Interest Rates Improve on Home Loans
Mortgage rates have fallen as the spring home-buying season begins, with Freddie Mac pegging the average 30-year fixed loan at 4.27 percent this week, the lowest it has been since early February.
Understanding When to Get a Reverse Mortgage
Some seniors don't qualify for a reverse mortgage, either because they are not old enough (you must be at least 62), or because their home equity, the difference between the value of their home and the balance of their existing standard mortgage, is too small.
Mortgage Rates Improve
Lenders were offering 30-year fixed-rate mortgages at an average of 4.34 percent this week compared with 4.41 percent a week ago, according to the widely watched survey from home finance giant Freddie Mac.
Fixed Mortgage Rates Edge up
Mortgage rates leveled off early this week, with the average for a 30-year fixed loan at 4.41 percent, a smidge above the 4.4 percent recorded a week earlier, Freddie Mac said.
Association Dues Still Owed After Foreclosure
I went into foreclosure several years ago on my condominium because I was not able to afford the mortgage and condo dues and stopped paying both. About a year ago, I went through a Chapter 7 bankruptcy and moved to a new home I am renting. I recently got a letter from my former association saying I owe money for unpaid dues. Do I?
Using USDA to Finance Rural Homes
Randall Gore, North Carolina state director for USDA Rural Development, announced that applications for housing loans are now being accepted for the low and very low income citizens in rural North Carolina.
Understanding Early Mortgage Payoff Options
A standard, fully amortizing mortgage pays off the balance over the term. With a 30-year term, this requires 360 monthly payments, while a 15-year term requires 180 payments.
Interest Rates on Mortgage Rise
Fixed mortgage rates rose early this week, with Freddie Mac's survey showing lenders offering 30-year loans to solid borrowers at an average of 4.4 percent, up from 4.32 percent in the previous week.
Diligence Needed When Buying in Short Sale
I'm buying a short sale. After I submitted the application, the seller's bank told me I could expect an answer in 30 days. But that date has come and gone with no answer yet. It's an all-cash offer for market value. Doesn't the bank have to follow its own deadline and at least give me an answer in the time frame it set?
Low Down Payment Alternatives for Home Purchases
If you have a young family, chances are that you won't have a 20 percent down payment to put on a house. Without that big pile of money, non-veterans will be going to the Federal Housing Administration for their mortgage, or paying private mortgage insurance on a conventional loan.