Mortgages
Refinancing vs. Loan Modification
In the housing boom of recent years, many borrowers received excellent interest rates that were set to adjust three or five years later. At the time, there was very little risk; home prices were going up and borrowers had excellent credit. Since the bust of the housing boom, home values have fallen and many people […]
Low Prices, 100% Financing and Rehab Loans in Today’s Market
Stop the time machine. I want to get off…and buy a new home. A quick browse through the ARMLS is more like a taking a trip back to 1995 than shopping for a home in the 21st century. Several three and four bedroom single family homes recently built in the Queen Creek area are currently […]
Mortgage Bailout; Why the Government is Using Taxpayer Funds to Bail Out Fannie Mae, Freddie Mac
Why is the real estate market “broken?” The symptoms are obvious. Every homeowner feels the pressures of plummeting home prices caving in around them. But what really caused this economic disaster, and what will it take to fix it?
The overriding cause of the bursting of the bubble was the strident insistence that there was a […]
Getting Home Loans After a Bankruptcy
The lending market has tightened restrictions, making it more difficult to get home loans with bad credit. Financing a new home loan after bankruptcy is not as simple as it used to be. The good news is, there are a few steps you can take to improve your credit score after filing bankruptcy. If you […]
Bankruptcy vs. Foreclosure
Some parts of the United States are seeing a rebound from the housing crisis. However, other areas are only just seeing the beginning which is leaving cash-swapped consumers with some serious decisions. One of the decisions that these consumers face is whether to allow their house to be foreclosed on or instead filing […]
Are Option ARMs an Option?
The Options Adjustable Rate Mortgage is an Adjustable Rate Mortgage (ARM) and like most ARMs it consists of taking an index, most commonly the MTA (12 month Treasury Average), CODI (Cost of Deposit Index), and COSI (Cost of Savings Index), then adding a margin to total the final interest rate.
Unlike other traditional mortgages, where the […]