Is the housing market finally taking a turn for the better?  Recent mortgage data seems to suggest so.  Less Americans are falling behind on their mortgages.  In fact, the most recent stats show the lowest levels of “no payments” in 2 years.  While many people might perhaps blame the good news on the recent government crack Read more (…)

Smart personal finance in its simplest form is just making the best use of the financial resources at hand.  That often means getting the best rates for the money you have saved and the best rates for the money you owe.  Lets take a look at home equity loans and how they can actually be Read more (…)

In what must have seemed like a late Christmas gift to shareholders of the beleaguered Bank of America, the corporation finally agreed to a comprehensive $2.8 billion settlement with both Freddie Mac and Fannie Mae over mortgages that were deemed sour loans.  Many analysts had predicted the bank might be forced by regulators to repurchase bad Read more (…)

Mortgage rates for US Home loans have now climbed to a seven month high of almost 5% and are putting the housing market recovery in jeopardy.   Just when everyone was getting comfortable with 4% fixed mortgages, rates have exploded due mainly to the actions of the federal reserve.   The quantitative easing initiated by the Fed policy makers Read more (…)

In the last few years Mortgage fraud has been surging and is up over 20% since the lowest reported rates of 2009.  A recent report by CoreLogic states that Lenders are experiencing increased levels of fraud particularly with highly popular loan programs such as government insured FHA loans in addition to short sales and REO sales.   Mortgage Read more (…)

Just when you thought Bank of America couldn’t possibly screw up its image anymore than they already have, they do it again. The timing on this latest screw-up could not be any worse and the story reminds me of the old scrooge in the movie A Wonderful Life. Bank of America is called the bank Read more (…)

If you are thinking of purchasing a home in 2011 with a FHA loan, then you need to take a careful look at some recent changes made to the program.  The main advantage of a FHA home loan of course is it’s insured by the Federal Housing Administration and allows home buyers that would most likely Read more (…)

For homeowners who have been thinking of getting a home equity loan and who are also trying to bottom fish for the lowest rates, now may be a good time to get that loan before rates go up.  Just two months ago rates hit a 50 year low and people assumed that the Feds actions would help rates Read more (…)

In the last 6 weeks, to the horror of many, mortgage rates have been steadily rising.  In the last week rates reached the 5% mark for a 30 year fixed loan.  Many people fear that if the trend continues it could derail the recovery in housing and in a worst case scenario push the economy into a deeper recession.  Read more (…)