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Mortgage Payments

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

Jack M. Guttentag | Posted 09.22.2015 | 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 08.20.2015 | 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 07.13.2015 | 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.

Deceptive Mortgage Ads Lead To FTC Warning

AP | Posted 01.19.2013 | Money

NEW YORK (AP) — The Federal Trade Commission said Monday that it sent letters to 20 mortgage advertisers, warning them that their advertisements may...

Why You Shouldn't Pay Down Your Mortgage Faster

AP | JONATHAN FAHEY | Posted 08.30.2012 | Money

-- The impulse to pay off your mortgage more quickly than you need to is understandable, especially these days. Interest rates are near historic low...

More Homeowners Are Paying Their Mortgages

AP | ALEX VEIGA | Posted 10.08.2012 | Money

LOS ANGELES -- U.S. homeowners are getting better about keeping up with their mortgage payments, driving the percentage of borrowers who have fallen b...

Man Pays Off Mortgage With Pennies

AP | Posted 07.06.2012 | Money

MILFORD, Mass. -- A Massachusetts man who pledged to make the last mortgage payment on his home with pennies has fulfilled that promise. After warnin...

One Sign The Housing Market May Be Starting To Rebound

AP | ALEX VEIGA | Posted 05.09.2012 | Business

LOS ANGELES -- The percentage of U.S. homeowners behind on their mortgage payments dropped in the first three months of this year to the lowest level ...

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...

Watchdog To Propose New Rules That Could Save Homes

AP | DEREK KRAVITZ | Posted 06.10.2012 | Business

WASHINGTON — The federal government proposed new rules on Tuesday that will give homeowners more ways to avoid foreclosure and get an accurate a...

For Cash-Strapped, This Is A Priority

AP | PALLAVI GOGOI | Posted 05.29.2012 | Money

NEW YORK — The recession and its hangover may have turned bill-paying habits upside down. Cash-strapped Americans are paying off their car loans...

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.

Mortgage Delinquency Rates Expected To Plunge Next Year

AP | EILEEN AJ CONNELLY | Posted 02.06.2012 | Business

NEW YORK — If the U.S. economy does not suffer more setbacks, the rate of mortgage holders behind on their payments should decline significantly...

Homeowners Having Harder Time Making Their Mortgage Payments

AP | EILEEN AJ CONNELLY | Posted 01.08.2012 | Business

NEW YORK — While lawmakers in Washington debated the debt ceiling and consumer confidence dropped, more homeowners in the U.S. were having a har...

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...

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...

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...

Shahien Nasiripour

Obama To Order Lenders To Cut mortgage Payments For Unemployed | Shahien Nasiripour | Posted 05.25.2011 | Business

This story has been updated More than one year after the Obama administration launched the most ambitious effort to help struggling homeowners since ...

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...