Ar_home_b_search
 



equity: Mortgage walk-aways poised to accelerate - 09/16/10 10:33 PM
It appears relative calm has descended on the long-suffering housing market, especially when it comes to price movement. For months now home values have shown signs of stability, and even moderate increases in some areas. Real estate observers of course like to see that but are generally unconvinced that a sustainable real estate recovery is imminent. Too many hazards remain in its way, among them the still notable oversupply, a weak job market and the potential of many more mortgage walk-aways.
Yes, that walk-away - a term that has finessed its way into today's popular real estate vocabulary - where a … (12 comments)

equity: Is it time to refinance? - 04/27/07 04:51 PM
It very well may be. The most urgent reason to do so is if the homeowner has an adjustable rate mortgage, or an ARM, and it's about to reset upward. That way the payments can be kept from changing too much or not at all. To cash out some of the built-up equity for a home improvement project or something else could be another good reason to do it. And there still are older loans with high interest rates that could benefit from today's low levels.
There are a few things that need to be taken into account, though. Is there a prepayment penalty … (0 comments)

equity: New mortgage product. - 04/26/07 02:17 PM
Good news at last. It took a while. The last several weeks have been tough. The real estate headlines just about everywhere have oozed with subprime troubles this and foreclosure that and home values are dropping and so on. Followed by long and dark narratives about new regulations and who is to be blamed for what. Now the beam of light is shining on a new home loan program from Washington Mutual. At least for the time being.
It's called Mortgage Plus. People who are looking for more flexibility and control are going to be dancing in the streets. It actually combines a … (0 comments)

equity: Shared equity mortgage to the rescue. - 04/23/07 01:23 PM
Despite the recent softness in the real estate market, buying a home can be a stretch for many first-time buyers and young move-uppers. Prices are relatively high in most areas and lenders are getting fussy. Shared equity mortgage could be worth a look. Let's go over some of the basics.
Normally it involves well-off parents helping out their children. But it can be anyone besides the parents. Anyway, let's say a father contributes $60,000 toward a down payment on a $300,000 house his married daughter wants purchase. His investment is 20% of the home's value. He would get that back at a future sale, … (11 comments)

equity: Silent second mortgage woes. - 04/17/07 01:47 PM
Here's another intriguing twist to the subprime saga. They just keep on coming, don't they. A silent second can be executed several different ways, but it always means that the first note holder is kept in the dark about it. That's why the term silent second.
The latest trend is that soon after a borrower settles into his house with a sparkling-new mortgage in his hand, he'd go to a lender to pull out as much of the equity as he could. Do a second mortgage or line of credit without the original lender's knowledge. It has to be done now while there still is equity. Tomorrow it could be … (2 comments)