tag:blogger.com,1999:blog-14175145957015041872009-05-07T12:38:54.952-07:00By The Mortgage ManRRAAJJnoreply@blogger.comBlogger110125tag:blogger.com,1999:blog-1417514595701504187.post-54082342211094619742009-04-08T09:04:00.000-07:002009-04-08T09:12:09.448-07:00

While it is not advertised, most of the mortgage lenders out there are more than willing to renegotiate the terms of a mortgage deal after you sign the dotted line. Renegotiating interest rates on a mortgage loan is one of many options available to home owners who want to keep their houses but have problems paying the monthly mortgage payment. If your mortgage payment is due and you're unable to

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-34317097783472097302009-04-03T22:19:00.000-07:002009-04-03T22:26:30.924-07:00

Canadian inflation jumped more than expected in February, reversing a five-month trend. The Bank of Canada had forecast prices could drop in the absolute during the second and third quarters of this year, raising the spectre of deflation. Bank of Canada is expected to ignore the price pressures as it plans whether to cut interest rates to fresh historic lows. The next move by the Canadian central

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-80941316133461020112009-03-30T23:08:00.000-07:002009-03-30T23:11:50.460-07:00

Interest rates have been falling and you may benefit from breaking your mortgage and transferring the mortgage to another institution. Some agreements do not allow for a mortgage to be renegotiated, but most do. Financial institutions will usually allow you to pre-pay your mortgage in full, but will add a penalty. Many people shy away from renegotiating because they don't want to face any

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-47687005963195087392008-10-21T17:43:00.000-07:002008-10-21T17:45:54.746-07:00

The Bank of Canada cut its key interest rate on Tuesday by a quarter point, less than expected, to 2.25 percent but it said it would likely have to ease credit further to combat the effects of the global financial crisis. The Canadian dollar dropped 1.38 cents US on Tuesday after the Bank of Canada moved to cut interest rates again, citing the global financial crisis and economic worries. As a

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-31608044947398676232008-09-30T10:43:00.000-07:002008-09-30T10:46:55.017-07:00

Mortgage rates in Canada are heading higher as fears of inflation grips the bond markets. Canadians received more proof yesterday of the global credit crunch hitting home after this country's biggest banks began hiking their residential mortgage rates in an effort to recoup higher funding costs from their customers. In Canada this week a number of banks raised mortgage rates, and it's a matter of

RRAAJJnoreply@blogger.com2tag:blogger.com,1999:blog-1417514595701504187.post-42626886974624821882008-09-18T18:47:00.000-07:002008-09-18T18:49:08.297-07:00

Mortgage rates fell again this week, sending the rate on the 30-year fixed-rate mortgage down for a fifth straight week to its lowest level since February, Freddie Mac reported. The Mortgage Bankers Association's index of applications to buy a home or refinance a loan increased 33.4 percent to 661.7 in the week ended Sept. 12, the highest level since May. any homeowners sought to take advantage

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-38977036330365562262008-09-18T09:35:00.000-07:002008-09-18T09:38:42.304-07:00

Americans who have put their savings into life insurance and annuity-linked pension funds were running scared as finance titans like AIG collapse.In a statement, American International Group (AIG) said it is operating normally with adequate capital and is fully capable of meeting obligations to policyholders. In the unlikely event of an insurer failure, policyholder claims would be given priority

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-74247424143619907452008-09-13T21:43:00.000-07:002008-09-13T21:49:22.891-07:00

The federal bailout of mortgage giants Fannie Mae and Freddie Mac has resulted in a sharp and sudden drop in mortgage rates. Fannie Mae is short for Federal National Mortgage Association, Freddie Mac is short for Federal Home Loan Mortgage Corporation. They act as guarantors for mortgages. Since the government seized control of Fannie Mae and Freddie Mac, mortgage rates have dropped sharply, but

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-55755589023532195582008-09-08T13:48:00.000-07:002008-09-08T23:49:02.684-07:00

The Bush administration on Sunday said it was taking over Fannie Mae and Freddie Mac. Fannie Mae and Freddie Mac are entities created by Congress - that operate like private companies with shareholders and corporate boards - to finance and guarantee home loans in the United States. Together, the companies hold nearly half of the country's mortgages. The administration said it would funnel

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-27845809454186044272008-08-29T06:51:00.000-07:002008-08-29T06:53:52.740-07:00

The mortgage insurers reported that mortgage defaults rose 1.4% in July 2008. The Mortgage Insurance Companies of America are reporting that last month its lenders reported 68,831 defaults. Mortgage defaults were falling for the previous two straight months before rising again in July. Total primary insurance in-force is almost $802 billion. Information is based on the numbers from American

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-83990113558481116482008-08-19T09:18:00.000-07:002008-08-19T09:19:06.261-07:00

Australia's central bank may soon cut interest rates for the first time in seven years to avoid an economic slowdown. HSBC Bank Australia has already cut its fixed home loan mortgage rates by between 35 and 130 basis points. Three year fixed rates for new customers have been cut to 7.99 per cent from 9.29 per cent.

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-27443564800992735642008-08-18T13:07:00.000-07:002008-08-18T13:32:23.450-07:00

A reverse mortgage is a loan against your home if you are a senior citizen that doesn't have to be paid back as long as you live in that house. using home equity to finance retirement years is growing in popularity. Under the new US law, the amount a senior can borrow through a reverse mortgage has been increased to $417,000 that can increase to as much as $625,500 in high-cost areas. The new law

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-12329293780844245642008-08-16T10:49:00.000-07:002008-08-16T10:51:09.817-07:00

Halifax, one of Britain’s biggest mortgage lenders, has cut its mortgage rates for the second time this week. Several of its most popular fixed or tracker-rate deals are being cut by an average of 0.25%, for borrowers who can put down a deposit of at least 25%. In the past week, other lenders, such as the Newcastle building society, Yorkshire building society and the nationalised Northern Rock,

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-47967569972418753602008-08-16T10:44:00.000-07:002008-08-16T10:45:27.620-07:00

Rising mortgage payments, soaring inflation and fuel prices are beginning to put the squeeze on the spending spree Indians had taken for granted for the past four years. The past four years have brought India economic growth of seemingly unstoppable momentum, often 9 percent a year, helped along by big inflows of foreign investment. Rising incomes and low interest rates enabled many middle-class

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-65696023405229189502008-08-16T09:47:00.000-07:002008-08-16T09:53:04.898-07:00

Canadians do not agree with the federal government's mortgage lending crackdown. A new survey reveals that 23% of Canadians do not agree with the recent federal changes to mortgage lending rules, stating that the new measures reduce options for people looking to buy a home. In an effort to avoid a U.S.-style housing market meltdown Canadian Govt. last month tightened up the rules governing

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-19890840747628664072008-08-09T08:27:00.000-07:002008-08-09T08:29:39.291-07:00

New York, Texas and Florida are the most expensive states in which to get a residential mortgage, according to Bankrate's annual survey of closing costs. North Carolina is the least expensive state for mortgage closing costs. Fees in New York City were highest, averaging $4,016. Houston came in second, with fees averaging $3,975. After that came Buffalo, N.Y., with fees averaging $3,845, and then

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-7468957324933700132008-07-02T13:56:00.000-07:002008-07-02T14:04:29.204-07:00

Home owners with variable-rate mortgages can now protect themselves against rate rises, with the first interest rate insurance policy. The product covers people with a variable rate or tracker mortgage against interest rate rises, and starts paying out automatically once policyholders' mortgage rate rises above a set level. The insurer suggests 7.5 million people are on a variable rate mortgage,

RRAAJJnoreply@blogger.com2tag:blogger.com,1999:blog-1417514595701504187.post-9197701086541781002008-04-30T10:29:00.000-07:002008-04-30T10:30:23.129-07:00

First National had a strong start to 2008, with solid increases in our key metrics," said Stephen Smith, Chairman and President. First National Financial Income Fund owns a 19.97% interest in First National Financial LP, a Canadian-based originator, underwriter and servicer of predominantly prime residential (single family and multi-unit) and commercial mortgages. First National's mortgages under

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-15504024052743837212008-04-30T10:03:00.000-07:002008-04-30T10:14:16.636-07:00

Canadian banks will improve certain disclosure practices as urged by the G7 in its recent Financial Stability Forum report. The severity of the financial crisis has prompted an extraordinary meeting of the heads of the central bank, the country's banking regulator, the federal Finance Department and the big banks, who will gather this morning to talk about what Canada should do to prevent another

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-40121644569957488362008-04-28T15:27:00.000-07:002008-04-28T15:32:32.590-07:00

Bank of America Corp., seeking approval of its Countrywide Financial Corp. takeover, plans to modify at least $40 billion of mortgages during the next two years to keep customers in their homes. Bank of America said that it will locate its national consumer mortgage headquarters in Calabasas, Calif., once it completes its acquisition of Countrywide Financial Corp. Bank of America also plans to

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-66572266971094444402008-04-25T12:41:00.000-07:002008-04-25T12:42:43.005-07:00

Inflation fears pushed U.S. 30-year mortgage rates up after being unchanged for three weeks according to Freddie Mac. 30-year fixed-rate mortgages averaged 6.03 percent this week after three straight weeks at 5.88 percent. Rates on 30-year mortgages were last above 6 percent the week of March 16 when they averaged 6.13 percent. One-year adjustable rate mortgages, or ARMs, climbed to an average of

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-35758986655264349082008-04-25T12:32:00.000-07:002008-04-25T12:36:53.345-07:00

Residential Capital LLC - a money losing mortgage lender - borrowed $468 million from a new $750 million credit facility arranged by its parent GMAC LLC. GMAC has been trying to prop up ResCap after defaults soared and credit markets tightened, leading to a $4.35 billion loss at ResCap in 2007. Residential Capital, LLC, an indirect wholly owned subsidiary of GMAC Financial Services, is a leading

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-72334445927584073412008-04-23T07:20:00.000-07:002008-04-23T07:28:30.133-07:00

The Bank of Canada cut its interest rate by half a point to 3% whilst noting that further cuts might be necessary. The slowdown in the United States, which is Canada's largest trading partner, has begun to affect the Canadian economy. The cut reduces the bank's overnight rate — what big banks charge each other for overnight loans — to three per cent. The overnight rate hasn't been that low since

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-80497105839898934972008-04-15T08:52:00.000-07:002008-04-15T08:55:19.372-07:00

Home Trust is alternative lender that provides credit solutions for borrowers with a wide range of products. Home Trust Company has developed a market niche by lending to people who have had difficulty in obtaining their financing from one of the major banks or mortgage lenders.Home trust lends to Small business owners, self-employed people and People with former credit difficulties that have

RRAAJJnoreply@blogger.com0tag:blogger.com,1999:blog-1417514595701504187.post-71024960534975519112008-04-13T23:47:00.000-07:002008-04-13T23:55:42.159-07:00

It is important to talk to your mortgage lender and tell them you're having difficulties. You may find they are open to revising your payments and/or extending the term of the loan, thereby reducing monthly repayments. Discuss your options with your lender as soon as possible. Then take action immediately. The longer you wait, hoping something will happen, the fewer options you will have. Lenders

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