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Recent Mortgage Articles

Posted on November 15   By Peter Andrew
As the threats faced by active service members change and military medicine improves, we see a new phenomenon: an enormous increase in the number of veterans who return home with service-connected disabilities. The Bureau of Labor Statistics reports that, in 2012, there were 633,000 of these just from the wars in Afghanistan and Iraq. That's roughly one in four of all Americans who were deployed in those theaters. Of course, there's no way for any nation to repay the debt owed to those permanent.... Read More...
Posted on October 15   By Peter Andrew
Average home prices nationwide were 12.4 percent higher in August 2013 than they were at the same time in 2012, according to the CoreLogic Home Price Index. That month was the seventh in a row when year-over-year home price rises were in double percentage figures, and the 18th when they rose at all. Although those increases weren't consistent across the country, they still mean that millions of Americans have seen their underwater home loans break the surface and finally return to positive equit.... Read More...
Posted on September 16   By Peter Andrew
When Fannie Mae published its National Housing Survey Topic Analysis Report in November 2012, the document made sad reading. Its major findings can be summed up in a single sentence from the organization's chief economist Doug Duncan: "Homeowners who don't obtain multiple mortgage offers or carefully compare rates are essentially leaving money on the table." Mortgage brokers aren't always a good choice The survey found that the very people who most need the best deals -- those in lower income br.... Read More...
Posted on August 15   By Peter Andrew
It's not easy to find a subject upon which politicians are almost universally agreed, but the need to reform the mortgage market is one of them. Of course, lawmakers are hopelessly divided on the shape of the changes they'd like to see, and that division may yet see moves to improve the current system trapped in the legislative gridlock that has been a hallmark of recent congresses. Mortgages in recent history Nevertheless, some developments seem close to inevitable, and one that is likely to af.... Read More...
Posted on July 17   By Peter Andrew
American consumers are uniquely lucky when it comes to mortgages. A 2010 paper by Dr. Michael Lea of San Diego State University revealed that no other advanced nation offers so many long-term fixed-rate mortgages, and in many countries (including Australia, Ireland, Spain, and the UK) they don't exist at all. Why fixed-rate mortgages are great The advantages of long-term fixed-rate mortgages (FRMs) are obvious: You have absolute certainty that every monthly payment you make is going to be exactl.... Read More...
Posted on June 14   By Peter Andrew
People who work with home loans every day can forget just how confusing their jargon can be to outsiders. Here is a quick overview of the three main types of mortgage from which both first-time buyers and old hands may choose. In America, the money borrowed by home buyers is almost invariably provided by commercial lenders, but the federal government guarantees at least part of the debt for Federal Housing Administration (FHA) loans and Veterans Administration (VA) mortgages. FHA loans FHA loans.... Read More...
Posted on May 17   By Peter Andrew
For years, millions of Americans have been prevented from undertaking a mortgage refinance because their home loans were "under water," "upside down" and in "negative equity." Those three terms all mean the same thing: the value of the home on which a loan is secured is lower than the amount owed on that loan. Refinancing now possible for millions more However, as house prices rapidly rise, that situation is changing quickly. On May 6, Lender Processing Services published its March Mortgage Moni.... Read More...
Posted on April 15   By Peter Andrew
Tax planning is a complicated business, and it's not possible to describe in a short article all the different rules that apply in every situation. If you'd like more information on points raised below, please visit Publication 936 on the IRS's website. 1. Interest deductions on home loans aren't for everyone According to the Tax Policy Center, only about 30 percent of American taxpayers itemized their deductions in 2010, the rest preferring to claim their standard allowance. True, you might thi.... Read More...
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