Oct
03
2009

(ARA) – While the number of auto and mortgage loans issued are down, and the effort it takes to get a good loan these days might seem daunting, there are signs that consumer lending is improving with positive economic reports. And even though dollars aren’t handed out as quickly or easily as they were just [...]
Feb
05
2008

As the drum beat of news continues about the credit crunch in the mortgage market, millions of homeowners are worried about their adjustable-rate mortgages that will adjust to higher interest rates, leaving many struggling to make their payment. As a result, there’s a lot of confusion about what to do, or not do, before an [...]
Nov
10
2007

(NC)-When the conversation at your next social event turns to the real estate market, don’t be surprised if a friendly game of mortgage rate comparison follows. Inevitably when people talk mortgages, they are usually talking about mortgage rates. But rate, albeit an important part of the mortgage equation, is only one factor to consider when [...]
Aug
05
2007

News headlines continue to detail the struggles homeowners face keeping up with escalating adjustable rate mortgage payments, the collapse of subprime lenders and mounting home foreclosures nationwide. Even without these market troubles, banks offer so many different and confusing mortgage products that it’s hard to know what’s in the homebuyer’s best interest. These days, choosing [...]
Jun
14
2007
Obtaining a home equity loan is a common method of refinancing debt and it has several advantages. But there are a few potential ‘gotchas’ that are worth considering before taking the plunge.
First, what is a ‘home equity loan’? The basic idea is simple: obtain a line of credit, secured by the equity in your home. [...]
Jun
11
2007
There are several interlocking reasons to consider refinancing your mortgage. When rates are low, you can lower your monthly payment and/or the total amount of interest you will pay over the life of the loan. You may also want to take out some equity to finance home improvement projects or pay off other debts.
But as [...]
May
01
2007
Why do lenders want borrowers to make large down payments on mortgage loans? After all, wouldn’t it make sense to assume that lenders would want people to borrow as much money as possible, since they would wind up paying interest on all the money? The truth of the matter is that lenders want borrowers who [...]
Apr
20
2007
Homeowners often turn to the equity in their home when they need a substantial amount of cash, whether it’s for home improvements or debt consolidation or maybe even a vacation. Interest paid in home equity loans and lines of credit can often be tax-deductible, just like interest paid on a mortgage loan, so this is [...]
Apr
15
2007
The value of your home minus the amount you owe on the mortgage is called equity, and for many homeowners this is where they turn when they find themselves in need of some cash. Taking a loan out against the equity in your home is referred to as a second mortgage, and this is common [...]
Apr
11
2007
A number of times throughout your adult life, you are going to come in contact with a lending institution or work closely with a banker. The purchase of a new car, a new home or even refinancing an existing mortgage are all situations in which you might deal with them. While many of those bankers [...]