Feb 2, 2012 0
Question: Should I Refinance? Our home mortgages remain both our biggest monthly bill and our greatest investment. With all the economic uncertainty, we still have very low interest rates between four and five percent for 15 year loans, and less than six percent for many 30 year loans. A question facing many families is: Should I refinance?
Jan 29, 2012 0
Over the past couple of days, a new possible excuse for the recession has been coming up here and there and it’s called the mark-to-market accounting rule, and not a lot of people know what it is. I had to look it up myself, and I’ll try my best to explain what it’s about.
Jan 24, 2012 0
At some point in time, you tend to ask yourself, who is in charge of protecting me from possibly bad mortgage business practices?
The Federal Trade Commission is the main government body that regulates the business of mortgage brokering. The FTC is tasked to enforce the basic consumer protection statute (found in Section 5(a) of the FTC act) that states that “unfair or deceptive acts or practices in or affecting commerce … are … declared unlawful.” So in this case, your rights as a consumer are protected by the FTC and in turn, they watch over the business of mortgages.
States are also regulators for mortgage brokers. They issue licenses to brokers to allow them to run their businesses in their locality. In this sense, a lot of people who work on loans that pertain to mortgages and call themselves mortgage brokers really are not legally allowed to do so.
Further information about the regulators of the mortgage industry can be found on these websites:
www.CSBS.org
www.AARMR.org
www.namb.org
www.nabmb.org
Jan 23, 2012 0
Okay we’ve talked a lot about Refinancing your loan. But how to do it? What are your options? In this first part, we’re going to show you what options you have when it comes to a refinance move. Your home mortgage will go a long way yet. 
Continue reading Refinance Your Loan! Here are Some Ways – Part I
Jan 21, 2012 0
A couple I know recently purchased a home costing $400,000. They weighed their options and felt that the best way to finance this is with an adjustable rate mortgage (ARM).
ARMs have taken a lot of criticisms for the mortgage crisis. With these loans like these, borrowers pay out at a low initial rate for a fixed period of time. After that, mortgages will defer to higher rates. Critics say they lure borrowers into purchases that they can’t really afford.
Continue reading How to Refinance – Are Adjustable Rate Mortgages (ARM) Bad?
