MMC - Live Mortgage Free

Adjustable Mortage Resets To Really Hit the Fan in 2008

mmc_digg — Thu, 29 May 2008 03:32:28 +0000

In 2008 interest rates will be reset upward on $362 billion worth of adjustable-rate subprime mortgages [ARMs] — a scenario that could significantly worsen the already serious subprime crisis, according to a report in Saturday’s Wall Street Journal.

read more | digg story

The Money Merge account: Why is it so Important?

mmc_digg — Thu, 29 May 2008 03:30:57 +0000

Everyone I talk to has a desire to pay down there principle balance on there home, to either pay it off or create more equity. Now I know that this is an idea you would think everyone would want. However over the past 3 or 4 years no one wanted to pay there house off or even cared what there loan balance was.

read more | digg story

Fed Posts Interactive Map of U.S. Loan Conditions

mmc_digg — Wed, 16 Apr 2008 22:33:12 +0000

The Federal Reserve is posting maps to illustrate subprime loan conditions across the U.S. The maps will be maintained by its district bank in New York. Monthly updates are planned. The maps will display regional variation in the condition of securitized, owner-occupied subprime and alt-A mortgage loans.

read more | digg story

Foreclosures jump 57 % in last 12 months

mmc_digg — Wed, 16 Apr 2008 22:18:36 +0000

Home foreclosure filings surged 57 percent in the 12 month-period ended in March and bank repossessions soared 129 percent from a year ago, as homeowners struggled to make mortgage payments, real estate data firm…

read more | digg story

WSJ.com - Habit-Forming: Borrowers Keep Piling On Debt

mmc_digg — Wed, 16 Apr 2008 22:15:41 +0000

While tighter lending standards have cut off all but the most credit-worthy borrowers from auto loans and home loans, many people are turning to credit cards and tapping home-equity lines of credit to dig themselves in deeper.

read more | digg story

Don’t Monthly Payment Yourself to Death

mmc_digg — Wed, 16 Apr 2008 22:15:02 +0000

Most people are probably painfully aware that gas prices have been rapidly increasing over the last couple of years (and especially months), thus also increasing the costs of any items needing to be delivered from anywhere, the most common being groceries. Many people are feeling the crunch in their budgets as they find themselves having to pay mor

read more | digg story

United First Financial Presents Money Merge Account Mortgage

mmc_digg — Wed, 16 Apr 2008 06:42:50 +0000

Houston, TX (PRWEB) April 10, 2008 — United First Financial wants to know if you are concerned about what your financial future holds? Do you sometimes feel like time is going by so fast that it is almost impossible to think about paying off your mortgage or becoming totally debt free? Does planning for your retirement seem like distant nightmare?

read more | digg story

Fast mortgage payoffs aren’t for everyone

mmc_digg — Fri, 11 Apr 2008 05:47:20 +0000

When Stockton, Calif., resident Kevin Byrd refinanced his mortgage a couple of years ago, he figured he would need the full 30 years to pay off more than $300,000 in debt.

Now he expects to get it done in just 10 years. Or less.

read more | digg story

US Foreclosures Nearly Double

mmc_digg — Tue, 08 Apr 2008 22:06:54 +0000

Foreclosure filings across the U.S. nearly doubled last month compared with September 2006, as financially strapped homeowners already behind on mortgage payments defaulted on their loans or came closer to losing their homes to foreclosure

read more | digg story

Current Foreclosure Crisis Deemed the Worst in U.S. History

mmc_digg — Tue, 08 Apr 2008 22:01:27 +0000

According to the most recent foreclosure numbers released by the Mortgage Bankers Association (MBA), the U.S. is embroiled in the worst foreclosure crisis in recorded history. More than 14 percent of subprime borrowers are defaulting, and prime borrowers are beginning to follow suit.

read more | digg story