Secondary financing obtained by a borrower. They can be fixed in amount or take the form of a Home Equity Line of Credit, which is simply a revolving credit line secured by a house.Homeowners use these forms of financing to consolidate bills, do home renovations, put their kids through college, etc. They are tapping into the equity they have in the... : Second Mortgages
When to Consider an Adjustable Rate Mortgage
An adjustable rate mortgage, or ARM, is different from a traditional fixed rate mortgage because the interest rate changes during the life of the loan in accordance with movements in the index rate. If you can take advantage of a low mortgage rate when applying for a mortgage, then a fixed rate mortgage might be the... : When to Consider an Adjustable Rate Mortgage
Mortgage Applications Fell Last Week -MBA
NEW YORK (Reuters) - Applications for home mortgages in the U.S. fell last week even as mortgage rates edged down, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage activity fell 5.7 percent to 715.0 in the week ended Nov. 19, more than offsetting a 4.3 percent gain the prior week. Fixed 30-year mortgage rates averaged 5.64 percent last week, excluding fees, down from 5.70 percent the prior week. The MBA's seasonally... : Mortgage Applications Fell Last Week -MBA
Wraparound mortgage
A second mortgage which leaves the original mortgage in place. The wraparound mortgage is held by the lending institution as security for the total mortgage debt. The borrower makes payments on both loans to the wraparound lender, who in turn makes payments on the original primary mortgage. ... : Wraparound mortgage
Risky real estate moves
Risky real estate moves Put nothing down and don't worry much about monthly payments -- what's the worst that can happen? March 7, 2005: 5:36 PM EST By Sarah Max, CNN/Money senior writer SALEM, Ore. (CNN/Money) – The American spirit of "buy now and pay later" - or never -- has been a driving force behind this unprecedented housing market. Gone are the days of saving a hefty down payment and striv... : Risky real estate moves
Dream House Mortgage Resources
Check out our great dream house mortgage information.
NEW YORK (Reuters) - Applications for U.S. home mortgages decreased last week amid a sharp drop in purchasing and refinancing activity even as mortgage rates eased, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity... : Mortgage applications decrease as rates ease
reverse annuity mortgage (RAM)
an alternative mortgage loan program in which the lender makes periodic payments to the borrower. The loan is secured by the borrower's accumulated equity in the home. This type of loan is usually taken out by an older, retired person who has substantially paid for a home, and now needs additional income to live on. The borrower receives periodic payments from the lender, or from an annuity set up with the proceed... : reverse annuity mortgage (RAM)
Mortgage applications increase last week
NEW YORK (Reuters) - Applications for U.S. home mortgages increased last week amid a robust uptick in purchasing and refinancing activity, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity increased 9.4 percent to 781.0, adding to the 0.2 gain in the previous week. "Strong support for home sales has been ... : Mortgage applications increase last week
Second Mortgages
Secondary financing obtained by a borrower. They can be fixed in amount or take the form of a Home Equity Line of Credit, which is simply a revolving credit line secured by a house.Homeowners use these forms of financing to consolidate bills, do home renovations, put their kids through college, etc. They are tapping into the equity they have in their house to use for other things.This is not necessarily a ... : Second Mortgages
Tame Consumer Price Rise Eases Fears
By Tim Ahmann WASHINGTON (Reuters) - Consumer prices inched up just 0.1 percent in January as energy prices tumbled sharply for the second straight month, according to a report on Wednesday that helped soothe recent anxiety on inflation. Excluding volatile food and energy costs, the Consumer Price Index, a widely used inflation gauge, rose 0.2 percent for a fourth straight month in January, the Labor Department sa... : Tame Consumer Price Rise Eases Fears
