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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Benefits of a Veterans Mortgage That are Pretty Cool

Saturday, April 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 […]



Beware Fake Mortgages

Monday, February 21, 2011, 8:25 AM | 2 Comments

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 […]



Mortgage Foreclosure In Retrospect

Thursday, December 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 […]



Interest Rates Seem To Be On The Rise

Wednesday, December 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 […]



False Foreclosure Is On The Rise

Monday, December 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 […]



Mortgage Foreclosure Freeze Benefits Many Home Owners

Saturday, November 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 […]



Reverse Mortgage vs Line Of Credit

Wednesday, August 18, 2010, 7:38 AM | 1 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. […]



Time Is Right To Refinance But Not For Everyone

Friday, July 2, 2010, 4:55 AM | 7 Comments

For the week ending June 24, the 30-year fixed-rate mortgage (FRM) averaged a record low 4.69%, down from 4.75% the week before and 5.42% a year ago, according to Freddie Mac’s weekly survey. The reason for the falling rate might be that credit is still not readily available for a variety of reasons, the biggest […]



Mortgage Fraud – Risk To Economic Stability

Friday, June 18, 2010, 8:36 AM | Leave Comment

Whether it’s recession or booming economy, there is always some kind of fraud being committed at any given time and place. The rate of scams goes up especially during recession. The reason is that a lot of folks are going through tough times. Sometimes they get to be so desperate that some folks lose the […]



Low Rates And Price Stabilization Lead To Housing Recovery

Friday, May 7, 2010, 4:01 AM | 4 Comments

There are signs that low mortgage rates and stabilization in home prices could eventually lead the housing market back toward long-term growth averages. As we all know over the past few years, the housing market has been hit with lightening [along with fear of thunderstorm] from the sub-prime credit crisis and the resulting global financial […]