» mortgage

Many unemployed Americans are finding their mortgage payments must continue after their employment has ended. Few people are able to keep up with their mortgage payments after they have lost a job. Unemployment benefits will help, but if you run out of unemployment benefits before you find your next job the situation can get pretty desperate to say the least. However, there are several things you can do to help your state of affairs.

Purchase insurance

If you have the opportunity in advance, buy insurance. Several companies sell insurance for anyone unlucky enough to find themselves unemployed. These insurance companies sell mortgage protection as part of their policy. Home builders will offer some property… » Read more

The housing market is reaching record low interest rates according to Freddie Mac’s weekly market survey. With the average 30 year mortgage falling from 4.32% to 4.15% and borrowers are experiencing an average point of .07%. The average fixed rates for 15 year mortgages is 3.36% and the average points .06% for borrowers making the current rates the lowest borrowers have experienced in over 50 years, according to the chief economist and vice president of Freddie Mac.

The current interest rates for mortgages should be a great thing for the housing market, correct? Well not exactly. The problem is that the presently low interest rate in the housing market is an… » Read more

Any home buyer that is fortunate enough to take advantage of the current mortgage loan rates is lucky indeed. The current rates are the lowest banks have offered to homeowners in the last 60 years. Literally thousands of dollars are being saved over the entire mortgage life.

The rate is less than 4.5% for a 30 year fixed mortgage rate. However, only home buyers that have extremely good credit are able to take advantage. One thing the media is not sharing when they tell the public about the record setting mortgage rates is the down payment needed to take advantage of these great mortgage rates.  Along with great credit the down payments for these low rates is usually 20% or more to qualify.

Based on analysis of FICO… » Read more