Both mortgage guidelines and the economy have tightened since 2006, bringing more attention to “joint homeowners” — non-spousal partners that buy and share a home as roommates. The practice is not new, but, anecdotally, co-purchasing is becoming more common. In the video above – filmed two years ago but still on-target today – real estate expert Barbara Corcoran [...]
Read MoreIt’s Tax Day today and who among us doesn’t love a legitimate tax deduction? The IRS expects to process 138 million tax returns this year and accompanying those returns will be a melange of tax deduction requests. Most will be run-of-the-mill including such staples as mortgage interest, vehicle mileage, and child care deductions. Others, however, [...]
Read MoreShopping for low mortgage rates is a game of luck. Some days, mortgage rates are favorable. Other days, they’re not. And while you can sometimes make an educated guess about where rates might be headed, you’re not always going to guess right. Even the experts get it wrong more often than they’d like. But some [...]
Read More fhaWhen conforming mortgages adjust, they’re often tied to an interest rate index called LIBOR. LIBOR is an acronym for London Interbank Offered Rate. But what LIBOR stands for isn’t as important as the role it plays. LIBOR is an interest rate at which banks borrow money from each other. Therefore, when banks feel the banking [...]
Read More adjustable mortgagesApril 4, 2009, marked the official start of the Making Home Affordable refinance program. Expected to help 5 million homeowners, the Making Home Affordable program “looks the other way” with respect to falling home values, approving mortgage applications based on borrower payment history and benefit to the homeowner. Not every homeowner is eligible for a [...]
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