Wikipedia defines mortgage as: "While a mortgage in itself is not a debt, it is the lender's security for a debt." However it is considered good debt for consumers. When handled correctly, it can be and usually is your livelihood.
Underwater Mortgages Are Still Growing Threat To US Economy
Tue May 15, 2012, 2:00 am | Leave Comment
On Monday Oct 27, 2008, I posted a small article about underwater mortgage and that it was a growing threat to the U.S. economy. Well! Over three years have passed and it’s still a growing threat to the national economy not to mention it has devastated many folks’ financial lives. Many have wrapped up their … Continue Reading »
Benefits of a Veterans Mortgage That are Pretty Cool
Sat Apr 21, 2012, 2:00 am | Leave Comment
A veteran’s mortgage can be beneficial for a veteran or their spouse because the government allows them to finance homes without a down payment. Many of these loans are focused on smaller cities and there are advantages as well as disadvantages to getting a veterans mortgage. The major percentages of veterans choose the VA mortgage … Continue Reading »
Beware Fake Mortgages
Mon Feb 21, 2011, 8:25 am | Leave Comment
It started last year, and many times since then, when I received email from a company that claimed to modify my mortgage for a fee. They promised to negotiate lower interest rates and/or principal on loans so my household could afford our monthly payments and stay in our homes. Luckily, we did not have a … Continue Reading »
Mortgage Foreclosure In Retrospect
Thu Dec 23, 2010, 5:45 pm | Leave Comment
To understand the process of mortgage foreclosure and back-office dysfunction of banks, travel with me if you will back in time to the credit bubble of the early 2000s. Some media have compared it with a national casino where people usually think they will win any kind of bet. The reason of the belief was … Continue Reading »
Interest Rates Seem To Be On The Rise
Wed Dec 15, 2010, 12:45 am | Leave Comment
Interest rates seem to be on the rise. The experts say one reason can be that investors have bombarded the bond market with their cash. They see a sign of the economy being on complete recovery path. Along with that, they seem to worry that the United States will not take steps to reduce the … Continue Reading »
False Foreclosure Is On The Rise
Mon Dec 13, 2010, 1:11 am | 3 Comments
By now, you may be aware of the stories of bank robo-signers powering through hundreds of foreclosure affidavits a day without looking deep into a single one and verifying it. Most of the foreclosures may have involved homeowners who had stopped paying their mortgage. They were genuine and legit defaulters. Whoever has gone through the … Continue Reading »
Mortgage Foreclosure Freeze Benefits Many Home Owners
Sat Nov 6, 2010, 11:26 am | 7 Comments
Troubled home owners are benefiting from a foreclosure freeze that many lenders have put in place this fall. They discovered widespread irregularities in legal paperwork as a result of the public outcry. However, some experts suggest it may very well be 2014 before the foreclosed inventory is all cleared out. Home prices will probably start … Continue Reading »
Reverse Mortgage vs Line Of Credit
Wed Aug 18, 2010, 7:38 am | Leave Comment
For so many years, we have been watching advertisements, featuring mostly Hollywood celebrities, spreading the word of reverse mortgage. It’s not for every retiree though. Who can take advantage of it? Those who are equity-rich but cash-poor can benefit from it. They can continue to live in their homes and generate extra tax-free cash flow. … Continue Reading »
