Strategies for Managing and Reducing Debt

(BPT) – Are you feeling overwhelmed by your monthly bills? Do you only pay the minimum on your credit cards each month, or use several credit cards to spread out your debt? These are all warning signs that your habits may be keeping you from reaching your financial goals. The good news is, you can…

Home Buying Following Personal Bankruptcy

So, you have decided to purchase a home: that is good news. Now for the really hard part: securing a home loan. Yes, there are literally hundreds of lenders out there many of whom are clamoring to lend money to you. It is a competitive business one that often works in the favor of the…

Why Are Mortgage Rates So Low?

For many people, the most important purchase that they can make in their life is the purchase of a home. Reaching a point in life where one wants to lay down roots and make a long term investment in a more secure life without the hassles of renting is an important milestone. Although the financial…

Adjustable and Fixed Mortgage Rates – Which one is better

When planning to purchase a home, potential buyers always consider getting help from mortgage lenders. Mortgage lenders consist of institutions or individuals who offer huge sums of money which can be repaid later in easy installments. But in exchange for the convenience offered by mortgage financing, a mortgage lender has to gain profit and this…

What You Need to Know About Buying a Foreclosed Home

First-time home buyers and investors looking for a bargain may consider foreclosed homes. Such properties are in abundance across the nation as homeowners continue to default on their mortgages and abandon their properties. While a foreclosed home can and should be viewed as an opportunity, there are several considerations prospective buyers should consider before making…

Which Is Better: Fixed Rate or Adjustable Rate Mortgage?

People often assume that because adjustable-rate mortgages “share risk” between mortgage lender and mortgage lendee, they will be rewarded with a lower mortgage rate than if they chose a comparable fixed-rate mortgage. The chart at the left proves that thinking false. Three separate times since mid-September, 5-year ARMs priced worse than a similar 30-year, fixed rate…

Backward Banking

I don’t know if it’s Dodd-Frank. Or if it’s Barney Frank and Christopher Dodd themselves. Or if it’s just the big bankers. But the reality is, our banking system is completely screwed up when it comes to getting a home loan. The problem used to be that the banks, in collusion with a federal government,…

Tips for Avoiding Foreclosure

Go ahead and Google  the word “foreclosure” and you’ll get over 61 million hits.    Most will be for ‘foreclosure help”, or “stop foreclosure”, or “avoid foreclosure.” If you are  having trouble keeping up with your mortgage payments or if you have  received a notice from your lender asking you to contact them, don’t fall…