Evaluating the Housing Bubble

If you're looking to buy a home, there are still good deals to be had. And as prices start to head downward under the pressure of more supply than demand, packages could get even better. (Remember, lenders must lend in order to stay in business.) Just be aware of what the housing market is doing, especially the market where you wish to purchase. And don't let anyone talk you into borrowing more than you can comfortably afford, even if you qualify for more. Don't get over-leveraged.

For First-Time Home Buyers

The first step to buying your dream home is to a smooth and successful first-time home purchase is to study. Gather as much information as you can about the home-buying process. The second thing you'll want to do is to take stock of your credit health.

FHA and VA Loans

The FHA was created in 1934 for the purpose of "promoting home ownership in the United States".The VA Home Loan Guaranty Program was conceived as a part of the Servicemen's Readjustment Act of 1944. The VA Loan Guaranty Service is the organization within the VA that administers the home loan program.

Foreclosure

If you have a home and a mortgage, and you're current on all of your payments, then you have no need to read this article because life is wonderful - good for you. On the other hand, it's better to have pertinent information and not need it, than to need it and not have it.

Financing Your Home Renovation

Refinance your mortgage. If you've already built up a fairly good chunk of equity in your home, this can be an excellent choice to help you fund that major renovation. And if you currently have an adjustable rate mortgage, refinancing might be an especially attractive option right now, since interest rates have begun to rise somewhat.

Forestalling the Foreclosure

Mortgage lenders have been devastated, and banking institutions have also begun to feel the heat. Business has fallen off for realtors, homebuilders, investors, home improvement stores, and just about everyone that has any stake - directly or indirectly - in real estate.

Glossary of Mortgage Loan Terms

Though by no means exhaustive, this glossary contains many basic and regularly-used terms related to the mortgage loan industry. For your convenience, more mortgage and real estate definitions are available.

How to Save BIG Money on Your Mortgage

If you have the bi-weekly mortgage, you may even have dismissed it as a scam to take your money. But you don’t need to pay a bank or anyone else to put you into a bi-weekly “conversion”. This is a concept that you can quite easily administer yourself. And it costs you nothing. All that you will actually be doing is changing slightly the way in which you make your monthly mortgage payment.

Home Equity Lines of Credit

A Home Equity Line of Credit, also known as a HELOC, is an open-ended loan that is secured by real property. Like a credit card, it is a revolving line of credit which allows the consumer to borrow only the amount that he or she needs (up to a predefined limit), pay it off and have that credit available to use again.

Home Equity Conversion Mortgage

In most cases a Home-Equity Conversion Mortgage (or HECM) is the loan that you'll likely get. More than 80 percent of all reverse mortgages issued are HECMs. They're backed by the U.S. Department of Housing and Urban Development (HUD) and insured by the Federal Housing Administration (FHA); as such, you're assured that you'll never owe more on your home than it's worth.