News on Home Financing

Great Wolf to offer $225M of mortgage notes

2010-03-19T14:30:36Z

<div id="subtitle">Great Wolf to offer $225 million of mortgage notes</div><div><p>Indoor waterpark resort company Great Wolf Resorts Inc. said Friday it plans to offer $225 million of first mortgage notes due 2017.</p><p>The company plans to use the proceeds to repay mortgage debt totaling $212 million. It will use the rest, if any, for general corporate purposes.</p><p>...

Mortgage scammers havenÕt felt lawÕs effect

2010-03-19T02:17:53Z

<div><p> Compliance with a new law aimed at regulating mortgage modification and foreclosure prevention, a runaway industry rife with scammers, is off to a slow start, causing concern for those on the front lines.</p><p>Only 50 companies statewide have applied for the states new licenses for loan modification and foreclosure consultant services. That number represents as little as one-tenth of the businesses offering one or both of the services targeted by the new law, sa...

Fed's emergency loans decline in past week

2010-03-18T15:01:29Z

<div id="subtitle">Banks reduce their borrowing by average of $2.24 billion from Fed's emergency loan program</div><div><p>Banks borrowed less from the Federal Reserve's emergency lending program over the past week in a further sign that the strains from the financial crisis are fading.</p><p>The Fed reported Thursday that daily borrowing from its emergency loan program averaged $11.49 bil...

Mortgage rates still below 5 percent

2010-03-18T08:31:20Z

<div id="subtitle">Rates on 30-year mortgages edge up, but remain below 5 percent as Fed prepares exit</div><div><p>Mortgage rates held below the 5 percent threshold for the third straight week as the Federal Reserve prepares to end a program that has kept rates at or near record lows.</p><p>The average rate on a 30-year fixed rate mortgage edged up to 4.96 percent this week from 4.95 perc...

Calif. politics has short sellers facing big bills

2010-03-17T15:45:19Z

<div id="subtitle">Californians losing their homes face big tax bills unless Schwarzenegger, lawmakers compromise</div><div><p>What should have been a legislative afterthought is threatening to become a financial purgatory for thousands of California taxpayers hit by the housing crisis.</p><p>With less than a month until tax filings are due, struggling Californians who received mortgage modifications or lost ...

The Risks Associated With a Home Equity Line of Credit

2010-03-16T23:55:30Z

<b>Definition of Terms</b><br><br>To fully understand what a home equity line of credit or a HELOC is, you need to chunk this into two terms: home equity and line of credit.<br><br>* Home equity - is the market value of your home less the total amount of debts that are associated with or registered to it.<br><br>* Line of credit - also referred to as a credit line, it is an arrangement wherein a bank or a lender extends a specified amount of cre...

When to Start Shopping For Bad Credit Mortgage Loans

2010-03-16T23:38:29Z

In today's credit market, perhaps the most important thing to have is a good, blemish-free credit history. With such a reputation, you can practically get all the loans you want, with enough freedom to negotiate on your terms , such as the mortgage rate - Toronto or elsewhere.<br><br>But the truth is, aspiring for a straight-A credit history is hard enough, let alone actually having one. With the number of things to attend to and finan...

How to Qualify For 100% Financing

2010-03-16T23:33:10Z

What is 100% financing? What are the stakes involved in this kind of loan?<br><br>A 100% financing mortgage loan is one that allows you to purchase a home without making a down payment. You ask why this is possible? It's, simple...<br><br>With a 100% financing mortgage, you are allowed to cash out your home equity - the value of your home less the debts attached to it. In this sense, you are actually trying to make use of the money that's attached to your home. It is b...

Fed holds rates at record lows to foster recovery

2010-03-16T15:15:40Z

<div id="subtitle">Fed holds rates at record lows to foster recovery; view of economy slightly more upbeat</div><div><p>The Federal Reserve on Tuesday repeated its pledge to hold interest rates at record lows to foster the economic recovery and ease high unemployment.</p><p>But the Fed's assessment of the economy at its meeting Tuesday was a bit more upbeat. It said the job market is stabi...

5 Great Reasons to Finance With an FHA Mortgage!

2010-03-16T20:21:20Z

FHA mortgages are great for people looking to purchase a home and current homeowners who want to refinance their mortgages. With all of the advantages this type of loan offers, borrowers can finance their homes and save money in the process! A low down payment requirement and competitive rates leave borrowers with more money to spend on other expenses.<br><br>Easy to Qualify<br><br>The U.S. military. It is an exclusive benefit available to them in return for their service to this country. This type of financing is known for its great rates, flexible loan requirements and easy qualific...

Bad Credit Home Refinancing ? Your Answer to Repay Mortgage When Credit Rating Goes Bad

2010-03-16T04:41:08Z

Now a day, it is very common that out of worsening economic condition people are not able to pay back their loans and are landing in bad credit situation. These may be the result of losing their jobs recently or loss in their business due to prevailing situation. And there are many people out there, who really wants to pay back their loans, however they themselves are in a financial turmoil. This not only make them as defaulters, but reduce their credit ratings too. If you are in one of those...

Tips on Paying and Reducing Monthly Mortgage Payment

2010-03-15T19:53:02Z

The monthly mortgage payment is one of the most expensive debts most of us pay each month. Unfortunately, the recent housing and economic crisis has left many homeowners struggling to keep up with their mortgage payments. If you are on a tight budget, there a number of ways you can reduce your monthly mortgage payments and alleviate the overwhelming financial stress. Below are a number of tips on paying and reducing monthly mortgage payments.<br><br>1. To counter the effects of th...

Saving Money on a Home Loan

2010-03-15T01:48:52Z

Nobody with a mortgage needs to be reminded that the home loan is the most expensive part of the typical family?s living costs today. Increasingly, they consume a huge percentage of the family budget. In some cities such as Sydney, Brisbane, Melbourne and Perth, as well as regional centre...

Obtain Low VA Mortgage Rates and Save Money!

2010-03-13T12:54:51Z

VA mortgages are a great financing option for both first time homebuyers and current homeowners. These types of loans have multiple benefits, including no down payment on purchases and no mortgage insurance. The absence of these costs, which are required on most mortgages today, saves borrowers money for their other expenses. Borrowers can also save money because this type of financing tends to have lower interest rates than other types of home loans.<br><br>Why Low Rates are Bene...

Reverse Mortgages For Seniors Offer Financial Independence

2010-03-13T11:41:02Z

As the cost of living rises in 2010, a larger number of older homeowners are looking for a financial solution that allows them to remain in their home and still have available money at their disposal. Often, an older homeowner's basic living expenses will exceed the income he or she receives after retirement, such as social security benefits. The cost of healthcare, often a necessity for older Americans, is also rising and is not always completely covered by health insurance or government aid...

FHA Streamline Refinance Saves Money!

2010-03-13T11:01:45Z

An FHA streamline refinance has multiple benefits for homeowners who want to refinance their current FHA mortgages. One of these benefits includes a lower interest rate. A lower interest rate, along with the other benefits of the loan, will save homeowners money that they can use to pay off other debt or to pay for other expenses.<br><br>What is an FHA Streamline Refinance?<br><br>The purpose of this type of financing is to lower a homeowner's interest rate on his or h...

Treasury says 1 million homeowners in loan modifications

2010-03-12T11:45:35Z

<div><p>WASHINGTON (Reuters) - An Obama administration program to help struggling homeowners modify their mortgages has more than one million active borrowers, though fewer than 10 percent have obtained permanent loan modifications, according to a Treasury Department repo...

UK home loans fall by half in January

2010-03-12T02:30:15Z

<div id="subtitle">UK lenders say home mortgage business fell by half in January</div><div><p>The value of home mortgage advances in January fell by half from December, when there was a late rush to complete deals before a tax break ended at the New Year, the Council of Mortgage Lenders said Friday.</p><p>The value of home mortgages in January was 4.7 billion pounds ($7...

Get the Best St Louis Home Loan With These 5 Smart Home Buying Tips

2010-03-12T05:42:15Z

Although the St. Louis mortgage and real estate market has drastically changed over the last 18 months, there are ways that consumers can avoid or at least minimize the home buying stress factor.<br><br>The following five simple yet ingenious tactics will help in making your St. Louis home loan and home buying experience a better one that will yield positive results.<br><br>1. Apply for your home loan as early as possib...