By the age of 16, Nefertari Nelson Williams had moved 20 times. For a decade, from the ages of six to 16, Williams and her mother spent times in residences varying from the relative safety of family members to the instability of local shelters. But she never let it show. And she never let it stop her from eventually owning her own home.
Mortgage Loans Articles
Nov, 26, 2013
Oct, 8, 2013
When people look to buy a home, they sometimes want to save money. This doesn’t mean that they buy a home that is too small for them. Rather, it means that they focus on options that will cost less money than alternatives. One pair of options for homebuyers is to get a foreclosure or distressed property.
Sep, 16, 2013
When homeowners need money, they often look for ways to cut down on expenses. For most people, their largest recurring monthly cost is their mortgage payment. Monthly mortgage loan payments can be massively expensive depending on the size and location of a borrower’s home. Naturally, this is a prime area where people want to save money. Fortunately for homeowners and mortgage loan borrowers, there are two ways to cut down their monthly payments. They can either refinance their homes or modify their mortgage.
Jul, 30, 2013
With increasing home prices and spiking interest rates — which still sit at an extremely low sub-5 percent level — it’s easy to see why some think the next Housing Bubble is upon us. But as some industry insiders told loans.org that this belief couldn’t be further from the truth. Defining a Housing Bubble Even though the phrase “Housing Bubble” still gets tossed around often, it is rarely defined in a straightforward fashion for the average person to understand.
Jul, 23, 2013
Housing prices are rising again and so are mortgage loan interest rates. However, in many parts of the country the debate on whether to rent or take the plunge and buy a home rages on. What if there was a middle road though, a place to meet in the middle between these two choices? That “place” takes the form of rent-to-own homes. These arrangements are just the thing for buyers who may not (or cannot) go the route of a traditional mortgage loan.
Jun, 11, 2013
HARP 3.0, the long fabled upgrade to HARP 2.0, is going to fail. Miserably. While it isn’t officially called HARP 3.0, the Responsible Homeowner Refinancing Act of 2013 which contains HARP’s new details, does indeed propose improvements to the second iteration of HARP, also known as HARP 2.0.
Jun, 5, 2013
HARP 3.0, the proposed upgrade to HARP 2.0, has been pushed forward by Sen. Robert Menendez (D-N.J.) and Sen. Barbara Boxer (D-Calif.) as the Responsible Homeowner Refinancing Act of 2013. It currently sits before a committee, pending rejection or progression to a Senate vote.
Apr, 12, 2013
Fifteen years ago, Renee Spears’ mother and her partner entered their local bank to refinance their home. After filling out the paperwork, the couple found that it was bank policy not to offer home loans to gay applicants. The bank requested that the couple close their accounts and go to another bank. “My mom and her partner were extremely upset and too embarrassed to go to another bank and face this rejection again,” Spears said.
Apr, 1, 2013
Getting a home is perhaps the defining feature of the American Dream. While the country has certainly seen better days, people are still buying homes and trying to build the life they want for themselves. Unfortunately, not everyone has the money to pay for a home in cash. The Great Recession gutted most people’s savings, which means most home shoppers have to borrow a home loan in order to buy a house.
Feb, 25, 2013
You need only turn on the TV and watch commercials about reverse mortgages, retirement homes, cell phones with large buttons, and electric wheelchairs to realize that the Baby Boomers are retiring. While this will surely be a gradual process, it still begs the question of what does this mean for the housing industry. When our economy starts to shoulder the wave of impending Baby Boomer retirements, many young adult home loan borrowers think they will see a housing market that turns in their favor. Others fear that market might turn against them.