Tag: Mortgage Payments
Reducing Expensive Mortgage Payments
With high interest rates and some remaining unemployment from the Great Recession, you may be struggling to stay current on the payments to this day. Although it may sound too good to be true, there is a government-backed program that helps you reduce monthly payments with a refinance. HARP Basics HARP is a program designed […]
The Nation’s Top Five States Highest in Foreclosure Filings
Currently in the U.S. there are well over 1 million properties that are in a stage of foreclosure, 1,094,710 to be exact. As of the month in June, properties foreclosed was reported from RealtyTrac was 2% lower than the month of May and 16% lower than the the same time in 2013. The home sales […]
February 2014: Realtytrac’s Top 5 Foreclosure States
According to a most recent Realtytrac (the leading online marketplace of foreclosure properties, along with detailed property and home sales data) report released for the month of February 2014, there are currently 1,196,954 properties that are in some stage of foreclosure in the United States today. The number of foreclosure filings received for the month […]
December 2013 CoreLogic Report: Top 10 Negative Equity States
As a nation, the U.S. currently has 1,188,502 properties currently in some stage of foreclosure according to the recent Realtytrac Foreclosure report for the month of January 2014. The nation’s negative equity share released by Corelogic (a leading property information, analytics and services provider in the United States) for the fourth quarter (most recent report […]
December 2013: FHFA’s Top 10 HARP Refinance States
The Federal Housing Finance Agency (FHFA) released its most recent HARP Refinance Activity report for December 2013. Ending the year of 2013, Florida had the highest HARP Refinance volume along with the most underwater borrowers with LTV’s greater than 125 percent. Underwater homeowners nationwide have been able to reap the benefits of the unique refinance […]
RealtyTrac – Foreclosure Report: January 2014
There was a spike in foreclosure numbers interpreted in the most recent report released by RealtyTrac (the nation’s leading source of comprehensive housing data). The U.S. saw an 8 percent increase in January and double digit increases in several states. There were a total of 124,419 reported U.S. properties, one in every 1,058 housing units […]
FHFA Report – November 2013: Top 10 HARP Refinance States
According to the Federal Housing Finance Agency (FHFA) and the most recent report put out in HARP Refinance activities for November 2013. HARP refinances have continued to decrease as mortgage rates are at a range of four to four and a half percent since June 2013. The average interest rate in a 30 year fixed […]
When Do Adjustable Rate Mortgages Make Sense?
All your friends and family have told you to stick with a fixed rate mortgage loan, but you are considering an adjustable type. Adjustable rate mortgages, or ARMs, are loans with an interest rate that changes periodically, typically each year. Although this prospective change in payment amount seems taunting, there are certain situations where ARMs […]
How Do I Determine The Initial Offer?
Each real estate transaction is unique, allowing both sellers and buyers to negotiate over pricing, appliances and even closing costs. Your initial offer is often the starting point for final negotiations. You want this offer to be fair for both parties, depending on the property and seller’s situation. Communication Is Key For most homebuyers, you […]
How Does The Interest Rate Factor In Securing A Mortgage Loan?
Your monthly mortgage payment is greatly influenced by the interest rate you agree to when taking out the home loan. Appearing like a lesson in gambling, interest rates are never completely stable. They fluctuate each day by tenths, hundredths and thousandths of a percent. When you secure a mortgage loan, the interest rate factors in […]
What Happens If Interest Rates Decrease And I Have A Fixed Rate Loan?
When applying for a mortgage or refinancing a present mortgage, a borrower may choose between a fixed rate mortgage or an adjustable-rate mortgage. Just as the name would suggest, an adjustable rate mortgage is one in which the interest rate may vary over time. Current homeowners often consider refinancing when interest rates go down to […]
What Factors Affect Mortgage Payments?
When getting a mortgage, a borrower will have to pay a monthly payment for the next 15 or 30 years. The payment size usually depends on a few major factors. Here are five factors that determine the size of a mortgage payment: Interest rate: When getting a loan for a home, a borrower will pay […]
What Are The Advantages Of The 15 And 30-Year Fixed Rate Mortgages?
Buying a new home is one of the biggest decisions that you will ever have to make. While most people focus on the decision of actually buying the home, an equally important decision is choosing the right mortgage. There are many different types of mortgages available, the two most popular of which are fixed and […]
Infographic – 15 VS. 30 Year Fixed Rate Mortgage
Fixed rate mortgages for some are more affordable since the rate stays the same for several years regardless of market conditions that affect the movement of rates. The most common fixed rate mortgages are either a 15 year or 30 year. Keep in mind that majority of the time the longer the life of your […]
