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Daily Interest Mortgage Loans Are Dangerous »

Daily interest mortgage loans can cause the loss of your home.

Here Are 5 Types of Mortgages »

Adjustable Rate ARM:  This loan features a lower rate at the beginning of the loan with periodic adjustments, typically 6 months or one year, based on the moving London Interbank Offered Rate LIBOR.  Many ARM loans contained artificially low teaser rates that kicked in addition to the LIBOR reset rate.
Fixed Rate:  The most common form [...]

North Carolina Becomes First State To Ban Overcharging By Mortgage Broker »

NC Governor Mike Easely signed a law making NC the first state to ban mortgage brokers from charging borrowers for unnecessary and unneeded surcharges such as “yield spread premiums” which essentially gives a kick-back to brokers who guided borrowers into higher interest loans subprime loans – whether they need it or not. [...]

Mortgage Brokers Cost You More Money »

Mortgage brokers tend to charge more to place a loan than you would have to pay if you went directly to the lender, according to a recent HUD Study. This is not a surprise to consumer advocates but it tends to contradict the story told by mortgage brokers and their lobbyists. There’s a [...]

Alt-A Home Loan Time Bomb »

The sub prime loan crisis has caused a rapid decline in home values across the country.  This has depressed the middle class consumer and caused a cutback in many industries related to residential construction.  When consumers feel that they have less equity in their homes, they slow their discretionary purchases.  This slow down in consumer [...]

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 [...]

Congress to Address Deceptive Lender Solicitations »

Most of us receive them in the mail on a pretty regular basis – those official-looking envelopes that resemble a communication from a government agency, or our home lender, or someone else we cannot afford to ignore.  If we open the letter, it is likely to contain a solicitation for questionable financial services.
Having recently worked with a client [...]

Federal Government Investigates The Mortgage Industry »

According to the New York Times, the Federal Bureau of Investigation and the criminal division of the Internal Revenue Service have formed a task force to examine mortgages that were made with little or no proof of the earnings or assets of borrowers. Federal prosecutors in New York, Los Angeles, Philadelphia, Dallas and Atlanta [...]

Class Actions for Subprime Meltdown—How Likely? »

According to a recent article in Reuters, Many Mortgage Suits to Come, But Harder to Win, we can expect a number of class action lawsuits against those responsible for the subprime mortgage losses. Stanford Law School Professor Joseph Grundfest estimated that total investor losses resulting from the drop in stock prices and falling property values [...]

How do I check out of my hotel condo? »

Fuelling the over-heated housing market a couple of years back was real estate investing, and the result today is a condo market where units are selling for half of what people paid for them in 2005. Anyone who purchased a condominium as an investment must have realized the potential to lose money, no matter how [...]

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