When it comes to purchasing a home in Austin, Boston, or anywhere else in the country, buyers have two primary loan sources to select from: a mortgage broker or a bank. Since both options have pros and cons to consider, it is important to learn more about each one in order to determine which option [...]

Read the full story

A mortgage is oftentimes the biggest debt that a person faces in life, with the largest part of the mortgage due to the interest that is on the mortgage. Every homeowner would gladly be rid of the mortgage interest, but since that is how lending institutions make their money, it’s a necessary evil. If given [...]

Read the full story

In an attempt to prevent a recurrence of the lax mortgage lending culture of years past, there is now a push among government agencies and officials for regulations that would require a down payment of at least 20% for lower risk classified loans. The Federal Reserve, along with the FDIC and the Office of the [...]

Read the full story

More American’s today are in dire straits when it comes to their mortgages, are either facing foreclosure, are in foreclosure or are having difficulty in making their mortgage loan payments in a timely manner. Because of the mortgage crisis and issues that arose around the mortgage crisis, many homeowners have had no place to turn. [...]

Read the full story

As foreclosure rates continue to climb, reports of fraud schemes aimed at homeowners facing foreclosure are increasing. Authorities are warning homeowners to be aware of some of the new scams being played out upon unwary victims during some of their most vulnerable times. Taking advantage of a desperate situation, scammers appear concerned and helpful however [...]

Read the full story

Selecting a lender may seem like a daunting task, but it is an undertaking that should not be taken lightly. There is a lot more to selecting the right lender than acquiring the lowest interest rate or the lowest mortgage payment. So how is one to choose the best lender? A good place to start [...]

Read the full story

What is an FHA Loan? Before delving into the Pros and Cons of going FHA, it is imperative to understand fully what the FHA is. The FHA was created in the early 1930’s during the Great Depression by the National Housing Act of 1934. During the depression, foreclosures and defaults spiked tremendously therefore it was [...]

Read the full story

In March 2009, the federal government introduced the Home Affordable Modification Program (HAMP), which assists homeowners by providing incentives to lenders which are willing to modify the terms of an existing primary or secondary mortgage and allow for lower monthly payments. Qualifying homeowners whose mortgage lenders agree to participate in the HAMP program can benefit [...]

Read the full story

The question of when to refinance or even if to refinance has plagued homeowners for years. Millions of people around the country have to take out mortgages on their homes because they are not able to come up with the entire purchase amount for the home that they are buying. A mortgage is a loan, [...]

Read the full story

Fannie Mae is the Federal National Mortgage Association, originally a government-owned corporation, and now a private corporation. Its purpose has always been to expand the United States’ secondary mortgage market by securitizing selected mortgages. In 1938, in response to the Great Depression encompassing the entire country, US President Franklin Delano Roosevelt and the US Congress [...]

Read the full story