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2014 – 2015 HAMP Mortgage Modification Program Extension

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The Obama administration, via the Federal Housing Finance Agency (FHFA) has directed government sponsored entities Fannie Mae and Freddie Mac to extend the Home Affordable Modification Program (HAMP) through year-end 2015. The HAMP program allows struggling homeowners to refinance to a lower rate and stay in their homes. he HAMP program was scheduled to expire [...]

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Working From Home Is More Productive Than Being in The Office

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Great article from Bloomberg Businessweek on what employees really do when they are working from home. This includes: 43 percent watch TV or a movie and 20 percent play video games while officially working from home. Parents are more likely than those without children to partake in these two activities, which aren’t work-related. Employees might [...]

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Should You Pay Off Your Mortgage Early or Invest The Extra Cash?

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Many of us dream about how it would feel to not have a monthly mortgage payment. Owning your home free and clear is the aspiration of numerous homeowners. But even without – in most cases – that hefty payment leaving your checkbook every 30 days, there are actually some reasons not to pay off your [...]

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15 Year Versus 30 Year Fixed Rate Mortgages – How to Determine Which is the Better Option

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As mortgage rates continue to hover at 30 year lows, many people are wondering whether a 15-year or a 30-year mortgage term is a better option. After all, even though payments on the 15-year option would be higher, the lower interest rates on the shorter term loan are keeping payments, in many cases, at very [...]

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Updates: Claiming Home Buyer Credit Extension, Small Business Loans and Tax Breaks Plus $250 SSI Payment

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I wanted to provide a few updates on some of the more popular topics on this site given recent developments. You can click on the topic header to get more details. Home Buyer Tax Credit Extension (again) and Claiming It : One of the most popular topics on this site, the many articles I have [...]

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Looking Beyond the Monthly Payment and Calculating the True Cost of Your Refinance

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Mortgage lenders often attract homeowners seeking to lower their mortgage interest rate with some simple math, usually presented in one of two ways: 1) Comparing the nominal closing costs to the total savings from 30 years of a lower monthly payment, or 2) How few months it will take before you break even with your [...]

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Solving the Housing Foreclosure Crisis by Cutting Mortgage Principal Balances – Big Mistake

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Mortgage interest rates are at their lowest point in decades (about 4.5%) and the housing credit has been in effect for more than three years, yet the housing market is tepid at best, with foreclosures at record highs and government housing institutions having to put more distressed assets on their books. This has spurred rumors [...]

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Housing Market Predictions and Forecast For Home Prices in 2011 and 2012

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[September 2011 update] The American housing market is still in the doldrums according to the latest S&P/Case-Shiller Home Price Index which showed that U.S. home prices are down a record 5.9% from the corresponding quarter last year (2010). But there is some good news in that home prices are up 3.6% from last quarter. The [...]

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Alternative Home Loan Modifications Outpacing Government HAMP Mortgage Relief Program in Helping Homeowners

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In a sign that private enterprise is still much more efficient than government run programs, USA today published a story confirming that private servicers’ alternative home loan modifications are outpacing government sponsored HAMP mortgage modifications. Despite the attention given to the federal government’s $50 billion Home Affordable Modification Program (HAMP), which was designed to lower [...]

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Updates on 2010 Government Tax Credits – Home Buyer Credit Filing Extension, $250 SSI and Medicare Gap Payments, Teacher Credits and Unemployment Insurance

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I have posted updates to a number of articles covering the spectrum of government stimulus funded tax credits and deductions. Here is a summary of the updates with a link to the detailed articles for more detailed information, qualification criteria and latest status. If you haven’t already, join 6000 plus subscribers to get the latest [...]

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