Home Loans

One Important Thing to Consider Before Taking Out a Home Equity Loan

There are several things to think about before taking out a home equity loan, but among the most important is to consider is what the loan will be used for. “The best reason to take out a home equity loan

Home Prices Spike in Nine States

CoreLogic confirmed on Tuesday that its Home Price Index was up 0.3 percent in August from the month before and up 6.4 percent from the same time last year. In addition, it revealed that housing prices had spiked to new

Refinancing Remains Tough in Current Housing Market

Ben S. Bernanke, former chairman of the Federal Reserve, revealed that attempting to refinance a home loan continues to be so difficult in the current market that even he got turned down from a refi request recently. “I recently tried

Foreclosure Inventory on Pace to Hit New Low

A Mortgage News Daily reports, CoreLogic has found that the trend in foreclosures is a positive one for the real estate market: they’re going down. “The number of foreclosures completed during the last 12 months is at the lowest level

California Seeing Diminished Mortgage Borrowing Among Hispanics

Bloomberg News is reporting that the number of Hispanic borrowers in California continues to decline, even more so than any other group in the state. “The interest rates are low, but the prices are so high,” says Jose Ramos, a

Flagstar Bank ‘Drove Borrowers into Foreclosure’

The Consumer Financial Protection Bureau announced on Monday that Flagstar Bank “drove borrowers into foreclosure” by holding back important documents. According to CNN Money, the bank was severely understaffed, and for documents that should have taken just days to file,

Financial Advisors Warn Against Reverse Mortgages

Reverse mortgages can make a lot of sense for many people. They allow homeowners to borrow money against the value of their homes, and the funds don’t need to be repaid until the individuals move. Financial advisors, however, continue to

Millennials Not Buying, But Would Like To

Millennials – the generation of adults currently between the ages of 18 and 34 – are purchasing homes at a much lower rate than previous generations. A new study, however, shows that although they are not buying now, they would

Experts: Lock Now, As Mortgage Rates Back Down

Mortgage rates are back in line with recent lows and averaging out at 4.125%, Mortgage News Daily is reporting. Experts advise locking in on a rate now. “I’m cautiously optimistic that we are about to break back into the long

Nearly 1 Million Homeowners Experienced Equity Gains in Second Quarter

In the second quarter of 2012, as many as 950,000 homes saw a positive equity gain. This puts homeowner equity $1 trillion ahead of where it was at this time last year. “Many homeowners across the country are seeing the

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