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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

A home equity loan is a type of loan that you as a home owner can take out by putting up the equity in your home as collateral. A home equity loan is also a secured debt as it is essentially debt against your own property, which you have ownership of. If you require a […]

If you have decided to take out a home equity loan, but are not sure which lender/company to go with, you’re not alone! After all, these days virtually every type of financial institution is offering consumers home equity loan options. The up side is that you have choices when it comes to your home equity […]

One of the criteria that mortgage lenders take into account before approving a mortgage is the loan-to-value ratio (LTV). The LTV is defined as the relationship, in percentage form, of the amount of money loaned by a bank to the value of the collateral pledged as security for the loan. For instance, a $66,000 loan […]

If you’re a homeowner, then you know there are several different reasons as to why you would want to refinance your mortgage. You may want to refinance in order to reduce your monthly mortgage payment or perhaps to consolidate your bills in an effort to pay off debt you have incurred over the years. Another […]