Mortgage & Finance

When deciding to refinance a 30-year mortgage to a 15-year, know that it could build up equity faster and save money over the life of the loan. By: Ilyce Glink and Samuel Tamkin Q: I recently talked to Chase and Quicken Loans and Quicken came back and said I could lower my monthly payment by [...]

When does it make sense to refinance a home loan? Depending where your mortgage is, it may not be wise to pay thousands of dollars to refinance. Q: I was listening to you today on WGN radio and wanted to ask about my Condo loan. I refinance my home in 2000 at a rate of [...]

Home prices are rising at a double-digit rate, surprising experts and consumers alike. In some California markets, real estate prices are zooming so fast that they have ignited bidding wars and raised concerns that these real estate markets are facing another bubble—and subsequent crash. A number of factors are contributing to rising prices. The most [...]

Many people have problems with home appraisals today. There has been a reduced emphasis on local market knowledge by lenders. The housing crisis has left buyers, sellers and homeowners facing some difficult moments wondering whether the home they want to buy, sell or refinance will appraise out in value. We’ve answered a number of questions about [...]

If your home value has declined and you don't want to pay your mortgage anymore, try to sell your home in a short sale. Q: I am single and live in a home in Clayton County, Georgia. I’ve owned the home for 16 years and owe $115,000 on two mortgages. The neighborhood has really gone [...]

Getting your name off a mortgage after a divorce requires a properly drafted loan modification by the lender to release you from the loan. Q: My ex-spouse and I own two houses. The separation agreement spells out that I am to be taken off the title to those properties. The two house loans together total [...]

We’ve all heard hundreds of times that the real estate market is getting better, but things are still tough for many homeowners. According to a recent CoreLogic report, there were 55,000 foreclosures completed in March; that’s two times more homes lost to foreclosure than before the crisis. If you’re a homeowner who is struggling to [...]

Buying a home can be stressful, and getting a mortgage may be difficult. Slightly more than half of all applicants for a mortgage are successful today, according to Ellie Mae’s April 2013 Origination Insight Report. And that’s an improvement; two years ago, only 47 percent of mortgage applications succeeded. Mortgage originators have tightened their standards [...]