A little-known feature called a ‘mortgage recast’ can help you pay off a home loan. Throughout my childhood, I gleaned many financial lessons from my father. One of the most important came from his obsessive desire to get rid of her monthly mortgage payment. Dad hated debt, which he described as a form of bondage. … Read more
Savvy investors recognize that when your vacation home is empty, it’s just draining your bank account. Here’s how to turn it into a lucrative short-term rental You may have purchased your second home as a central hub for far-flung family members or as a crash pad for your favorite getaway spot. But savvy investors recognize … Read more
Fannie and Freddie’s Fees Are Going Up Despite Lender Objections The Federal Housing Finance Agency says risk-based fee increases are aimed at ensuring the mortgage giants’ safety and soundness, not to subsidize fee waivers for buyers of limited means Fannie and Freddie’s fees arecgoing up despite lender objections. The head of Fannie Mae and Freddie … Read more
With interest rates high, a home equity loan or HELOC may be your best choice for cash right now. In its December meeting, the Federal Reserve announced its third and final rate cut of 2024. Policymakers lowered the federal funds rate by 25 basis points to a range of 4.25% to 4.50%. While the reduction … Read more
The V.A. loan prohibits borrowers from paying commissions to real estate agents — a rule that could put veterans at a great disadvantage when buying a house. On a tree-lined street, houses stand on one side of the road and cars are parked on the other.A settlement from the National Association of Realtors will force … Read more
The age-old “House Hunters” joke is a simple one: A husband and wife each have a ludicrous career and an equally ludicrous budget to buy their dream home. For example: One spouse tunes harmonicas part time, the other trains hamsters — but, somehow, their home-buying budget is $1.2 million. Fans of the HGTV show have … Read more
Small down payments can be a boon for some, but others worry about a possible wave of defaults. “The mortgage industry is getting crushed,” said Jason Mitchell, a Scottsdale, Ariz.-based real-estate broker. “You’ve got to find a way to produce mortgages.” Getty Images Home buyers, beware. With mortgage rates at multi-decade highs, business has dried … Read more
On Aug. 17, real estate agents across the country must begin following new practices on how commissions are paid. It will change the way buyers and sellers approach real estate transactions. Sweeping changes to the real estate industry are going into effect this week, five months after the National Association of Realtors agreed to a … Read more
Savvy investors recognize that when your vacation home is empty, it’s just draining your bank account. Here’s how to turn it into a lucrative short-term rental You may have purchased your second home as a central hub for far-flung family members or as a crash pad for your favorite getaway spot. But savvy investors recognize … Read more
The Federal Housing Finance Agency says risk-based fee increases are aimed at ensuring the mortgage giants’ safety and soundness, not to subsidize fee waivers for buyers of limited meansFannie and Freddie’s fees going up Monday despite lender objections The head of Fannie Mae and Freddie Mac’s federal regulator says the agency will push forward in … Read more
