30 Apr 2005 10:11 AM

Reverse mortgages will gain popularity as more baby boomers are approaching retirement. This kind of loan is indeed the opposite of a regular mortgage as it allows seniors to borrow against the equity in the house. Debt does not have to be repaid as long as the senior lives. The heirs will inherit the remaining part of the equity

02 Apr 2005 05:10 AM

Sure there is. Even if you made the mistake of shoring up too much debt and were not able to cope with it at one point in your life, there are still people willing to make money off you by extending a mortgage loan. This

23 Mar 2005 10:33 AM

With stock markets faltering and some investors’ hearts still smouldering with the bitterness of the 2002 crash, more and more people are turning to real estate as a sure investment bet. The National Association of Realtors reports that last year about 1.8 million homes were bought in the US for investment, almost one-fourth

02 Feb 2005 09:25 AM

Holy smokes, do you feel like you’re just another number yet? Well, finance is based on numbers, and people who deal with numbers are more often than not left-brain thinkers. Back to Psychology 101, folks. I see it all the time…people thinking that the financial gods of Isaac are against them.

12 Jan 2005 07:03 AM

Before we get started, I want to ask you a question. Who loans money? The Federal Reserve, commercial banks, insurance companies, mortgage backed securities, lenders such as Fannie May, Freddie Mac/HUD, local savings and loans, credit unions, mortgage brokers, wealthy private individuals, the

18 Nov 2004 12:06 PM

More and more homeowners opt for refinancing at the time of historically low interest rates. The hassle and expenses associated with refinancing are justified if:

18 Nov 2004 11:58 AM

A few decades ago, the home buyer could only get the only type of loan: fixed-rate 30-year mortgage. Now the borrower can choose between the rate that is fixed for the life of the loan (fixed-rate mortgage or FRM) and a rate that fluctuates in line with major indexes (adjustable-rate mortgage or ARM). Both have their advantages and disadvantages.

18 Nov 2004 11:49 AM

“Specialty financing” or “loans for someone with less than perfect credit” are polite terms used to market “subprime” or “non-prime loans”. Sometimes they are effectively the only way to homeownership for those who have frequent late payments, bankruptcies, liens, judgments or other mishaps tarnishing their credit history. People with below-standard credit histories will end up with above-market interest rates and unfavorable terms, but get a chance to re-establish their credit.

18 Nov 2004 11:41 AM

Lending institutions that will decide on your mortgage application will look at a variety of factors, such as your employment record, the number of credit cards you have and your credit record, which is why you should start the process by requesting a copy of your credit report from a credit rating agency.

18 Nov 2004 11:35 AM

Paperwork involved in the mortgage application process is so extensive that you had better start gathering it a long time in advance. Full documentation will include: