mortgage

Details of Obama's mortgage plan released - Will you benefit?

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

Countrywide tried to steal my parents' money - How you can avoid being a victim of mortgage servicing fraud

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

How to check if your mortgage statement is correct

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

Three bad ways to fund mortgage lending (and maybe a good way)

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

Rethinking The Early Mortgage Payoff

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

Is your credit score suffering without your knowledge?

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 We All Just Stop Paying the Mortgage?

Should you take advantage of the $700 billion bailout plan to help struggling homeowners and stop paying your mortgage?

Why Would Anyone Pay Mortgages With Credit Cards?

Today I received an email from American Express that advertised a program where you can earn rewards by paying your Indymac mortgages with an American Express credit card. I do no

Manage your fixed expenses

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

How to keep the low teaser rate for your mortgage

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

They used to call it "loan workout"

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

Why mortgages have eaten Americans out of house and home

What lessons can future homeowners take away from today's "mortgage crisis?"

Interview with AFFIL executive director Jim Campen

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

How the subprime lending boom hurt everybody

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

Our Worst Financial Mistakes and What You Can Learn From Them

Wise Bread bloggers share their worst financial mistakes. Hopefully, wherever you may be in your living-large journey, you can learn from us.

Speeding through your mortgage

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

DIY Mortgage Acceleration

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. [more]

How to Build Your Own Amortization Schedule

Looking for a dull, but financially eye-opening home project? Great! Today, we're going to build an amortization schedule. [more]

Money Metaphors (You wouldn't punch a kitten, would you?)

Equating my money, emotionally, with something that I find dear and worthy of protection, may force me to treat my money with the respect it deserves.

How to Avoid Foreclosure

What would you do if you were about to lose your home? What would you be willing to do to keep it? Is it even possible to keep it once you've missed a few payments? [more]