Mortgage & Finance

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 [...]

Home builder disclosure didn't predict association budget deficit? If the builder knew the disclosures were false, talk to an attorney. Q: I have a question about the ethics and any legal issues you see in a situations we have. We live in a small, seven home subdivision that was recently turned over by the builder [...]

Need mortgage rate lock advice? Check with your loan officer to make sure it's locked before mortgage interest rates rise. Q: We started working with a loan officer at a bank because he was recommended by our real estate agent and also participates in a program with my employer to help get employees lower interest [...]

Should I refinance my adjustable rate mortgage into a fixed-rate loan? Refinancing your ARM now could increase your interest rate.  Q: I owe more on my mortgage than what my house is worth. And, unfortunately, my loan isn't owned by Freddie Mac or Fannie Mae, and it is an adjustable rate mortgage. What are my [...]

Owing more than your house is worth? When deciding if you should get a renovation loan, think about if the debt you'll owe is worth it. Q: My home is like most in our neighborhood: I owe more than what it's worth. I would continue to live in my home until I'm ready to sell, [...]