Monthly Archives: June 2008

PMI ARM FAQs

Julie Garton-Good writes in her 2008 book "All About Mortgages" that PMI (private mortgage insurance) can allow you to buy a more expensive home (by as much as 40%). The cost is usually less than .5% of the loan amount. … Continue reading

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Giving Gifts To Mortgage Debtors

From Barrons: President Bush issued his usual proclamation making June National Homeownership Month, dedicated as usual to the extension of homeownership to every American with a pulse or a FICO credit score. Both houses of Congress concurred. More tangibly, the … Continue reading

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Congressional Help For Homeowners

From the WSJ: Congress is expected to pass legislation in coming days that could help hundreds of thousands of homeowners refinance into mortgages backed by the Federal Housing Administration — if their lenders agree to forgive part of the loan … Continue reading

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Tackling Inflation

From New York Times: The Swiss-based BIS — a meeting place and think tank for the world’s central banks — gave a gloomy outlook for both inflation and growth in its annual report, published after a three-day meeting of central … Continue reading

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Reducing The Cost Of Home Ownership

From Black Enterprise.com: Tip 1: Consider refinancing. If your adjustable-rate mortgage reset at a high interest rate, note that average rates for 30-year fixed conforming loans are now around 6%. As a starting point use the refinance calculator on Bankrate.com … Continue reading

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I’m Live On My Refinance Cam!

Click here to join the fun! TammyYoungblood:  I’m a bit confused Emma:  Oh? TammyYoungblood:  Thinking of converting to Judaism, but I can’t find a rabbi to baptize me into the faith. Emma:  Whoa.. I have no idea Emma:  What relgion … Continue reading

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PMI & Refinance

From the Washington Times: I recently applied to refinance my ]adjustable-rate mortgage to a fixed rate. My mortgage balance is about $348,000. Is there anything that can be done if I want to fix my ARM to avoid paying private … Continue reading

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How Important Is Home Ownership?

From newsobserver.com: Homeownership isn’t revered nowadays There were two letters in Sunday’s Work&Money section asking about private mortgage insurance and foreclosures. I have a couple of simple answers to very complicated questions. The first question was: Why didn’t private mortgage … Continue reading

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Time To Refinance?

From thestreet.com: Refinancing a mortgage involves closing costs, just like any other mortgage. Before you refinance, you need to know how long it will take for the savings from the lower monthly payments on your new loan to compensate you … Continue reading

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The Short Sale

From the Washington Post, June 15, 2008: Here’s what’s really happening with short sales: All too often, they fall short of the finish line. A short sale means a sale that falls short of the amount owed on the mortgage. … Continue reading

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