Mortgage Rates Slip as Economic News Weak
The cost of a home loan dropped early this week on less than robust news about the economy and housing, with Freddie Mac reporting that the average interest rate for a 30-year fixed mortgage was 4.28 percent, down from 4.37 percent a week earlier.
Marriage and Mortgages
When a married couple purchases a house with the help of a mortgage, they become subject to a wide range of legal rules and custom-based practices at every stage of the process.
Mortgage Rates Rise 4th Consecutive Week
Mortgage interest rates have changed little in recent days, with Freddie Mac saying fixed rates edged higher for a fourth straight week while start rates fell a notch on variable home loans.
Understanding Rebates on New Home Purchases
QUESTION: I purchased a home from builder XYZ for $320,000, and have a $10,666 Realtor rebate coming back to me. The builder had me sign a paper that says the Realtor rebate can only be used to pay settlement costs. In addition, if I use XYZ's lender, the lender will pay $5,000 toward my settlement costs.
Homeownership After Foreclosure
Just 10 days before Christmas 2009, Ganel Appolon found an envelope taped to his front door. He and his family were being evicted from their Tamarac, Fla., home. Appolon had fallen behind on his mortgage payments, and the lender repossessed the property under terms of his bankruptcy filing.
How Lenders Determine Whether to Approve Short Sales
QUESTION: We are no longer able to pay our mortgage due to a hardship. After doing a lot of research, including reading your columns, we decided to try a short sale. We listed the property, found a strong buyer and submitted all the required paperwork to our lender. Now the lender wants us to auction off the house. What gives?
Tools Help Manage Credit Scores
So you're looking at your credit score, wondering how it's ever going to get better. Or you're thinking you should do something about socking away more money for that South American vacation, the kids' college fund, your eventual retirement.
Home Shoppers Get Great Deal on Foreclosed Properties
MANATEE, Fla. -- The foreclosed home market is not an easy one for home shoppers who want to live in the houses they buy.
Short and Long Term Benefits of Reverse Mortgages
In a recent column, I described a reliable, easy-to-use calculator that could improve the ability of seniors to determine whether or not their lives would be benefited by a home equity conversion mortgage, or HECM. Having a tool is one thing, but knowing how to use it effectively is another.
Mortgage Rates Move Up
Fixed mortgage rates crept higher again early this week, with Freddie Mac reporting that lenders were offering 30-year home loans to solid borrowers at an average 4.33 percent, up from 4.28 percent last week.