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Mortgage Payments

Mortgage Repayment: Questions About Monthly Payment Management (Second of a Series)

Jack M. Guttentag | Posted 02.23.2016 | Business
Jack M. Guttentag

This is the second of a series on questions about mortgage repayment. The first article looked at mortgage repayment as a type of investment. This one is focused on payment mechanics.

Mortgage Repayment: Questions About Repayment as an Investment (First of a Series)

Jack M. Guttentag | Posted 02.19.2017 | Business
Jack M. Guttentag

Questions from readers about why and how to pay off a mortgage early outnumber those I receive on any other topic, including loan origination. Borrowers typically spend only a few weeks, at most a few months in acquiring a mortgage, but they usually have the mortgage for many years.

Tough Questions: Negotiating a Mortgage Balance Reduction, and Can a Disabled 9/11 First Responder Become a Homeowner?

Jack M. Guttentag | Posted 09.22.2016 | Business
Jack M. Guttentag

Some of the questions I get from readers make me wince. One reason is that I know the questioner is not going to be pleased with my answer.

Is Paying Down Your Mortgage Balance a Good Investment?

Jack M. Guttentag | Posted 08.17.2016 | Business
Jack M. Guttentag

An advance payment is an interest-free loan to the lender, who holds the borrower's money until such time as a payment comes due. In fact, an advance payment serves no purpose for the borrower.

What Happens When the Lender Miscalculates the Payment?

Jack M. Guttentag | Posted 07.13.2016 | Business
Jack M. Guttentag

I once had occasion to deal with two letters from readers that came in on the same day, both involving lender mistakes in the calculation of the payment. In the first, the payment was set too high but the borrower didn't know it and completely misunderstood the consequences.

WATCH: Parents React To Son Paying Off Their Mortgage

The Huffington Post | Ryan Grenoble | Posted 01.05.2015 | Good News

By his own admission, Joe Riquelme isn't too concerned with ornate Christmas wrapping. Then again, he says, "Sometimes the best gifts come in the ...

Mortgage Modifications Must Be Written and Signed

Brad Reid | Posted 04.01.2014 | Business
Brad Reid

Financial arrangements should never be approached casually. Make no assumptions concerning the meaning of the lender accepting loan payments. Follow statutory requirements to the letter. Obtain legal advice from a real estate attorney. Money spent for legal counsel is well spent.

Honesty Helps When Avoiding Foreclosure | Posted 09.07.2013 | HuffPost Home

If you start to fall into trouble, the most important thing is to face your situation honestly. If you don't think you can make your payments in the long term, think about other strategies and pursue them with your lender.

Bank Of America Tells Woman To Miss Mortgage Payments, Then Forecloses On Her House

The Huffington Post | Alexander Eichler | Posted 04.10.2012 | Business

Here's how Pamela Flores tells it: A couple years ago, she found that she couldn't keep making mortgage payments on her Atlanta house. She says she...

An Open Letter to America

Trisha Ocona Francis | Posted 04.03.2012 | Business
Trisha Ocona Francis

Why did the banks get billions of dollars in a bailout when many failed, but as a working, tax-paying citizen, my cries were left on deaf ears? How do I get out and become free again? I know everything is a risk including homeownership, and it comes with a lot of sacrifice.

Report: Officials Working With Banks On Mortgage Refinancing Plan

Posted 12.18.2011 | Business

Officials and big banks are working on a plan that would make refinancing available to some borrowers whose houses are worth less than their loans, so...

Seriously Delinquent Mortgages Again On The Rise

Posted 11.29.2011 | Business

WASHINGTON - Borrowers are making their mortgage payments on time more frequently compared to a year ago, but delinquency rates remain elevated as gov...

If You Suddenly Needed $1,000, Where Would You Turn?

Posted 10.11.2011 | Business

Asked what they'd do if unexpectedly required to come up with one thousand dollars, the vast majority of Americans say they would look to means outsid...

In the Wake of the Recession, Bankruptcies Hit Women, Communities of Color Hard

Dory Rand | Posted 07.06.2011 | Chicago
Dory Rand

Every year in Cook County, thousands of women are facing tough choices and making the difficult decision to declare bankruptcy, a decision that has the potential to dramatically change someone's life.

CHART: Americans Begin Paying Credit Cards First, Mortgages Second

The Huffington Post | Maxwell Strachan | Posted 06.06.2011 | Business

The recession has forced many struggling families across the country to confront a difficult decision: pay off credit card bills or make mortgage paym...

Bank VP Says Zero Mortgages Modified At His Bank, Instead Homeowners Get 'Runaround' (VIDEO)

Posted 05.25.2011 | Business

A vice president at one of the nation's biggest banks told ABC News that his bank works to give struggling homeowners "the runaround" by directing the...

Credit Card Or Mortgage: Consumers | Vincent Fernando | Posted 05.25.2011 | Business

Credit history company TransUnion has found that Americans are shifting their priorities when it comes to paying down debt. Consumers are paying down...

Should We All Stop Paying Our Mortgages?

Rohit Chopra | Posted 05.25.2011 | Business
Rohit Chopra

Tens of thousands of American families may remember Christmas of 2009 as the last time they'll spend a holiday in a home they own. Yet 2010 might not look much prettier.

Keeping the Love Alive With Your Credit

Jeanne Kelly | Posted 05.25.2011 | Business
Jeanne Kelly

Yes, credit is a lot like love. We all want it. We all need it. But it's a two way street, and finding ways to maintain it is the key.

Transforming Homeowner Violence Into A Mortgage War Plan

Iris Martin | Posted 05.25.2011 | Business
Iris Martin

Homeowners suffering from payment shock and foreclosure syndrome are not getting the psychological help they need to survive escalating vicious attacks by their lenders If payment shock and foreclosure syndrome is not treated as the national epidemic that it is, affecting over sixteen million homeowners, homeowner violence will increase, as will homeowner suicide. Toxic lenders and their cohorts, government cronies, co-conspirators and attorneys need to be punished -- in a court of law, not on the front lawn.

Paper: Are You An Idiot To Keep Paying Your Mortgage?

San Francisco Chronicle | Kathleen Pender | Posted 05.25.2011 | Business

Should you keep paying your mortgage? If you have significant equity in your home, absolutely. If you don't, it's getting harder to answer that ques...