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July, 2009
CARD- Credit Card Reform


The new Credit Card Accountability, Responsibility, and Disclosure Act became law in May, triggering sweeping reform of the credit card industry. 
 
Among the changes that credit card companies will be subject to are the elimination of double-cycle billing, opt-in requirements for over-the-limit protection, increases in rate not allowed unless borrower is 60 days or more past due, and payments required to be applied to highest rate balance first.
 
Although on the surface this ...

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posted by RJ Baxter July 03, 2009 10:46 | permalink | comments (0) | Personal Finance
June, 2009
One More Chance


You may have read articles recently that mortgage rates have risen.  Unfortunately, that is the case.  Rates approached 6% on a 30 year fixed which is very high compared to what we have seen this year so far.  Still historically low, these rates still put a damper on refinance activity, and many people who were waiting for rates at 4.5% or lower were left in the dust.
 
If you have been following my blog, ...

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posted by RJ Baxter June 17, 2009 6:03 | permalink | comments (0) | Market Commentary

Mortgage Documentation- Be Prepared


If you have applied for a mortgage in the past year, you know that documentation standards have gotten more and more stringent.  Even the most credit-worthy borrowers with assets and equity in their home or high down payment are being scrutinized.  Gone are the days of reduced documentation or "stated" income.
 
All borrowers must now provide a myriad of paperwork in order to qualify for a mortgage.  Here is a summary of some of the ...

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posted by RJ Baxter June 05, 2009 5:05 | permalink | comments (0) | Loan Programs
May, 2009
Mortgage Rates Rise


Mortgage rates have risen over the past week over .5% to the highest levels we have seen for 6 months.  The main factor at play that has caused this has been the oversupply of money that is being pumped into the system in the form of government bond auctions.
 
The markets yesterday went into a selling frenzy as fear of impending inflation caused investors to flee from long term bonds, a negative for mortgage ...

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posted by RJ Baxter May 28, 2009 12:11 | permalink | comments (0) | Market Commentary

ARMs Again a Viable Option


Once again, adjustable mortgages or ARMs are becoming a viable option for the right homeowner.  For the same points and fees as a comparable fixed rate mortgage, a homeowner can obtain a rate that is over 1% lower than a 30 year fixed rate mortgage!
 
That means on a $200,000 mortgage, the homeowner can save $120/ month or $7200 over 5 years!  ARMs can come in many forms and if structured properly, are not ...

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posted by RJ Baxter May 19, 2009 14:16 | permalink | comments (0) | Loan Programs

Home Affordable Loan Program


The Home Affordable Loan Program went into effect recently and is offering opportunities for many homeowners who have seen their home values decline.
 
The program allows for homeowners to borrower up to 105% of the value of their home, and if their original mortgage did not have mortgage insurance, the new mortgage will also be free of mortgage insurance!  If you have a second mortgage, your total loan-to-value ratio is unlimited!
 
For more ...

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posted by RJ Baxter May 08, 2009 8:54 | permalink | comments (0) | Loan Programs

Guest Authors Wanted


I am currently seeking guest authors who are experts in the real estate or financial planning fields.  If accepted as a guest author, you will receive a prominent backlink listing as a contributing author from the home page of this website, as well as the freedom to create backlinks within your blog posts to your websites. 
 
If you are a real estate or financial planning professional and would like to join my blogging team, ...

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posted by RJ Baxter May 07, 2009 8:29 | permalink | comments (0) | Real Estate

Jumbo Rates Coming Down


Jumbo mortgage rates including Colorado Jumbo Rates are showing signs of life and are starting ease down.  A jumbo mortgage is any mortgage that is above the conforming loan limit of $417,000, higher in some high-cost areas.  There are more and more signs that credit is easing. 
 
The problem over the past 18 months is that jumbo mortgages, not backed by Fannie Mae or Freddie Mac, were liabilities that banks had to hold ...

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posted by RJ Baxter May 06, 2009 8:07 | permalink | comments (0) | Loan Programs

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:: CARD- Credit Card Reform
July 03, 2009
:: One More Chance
June 17, 2009
:: Mortgage Documentation- Be Prepared
June 05, 2009
:: Mortgage Rates Rise
May 28, 2009
:: ARMs Again a Viable Option
May 19, 2009



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