Category Archives: Foreclosure
Simple Interest Mortgages Are Not So Simple
When students sit there like zombies, teachers wonder whether all their efforts are in vain. After graduation, though, they feel more confident about the lessons they imparted that will stay with their students forever. The English teachers who introduced students to the Gilgamesh epic quietly holding their heads high, knowing they have made a… Read More »
Are Escrow Payments Pushing You Toward Mortgage Foreclosure?
You might think that you lucked out by getting a fixed rate mortgage instead of an adjustable-rate mortgage. Adjustable-rate mortgages are a constant source of stress. Once the adjustment begins, your mortgage payment can increase dramatically from one pay period to the next. It is a race against time to refinance your mortgage, increase… Read More »
What’s This About 50-Year Mortgages?
Anyone who makes their debts disappear does so at substantial risk to themselves. When you file for bankruptcy protection, it means that you publicly declare, under penalty of perjury, that you have exhibited a consistent pattern of borrowing money and not repaying it. When you do this, the court discharges your eligible debts, but… Read More »
How Risky Are Adjustable-Rate Mortgages?
First-time homebuyers have heard the stories of the 2008 housing market crisis in the context that these stories belong to the before times; they depict a world that no longer exists. The phrase “adjustable-rate mortgages” appears frequently in this narrative. The young generation of homebuyers think of this phrase as the name of a… Read More »
Mortgage Origination Fees
If you are worrying about mortgage origination fees, the finish line is within sight, and you have almost achieved the dream of homeownership. You have already placed a down payment, and you have already persuaded the lender that your income is high enough to keep up with the monthly payments. Now it is just… Read More »
Are Zero Down Payment Mortgages Too Good to Be True?
The thought of having enough money to place a down payment on a house when you take out a mortgage loan is daunting, unless you are using the proceeds of a previous home sale to pay for your new property. You may have even heard about the sobering statistic that, if you have never… Read More »
Mortgage Rescue
It is always stressful to fall behind on bills, but if you own your house and owe a mortgage on it, then your mortgage payment is always the financial issue that looms the largest in your mind. People let all their other bills pile up before they will miss a payment on their mortgage. … Read More »
Are Appraisals to Blame for Your Mortgage Woes?
It is so difficult to qualify for a home mortgage these days that, if you complain about how expensive your mortgage payment is, almost everyone you know will accuse you of humblebragging. It isn’t only the people who are trying to apply for mortgages, and facing bigger and bigger obstacles, who are struggling. The… Read More »
Think Twice Before Assuming Someone Else’s Mortgage
Journalists have been saying for at least a year that the only way you can afford to be a first-time homebuyer is if your parents give you money for a down payment, co-sign with you on the mortgage loan, or both. Where does that leave the rest of us who do not have wealthy… Read More »
Avoiding Foreclosure When You Can’t Afford to Keep Your House
When you look for advice about avoiding foreclosure, it becomes obvious that the best way to stop the bank from trying to get its paws on your house is not to borrow a mortgage loan that you cannot afford. To someone who has fallen behind on mortgage payments, this is as unhelpful as saying,… Read More »