Although government bond yields dropped in the past week, lenders have continued to hold mortgage interest rates steady. On Thursday, the 10-year yield on bonds dropped to 1.387 percent, while the average interest rate for a 30-year fixed mortgage was 3.41 percent. The difference of 2.02 percent is higher than it has been since the
Mortgage Refinance
Mortgage relief scams have become more common as of late, but a number of homeowners are unaware of these fraudulent activities and their consequences. These scams begin when the scammer calls a homeowner and claims they can help the consumer negotiate a loan modification or some other type of foreclosure relief with the homeowner’s mortgage
Homeowners who have retired or who are close to retiring and still have a mortgage may have concerns about their finances. While many do pay off their mortgage before retiring, those who purchased a home later in life with a 30-year mortgage or who have had to refinance their home for some reason may find
At various times in life, your mortgage can seem overwhelming – either from the size of the monthly payments or the overall amount of interest you will pay. If you are looking for methods to save either way, here are a few suggestions:
Consider Refinancing – Fixed interest rates are going up again, but they
Homeowners rarely think about dying when they apply for a mortgage, but legal experts urge buyers, especially older buyers, to learn about what happens to their loan and their property if they die before the balance is paid in full. Bernard A. Krooks, an elder law expert, stresses that seniors need to be informed so
As the tax filing deadline looms, many Americans continue to prepare and file their annual income taxes. For the 86 million taxpayers who own their homes and have a mortgage, there are several different tax deductions they can take advantage of, including deducting their mortgage interest and the insurance premiums of any private mortgage insurance.
Freddie Mac and Fannie Mae have announced that as many as 50,000 homeowners may be eligible for mortgage balance reductions. The Federal Housing Finance Agency (FHFA) has approved the new plan that is aimed at helping those who are struggling to pay their monthly mortgage payments. However, many feel that the plan does not go
“Operation Mis-Modification” may sound like a bad TV sitcom or a strange new form of pageant, but it is actually a joint effort from the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC) and officials from fifteen states, designed to crack down on mortgage-relief scammers.
During the mortgage crisis, desperate homeowners sought help
APR and APY – are they new texting acronyms? IDK, you say – or rather, you text? (For the benefit of the textually-challenged, IDK means “I don’t know.”) If you think they are texting acronyms, or just “DK” what they are, it’s time to learn.
APR and APY are financial acronyms, short for Annual Percentage