mortgages

Bridge loans to your new house

November 4, 2009 - 3:00am | Analytics | Articles

If you are going to buy a new house before selling your existing one, where will you take money for a down payment? One of the common ways to finance your new purchase is to take a bridge loan. They have become popular because sellers have increased difficulty to sell their property in a short time frame. However, be careful. The interest rates are high, and there are a lot of additional costs and fees involved. Read more about all sides of bridge loans to make a more educated decision.

Bridge loans characteristics

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Attention, budget-conscious borrowers: upside down loans

October 22, 2009 - 11:43am | Analytics | Articles

Are you going to take a loan? Make sure that it won’t turn your comfortable financial world upside down. According to statistics, nowadays up to 40% of consumers owe more on their car or home than it is worth. These types of loans are called “upside down.” They can bring you into financial trouble and hamper your successful future.

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Economic recession in US has led people to emotional depression

September 3, 2009 - 10:50am | Figures | News

According to a new survey, the recession has left many jobless workers struggling to cope with the psychological stress caused by becoming unemployed in a weak economy.

Researchers at the John J. Heldrich Center for Workforce Development at Rutgers University found the financial strain that comes with being out of work combined with the sometimes daunting task of seeking new employment in a difficult

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Modifications cause higher mortgage payments and re-defaults

April 6, 2009 - 8:22am | Figures | News

The Office of the Comptroller of the Currency and the Office of Thrift Supervision report showed that there were fewer than 90 percent of mortgages being paid on time in the fourth quarter of 2008, a 3% less than in previous year.

Some other information that the report has provided were: the percentage of prime borrowers who were at least 90 days late on their mortgages more than doubled during March 31, 2008 and Dec.

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Good debt vs. bad debt

March 13, 2009 - 3:14pm | Analytics | Articles

You maybe surprised to hear that living without debt is not necessarily wise. There are few people who earn enough money to pay cash for big-ticket items such as a higher education, home or a vehicle. In some cases your debt can be a smart investment, in others – a financial trap. So while shopping for a loan, you need to understand whether you are going to owe good debt or bad debt.

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$75 billion assigned by Obama to help homeowners

February 19, 2009 - 8:31am | News | Other themes

President Barack Obama threw a $75 billion lifeline, aimed at preventing 9 million homeowners from being evicted and at stabilizing housing markets. The lifeline exceeded administration suggestion on the matter by $25 billion.

Government support to mortgage giants Fannie Mae and Freddie Mac is being doubled as well, to $400 billion, in order to encourage them to refinance loans in which homes' market values have sunk below the amount the owners still owe.

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Number of mortgages to be modified by JPMorgan may rise to a million

February 19, 2009 - 1:02am | Banks and internet banks | News

Jamie Dimon, CEO of JPMorgan Chase & Co, stated that the bank may increase the number of mortgage loans to be restructured. Earlier JPMorgan told that it expects to renegotiate about 600,000 but according to the latest reports from the bank this figure may rise.

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Barack Obama proposes his own rescue plan

February 13, 2009 - 2:41pm | News | Other themes

It has been revealed that Obama administration is working on the program in order to subsidize mortgages in a new front to fight the credit crisis by helping homeowners not to fall into arrears on their loans.

It is known that the Wall Street stock indexes are continuing to fall: blue-chip Dow Jones industrial average has jumped 245 points (3.0 percent) and closed 6 points lower on the day.

Barack Obama | housing program | loan subsidies | mortgages | rescue plan

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