Tag Archives: Mortgages
Underwater Mortgages Still on Rise
New report estimates that by the year 2011 approximately 50% of of U.S. home owners with mortgages will owe more than what their home is worth.
This estimate of 25 million borrowers is higher than other calculations by other economic and real estate analysts, but this number is still way higher than what this country needs [...]
Interest Rates Drop
Interest on 30-year fixed mortgages, 15-year fixed loans, five-year adjustable-rate mortgages, and one-year ARMs all fell this week, according to Freddie Mac.
The average on 30-year financing slipped to 5.2 percent from 5.32 percent a week ago.
The 15-year mortgage declined to [...]
Jumbo Loans Make Their Entrance
It’s still difficult for buyers to get jumbo mortgages, but it appears to be easier than it was six months ago.
Bank of America, Wells Fargo, and JPMorgan Chase & Co. are cutting rates somewhat, buying jumbo loans made by other lenders and purchasing them from brokers. One factor is that jumbo loans are not subject [...]
3 Tips When Applying for a Home Mortgage
The other day I received a call from a gentleman looking to refinance out of his 2-year adjustable rate home mortgage (2/28 ARM) that is now variable. These home loans are typically reserved for subprime borrowers due to a poor credit rating. Although this is not an ideal loan, he wasn’t in too bad of [...]
Full Story
