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Like It Or Not “Cash-In” Refinancing Is All The Rage

If you own a home and/or know someone who owns a home, you have most likely heard of a cash-out refinance. During the economic and housing boom in the early part of the decade, cash-out refinances were all the rage and fueled consumer spending. Fast forward to the present and check out these recent news headlines. “Cash-In [...]

Why Is Your Mortgage Approval Contingent On Form 4506-T

If you are in need of a mortgage, there is one document that could stop you in your tracks. It is IRS Form 4506-T. What exactly is Form 4506-T? Form 4506-T, aka. Request for Transcript of Tax Return, allows lending institutions to validate your income by confirming with the Internal Revenue Service (IRS) that you [...]

New Homes Sales Gain in June, But What Does It Mean

June's New Home Sales data is a major improvement over May, but gains are relative. It's possible that the true "new home market" may be softer than the statistics suggest.

What’s Ahead for Mortgage Rates This Week: July 26th

Mortgage rates rose last week, but only slightly. Rate are still hovering near their lowest levels of all-time.

Existing Home Sales Drop But Move Up Buyers Rise In June

Consistent with most post-home buyer tax credit housing news, Existing Home Sales eased lower last month. The 5 percent drop in sales was expected, but a closer look at the month's data reveals some interesting trends.

You Can Still Get A Mortgage If You’re Pregnant – No Kidding

The New York Times ran an important story this week concerning pregnancy and mortgage approvals. Titled "Need a Mortgage? Don't Get Pregnant", the article discussed the difficulties that expecting and recently-expanded families are having with their mortgage financing.

June Housing Starts Ease But 7x Better Than Headline Data

Single-family Housing Starts eased lower last month, falling by 0.7 percent from May, or 3,000 units nationwide.

Sagging Homebuilder Confidence Opens Door To Good Deals

Remember, it wasn't too long ago that most builders were flush with home inventory, unable to find willing buyers. To help move product at that time, builders dropped prices and offered incentives including free upgrades. If confidence continues to sag going forward, home purchase deals of that nature may return -- especially as the foreclosure market gets larger.

What’s Ahead for Mortgage Rates This Week: July 19th

Mortgage rates are artificially right now so even the slightest jolt could cause them to spike. It would be similar to what happened in June 2009 when rates rose 1.125% in just 10 days' time. Therefore, if you're shopping for a mortgage and like the rate you've been quoted, consider locking in as soon as possible.

Mortgage Rates Improve With Help of Fed Talk But Will You

At 7,333 words, the June Fed Minutes is the unabridged version of the more well-known, post-meeting press release. The corresponding press release was just 360 words. It turns out, the Fed's words are doing wonders for mortgage rates.

Steady Pace Of Foreclosures Slow Down Again In June 2010

June marks the 16th straight month the filings topped 300,000. 1 in every 411 U.S. homes received some form of notice last month with foreclosure density varying wildly from state-to-state. Like everything else in real estate, it seems, foreclosures are a local phenomenon.

Can’t Get The Lowest Mortgage Rate? Blame Fannie Mae

Conforming mortgage rates may be posting all-time lows this week, but that doesn't mean you'll be eligible for them. You may have already called your loan officer and found this out the hard way. It's because of a federally-mandated mortgage-pricing scheme known as "loan-level pricing adjustments".

Your Choice, Refinance Your ARM Or Let It Adjust Lower

If your adjustable rate mortgage is due to adjust this year, don't go rushing to replace it just yet. Your soon-to-adjust mortgage rate may actually go lower this year.

What’s Ahead for Mortgage Rates This Week: July 11th

Mortgage rates have fallen in 4 consecutive weeks and are on an extended rally that dates back to mid-April. This week, however, data returns and rates could reverse. Especially with inflation numbers are in play.

This Week In Tweets via @jkbarath for 2010-07-10

@saan1911 definitely try Saigon Noodle House on US 30 and Grant for local Vietnamese food. It's yummy. #nwindiana in reply to saan1911 # @blm03 going to be at Lincoln Park Zoo with kids; otherwise, would meet up. Try not to worry about the kids and try to have fun. lol in reply to blm03 # [...]

The Home Price Index Is Flawed, But That’s Okay Right!?!

Last week, the Case-Shiller Index reported home values up 0.8 percent across 20 tracked markets. The public-sector Federal Housing Finance Agency has reached a similar conclusion.

Pay or Save? Which Household Bills Should You Pay First?

Morning television can be "light", but as far as personal finance interviews go, this Suze Orman segment from The Today Show is loaded with practical financial planning advice.

Obama’s Right. Jobs Report Wasn’t As Bad As The Headlines

At first glance, the June jobs report looks weak but a deeper look shows something different.

What’s Ahead for Mortgage Rates This Week: July 6th

Last week -- again -- mortgage rates improved and Freddie Mac is now reporting new all-time lows on three popular, conforming loan products. Here's what's in store for *this* week.

This Week In Tweets via @jkbarath for 2010-07-03

Already a wait to get into the park for tonight's fire works. #nwindiana #Chesterton (@ Indiana Dunes State Park) http://4sq.com/cbCbJX # The Ghana vs. Uruguay shoot out was amazing. Can't believe Ghana didn't win in OT. World Cup 2010 # RT @LTBtweet: First-Time Homebuyer Credit Closing Deadline Extended to Sept 30, 2010 –> Details from [...]