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Home Loans and Mortgages - Tips to Avoid Foreclosure
Today's real estate market is a volatile one; prices are at record levels and Interest rates are favorable, but foreclosures are increasing. Wages haven't kept up with home prices and some buyers who had to stretch to find a way to obtain a mortgage in the first place are having trouble making their payments. Usually, if a buyer cannot meet his or her mortgage obligation, the lender forecloses, taking the home and leaving the buyer without a place to live and a tarnished credit record. If you are having problems paying your mortgage, can you avoid this scenario?
Depending on your type of mortgage and your lender, you may have other options. Most lenders, wary of rising foreclosure rates, would rather work out some sort of solution than take your home. Lenders are in the business of lending money, not selling houses, and the process of foreclosure is a tedious one that most institutions would rather avoid. The first thing you should do if you find yourself with a problem making your payments is to call your lender and discuss the matter with them. The sooner you contact them, the more likely you are to work out a solution that's agreeable to both of you.
Here are a few possible options for buyers who are having temporary cash flow problems:
These are just a few choices that may be available to you. Your lender may offer other solutions, as well, so don't' hesitate to call them if you find yourself in financial trouble. It is far better to contact the lender and tell them of your problems than to have them call you and ask, "Where is our money?" Be forthright and tell them that you want to work something out, and you may find a solution that allows you to keep your home. It never hurts to ask.
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including HomeEquityHelp.com, a site devoted to information regarding mortgages and home equity loans .
MORE RESOURCES updated Sat. June / 15 / 2019
Mortgage Rates Drop Again -- Homeowners Can Save Hundreds Per Month By Refinancing Forbes
Mortgage rates are continuing their downward spiral. The average rate on a 30-year fixed-rate loan has dropped to just 3.82%—down from 4.54% last June and ...
Mortgage applications surge on refinances as rates hit 21-month low USA TODAY
As mortgage rates fell to the lowest level since September 2017, mortgage applications surged 26.8% last week, led by an increase in refinancing.
Refinance rates decline for Thursday Bankrate.com
Several key refinance rates sunk lower today. Average rates nationwide for 30-year fixed and 15-year fixed refinances both trended down. The average rate on ...
Mortgage Applications, Refinances Surge After Interest Rate Drop Forbes
Thanks to low mortgage rates and slowing home prices, mortgage applications and refinances soared last week.
As mortgage rates plunge, should you refinance? Fox Business
Nearly 6 million people can now cut their mortgage payments with refinancing.
Does refinancing your mortgage make sense as interest rates fall and why these couples say they’ll never move in together - MarketWatch
Does refinancing your mortgage make sense as interest rates fall and why these couples say they’ll never move in together MarketWatch
Happy Thursday, MarketWatchers! Don't miss these top stories: Personal Finance. The filthy mistake you're likely making in the kitchen — and its simple $14 ...
Refinance mortgage rate ticks higher for Monday Bankrate.com
Refinance rates were mixed, but one key rate notched higher. See what that means for you if you're in the market for a home loan.
Mortgage rates are falling—here's how to tell if you could save money by refinancing CNBC
As mortgage interest rates drop, homeowners could save hundreds per month by refinancing. However, it's not a smart financial decision for everyone.
Airbnb adds another mortgage refinancing partner Inman.com
Guild Mortgage has become the latest home loan provider to treat short-term rental revenue from Airbnb as income for homeowners applying to refinance their ...
Nearly 6 million people can now cut their mortgage payments with refinancing The Gazette
The average interest for 30-year fixed-rate mortgages is nearing 4 percent again, ushering the way for millions more homeowners to save money by refinancing.
Mortgage refinancing jumps as rates tumble but loans for home purchases drop again USA TODAY
Mortgage rates fell for the fourth straight week leading to a surge in refinancing. But mortgage applications for home purchases fell.
Refinance rates dip for Tuesday Bankrate.com
Several closely watched refinance rates sunk lower today. If you're shopping for a refi, see how that could affect you.
Falling Mortgage Rates Spur Application Frenzy The Wall Street Journal
Consumers are taking advantage of an unexpected decline in interest rates to buy homes and refinance their mortgages.
Refinance mortgage rate advances for Saturday Bankrate.com
Refinance rates were mixed, but one key rate floated higher. If you're shopping for a home loan, see what that means for you.
As mortgage rates plunge, millions more homeowners can benefit from refinancing CNBC
There are now about 5.9 million borrowers who could see their rates drop by at least 75 basis points by refinancing their mortgages.
Refinance rates tick lower for Friday Bankrate.com
Multiple benchmark refinance rates ticked downward today. Average rates nationwide for 30-year fixed and 15-year fixed refinances both trended down.
Refinance mortgage rate moves higher for Friday Bankrate.com
Refinance rates were mixed, but one key rate were higher. If you haven't locked a refi yet, see how your future mortgage payments could be affected.
Mortgage rates lower for Tuesday Bankrate.com
Several benchmark mortgage rates declined today. If you're shopping for a mortgage, see what that means for you.
Refinance mortgage rate advances for Thursday Bankrate.com
Refinance rates were mixed, but one key rate rose. See what that means for your refinance chances.
JACK GUTTENTAG: Shortening debt period is under-appreciated reason to refinance - Sarasota Herald-Tribune
JACK GUTTENTAG: Shortening debt period is under-appreciated reason to refinance Sarasota Herald-Tribune
The usual reasons to refinance are to reduce the monthly payment or to raise cash. The third option, which is under-appreciated, is to shorten the period of ...
Refinance rates retreat for Monday Bankrate.com
Several closely watched refinance rates fell today. If you're in the market for a home loan, see how your payments might be affected.
Refinance mortgage rate moves higher for Monday Bankrate.com
Refinance rates were mixed, but one key rate ticked up. If you're shopping for a mortgage, see how your payments might be affected.
Mortgage refinance candidates swelled by 2 million in May National Mortgage News
The most borrowers in three years currently qualify for refinancing as the average for the 30-year fixed-rate mortgage dropped below 4% for the first time in over ...
Nearly 6 Million People Can Now Cut Their Mortgage Payments With Refinancing | RisMedia.com
With interest on the low side, there is a potential to refinance and save.
Leading mortgage lender Quicken Loans sees record loan volumes CNBC
"We're having record months. This quarter will be the largest quarter in the company's history," Quicken Loans CEO Jay Farner says.
Refinance rates tick lower for Thursday Bankrate.com
Several closely watched refinance rates sunk lower today. If you're in the market for a home loan, see what that means for you.
Mortgage Investors' Refinance Concerns Rise With Rate Rally Bloomberg
Mortgage prepayment speeds may rise with the strong U.S. rate rally, and that may be cause for alarm for mortgage investors.
America's homebuyers are saving big as interest rates continue to decline HousingWire
Mortgage borrowers who shopped around last week could've saved $42137 the life of a $300000 loan, according to LendingTree's Mortgage Rate Competition ...
Millennial refinances see jump amidst dropping mortgage rates | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
Millennial refinances see jump amidst dropping mortgage rates | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
It seems Millennial homeowners are taking advantage of lower mortgage rates. According to new data, Millennial refinances have officially hit their highest point ...
Weekly mortgage applications drop 3.3%, as spring housing season draws to a close CNBC
Mortgage applications to purchase a home have now fallen for three straight weeks.
Mortgage Rates Drop and Stock Market Rises – Market Update Zing! Blog by Quicken Loans
Mortgage rates continue to fall and the stock market was up despite a weak jobs report. That and more coming in Market Update!
Mortgage rates today, June 13, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
Mortgage rates today, June 13, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
Average mortgage rates yesterday moved a little lower, roughly in line with our prediction. It wasn't a big drop. But it was welcome, coming as it did straight after ...
Dave Ramsey: Mortgage refinancing idea misses the point PostBulletin.com
Dear Dave, I recently started following your plan, and I've looked into refinancing the home I bought five years ago to free up more money to put toward paying ...
Mortgage refinance booms are a thing of the past: MBA chief economist National Mortgage News
The era of plentiful refinance volume is over for the foreseeable future, because mortgage rates remained in a very narrow band for the past decade, said ...
Mortgage rates move down for Wednesday Bankrate.com
Multiple closely watched mortgage rates receded today. If you're in the market for a mortgage, see how your payments might be affected.
Mortgage rates move higher for Tuesday Bankrate.com
Multiple closely watched mortgage rates rose today. The average for a 30-year fixed-rate mortgage were higher, but the average rate on a 15-year fixed receded ...
Key mortgage rate climbs for Monday Bankrate.com
Mortgage rates diverged today, but one key rate was higher. The average for a 30-year fixed-rate mortgage trended upward, but the average rate on a 15-year ...
Why more people aren’t buying homes as mortgage rates drop and Facebook wants to pay you for your data - MarketWatch
Why more people aren’t buying homes as mortgage rates drop and Facebook wants to pay you for your data MarketWatch
Happy Friday, MarketWatchers. Don't miss these top stories: Personal Finance. Former for-profit college students will have $168 million in student debt ...
Mortgage rates fall for Tuesday Bankrate.com
Multiple benchmark mortgage rates trended down today. The average rates on 30-year fixed and 15-year fixed mortgages both declined. The average rate on ...
Fannie Mae and Freddie Mac are refinancing fewer mortgages than at any point since the crisis - HousingWire
Fannie Mae and Freddie Mac are refinancing fewer mortgages than at any point since the crisis HousingWire
Recently released data from the Federal Reserve Bank of New York's Center for Microeconomic Data revealed that the first quarter of this year was the mortgage ...
Mortgage Rates Just Had Another Awesome Week Mortgage News Daily
While we can't say that this week's best mortgage rate offerings were quite as good as last week's best, they were pretty darn close. In fact, quite a few lenders ...
Just Approved: Divorcee refinances, removes ex from mortgage and lowers her monthly bills - San Francisco Chronicle
Just Approved: Divorcee refinances, removes ex from mortgage and lowers her monthly bills San Francisco Chronicle
Mortgage adviser: Brenda Wyatt. Property type: Single-family home in Lakeshore Terrace. Loan type: Conventional refinance. Purchase price: $670000.
Refinance mortgage rate ratchets higher for Tuesday Bankrate.com
Refinance rates were mixed, but one key rate climbed higher. See what that means for you if you're in the market for a home loan.
Kenya launches mortgage refinance firm to offer loans to lenders - Xinhua | English.news.cn - Xinhua
Kenya launches mortgage refinance firm to offer loans to lenders - Xinhua | English.news.cn Xinhua
NAIROBI, May 22 (Xinhua) -- Kenyan President Uhuru Kenyatta on Wednesday launched the Kenya Mortgage Refinance Company (KMRC), a financial ...
Mortgage rates today, June 11, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
Mortgage rates today, June 11, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
As we predicted, average mortgage rates jumped yesterday. So they're now above their lowest since the fall of 2017. The sharpness of the rise might make you ...
Treasury Yields May Take Another Step Down Thanks to Mortgages Bloomberg
The mortgage market was supposed to be quiet this year, but suddenly it's moving the biggest bond markets. When Treasury yields started falling in March after ...
Lender Sentiment Shines, Rising Profits and a Positive Outlook Mortgage News Daily
Lenders are singing a happier tune when it comes to their profit margin outlook with those hopes driven by rising confidence in mortgage demand. The net share ...
Plunging Mortgage Rates Could Drive Top Homebuilders Much Higher This Summer 24/7 Wall St.
We screened our 24/7 Wall St. research database looking for Buy ratings from Wall Street on the top homebuilders and found five companies that look like solid ...
Mortgage rates flat after swoon NWAOnline
After more than a month of declines, mortgage rates paused their descent ahead of next week's Federal Reserve meeting.
Cuyahoga County to Sell, Refinance Bonds for Rocket Mortgage FieldHouse Repairs Arena Digest
By refinancing previous bonds and issuing new bonds, Cuyahoga County will cover repairs at Cleveland's Rocket Mortgage FieldHouse.
Mortgages for Seniors: Everything You Need to Know U.S News & World Report Money
If you're retired and applying for a home loan, you're more likely to submit information about your pension and your 401(K) than a W-2.
The majority of consumers are wildly wrong about what it takes to get a mortgage CNBC
The majority of consumers think it is much harder to qualify for a home loan than it actually is, according to a recent Fannie Mae survey of more than 3000 ...
I used my HELOC to pay for college. Should I refinance my home mortgage? NJ.com
Q. I used my home equity line of credit (HELOC) to pay for my son's college. It has a $100,000 limit and I've used $85,000. I can handle the monthly payments ...
House committee passes bill to make FHA loans less expensive HousingWire
The House Financial Services Committee passed a bill Wednesday that would limit mortgage insurance payments on loans backed by the Federal Housing ...
Homebuyers, you could have saved this much on your mortgage last week HousingWire
Last week, the share of borrowers with rates under 4.25% ticked up. In fact, LendingTree's Mortgage Rate Competition Index indicates borrowers with rates ...
Local real estate market brings more opportunities for buyers Redmond Reporter
Homebuyers are also benefiting from lower interest rates, which are currently are less than four percent.
5 expert strategies for paying off graduate school student loans Bankrate.com
Graduate school: It's one of the biggest investments of your life. Not only does it extend your academic career, but it has the ability to make your student loan debt ...
Dave Ramsey: If you can’t afford a 15-year mortgage… and net worth and umbrella insurance - Deseret News
Dave Ramsey: If you can’t afford a 15-year mortgage… and net worth and umbrella insurance Deseret News
Is there ever a time when a 30-year mortgage is better than a 15-year mortgage? At what point, where your net worth is concerned, should you consider ...
VA loan series: VA vs FHA vs USDA | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
VA loan series: VA vs FHA vs USDA | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
VA loan *service* requirements are important when it comes time to get a VA mortgage. Depending on your *service* status it's possible to avoid funding fees.
eClose, Non-QM, Broker Products; VA and FHA Investor Shifts Mortgage News Daily
“The City of Baltimore, Maryland suffered a ransomware attack on May 7, 2019. Due to the attack, the City is currently unable to record documents until further ...
Kyrsten Sinema's bill to help veterans with their mortgages likely headed to Trump's desk - AZCentral
Kyrsten Sinema's bill to help veterans with their mortgages likely headed to Trump's desk AZCentral
Sen. Kyrsten Sinema's first piece of legislation to pass the Republican-controlled Senate aims to better protect veterans from predatory home loan practices.
Bistricer Refinances Brooklyn's 250 Livingston Street After Just Six Months Commercial Observer
David Bistricer's Clipper Equity has pulled in a $125 million refinancing from Citigroup to refinance a mixed-use building in Brooklyn just six months after it last ...
Applications for New Home Purchases Up 20%, Mortgage Rates Mostly Steady - National Mortgage Professional Magazine
Applications for New Home Purchases Up 20%, Mortgage Rates Mostly Steady National Mortgage Professional Magazine
Mortgage applications for new home purchases in May were up by a scant 0.1 percent from April and were up by a robust 20.1 percent from one year ago, ...
Here's What To Do If You Get Behind On Your Mortgage Forbes
Whether it's a job loss, unexpected medical bills, or something else, financial hardships can happen to anyone. If you've hit hard times and fallen behind on your ...
Benchmark mortgage rate increases for Wednesday Bankrate.com
Mortgage rates moved in different directions today, but one key rate rose. The average for a 30-year fixed-rate mortgage saw an increase, but the average rate ...
Cuyahoga County to borrow up to $40.5M for arena, ball field upgrades and repairs, refinance another $40M in bonds - cleveland.com
Cuyahoga County to borrow up to $40.5M for arena, ball field upgrades and repairs, refinance another $40M in bonds cleveland.com
The county is liable for repair and capital improvement works under the terms of leases the Cleveland Indians and Cleveland Cavaliers have with the Gateway ...
Home equity rises again — except in these two states | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
Home equity rises again — except in these two states | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
House price growth may be slowing down, but American homeowners still have something to celebrate. According to new data, they've gained more than $485 ...
Movement Mortgage, Better.com CEOs: The one-click mortgage is not the endgame for the housing business - HousingWire
Movement Mortgage, Better.com CEOs: The one-click mortgage is not the endgame for the housing business HousingWire
For the last several years, much of the narrative surrounding the housing business (and HousingWire is just as guilty of this as anyone) has been focused on the ...
Canadian Bank Hands Chicago-Area Burger Kings $73M Mortgage Commercial Observer
Burger King's parent company has picked up a $72.7 million mortgage to refinance a set of fast-food restaurants it owns around Chicago.
'Now Is The Time To Refinance': Low Mortgage Rates Cause Surge In Refinancing Forbes
Last week's massive dip in mortgage rates apparently pushed homeowners into action. According to new data from the Mortgage Bankers Association, ...
When does refinancing a home not make sense? Knoxville News Sentinel
Enjoy expensive collectibles like watches and cars, just don't make them part of your investment strategy.
Housing market sees dramatic uptick, Ellie Mae CEO says Fox Business
Mortgage rates are steadily moving lower as home-price gains are seeing their weakest pace in seven years.
Housing Market May Be Slowing Based On Qualification Stigma ETF Trends
According to a recent Fannie Mae survey, the majority of consumers now think it is much harder to qualify for a home loan.
The Daily Shot: The Slump in U.S. Male Labor Force Participation Stands Out Wall Street Journal
To receive the Daily Shot newsletter in your inbox, please sign up at our Email Center. Previous issues of the Daily Shot are available online at ...
Mortgage refinance boom goes bust as rates shift higher CNBC
A turnaround in interest rates turned borrowers back on their heels last week, deflating a quick boom in refinance demand.
Title insurer exposes millions of mortgage records in data breach Bankrate.com
The nation's largest title insurance company exposed personal information and data from hundreds of millions of mortgage documents going back to 2003, ...
Home Equity Loan Site Receives Top Honor from TopConsumerReviews.com STL.News
OVERLAND PARK, KAN./ JUNE 13, 2019 (STL.News) TopConsumerReviews.com recently awarded their highest five-star rating to LendingTree, an industry.
Homeowners should turn themselves into real estate investors | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
Homeowners should turn themselves into real estate investors | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
If you've ever been tempted by real estate investing, now might be the perfect time to turn your dream into reality. Because the factors that can lead to success ...
Mortgage REITs, Docusign Earnings, and Some Important Terms to Know Motley Fool
Here's why Docusign dropped after earnings, and what investors should know before investing in high-yielding mortgage REITs.
Mortgage rates are low. Here's how to figure out if you should refinance NBC News
Low mortgage rates have many people thinking about buying a new home or refinancing their current mortgage.
Here Are Best And Worst Reasons To Refinance Your Mortgage Bankrate.com
Whether you've owned your home for a short time or you've had your mortgage a bit longer, a mortgage refinance involves careful consideration. After all, you'll ...
Mortgage refinancing spree becomes a race against the clock Bankrate.com
Some 2.43 million homeowners can reduce their mortgage interest rate by refinancing, according to a recent mortgage report by Black Knight, a mortgage data ...
Mortgage credit availability increased last month Mortgage Professional America
There was a further rise in the Mortgage Credit Availability Index (MCAI) in May as the jumbo sector posted another increase. The Mortgage Bankers ...
5 Signs It's Time To Refinance Your Mortgage Forbes
You've probably heard that refinancing your mortgage can save you money. While that's true in many cases, refinancing needs be done at the right time in order ...
Confidence in the US housing market grows Miami Agent magazine
Two recent measures of Americans' confidence in the national housing market improved in the last month, showing that more homeowners as well as ...
Tips to help you in the assessment of a refinanced mortgage Sydney Morning Herald
A loan taken out two or three years ago was based upon different metrics and lender requirements and you will need to meet new criteria.
What to consider before determining whether to refinance your mortgage Washington Post
REAL ESTATE MATTERS | For a home-run refinance, try to find a deal that helps you do these four things: lower your interest rate, shorten your loan term, lower ...
Refinance Your Mortgage Quickly: Prequalify in Just 3 Minutes Credible News
Let us do the heavy lifting for you. Compare rates from multiple lenders with no impact to your credit score. Refinance your mortgage with peace of mind.
Refinance mortgage rate moves higher for Wednesday Bankrate.com
Refinance rates were mixed, but one key rate were higher. See what that means for you if you're in the market for a mortgage.
Refinance mortgage rates mixed for Monday Bankrate.com
Refinance rates were mixed today. If you haven't locked a refi yet, see how your future mortgage payments could be affected.
Refinance mortgage rate ticks higher for Saturday Bankrate.com
Refinance rates were mixed, but one key rate increased. If you're shopping for a mortgage, see how your payments might be affected.
Mortgage refinance checklist: what you need to refinance your home | Mortgage Rates, Mortgage News and Strategy - The Mortgage Reports
Mortgage refinance checklist: what you need to refinance your home | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports
This handy mortgage refinance checklist tells you what you need to do before refinancing. Get your paperwork in order and know your refinance goals to speed ...
Fed’s Beige Book says economy improved in late spring, grew at ‘modest pace’ Bankrate.com
The U.S. economy picked back up in May, and the outlook remained fairly upbeat, even though trade tensions caused uncertainty for retailers and manufacturers ...
Refinance mortgage rates mixed for Thursday Bankrate.com
Multiple benchmark refinance rates were flat today. If you're in the market for a mortgage, see how your payments might be affected.
Mortgage refinance applications hit 18-year low CNBC
Mortgage refinance applications hit an 18-year low. With no major move in interest rates and continued weakness in home affordability, there was not a lot of ...
Cash-out mortgage refinancing: Here’s where homeowners are using it most Bankrate.com
Homeowners who snagged a low-interest mortgage in recent years generally avoid refinancing the loan because interest rates are higher now. When they need ...
Mortgage rates are low. Here's how to figure out the best plan for your budget CNBC
The recent drop in mortgage rates may have you dreaming of buying a new home or refinancing your current house. But first, you need a plan.
Can You Use a Mortgage Refinance to Pay Down Debt? The Motley Fool
Find out if you can use a mortgage refinance loan to pay down debt -- and if it's a good idea to do so.