Michigan Mortgage

Loan Modification – The End of the Road or Just the Road Less Traveled?

Why do Lenders Modify Loans?

Since we began working with Dave Ramsey’s listeners through our preferred partnership with Churchill Mortgage in November of 2009, I talk with no less than 100 families per month about refinancing their homes. For most, the call quickly becomes a math problem that essentially determines the cost and benefit of the loan and whether or not the person would be better off by simply adding money to their monthly payment and just paying it off more quickly on their own. Refinancing makes sense for some, and for others they should just keep doing what they are doing.

Sometimes though, it’s more complicated and difficult. Yesterday was one of those calls…

Need a Reason to Make Your Payments? How about – It’s YOUR Mortgage!

The article I’m referrencing from the Wall Street Journal today is by Peter Eavis and shows a chart with a straight line increase in foreclosures from 2006 through the end of the the 3rd quarter, 2009. The percentage of mortgage holders that are 90 days past due is rising at a scary pace – now over 8%! The scary part of that number is not the number but the current direction…

Gains in Pending Home Sales, Other Markers Help Cut Housing Inventories

It’s now eight consecutive months that pending home sales have made gains nation-wide, the longest streak since we started measuring it in 2001. But as we’ve seen with just about every other positive economic indicator, just because the sun is shining in Texas, doesn’t mean it’s not raining here.