Details of President Obama’s plan to help struggling homeowners was announced today. This plan was announced a few weeks ago as the Making Home Affordable initiative. From the details which were announced today this plan helps two types of homeowners  and applies only to primary homes. This means you can not expect any help on [...]

A common question people ask me when I’m working on a loan is the date of their first payment. The way mortgage payments work, you make your payment at the end of the month. This is different than rent, where you pay at the beginning of the month.  Meaning, you pre-pay for the month to [...]

Early in my mortgage career a sales veteran once told me that the best way to solve a customer problem was to throw money at it. I guess this is an even better solution when you’re the ones printing money.
Full story “Housing rescue plan passes key Senate test“.
My opinion:

Just to put things in perspective, I [...]

I guess even folks in Congress are close to foreclosure on their homes. I really shouldn’t be surprised though. The guys on the Hill are so used to spending other people’s money like it grows on trees and I’m sure that mentality is bound to sink into their own personal finances at some point [...]

Recently, a past client contacted me to see if he could refinance his house. We looked at all the numbers and it seemed to make sense. The only problem was his credit. Not quite exactly his credit per se, but the co-signed loan on his credit. The infraction coming of course from his own daughter. [...]

I’m thinking out loud here. Since, the Canadian dollar is now at parity with the US greenback, I’ve been doing some number crunching. I’ve posted on what a 250,000 USD home in Arizona looks to a Canadian. It’s all good news for a Canadian seeking to purchase some Phoenix real estate.
What’s even better is looking at the [...]

If you are having trouble making payments on your home then the first thing you should do is call your lender/servicer. For many people this can be a frightening proposition. You might be afraid you’ll end up saying something that will put your home in jeopardy. Or, you might not understand the different options the [...]

Not only can bad credit cost you big bucks, it could even cost you that new job you want or the promotion you’ve been working so hard to get.  It’s hard to believe, but it’s true, more and more employers are pulling credit and screening out job applicants.
I vaguely remember a conversation from a few months. The [...]

There are lots of online tools available for homeowners facing foreclosure and/or those having difficulty with their mortgage payments. These tools might be helpful if you’re in an adjustable rate mortgage which is to reset to a higher interest rate, or even for those facing job loss or other financial hardships.Below are a few tools [...]

Suze Orman describes herself as a personal finance expert. Most of the time I agree with the advice she dispenses. However, there are times when I scratch my head and wonder where she gets her information. What worries me about a recent article she wrote is the confidence with which she dispenses advice based on [...]