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Archive for May 11th, 2008

What is the Difference Between My Interest Rate and the APR? »

When shopping for a mortgage loan, most consumers are concerned with the interest rate of the loan. Within the past five years, interest rates on mortgages have hit historical lows and many home loans have been made. But there is more to a mortgage loan than the interest rate and a careful shopper [...]

Jose Canseco Weighs His Foreclosure Options »

Lifetime batting average: .266
Home Runs: [...]

Loan Modification, It Does Happen »

Workouts for borrowers with defaulted home loans are a reality.  Unfortunately, it appears to be the small, specialized sub-prime loan servicers that understand the problem and have figured out how to best solve it.  Large lenders have yet to establish procedures for handing defaulted loans quickly and efficiently without resorting to foreclosure.
In an article I [...]