Support Marketplace

mortgage

Pages

Why cash may be king -- for now

Jun 6, 2012
I have $30,000 and want to know where best to put it. Ultimately, I want to put it away for my three boys' futures. I want it to make something, however slowly, without risk. But, 0.4 percent? Is that really the best I can do? Joanna, Hammond, IN
Posted In: mortgage, mortgage refinance, Savings, safe savings, Personal Finance

Savings strategies after locking in a low rate

May 11, 2012
My husband and I just refinanced our house at a great rate (15-year fixed mortgage at 2.875 percent). Our house payment is low and we can afford to pay more each month. Would the best use of our money be to pay down the principal on this low-interest loan or put extra away for retirement or for our children's college fund? We have two young children and are in our late 20s/early 30s. Thanks for your help! Katie, Helena, MT
Posted In: Savings, college savings, mortgage, retirement savings

Mortgage delinquencies down

May 9, 2012
Credit reporting agency TransUnion says the percentage of people behind on their mortgages is down to its lowest level since 2009.
Posted In: Housing, mortgage

The risks of buying with no money down

May 1, 2012
I recently was accepted to grad school, and my wife and I will be moving from Michigan to New Mexico. We are having a debate as to whether we should buy a home. After I finish my degree, I would like the freedom to leave New Mexico, if necessary, without having to worry about selling a home. My wife doesn't like the idea of paying rent and getting nothing back from it. Any and all advice would be much appreciated.
Posted In: home, homeownership, rent, student loans, Graduate school, mortgage

Wells Fargo and JPMorgan report big profits

Apr 13, 2012
The two major banks beat expectations with JPMorgan reporting a $5.4 billion profit last quarter, and Wells Fargo making a $4.2 billion profit. Both said an uptick in mortgage lending helped their bottom lines.
Posted In: Wells Fargo, JPMorgan, Banks, mortgage

The trade-off: Savings vs. mortgage

Apr 3, 2012
When I look at the interest rates on various savings accounts, they are all way lower than the 4.6 percent I'm being charged on my mortgage. I do recognize my condo as providing me with a service, and my minimum payment now is actually less than the rent I was paying on a studio 4 years ago! But, if I think of the equity I gain as a sort of savings account for a future upgrade, I'm just not sure how to compare my options. The simplified thought process I currently go through is that any extra I pay on my mortgage saves me 4.6 percent in interest that I would have to pay, while that same money would only earn me maybe 2 percent in a savings account, so it is better to save 4.6 percent by never having to pay it. Am I totally off? Erin, Boston, MA
Posted In: Savings, mortgage, condo

Shooting for the stars, learning to manage debt

Mar 21, 2012
A Seattle family learns the hard way how to manage its finances.
Posted In: Seattle, family budget, mortgage, financial crisis

Mortgage settlement to be closely policed

Mar 12, 2012
The $25 billion settlement announced last month finally details all the different types of relief for borrowers. But it sure took a long time.
Posted In: Housing, foreclosure, mortgage, mortgage settlement

U.S. homeowners to get a few new lifelines

Mar 6, 2012
President Obama reportedly plans to announce some new help for hurting homeowners. There's word one part of the plan would make it cheaper to refinance mortgages insured by the Federal Housing Administration.
Posted In: homeowner, Federal Housing Administration, mortgage, Housing

The allure of homeownership

Feb 13, 2012
My husband and I are both church pastors. We have been married for a year and half and we both work full time. Our gross income is about $84,000 and we tithe 10 percent to our churches and charities, which we will continue to do. We are trying to decide whether or not to purchase a home, and whether we are saving money in the proper places.... Is this a good time to buy a home? What if we needed to sell it in four years? Should we be putting less money into savings and more into the Roth IRA's? Thank you for your help! Emma, Beverly Hills, MI
Posted In: home, mortgage, Savings, retirement savings, Roth-IRA

Pages