loans (including second mortgage loans), retail installment loans, automobile loans, home improvement loans, and mobile home loans, have in common -- aside from being loans to consumers?
Early Mortgage Payoff Benefits Depend on Variables
Question: I will soon make our final mortgage payment. My wife will retire in two years and I will work to age 67. We are both 60 today. Because I don't get a pension I really have been looking forward to this final payment.
Mortgage Borrowers Should Know Their Rates
Not knowing your mortgage rate can be an expensive mistake, especially in this rising interest rate market.
Overcoming Loan Rejections
You were all set to buy that new car or house. You may have even picked out the cherry-red convertible or the Cape Cod with the spacious yard -- until your bank stopped you in your tracks.
When And How to Payoff Mortgage Early
With the average 30-year fixed mortgage rates now climbing over 4.7 percent, it's no surprise that many homeowners are looking for ways to pay their mortgage off early -- and save themselves thousands of dollars in the process.
Understanding Jumbo Mortgages
Home prices have shot up in some areas of the United States to the point where buyers need jumbo loans to finance them.
Don't Use 401(k) To Payoff Mortgage
A reader asks: "My current 401(k) balance is about the same as my mortgage balance. I am 45. Would it make sense to pay off the mortgage with the 401(k)?"
Some People Should Never Be Homeowners
The homeownership rate has been increasing recently following more than 10 years of decline.
Options to Finance Home Renovations
Many people don't realize that there are renovation loans that can help pay for your housing upgrades.
Using Mortgage Refinance to Cut Short-Term Debt
While rising interest rates have sharply reduced the number of mortgage borrowers who can refinance into a lower rate, rising home prices create opportunities for some borrowers to refinance into mortgages that are less costly in other respects.