Mortgage Guide 101 Blog

April 2007 - Posts

Here's a question for you: pay down the mortgage or slap that extra cash into your 401k? Build your RRSP or bump off your house debt? According to an article in the Toronto Star, you should work on becoming debt free first. Apparently, this is Read More...
Posted on April 30,2007

According to an article on MortgageNewsDaily.com, the pace of existing home sales has dropped at a faster rate than it has in 18 years. In other words, the rate of sales fell in March by 8.4 percent. This is the fastest decline in sales since January Read More...
Posted on April 27,2007

It's not just the housing market that's being affected by the subprime problems; it's also affecting the investment market. According to an article on BusinessWeek.com, mortgage funds are not as exposed to credit risk because of defaulting loans as might Read More...
Posted on April 25,2007

There are 3 kinds of insurance that's tied to mortgages. The one that many are familiar with is private or personal mortgage insurance, that lets you buy a home in the US even if you don't have a big enough downpayment to qualify for a "conventional" Read More...
Posted on April 23,2007

In an article on Realty Times, Freddie Mac states that it will buy $20 million of subprime mortgages. The intention is to help to keep the nation's foreclosure rates from escalating, and to keep the subprime crisis from becoming a full-fledged housing Read More...
Posted on April 20,2007

The California housing market is still taking a kicking; mortgage defaults are at a 10 year high, according to an article on Bizjournals.com. This is apparently the result of the combination of flat appreciation, slow sales, and mortgages that have Read More...
Posted on April 18,2007

If you are like most North Americans, you've just paid your federal income taxes. The good news is that another year's taxes are out of the way. The bad news is that the tax burden just keeps getting bigger for all of us.A study in Canada by the Fraser Read More...
Posted on April 16,2007

Well, given the day (and its foreboding connotations), I thought I'd do a bit of research into the subprime lender area and how its doing.It's not doing well. According to the Implode-O-Meter, we are now up to 56 lenders who are kaput. In today's news Read More...
Posted on April 13,2007

Many homeowners are in trouble due to higher interest rates and the recent lending practices that have put people into homes by pushing the limits of their payment capabilities. Foreclosures are on the rise, and subprime lenders are going bust. Are you Read More...
Posted on April 11,2007

If you're looking for a home and you don't have a good downpayment, there is good news for you: any mortgage insurance that you have to get (whether private or government) will now also be tax deductible. In an article on PRNewswire.com, there is good Read More...
Posted on April 10,2007

In a Realty Times article, the American Bankers Association reports that delinquencies in the home equity loan arena rose 7 percent in the fourth quarter of 2006. And what is a home equity loan? It's basically a second mortgage, and like the first Read More...
Posted on April 4,2007
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