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65FHA 203k Loans
FHA 203k loans solve a major problem for homebuyers. When your new dream home is a fixer-upper, getting a mortgage can be tough. Your bank won't lend the money to buy the house until the repairs are complete, and the repairs can't be done until the purchase house has been settled. FHA 203k loans were designed to address the Catch-22 that exists for buyers who need to "fix up" or renovate their property in order to make it livable. How do you pay the mortgage, pay for renovations, and pay rent,
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64Mortgage Rate Predictions
Mortgage rates predictions can't be trusted - at least, not completely - in this current uncertain economic environment. When life moved a slower pace, and when mortgages were less widespread, movements in mortgage rates predictions were much less significant than they are today.
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63The HUD FHA Insurance Fund
The HUD FHA insurance fund was established during the Great Depression, when rates of foreclosure and default rose sharply. The purpose of the fund was to protect lower income Americans from being squeezed out of the home ownership market. These days, we need it more than ever!
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55Explain Mortgage Insurance
It's easy to explain mortgage insurance - you just need to remember that mortgage insurance is not insurance for you, the borrower. Mortgage insurance exists to protect the mortgage lender. If we are to explain mortgage insurance in simple terms, compare it with something a bit more concrete - car insurance, for example, or home insurance.
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52Avoid Mortgage Foreclosures
Avoid foreclosure, because it can badly damage your credit rating. Refinancing or modifying your mortgage may get you out of trouble, or you may be able to negotiate with your lender for time to sell your property.
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49Best New Personal Finance Blogs 2008
Whether it's mortgages, interest rates, foreclosures, and refinancing, or it's credit cards, debt consolidation and credit repair, financial issues impact every one of us in different ways throughout our lives. Schools don't teach this stuff, and it can be pretty difficult to pick it up as adults, too. Blogs can help to fill the gap, because a blog post is a neat, contained piece of information about one specific topic - sort of "bite-sized" financial education, as it were.
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