Subprime loan bailout programs

It is clear that the increase in foreclosures caused by negative amortization loans and short term fixed teaser rates has prompted some state governments to get involved by offering a bailout program. In addition to regulatory pressure on lenders the state of Maryland has...

Selling and buying simultaneously

In the current market is is far more difficult to sell a home than it is to find a good buy. Here is a couple of things that may help you through this process.

Stocks vs. Real Estate

There has been recent articles written about which is a better long term investment, stocks or real estate. In the comparison it was determined that stocks outperform real estate in the period between 1978 and 2004. Some studies went as far back as 1890 to arrive at the same...

Are you being harassed by creditors?

Do you get calls at work from creditors? It can be embarrassing and a total harassment. Creditors will call every number they have on file multiple times every day unless you do something to stop them. There is a way to get them to stop calling.

Don’t procrastinate if you are facing foreclosure

Too many homeowners wait till they get a foreclosure notice to realize they need to do something about their situation. It is a proactive approach that will produce the best results.

Now is the time to upgrade to a larger home

There are many homeowners that want to upgrade to a home that meets their current needs and desires yet they are afraid of the market slide and fear they will not get full value for their home. This could play into your favor.

Options for avoiding foreclosure

Once you are facing foreclosure there are a few options that could help you stop the inevitable.

Borrowers placed in loans for higher commissions

"As the mortgage boom slowed in 2005 many brokers scrambled to fill their pipelines as the rate of new applications fell. Many of these brokers were putting borrowers that could qualify for prime rate products into a subprime category for the higher yield spread premium paid...

Lenders now closing warehouse lines for brokers

Many mortgage brokers have had the ability to secure lines of credit with major lenders to fund loans faster and increase their profit margin. They commit to a specific volume of business and are responsible for the qualifying criteria of that loan. The broker is...

Rates rise as bonds fall

Today the jobs report came in much stronger than expected fueling fears of inflation and sending the bonds lower. This pushed yields higher which of course has affected interest rates for mortgages negatively. They are sharply higher this morning and are expected to increase...

How can I get a loan with a credit score under 500?

Traditional lending sources will limit their programs to those with a score above 500. Many borrowers have scores that are near or below this level. What can you do if your score goes below 500?

Homeowners targeted by fraudulent advertisements

The California Association of Mortgage Brokers (CAMB) has issued a warning to homeowners to beware of advertisements claiming they can relieve you of your high payments and can qualify you for a 1% interest rate even with bad credit. This is simply not true.

Internet mortgage lead whores are out of hand

"It seems you can’t go to an internet site that doesn’t have some sort of banner prompting you to click to find out what rate you can get. They will use bait and switch tactics from advertising rates that are not available unless you pay ridiculous fees to hiding...

Criminal investigations for sub prime lenders imminent

Today New Century Mortgage announced it is filing for chapter 11 bankruptcy which is no surprise given recent trends. Since January of this year they were cut off by major lenders and have now announced criminal probes into it’s practices.