Tag Archives | mortgage

Cons of paying off your mortgage early

Homeowners often dream paying off their mortgage and getting rid of those pesky monthly payments.  Maintaining those payments, however, might be providing you with more benefits than you think. Benny Kass with Inman News discusses whether the peace of mind that comes from mortgage payoff outweighs the tax and income benefits of maintaining a mortgage balance. […]

Mortgage rates are on the rise!

If you are thinking about buying a home, now is the time to take advantage of historically low rates.  Total Mortgage Services just reported that, “over the past two weeks, mortgage rates have risen to levels last seen in early July. According to Freddie Mac’s Primary Mortgage Market Survey, the average rate on a 30-year fixed rate mortgage is […]

How Much House Can You Afford?

This home affordability calculator from Financial Calculators, Inc., will calculate how much house you can afford.  Enter your income, liabilities, and debt, as well as your new loan assumptions to see an estimate of how much you can potentially afford for your new home.

Massachusetts Man Makes Last Mortgage Payment in Pennies

A Milford, Massachusetts man who pledged to make the last mortgage payment on his home with pennies has fulfilled that promise. News9.com reports that Thomas Daigle used more than 800 pounds of the change to make his last mortgage payment, and he says the unusual payment method started as a joke between him and his wife. “I […]

Bank of America faces bad home equity loans and mortgages

              According to the Niche Report, Bank of America Corp., whose home-equity mortgage portfolio exceeds its stock market value, probably will say about $2 billion of junior loans are bad assets tomorrow even as some borrowers are still paying on time. That’s what Barclays Capital estimates the bank will report […]