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So, You want to be a Landlord…

Tip No. 1: Make sure you know what you’re getting into. Determined to profit from the housing boom, many Americans are acquiring rental properties. But some of them may be underestimating the risks and complications that come with being a landlord. more

Hock Your House

Some advisers say to pay off your mortgage. We say leverage up and invest. By IRA CARNAHAN more

What the Mortgage Next Door Can Tell You

You’ve hunted for a new house for months, and now you’re ready to bid. But before you do, check one more indicator to see whether you’re making a smart purchase: the types of mortgages home buyers in your market are choosing. more

Mortgage Brokers Versus Traditional Banks

Obtaining a loan through a mortgage broker is the preferred method by the vast majority of Americans and a proven way to obtain a better interest rate. more

When it comes to mortgages, it doesn’t always pay to pay early

Many homeowners who are rushing to refinance as interest rates rise may find themselves facing some unexpected terms: Their lenders have set a trap for them if they decide to pay the loan off early. more

Madison Property Assessments Soar

Postcards with Madison homeowners new property assessments have probably all been delivered by now, and on average, values went up an average 8.6 percent. more

NAMB Press Release, April 8, 2005

NEW STUDY: CONSUMERS PAY LOWER ANNUAL PERCENTAGE RATES WITH MORTGAGE BROKERS, NOT MORTGAGE LENDERS more

40-year MORTGAGE

Extra-long loans seal the deal for some buyers, despite minimal savings. more

Ugly Math

How Soaring Housing Costs Are Jeopardizing Retirement Savings more

The Unlikely Case For Fixed-Rate Loans

Long-Term Mortgage Rates Edge Down, Confounding Experts and Spurring Refinancing more

Adjusting to Rising Mortgage Rates Now a Reality for Homeowners

In a period of rising interest rates, homeowners with adjustable-rate mortgages (ARMs) can get burned with higher monthly payments. more

IRS Decision Aids Home Sellers

Recent Ruling Allows Those With Home Offices, Rental Units, to Defer Taxes on Some Gains more

Pay Back Time

Remedies for your holiday debt hangover more

Finding The Right PRO

Advice: Start the year by making sure you get the best possible financial help.  more

Low online rates can come with problems

Internet lenders offer lower mortgage rates, but local professionals say the deals aren’t always as good as they seem to be.  more

Report says the best way to build wealth is to buy a home

The preferred path to wealth may lead through the front door of your home and not through the stock market, according to a national research report.  In a study for the National Association of Realtors, home equity- the difference between debts owed on a home a loan and the value of a home- accounted for 19 percent of household wealth. more

Protecting Yourself from a Housing Slump

In many cities, the housing market looks as extravagant and top-heavy as a Dr. Seuss castle. In metro New York, the median price of a single-family house is up 78% since 1999, according to the Office of Federal Housing Enterprise Oversight. The gains are even bigger in Miami (87%), Los Angeles (97%), and San Diego (115%). For years house prices in these markets have risen faster than family incomes. The trend made sense when mortgage interest rates were falling, but rates hit bottom in mid-2003 and they’re likely to rise. Put it all together, says Yale University economist Robert J. Shiller and “it seems like house prices are within a year or so of cyclical peak”. more

Six Mortgage Myths That Can Cost You Money

Do you believe that you can't borrow money to buy a house if you have some dings on your credit? Do you think it's always best to pay off the mortgage early, if you can? If so, you subscribe to mortgage myths that can cost you money. Here are six common myths. more

Tips On How To Prevent Identity Theft

Identity Theft is the fraudulent use of your name and data by someone else to obtain credit, merchandise or services. Over 7 million people were victims last year! more

What’s best emergency loan?

Here are some things to consider:

When hard times hit, money gets tighter. Sometimes it runs out. The answer often is to borrow.
So which loan is best?

Generally speaking, the best choice is to borrower from family and friends. Besides keeping convenient banking hours, they are usually more forgiving on loan rates and late payments. But the more conventional choices--- credit cards, 401 (k) loans and home-equity loans are not so clear-cut. Each has its risks. In the worst case, these loans can leave you mired in debt, trigger taxes and penalties or even lead to losing your home. more

Forget the Deductions: Why you should pay off your mortgage

More Americans are quitting the work force without retiring their mortgage. Big Mistake? It could prove more taxing than they ever imagined. more

Mortgage Options Lure New Buyers

Interest only plans are popular, but may not be in everybody’s best interests.
When Chris Baumann and his wife, Holly, had their first child in March, they sped up the process of moving out of an apartment and into a home. more

Credit Reports

How to order your credit report:

Although free reports become available in some parts of the country beginning December 1, getting a head start correcting any errors makes buying a report a wise investment. Each of the three major credit-reporting bureaus will sell you a report that combines information from all three, for the price shown below. We found Equifax’s the easiest to use. You can buy a report separately from each bureau for $9.00.  more

What You Don't Know Can Cost You

Think you’re paying too much for homeowners insurance? You could be making expensive mistakes without knowing it.
While you may have little control over political, regulatory, and business environments that affect rates, you can take steps to avoid costly claims that could send your premiums through the roof. more

New Opportunities and Pitfalls Asking the Right Questions & Offering Trusted Advice

Originators are becoming aware of how important a home loan is to a family’s overall finances. Choosing a mortgage should involve more than picking the lowest rate. Instead, a household’s budget and plans also need to be taken into account. A loan officer who asks questions before recommending product can become an important professional advisor.
Here are some questions to ask. more

Homeowners Checklist

Homeowner's Maintenance Checklist. more

Value of Housing Characteristics

A home is made up of a number of attributes that determine its value or selling price. Because all properties are unique in any number of ways, determining how all of the physical and locational characteristics affect the value of a home can be difficult. Recent research provides some insight into which characteristics add or detract from a home’s value. more

Top Ten Mistakes When Buying a Home

Buying a home is one of the largest investments you’ll ever make and your home mortgage, taxes and insurance costs can range from 25% to 40% of your gross annual income. Conduct research and talk to professionals regarding your home purchase. You will be glad you took the time to understand the process. more

10 Steps to Lower Your Property Tax Bill

With the government deficits at an all time high- along with property values (at an all time high too), your local tax collector has something to smile about- namely, increasing your property taxes. more

What is tax deductible in the loan process?

1. Home acquisition mortgage loan fees. If you bought your primary of second home in 2003, you probably obtained a mortgage to finance the purchase. That mortgage is called an “acquisition mortgage” because it enabled the purchase of the residence. If you paid a loan fee to obtain that acquisition mortgage, usually called “points” that loan fee qualifies as an itemized interest deduction. Each point paid equals 1% of the amount borrowed. more