Here’s a question for you that has been bugging me for years; why can’t home-builders follow the auto dealer’s classic model of old for new, and let people trade-in their old homes
If you are in the process of buying a new primary residence or second home, or considering refinancing a loan, a new set of federal consumer protection rules taking effect on July
The United States government launched the "Hope for Homeowners" program back in October, 2008, and so far only one loan has received final approval to refinance under this program.
The Obama administration announced a foreclosure prevention and mortgage reduction program about two months ago, and as of April less than 1000 loans have been refinanced under th
Today the Obama administration officially released the final details of the mortgage plan that was announced a few weeks ago. Here is a quick summary on what is in the plan and h
A few weeks ago I wrote an article about checking your mortgage statement, and interestingly enough my family was recently confronted with an erroneous mortgage statement. This is
This week the Federal Trade Commission sent out around $28 million in redress checks to more than 86,000 customers of Bear Stearns and EMC Mortgage Corporation. Apparently EMC Mor
Any institution that wants to fund mortgages has a problem. They want to lend the money out for thirty years, but the money they have to lend comes from deposits that can be withdr
The borrow-at-a-low-interest-rate-and-invest-to-get-greater-returns mentality was so embedded in our belief system that there almost seemed to be a stigma attached to not carrying
Credit card companies are tricky little jerks during the best of times. But now, with a lousy economic forecast and limited access to funds that can be loaned to consumers, banks a
Should you take advantage of the $700 billion bailout plan to help struggling homeowners and stop paying your mortgage?
When you think of people ruining their lives with foolish spending, it's easy to focus on the little things that add up--the meals out, the hefty bar tab, the daily Starbucks habit
Treasury Secretary Henry Paulson gave a speech yesterday, talking about the administration's plan to "address the challenges" of the housing market downturn and relat
It has never been unusual for borrowers to run into difficulty, and sometimes it becomes clear that a loan will never be repaid in full. The lender's job then is to recover as
What lessons can future homeowners take away from today's "mortgage crisis?"
Early in the subprime lending collapse, Wise Bread posted a report from Americans for Fairness in Lending explaining how the subprime lending boom hurt everyone. Since it's a
Among the Wise Bread community, I get the sense that there's a kind of "pox on both their houses" attitude to the problems in the subprime mortgage markets. People who worked thro
Wise Bread bloggers share their worst financial mistakes. Hopefully, wherever you may be in your living-large journey, you can learn from us.
Now that many of you have crunched the numbers for accelerating your mortgage payoff, I think you are ready for a quick lesson on speeding through your mortgage. Now, I am not sayi
Do-it-yourselfers who are weary of yet another trip to the home improvement store may like this DIY project. It has the possibilities of increasing home equity just as quickly as a bath remodel or new deck.
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