Business As Usual : March 24-28, 2008

Hi, everyone. I am on sort-of-vacation this week with my family and am working reduced hours. Here's what to expect from me and my team this week: Yes, we're still doing mortgage planning for new...

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[Source: The Mortgage Reports Blog]

Bankrate.com Mortgage Trend Index (March 20, 2008)

I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. As a reminder: The survey is for conforming loans only. Your mortgage strategy...

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[Source: The Mortgage Reports Blog]

Parsing the Fed (March 18, 2008 Edition)

The Federal Open Market Committee lowered the Fed Funds Rate to 2.250 percent Tuesday while leaving the door open for future rate cuts. Stock markets cheered the Fed's move; the Dow Jones Industrial...

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[Source: The Mortgage Reports Blog]

The FOMC Press Release Holds The Keys For Where Mortgage Rates Will Go

When the Federal Reserve lowers the Fed Funds Rate, mortgage rates tend to increase, and it's always for the same, few, related reasons: Rate cuts create long-term inflation pressures Rate cuts makes...

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[Source: The Mortgage Reports Blog]

How Fed Funds Rate Cuts Lead To Inflation And Higher Mortgage Rates

The Federal Reserve is expected to lower the Fed Funds Rate Tuesday and that should cause mortgage rates to move higher. This is a counter-intuitive relationship for most people because when they...

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[Source: The Mortgage Reports Blog]

Mortgage Video: Why It Matters When Mortgage Guidelines Change (Redux)

In January, I made this 5-minute video to illustrate how mortgage guideline changes are impacting American homeowners regardless of their income, assets or credit score. If you haven't seen the video...

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[Source: The Mortgage Reports Blog]

Stop Asking Your Real Estate Agent If "Now Is A Good Time To Buy"

For Americans wanting to buy a new home, there are always two time frames to consider: Now Later It's why prospective home buyers love to ask the question: "Is now a good time to buy?" If now is not...

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[Source: The Mortgage Reports Blog]

Bankrate.com Mortgage Trend Index (March 13, 2008)

I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. As a reminder: The survey is for conforming loans only Your mortgage strategy should...

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[Source: The Mortgage Reports Blog]

Why $110 Crude Oil Doesn't Matter

As the price of crude oil hovers near $108 per barrel, economists wonder how the economy will respond. There's talk of a complete economic shutdown; talk of gouging by oil companies; and talk of the...

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[Source: The Mortgage Reports Blog]

Why Crude Oil At $110 Per Barrel Doesn't Matter

As the price of crude oil hovers near $108 per barrel, economists wonder how the economy will respond. There's talk of a complete economic shutdown; talk of gouging by oil companies; and talk of the...

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[Source: The Mortgage Reports Blog]

Soon-To-Be Homesellers: Your Most Effective Mortgage Strategy

Mortgage planning is about recognizing the right home loan product for the right homeowner at the right time. It's a challenge because not only do products change, but homeowners' lives change and...

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[Source: The Mortgage Reports Blog]

Bankrate.com Mortgage Trend Index (March 6, 2008)

I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. Note: the survey only covers conforming loans. If you are a jumbo, Alt-A, or...

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[Source: The Mortgage Reports Blog]

5 Things That Don't Control Mortgage Rates

This is a short list of things that don't control mortgage rates: 10-Year Treasury Note The image at right is evidence -- even as treasuries were improving yesterday, we can plainly see that mortgage...

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[Source: The Mortgage Reports Blog]

How To Distinguish "Prepaid Items" From "Closing Costs" When Reviewing A HUD-1 Settlement Statement

Smart people sometimes feel less-then-smart when reviewing a mortgage settlement statement for the first time. It's not that the math is tough -- it's the lack of understanding about what you're...

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[Source: The Mortgage Reports Blog]

Dangers Of Reverse Mortgages

A reverse mortgage offers retired persons a way to stay living in their homes and afford to live comfortably. The reverse mortgage pays you with equity you have built up in your home. You can spend your money now instead of leaving it to relatives after you pass. There are different ways to receive the money from a reverse mortgage. You can have a lump sum payout, monthly payments or a line of credit to use whenever you need it.

If you have a small loan payment on your home when you do a reverse mortgage, this is figured into the final distribution and paid off. The property taxes are figured as well as insurance. All you have to think about is keeping your property in good condition and doing needed repairs. The money is yours to spend any way you wish.

Are you wondering how the reverse mortgage affects your heirs? It does not affect them at all. If you pass, your heirs will receive any monies left over after the sale of the house and the repayment of interest due to the lender. This type of mortgage allows retired persons to keep their homes and not worry about having enough money after retirement.

There are requirements for obtaining a reverse mortgage. You have to continue to live in the home the entire time. If you move out of the home, the home must be sold. This type of mortgage is good until the last person on the loan leaves the home. If a husband and wife live together in the home and the husband dies, the wife can keep living in the home. When she leaves or dies, the home is then sold.

If the heirs want to keep the home, they will be responsible to pay the lender any monies that are owed or the house will be sold.

Article Source: http://EzineArticles.com/?expert=Cary_Bergeron

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[Source: Loan Mortgages]

Foreign National Mortgages For Investment Properties Returns

Over the last six months, the U.S. Dollar has been on a steady slide versus the Euro, raising the purchasing power of the Irish and other EU citizens against all-things American. This includes U.S....

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[Source: The Mortgage Reports Blog]