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.

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Short Sale Is Definitely Better Deal If You Have The Money

Thursday, March 12, 2009, AM | 1 Comment

In this lousy market, there is a phenomenon known as underwater mortgages. That means the house is worth less than the mortgage loan still remaining to be paid on the property. If you sold the house in this kind of situation, the money you get from the sale will not be enough to pay off […]



Is REO a better deal if you have the money

Wednesday, March 11, 2009, AM | Leave Comment

Doing some research via my favorite search engine, I came across a phenomenon called Real Estate Owned property, or REO. Simply stated, these properties belong to mortgage lenders, mostly banks. They outright own the property. REO kicks in as follows: Foreclosure begins with a homeowner’s failure to make a mortgage payment and ends on the […]



Tips To Consider Before You Decide To Refinance

Saturday, March 7, 2009, AM | Leave Comment

Refinancing a mortgage means paying off an existing loan and replacing it with a new one. There can be many reasons why homeowners will want to refinance. Some of them might be: The opportunity to obtain a lower interest rate The chance to shorten the term of your mortgage To convert from an adjustable-rate mortgage […]



Tips When You Can’t Make Mortage Payments

Monday, February 16, 2009, AM | Leave Comment

In most people’s cases, housing is their biggest expense. If you are having trouble making mortgage payments, you have some potential options to think about for modifying your housing cost. As home prices continue to fall and more borrowers find themselves in need of a modification, correctly dotting the i’s and crossing the t’s has […]



Refinance Calculator

Tuesday, January 6, 2009, AM | 1 Comment

Are you looking to crunch some numbers? We’ll help. Calculate your monthly mortgage payment. Read more…



30-year Mortgage Rate Falls For The Ninth Week

Sunday, January 4, 2009, AM | 1 Comment

Lower rates and falling house prices are making home mortgages more affordable to potential home buyers. For instance, house prices fell 18 percent over the 12-month period ending in October, 2008. As a result, financial news have it that the number of refinance applications for conventional mortgages jumped over 500% between the weeks ending on […]



UnderWater Mortgages Are Growing Threat To US Economy

Monday, October 27, 2008, PM | Leave Comment

In Tuesday, Oct 21 2008 edition of Reuters.com, there is an article about Under water mortgages are growing threat to U.S. by Tom Brown. “Under water mortgages” are those when you owe more in mortgage than your home is worth. Let’s say, your home was estimated to be worth $150,000 and you owe $200,000. So, […]



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