Posts Categorized: Home & Mortgage Refinance Information

Borrowers Sacrifice Home Equity Loan Payments for Credit Card Bills

Posted by & filed under Home & Mortgage Refinance Information.

The housing market after half a decade of boom came down with a thump last year. The increasing delinquencies on mortgage loans, especially subprime mortgage loans have been at epidemic proportions. Unfortunately, the home equity line of credit loans has not escaped this legacy of defaulting home loan mortgages. The latest news shows that late… Read more »

Credit-Renting: A Practice Rattling the Mortgage Industry

Posted by & filed under Home & Mortgage Refinance Information.

The new and growing practice of paying internet-based companies to repair a poor credit rating is being viewed with suspicion and concern by the feds and the mortgage industry. Federal regulators are keeping a close eye on this new trend, whereby online companies like Instantcreditbuilders.com (ICB) offer customers the opportunity to bump up their credit… Read more »

Proposed Bill Provides Relief for Delinquent Mortgagors

Posted by & filed under Home & Mortgage Refinance Information.

A proposed bipartisan bill aimed at amending the tax code so that debt forgiveness relating to principal home mortgages is no longer treated as income will soon be working its way through the U.S. Congress. Currently, homeowners who are substantially delinquent on their mortgages face harsh IRS consequences: If their lender accepts to modify their… Read more »

Are Subprime Shockwave Fears Justified?

Posted by & filed under Home & Mortgage Refinance Information.

The specter of the subprime mortgagesector upon the economy continues to dominate the news.  Many investors are worried about the effects on the economy of the downward spiral of these types of loans. Still the uncertainty has not produced a recession, but according to some analysts one may be on the horizon this summer.  Historically… Read more »

WaMu Mortgage Plus: An All-In-One Package

Posted by & filed under Home & Mortgage Refinance Information.

Washington Mutual recently unveiled WaMu Mortgage Plus, an “all-in-one” loan package combining a home equity line of credit and new mortgage that offers consumers the opportunity to alternate between adjustable and fixed rates twice annually and to reset interest rates without refinancing. Customers can utilize a WaMu Mortgage Plus as their principal mortgage and eliminate… Read more »

Home Equity Loan Points and Fees

Posted by & filed under Home & Mortgage Refinance Information.

A home equity loan is an excellent resource for obtaining funds when you really need it. Because you are not always equipped to handle financial situations that come your way, especially when they are unexpected, a home equity loan can provide you with the financial support you require in times of need. Home equity loans… Read more »