Since the Dodd-Frank Act passed in July 2010, lenders have been scrambling to comply with provisions of the various financial reforms... Read More >>
While the Fed touts the second round of its Quantitative Easing (QE2) program as a way to lower mortgage rates for homeowners... Read More >>
What is QE2? It's not the luxury cruise ship -- it stands for "quantitative easing," and it refers to the second round... Read More >>
Mortgage rates are at historic lows, and you've finally decided that now is the time to refinance your home. The most critical... Read More >>
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Refinancing a mortgage is when a homeowner takes out a new mortgage to pay off an existing mortgage.
A home equity loan allows a homeowner to borrow money using their property as security.
Unsecured debt may be an expensive way to finance purchases--because the lender has no collateral, interest rates can be high, in some cases over 25%.
A second mortgage, by definition, is any loan that creates a second lien on a homeowner's property.
Home improvement loans can take several forms, each ideally suited to different borrowers' lifestyle and financial plans.
Adjustable rate mortgages (ARMs), move with prevailing financial market conditions, with interest rates that reset or "adjust" periodically over the life of the loan.
A new home loan is the first loan the buyer takes out to pay for a new property, not just the mortgage a first-time home buyer takes out.
A reverse mortgage (also called a home equity conversion mortgage) is an arrangement in which homeowners cash in their home equity and receive a lump sum or series of payments from the lender.