Mortgages Blog

Tuesday, March 29, 2011 7:04 am
By Holden Lewis · Bankrate.com

To get a mortgage with the lowest rate and fees, you’ll have to make a 20 percent down payment if you’re buying the house or have at least 25 percent equity if you’re refinancing. And forget getting a good mortgage deal if you’ve been two months late on a credit card or car payment or

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Monday, March 28, 2011 9:00 am
By Jay MacDonald · Bankrate.com

I blinked twice at the figure: 638 days. That’s the average time it takes from an initial missed mortgage payment for the bank to complete foreclosure proceedings and change the locks here in Florida, the Foreclosure State. Nearly two years of free rent. Then, of course, the boot. We don’t top the latest list of

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Thursday, March 24, 2011 2:39 pm
By Marcie Geffner · Bankrate.com

U.S. home sales and prices are on a downward slide. Sales of existing homes dropped 9.6 percent in February to a seasonally adjusted annualized rate of 4.88 million units, a pace that’s slowed 2.8 percent compared with the 5.02 million level recorded a year earlier, according to the National Association of Realtors, or NAR. An annual

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Thursday, March 17, 2011 2:03 pm
By Marcie Geffner · Bankrate.com

Should homebuyers be required to make a down payment of at least 20 percent of a home’s purchase price to qualify for a mortgage? That’s a question some Bankrate readers tackled when presented with the prospect of such a requirement on certain loans to be known as “qualified residential mortgages,” or QRMs. Here’s what the readers

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Monday, March 14, 2011 10:00 am
By Jay MacDonald · Bankrate.com

You know the old saying, “A rising tide lifts all boats?” Well, apparently the reverse is also true, at least for some property owners who opted for a short sale to avoid foreclosure. Through no fault of their own, their credit report now includes a foreclosure that never was. You’ve heard this litany before: When

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Tags: Mortgages
Thursday, March 10, 2011 9:23 am
By Marcie Geffner · Bankrate.com

Realty brokers are quick to observe that in today’s housing markets, “Cash is king.” In fact, given the rise in the proportion of all-cash home purchases, it might be fair to say cash is not only king, but the whole royal family. During the housing boom, buyers wanted no-money-down mortgages, which allowed them to buy

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Tuesday, March 8, 2011 9:19 am
By Marcie Geffner · Bankrate.com

Mortgage interest rates peaked about month ago and have been on a downward trend since then. This week, rates may flatten out as investors weigh the latest economic data and try to suss out whether the recovery is in fact faltering or picking up steam. Here’s a recap of the numbers: The Bureau of Labor

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Monday, March 7, 2011 9:24 am
By Marcie Geffner · Bankrate.com

Should homebuyers be required to make a down payment of at least 20 percent of a home’s purchase price to qualify for a mortgage? That’s a hot topic in a current debate about the federal government’s soon-to-be-issued official definition of a “qualified residential mortgage” or “QRM.” Once the definition and the risk-retention rule that requires

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Friday, March 4, 2011 10:11 am
By Marcie Geffner · Bankrate.com

Home prices have dropped and mortgage rates are still low, yet housing costs continue to become more and more burdensome for many working households, according to “Housing Landscape 2011,” a study from the Center for Housing Policy in Washington, D.C. The report defines “working households” as those in which household members work at least 20

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Wednesday, March 2, 2011 11:38 am
By Marcie Geffner · Bankrate.com

Hey, does anyone want to buy a house? Anyone? Anyone? No? Perhaps not. Home sales haven’t exactly fallen off a cliff at an annualized pace of 5.36 million so far this year, according to the National Association of Realtors. But nor are houses flying off the shelves, or rather, out of the multiple-listing services. The

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