All Posts Tagged With: "interest"
New HUD Rule Goes After Fake Mortgage Loan Letters
Did you ever wonder why you get so many letters and emails from lenders who offer low mortgage quotes and seem to be affiliated with the FHA or HUD? The answer, very simply, is that you ought to wonder. Why? Lenders are not supposed to imply or infer any endorsement from the federal government. In [...]
26Apr2011 | Peter G. Miller | 0 comments | Continued
How To RAISE Social Security Benefits Now
Social Security is much in the news with claims that it’s going bankrupt and cries that benefits must be cut. But that isn’t the case, in fact if everyone simply paid their fair share of the costs — if bosses paid as much of their income as their workers — benefits could be maintained or [...]
5Apr2011 | Peter G. Miller | 19 comments | Continued
Can Bi-Weekly Loans Stop Mortgage Foreclosures?
If you have a bi-weekly mortgage will your payments be more in line with your paycheck, thus lowering your costs and reducing the chance for foreclosure? Imagine that a household has two wage-earners who take in $100,000 per year. Lenders allow them to finance with monthly payments equal to 31 percent of their income or [...]
28Mar2011 | Peter G. Miller | 0 comments | Continued
JP Morgan Chase Boosts VA Mortgage Protections for Military Service Members
JP Morgan Chase seems to have learned a lesson. The mortgage behemoth recently announced it will boost protections for service members in the coming months, on the heels of revelations that the company repeatedly violated the Servicemembers Civil Relief Act. The law protects active duty military members from foreclosure, high interest rates and other civil and [...]
17Feb2011 | Chris Birk | 0 comments | Continued
Will Rising Gas Prices Down Home Values?
About the last thing anyone wants to hear is that gasoline prices are rising. They topped $3 a gallon at year-end and the outlook for the future is hardly great: Several sources are predicting $5 gas by 2012. In a very-direct way gas prices have a lot to do with current mortgage rates, refinancing and [...]
3Jan2011 | Peter G. Miller | 0 comments | Continued
Mortgage loan rates higher for fifth week
Interest rates for the week of December 16th rose to 4.83 percent for 30-year fixed-rate financing according to Freddie Mac. This was the fifth week in a row where fixed-rate mortgage rates were up — in fact, rates have risen .66 percent — two-thirds of a percent — since November 11th when the interest cost [...]
16Dec2010 | Peter G. Miller | 0 comments | Continued
Mortgage rates rise for third week
Mortgage interest rates reached 4.46 percent for 30-year fixed-rate loans last week, according to Freddie Mac, an increase of .06 percent. Last year at this time the same loan was priced at 4.71 percent. The latest Freddie Mac weekly interest rates show that 15-year fixed-rate financing averaged FRM 3.77 percent, down from 4.27 percent a [...]
2Dec2010 | Peter G. Miller | 0 comments | Continued
What’s a Hard Money Mortgage?
When we think of mortgages we usually think of long-term financing insured by the FHA, VA or with private mortgage insurance. If we have enough cash for a down payment of at least 20 percent then we don’t need mortgage insurance and can just get a conventional loan. However, there are situations where owners run [...]
12May2010 | Peter G. Miller | 0 comments | Continued
Google Mortgage Ads — Do They Reduce Borrower Costs?
Several months ago Google began offering a new service for advertisers, an ability to post comparison ads. You can see this today with mortgages — just go to: Conventional Mortgages FHA Mortgages Jumbo Mortgages VA Mortgages Go to any of these links and you’ll see that Google generates a search for the type of mortgage [...]
3May2010 | Peter G. Miller | 0 comments | Continued
ARMs & Out-Of-Whack Pricing
The government reports today that interest levels for fixed-rate 30-year loans reached 5.13 percent in February — up a touch from 5.06 percent in February 2009. What’s really amazing, however, is the interest level for adjustable-rate mortgages. In February a typical ARM was priced at 5.03 percent. You have to wonder: Why would any sentient [...]
30Mar2010 | Peter G. Miller | 0 comments | Continued
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