30-year Fixed Rates Continue Month-Long Decline

zillow

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.26 percent, down from 5.40 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com . Meanwhile, rates for 15-year fixed mortgages fell to 4.65 percent from […]

How does an unsecured loan work?

unsecured loan approval

The interest rates on these loans are often higher than on secured loans and you generally will not be able to get a tax deduction for the interest paid. However, the costs to obtain an unsecured loan are usually lower. And the relative ease of getting this type of loan makes it popular for small […]

How to Save Money in the New World

new world saving

What a difference nine months make. In the not-long-ago credit-card binge days, one of the “in” things was to own a TV the size of a bus. Today, it’s to have six months of living expenses saved in case you get laid off. Until recently, buying was the social norm; ”having stuff, having name brand […]

It’s Still Possible to Get a Home Loan

home loan

The days of doling out home loans to just anyone are over. With the nation facing a deepening financial crisis, mortgage banks have tightened their credit standards. Here’s how to get that new home loan: At Fresno-based Murphy Bank, Vice President Richard Laxton says the bank is looking for people with a credit score of 700 […]

Phishing Lures Hit Home Mortgages

mortgage phishing lures hit home

I received an e-mail on one of my unadvertised accounts from my mortgage lender, announcing that it had been trying to get in touch with me and asking me to respond with all sorts of personal information. I was, of course, suspicious, since my lender has my address and phone number, and has been informed […]

Teaming up with Your Lender for a Loan Modification

Suppose you’re behind on your house payments. You dial the phone number on your most recent mortgage statement, clear the usual hurdles, and finally reach someone who understands your situation and offers to help. You are one of the lucky homeowners who has a cooperative lender. Now what? What can you do to team up […]

Avoid Getting Hooked by Debt-Reduction Schemes

avoid debt reduction schemes

Get rid of debt fast and easy, for pennies on the dollar. If the deal sounds too good to be true … well … you know the drill. As the jobless rate climbs, many people find themselves falling behind on credit-card bills, struggling with living expenses and bogged down with a mortgage or car payment. […]

Will Stimulus Benefit Homeowners and Buyers?

stimulus help home buyers

“There are four primary sections of the economic stimulus plan that will benefit home owners and buyers,” said Gibran Nicholas, chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. According to Nicholas, these include: 1. Expansion of Home Improvement Tax Credit. ”The tax credit for making energy efficient home improvements is […]

How do lenders define bad credit?

It is all those things that appear on your credit report that are unflattering. They include: missing a credit card payment, defaulting on a previous loan, filing for bankruptcy in the past seven years, or not paying your taxes. Other black marks include a judgment filed against you – perhaps for non-payment of spousal or […]