The Federal Reserve Act: Creation of the Federal Reserve System
The Federal Reserve System, more commonly referred to as ‘The Federal Reserve’ and ‘The Fed’ has an interesting history dating back to the early 1900’s. Read More
What is a Zombie Foreclosure?
When a homeowner receives a notice of foreclosure, it’s not unusual to pack up and move out as quickly as possible. That hasty decision may not be wise however, because many unforeseen complications can occur Read More
What Exactly Is A Mortgage?
Mortgages are thought to be home loans used to finance the purchase of a home. The word mortgage has become a generic term used to refer to a loan secured by real property because most mortgages occur as a condition for new loan money. Read More
Looser Mortgage Requirements Entice Home Buyers
After the housing bubble went “pop” in 2007, it became a lot tougher for the average home buyer to qualify for a mortgage. Read More
Factors That Influence Mortgage Rates
It’s a popular belief today that the U.S. Government directly controls mortgage rates by simply raising and lowering them at will. In reality, it’s a lot more complicated. Read More
Is Subprime Making a Comeback?
Since the housing crisis of 2008, the phrase “subprime loan” has become the moral equivalent of a four-letter word, an indication of all that goes wrong when risky, irresponsible home loans for bad credit become commonplace. Read More
The Federal Reserve System: Structure and Purpose
The Federal Reserve System is the central banking system of the United States and was created in 1913 with the enactment of the Federal Reserve Act. Over the past century, its roles and duties have expanded. Read More
How Mortgage Amortization Works
One of the most frustrating aspects of paying down a mortgage is watching the principal owed fall at a slow rate. Read More
How Do Mortgage Rates Work?
There is a common misconception about mortgage interest rates and how rates are determined. It’s common for many people to mistakenly think The Federal Reserve sets mortgage interest rates. Read More
Mortgage Points: Getting to the Point
What are Mortgage Points?
When it comes to mortgages, a point is a very simple calculation. It is precisely 1% of the value of the amount mortgaged. Read More
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