Foreclosure solutions: how to avoid foreclosure

With the housing market still in a bust, there are plenty of people that haven’t been able to make their payments. If you’ve fallen behind on your mortgage payments – or think you might – don’t automatically jump to the foreclosure square on the board – you might be able to still pass go and collect $200. Foreclosure isn’t the only answer in times of financial hardship. Below are…

How to lower your homeowner’s insurance costs

Refinancing at lower mortgage rates is one way to save some cash on your house payments, but if you’re looking for even more wiggle room in your budget, take a close look at your homeowner’s insurance.

Policies can cost thousands a year. Insurers base premiums on a number of factors, including square footage, estimated rebuilding costs and your overall risk factor. The square footage and rebuilding costs will stay…

New HARP refinance program: are you eligible?

In order to finance their homes at much lower mortgage rates, underwater homeowners have been waiting for the fruition of HARP 2.0 – the revamped Home Affordable Refinance Program. You can now start applying for a refinance, but that doesn’t mean that you’ll automatically qualify. There are still several requirements that you’ll need to meet.

HARP is meant to help those that owe more on their home than it’s…

Is a mortgage refinance right for you?

As of Nov. 23, 2011, the average 30-year mortgage rates were 3.98 percent. The average 15-year mortgage rates were at 3.30 percent. If that’s not enough to make you consider refinancing, I don’t know what would be. Rates are at record lows, but is refinancing right for you?

Calculate the costs

Even though you’re refinancing at a lower rate,…

Is your home listing keeping buyers away?

You’ve put a lot of work into your home, so it should sell itself, right? Wrong. Unfortunately, there are plenty of mistakes you can make when listing your home that will impede its purchase. Due to record low mortgage rates, it’s a buyer’s market, so you want to make sure you’re doing everything you can to get the right price for your house.

How you can get 4% mortgage rates

Mortgage rates are low. The average 30-year mortgage rate dropped below 4 percent for the first time in decades, but that doesn’t mean it’s going to be easy to get a rate below 4 percent.

According to LendingTree, only around 9 percent of those applying for a mortgage received a rate below 4 percent. More often, applicants picked up a rate around 4.5 percent or above.

Fortunately, there are still…

Buying a home for rental income: Is it worth it?

In this real estate market, flipping a home isn’t the best idea. Even though mortgage rates are low, there are too few buyers. And without a real estate boom, the profits simply aren’t as high as they were during the bubble. But that doesn’t mean that buying a home for long-term rental income is a bad idea. In fact, buying to rent might be fairly profitable given the right…

To buy or not to buy: Discussing record low mortgage rates

Home prices and mortgage rates are both historically low – the average 15-year fixed mortgage is right around four percent. That’s the perfect storm for those in the market to buy. But there are a few things to know before you cut the ribbon on a new home.

Good credit,…

Proposed changes to HARP might help you refinance

Average 30-year fixed mortgage rates dropped to 4.12 percent last week – the lowest rate in over 50 years. That means you’re now at an advantage if you’re looking to refinance – if you’re eligible. Since many currently don’t qualify, the White House is considering giving the Home Affordable Refinance Program, HARP, a facelift. The overhaul will allow responsible homeowners the opportunity to refinance at lower rates. That…

Fixed or Adjustable Mortgage Rates?

Looking for a home and not sure what kind of mortgage you should get? I often get inquires about whether or not a fixed-rate or adjustable rate mortgage is a better deal. Adjustable rate mortgages, ARMs, are becoming more popular again due in part to their lower mortgage  rates, but a fixed-rate can provide some stability. Needless to…