Todd Zywiki, professor of law at the George Mason University, wrote a very interesting opinion piece today on the Wall Street Journal on why bankruptcy judges should not be allowed to make changes to mortgage contracts.  Here is an excerpt: Mortgage modification would indeed provide a windfall for some troubled homeowners — but its costs [...]

I attended a presentation today on Mortgage Insurance. The presenter was pretty excited since she believed MI would be making a strong comeback this year. She gave several reasons for this, one of them being the fact that MI is now tax deductible. I challenged her on the tax deductibility part since the provision only [...]

Recently I received a question from a client asking whether they should set up an impound account for their taxes and insurance. Impound is the same thing is escrowing so don’t be confused. Here is what I told him: “As a lender we can set it up so that you pay your taxes every month [...]