Mortgage Guide 101 Blog

May 2007 - Posts

If you live in a large North American city, you've likely become accustomed to seeing street signs in different languages. It's an indication of our multi-cultural landscape. Well, get ready because the banking industry is taking yet another step towards Read More...
Posted on May 28,2007

Are you one of many who are trying to sell a home, and having a hard time? It might be time to turn to St. Joseph, according to an article in the New York Times. Now, I'm a born and raised Catholic, and I knew that St. Joseph was the patron saint of Read More...
Posted on May 28,2007

In the subprime sector, as the financial woes increased, a number of things happened: 1) lenders and lending units were sold, and consolidated, then 2) lenders started going bankrupt, then 3) subprime loan dollars dried up.There are signs that this same Read More...
Posted on May 23,2007

Now that Bank Of America has really upped the ante with a "no fees" mortgage loan, how is the competition going to react? With a lot of creativity, according to an article on CNN Money. Washington Mutual has now launched a mortgage that allows the Read More...
Posted on May 22,2007

According to an article on Realty Times, mortgage fraud grew last year by an astounding 30 percent. The Mortgage Asset Research Institute claims that not only has the incidence of the crime gone up so much, it is also spreading across the US. The Read More...
Posted on May 18,2007

Is this your dream? Have you been thinking about paying pennies on the dollar for homes in foreclosure and then making a mint on reselling? Perhaps you are a fan of James Odell Barnes who is doing full time work on finding foreclosures for a group of Read More...
Posted on May 17,2007

Here's a story I couldn't find in a "big media" outlet, but people should be screaming about: according to an article by the OC Register, there are signs that not all is well with borrowers who have credit risk scores just above the subprime level. This Read More...
Posted on May 14,2007

There were a lot of worthwhile submissions to the latest Problogger writing project. The entire list of participants was an astonishing 893 entries! From these quality submissions, I've culled out those relating to mortgage, homes and renovating, real Read More...
Posted on May 12,2007

Too good to be true? Many are wondering this, after Bank of America announced on Tuesday that it would offer a "no fee" mortgage loan. According to an article in the Baltimore Sun, this mortgage gets rid of a whole host of traditional fees and charges, Read More...
Posted on May 11,2007

Darren Rowse of ProBlogger is running another interesting writing project -- write on "Top 5". With the topic of mortgages, this is an easy one.  We all just assume that we will be paying a mortgage forever, and we don't even count it when we think about Read More...
Posted on May 9,2007

If you are trying to buy a home with a less than stellar credit rating or no money down, you better be sure of your financing! Housing values are falling, and 100% mortgages are falling out of favour. Lending practices are tightening and creditors in the Read More...
Posted on May 7,2007

Robert Hruzek of Middle Zone Musings "tagged" me to participate in his writing project. Well, Bob -- this one's for you! And we'll still talk about mortgage loans if that's okay with everyone.What I learned from taking out the garbage is that most of Read More...
Posted on May 6,2007

While the television news might ignor this story in favour of a more dramatic soundbite, did you know that the 30-year fixed-rate mortgage (FRM) is actually less in 2007 than in 2006? According to an article on Realty Times, the interest rate on a Read More...
Posted on May 4,2007

Mortgage loans need to be made more simple and straightforward. However, in an effort to be competitive, mortgage lenders tend to load the consumer up with a lot of features. The end result is information overload for the borrower. It makes it harder to Read More...
Posted on May 2,2007
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