Mortgages Archives

NEW YORK (sbup) — The headline in Monday’s New York Times was enough to chill anyone with a mortgage: “Mortgage Interest Deduction, Once a Sacred Cow, Is Under Scrutiny.” Read more»

NEW YORK (sbup) — Whether to pay points is one of the bigger decisions a mortgage applicant must make, so let’s make it simple: These days, paying this unwelcome upfront charge may well be something you can skip with a clear conscience. But, of course, it depends on the deal and your long-term plans. Read more»

NEW YORK (sbup) — Buying a house is a laborious, complicated and paper-intensive process, and many buyers wonder if the odds aren’t stacked against them in getting a fair shake from lenders. Read more»

NEW YORK (sbup) — Hurricane Sandy’s deadly dance through some of the U.S’s most highly populated areas was terrible for many, but what does it mean for homeowners in its path? No doubt, they are already dealing with a litany of major problems, including power outages, lack of food and gasoline and the need for quality health care for young, old and otherwise afflicted friends and family members. Read more»

NEW YORK (sbup) — With mortgage rates at record lows, millions of homeowners can cut their monthly payments by refinancing older loans that charged more. But there’s a hitch: Lenders stung by the financial crisis are very picky about approving loans. There’s an alternative that doesn’t take anyone’s approval but your own, though: a program of mortgage prepayments – paying more each month that required. Read more»

NEW YORK (sbup) — If you’re applying for a mortgage, reporting lots of income is better than reporting a little. But showing too much income – or, more accurately, income from questionable sources – can invite a rejection. This is just another of those oddball concerns brought to us by the financial crisis, which has made lenders hypersensitive to risks. Read more»

NEW YORK (sbup) – Switch on the TV and sooner or later you’ll see an aging actor pitching reverse mortgages for retirees. Nothing wrong with that: The point is to use a reverser to tap your home equity after turning 62. Read more»

NEW YORK (sbup) – In February 2009, the federal government’s Home Affordable Modification Program was billed as a safety net program that would keep 4 million American families out of foreclosure. Read more»

NEW YORK (sbup) -- “Should I pay points, or not?” It’s one of the first questions a mortgage borrower faces, and many simply reject the extra payment as an excessive cost with uncertain benefits. But in today’s market, points can make good sense.   Read more»