HELOCs Are Resetting and Rates Are Rising: Here’s What Homeowners Should Do

gerenme/iStock; realtor.com “Your HELOC is resetting” is a phrase you might be hearing a lot these days, and it sounds like something that might send your spaceship off its trajectory. But, if you’re not careful, it’s actually something that could send your budget off course. The financial field is experiencing a perfect storm as multitudes […]

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What Is a Mortgage Broker? Welcome to Your Personal Home Loan Shopper

daizuoxin/iStock What is a mortgage broker? In a nutshell, this professional helps you find the best mortgage by shopping all the options at your disposal. This can be a huge plus if you’re feeling overwhelmed by the mortgage process and can’t tell which loan is right for you. However, mortgage brokers aren’t ideal for everyone, so it’s good to learn what these […]

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Homeowners Are Again Pocketing Cash as They Refinance Properties

Associated Press Americans refinancing their mortgages are taking cash out in the process at levels not seen since the financial crisis. Nearly half of borrowers who refinanced their homes in the first quarter chose the cash-out option, according to data released this week by Freddie Mac. That is the highest level since the fourth quarter […]

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What Is a Cash-Out Refinance? Get a Stack of Cash From Your Home Equity

Kuzma/iStock Need a large chunk of change to start a business, pay down debt, or finance your child’s college tuition? If your home value has increased, one option is to use a cash-out refinance. Anything that talks about “cashing out” sure sounds good, right? But before you sign up, let’s discuss the cash-out refinance rules—and the […]

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This Is What Homeowners Did With Their Savings on Variable Mortgage Rates

Joe Raedle/Getty Images Getting an adjustable-rate mortgage can save homeowners money — but whether they actual put those funds to good use is another question. Homeowners whose mortgage payments dropped when their adjustable-rate mortgage (ARM) reset to a lower rate increased their spending, according to a report released this week from the JPMorgan Chase Institute. […]

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Policy Makers Work to Prevent Housing Bubble in Canada’s Biggest Cities

Carlos Osorio/Toronto Star via Getty Images OTTAWA—Canada’s finance minister is pushing other levels of government to take steps to curb immoderate activity in Toronto’s real-estate market, as worries about a possible housing bubble mount. In letters sent this week to the Toronto mayor and to Ontario’s finance minister, Bill Morneau said he was concerned that […]

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New-Home Sales Roar to a 7-Month High 592,000 Annual Rate in February

PAUL J. RICHARDS/AFP/GettyImages Sales of newly constructed homes powered to the highest pace in seven months in February as firm demand for housing outweighed lean supply and slightly higher mortgage rates. New-home sales ran at a seasonally adjusted annual rate of 592,000, the Commerce Department said Thursday. That was 6.1% higher than in January and […]

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What Is a Mortgage? Your Go-To Guide to Getting a Home Loan

ArtemSam/iStock If you’re a newbie home buyer, you may be confused by what you need to do to snag a mortgage. We’re here to help! So let’s start with the basics: What exactly is a mortgage? Since you probably don’t have hundreds of thousands of dollars lying around, a mortgage is a loan that enables you […]

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Mortgage Rates! They can be misleading!!!

I thought I would share this article with you about mortgage rates.  After spending over a decade as a mortgage loan officer, rates can become overwhelming with all the “we have low rates” advertisements….hope you enjoy the article.   Original article written by Jonathan Smoke with Realtor.com We are bombarded by info about mortgage rates. […]

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