Mortgages & Home Buying

Tips for finding the best loan, the dangers of home equity lines of credit and your rights as a borrower.

I Hereby Promise to Pay

The entire credit system of the country is founded upon the basic principal that people are honorable, and that they will pay their debts. However, too often creditworthy folks, who actually have the capacity to make their payments, are walking away from their promise.

Morality and Mortgages

We now know that many people and many companies in the mortgage industry have engaged in deceptive practices that defrauded millions of customers. How are consumers burned by these scams responding?

Fear and Loathing in the Housing Market

How is the current mortgage crisis causing havoc for mortgage lenders? Our expert mortgage broker talks about how fear, greed, commercialization and finger pointing are changing the real estate lending landscape.

Should You Sell Your Home or Rent It?

If you are struggling to sell your home, should you consider turning it into a rental property instead? Our mortgage industry insider shows you the pros and cons of becoming a landlord. Read about selling and renting.

Another Look at the Credit Crisis

Another Look at the Credit Crisis To what degree was the current credit crisis and subprime mortgage mess caused by a lack of awareness? Awareness in the mortgage industry or awareness with borrowers? Read more insight into the Credit Crisis.

The New Conforming Jumbo Loans

Months ago, Congress authorized FannieMae and FreddieMac to offer home loans larger than the normal loan limit of $417,000. There have been big changes to big mortgage loans lately. Get the details from our mortgage expert.

Good, Better, Best in the Mortgage Industry

Stop shopping for a mortgage as if it were a thing. Start shopping for someone who can provide a service. The service is to HELP you get the best mortgage for your family.

What Happens to Mortgage Rates When the Fed Changes Rates? Part 1

The most dangerous profession in the world is trying to predict the future. Experts don't seem to be able to do it, yet ordinary people sometimes think they can forecast interest rates. In this series of articles, our mortgage guru talks about the impact of fed rate changes on mortgage rates.

What Happens to Mortgage Rates When the Fed Changes Rates? Part 2

In this section, we'll look at the connection between bond yields and the Federal Discount Rate and how this connection impacts mortgage rates.

What Happens to Mortgage Rates When the Fed Changes Rates? Part 3

If mortgage rates are NOT correlated with the Discount Rate that is set by the Fed, what does cause them to change? In this final section, we're going to look at what mortgage rates are really tied to.

Score Suicide Warning

Consumers may be at risk for voluntarily destroying their credit histories in order to qualify for the Bush administration's new APR freeze program. Under the plan, consumers must have a credit score under 660 to receive a 5 year freeze of their mortgage rates. However, damaging your score to qualify can lead to some unexpected consequences. Read more.

Mortgage Risk Parts 1 & 2

Credit.com's mortgage expert dissects the current problems with the mortgage industry. Learn about the credit crunch and what it might mean for you.

Mortgage Risk Parts 3 & 4

The conclusion to our mortgage expert's analysis of the mortgage and credit industry crisis. Will our current mortgage problems lead to a pandemic of financial issues for America?

Making Sense of Refinancing Mortgages

Most people take advantage of a drop in interest rates to refinance, but it is also an opportunity to build more equity. Refinancing is the powerful right that you (the borrower) have to terminate the loan contract by repaying the loan whenever you wish. Learn more about refinancing from our mortgage industry insider

Making Sense of Home Equity Loans

A generation ago, home equity loans were often made by shady characters to the financially distressed. Today, second mortgages are a legitimate financial tool that can be of benefit to homeowners. Learn home equity do's and don'ts.

Home Equity: How to Build it, How to Use it

What does "home equity" really mean? How can you build it in your home and how can you make the most of it? Our mortgage guru, Randy Johnson, has the answers to all your home equity questions.

Understanding Home Equity Lines of Credit

An equityline, or HELOC as it is commonly known, is a line of credit secured by a lien on your home. As with commercial lines of credit, you are allowed to draw on your line at any time just by writing a check. Learn about using HELOCs and what dangers to avoid.

Do-it-Yourself Real Estate Services

Low-cost real estate programs and for-sale-by-owner services promise dramatic savings over working with a professional. But is it really worth it to go it alone? Our mortgage expert explains why getting real estate help can be valuable.

What's in your Sock Drawer? And what Does it Mean for your Mortgage?

The objective of all mortgage shoppers is to get the best deal they can get, regardless of what shopping method they use. The question is: "What method results in the lowest overall costs for borrowers over the long term?"

Subprime Mortgage Madness

Where were the regulators during the recent subprime mortgage boom? Deciphering what has happened to the subprime lending industry and what warning signs were missed.

Mortgage Application Credit Report Fees Increase

Potential homebuyers could be charged increased fees for credit reports ordered during the mortgage underwriting process. Read more about how this "secondary-use" of credit scores could impact your next visit to the loan desk.

Big Trouble Ahead for Mortgage Borrowers?

Mortgage foreclosure rates are on the rise. What does this mean for the lending industry, the real estate market and individual borrowers? This article shows you the truth about foreclosure from the perspective of a mortgage broker.

A Great Time to Buy Real Estate?

Learn tips for investing in real estate. Is it the right time to buy a rental property? Can you get rich off of real estate? Learn the real facts from an experienced mortgage broker.

Mortgage Pre-Payment Hell

Pre-payment penalties make it expensive for consumers to refinance their mortgages and make lenders millions. This article reveals the prevalence of pre-payment penalties and shows you how to avoid them.

A New Wrinkle in Foreclosures

Rising foreclosure rates are making headlines across the country. In this article, learn how foreclosures work, what role subprime lenders are playing and what it means for the mortgage industry.

Another One Bites the Dust

The subprime mortgage business has boomed over the last few years. But is it sustainable? In this article, we explore how the suprime industry has grown and what has happed to some of its biggest players.

The Truth, The Whole Truth, and Nothing But The Truth

Is your mortgage broker lying about rates and fees? Find out how to get an honest answer from mortgage professionals and what to expect when shopping for rates.

Forbidden Fruit

Mortgage experts have been warning homebuyers of Option ARMs for several years now, yet they continue to be very popular. Maybe it's like warning people about the unhealthy food. Learn more about the forbidden fruit of the real estate world.

Understanding Real Estate Numbers

Predicting real estate market trends might seem simple given that every day you we see articles in the paper about what is happening to housing values. Unfortunately, there's no easy answer to this question. In this article we show you what real estate numbers really mean.

Being a Good Mortgage Customer

Credit.com's resident mortgage broker shares his opinions about finding good real estate professionals and develop an effective business relationship.

Understanding Defaults and Foreclosures

Have you heard the terms "default" and "foreclosure" in the news recently? These are two more words along with "bubble" and "soft landings" that are going to get a lot of press over the next few years. It might be helpful to understand more about them because they represent both pain and opportunity. Read more about what mortgage defaults mean to you.

Mortgagefraude

Mortgage fraud is more common than you would think. From borrowers lying on their applications to the behavior of unscrupulous lenders, learn more about what common types of mortgage fraud exist and how you protect yourself.

Only in California

California was once dubbed the land of "hot tubs and alfalfa spouts." In real estate, California owns most of the records for high appreciation rates and lack of affordability. California's state income is high, but the cost of the housing is even higher.

What does a Flat Yield Curve Mean to You?

If you read the financial section of the newspaper you will see a reference to "yield curve" all the time. What does that mean to you? Is it important? How does it affect your decision-making? These are actually important issues for homeowners and you should know more about this. Read more about yield curve today.

Are We Headed for an ARM Train Wreck

There is a potential train wreck on the financial horizon, one that's not on many people's radar. It's the date when homeowners who have ARM's, Adjustable Rate Mortgages of one kind or another, are going to face payment shock. Learn what could happen and what you can do.

Property Taxes and Your Mortgage

The rules and amount vary widely from state to state, but everyone pays property taxes. In fact, this is usually the main source of local government funding and is generally based upon the home's value. How these taxes get paid is often a source of confusion to homeowners, particularly first-time homebuyers.

Education! Education! Education!

How much do you know about real estate and mortgages? Not being educated could end up costing you thousands. Credit.com's mortgage expert, Randy Johnson, is here to help you learn about the mortgage business.

Subprime Loan Sharks

Predatory mortgage loans and refinances cost American homeowners over $9.1 billion a year. Learn how to spot the signs of abusive lending and how to protect yourself from scams in this important article.

The Beginning of the Homebuying Process

It used to be that the requirements for being a homeowner were that you had to have a job, good credit, and a down payment. First-time homebuyers concentrated on these three aspects of the process because it took a long time. Just because it is easier today, however, doesn’t mean that you shouldn’t devote energy to preparation.

Introducing Credit.com's Mortgage Expert

Randy Johnson has over 25 years of experience in the mortgage business. He has literally written the book on buying a home and he's ready to share his expertise with you!

How to Save Your Home from Foreclosure

If you are worried about being able to keep up on your house payments and close to foreclosure, you must act quickly. The longer you wait, the greater the chances are that you could lose your home, and the more expensive your options become. In this article, our real estate expert shows you how to save your home.

Mortgage Myths Part 1

Many commonly accepted beliefs about mortgages are actually myths. In this article, a mortgage expert uncovers the truth and shows you how to get the best deal on a home loan.

Mortgage Myths Part 2

The objective of refinancing your home mortgage is to reduce your monthly payments, right? Wrong! In this article, our mortgage expert shows you how to get refinancing right.

Financing Strategies for Home Sellers

Tips for selling your home in a slow real estate market. A licensed mortgage broker explains how and when to use owner financing, down payment grants and discount points.

Three Steps to a Better Mortgage Rate

Before you apply for a mortgage, there are three key things you can do to lower your rates and get a better deal. Reducing your mortgage rate by just one percent can save you thousands!

Loan Lingo

APR? FRM? Balloon-loan? It's easy to get overwhelmed by jargon while shopping for a loan. Credit.com explains the most commonly used terms and how they apply to you.

Five Questions to Ask Your Real Estate Agent

Working with a trusted real estate agent is a key part of the homebuying process. A good realtor can help you find the home of your dreams.

Mortgage Refinancing Guidelines

Refinancing your existing home mortgage can save you a lot of money if done correctly. This worksheet from our loan experts will help you figure out if now is the right time to refinance your loan.