General-information Articles

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 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 January 15   By Peter Andrew
Back in May last year, the Woodrow Wilson Center published survey data showing that home ownership is still an integral part of the American dream. If you are like 90 percent of the respondents under 45 who indicated they are renting but want to purchase their own home in the future, now might be a perfect time to buy. But how do you determine if buying now makes sense for your financial situation? It is a good idea to do some very simple research -- laid out step by step below -- to help you re.... Read More...
Posted on February 13   By MLP Blog
The Department of Housing and Urban Development, or HUD, is warning consumers about two separate offers that are going around. One is a work-at-home offer to become a "Refund Tracer." Consumers report getting job offer postcards in the mail from companies boasting high starting pay and benefits to process government insurance FHA refund notices. On its Web site, HUD reminds consumers that the Department does not have a financial relationship with third party tracers nor does HUD authorize discl.... Read More...
Posted on February 13   By MLP Blog
In the past decade FHA Loans have become increasingly unpopular due to being heavily bureaucratic, and subprime loans moving in the opposite direction by becoming much easier to get. In the past year, though, many are turning back to the Federal Housing Administration-insured options for their home loans. The reason? All across the country low to moderate income home owners are struggling to make their mortgage payments, and the recent news surfacing about the ‘subprime fallout’ ha.... Read More...
Posted on February 13   By MLP Blog
Know your credit score and don't make fast moves You might be surprised to know it can feel like you're training for the Olympics to prepare for buying a house, but two lenders offer their advice on how to win the gold. Huntsville's Pat Sigle, loan officer with New South Federal Savings Bank, and Toni K. Roberts, mortgage advisor with ERA Mortgage, say a little preparation can promote a much smoother loan application process. The paperwork can seem endless, but it's not all that complicated or d.... Read More...
Posted on February 13   By MLP Blog
In light of the growing fallout in the subprime mortgage market, this could be the year the long-suffering Federal Housing Administration gets its much-needed makeover. Unfortunately, though, it's taking a brutal financial climate for some homeowners to trigger an increased push for modernization legislation. Despite that nasty climate, legislation now making its way through Congress that would revamp the FHA and its mortgage programs is still far from a sure thing. Legislation that would overha.... Read More...
Posted on February 13   By MLP Blog
If you're stuck under some high credit card bills and your credit rating is slipping, one of the best ways to immediately improve your credit is a home equity loan. When the loan closes, home owners have cash-on-hand to pay off bills. The result: their credit rating starts to improve immediately. Banking executive Dan Ambrose refers to those as the "band-aid loan", also known as the 2/28 in mortgage lingo. "Most sub-time loans are short term loans, not A paper market, which means a fixed rate fo.... Read More...
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