Welcome to Mortgage Guide
Mortgage Foreclosure Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Mortgage Loa Versus Renting
from: Deb St. George - HomelessInKingCounty.comThere is a big debate these days whether it even pays to take out a mortgage loan or if renting ends up being cheaper. Since most people can’t buy a house outright with cash, and depend on getting a mortgage loa, there are some reasons that might make renting more attractive in the short-term. However, if you are looking for stability, a way to build wealth and a home you can call your own – a mortgage loa is the way to go.
The Benefits of Renting
Renting allows a certain mobility in your lifestyle. You sign a lease for a particular timeframe, and if you have to move you can still leave by paying a penalty. On the other hand, if you own your home, you can’t get out of your mortgage simply by moving. You have to sell the house and that can be a problem if your job takes you to many places. If you are very mobile, it’s difficult to make up the 6% you will have to pay the real estate agent to sell your home.
You do have fewer maintenance issues when you rent. If something breaks, you just call the landlord. A mortgage loa does not cover the monthly expenses of maintenance and they can cost a lot. If your roof needs to be replaced, you will spend in the thousands of dollars. However, if you rent the maintenance and appliances are taken care of by the leasing company.
The Benefits of a Mortgage Loa
While these types of benefits for renting are huge, there can be even bigger rewards for buying. When you rent, all of the money you spend for rent is not tax-deductible and does not serve to build up equity for you. In that sense, rent can be like throwing your money away. If you buy, you can find ways to generate equity and use the interest on the home mortgage loa payments as a tax write-off too. This can put you in a lower tax bracket and easily save you thousands, on top of the thousands you make in equity in a rising market.
There are many different types of mortgage loans out there. You can get an adjustable rate mortgage loa or a fixed rate mortgage. Often, the payments you make on a mortgage can be less than what you would pay for an apartment. However, this all depends on the housing market. Right now, there are some markets where rentals are cheaper than buying, so be sure to check your local market to find out which is best for you.
Mortgage Foreclosure News
Foreclosures Plunge to Five-Year Low in U.S. Recovery: Mortgages - San Francisco Chronicle
 ABC News | Foreclosures Plunge to Five-Year Low in U.S. Recovery: Mortgages San Francisco Chronicle The "gradually rising foreclosure tide" forecast by RealtyTrac after a February settlement by the nation's biggest mortgage servicers over faulty practices has yet to materialize, limiting the number of properties on the market and propping up prices. Report: Foreclosure filings slow in Utah, US Fewer homeowners foreclosed upon in April Foreclosures decline in US, King County in April |
MORTGAGE FORECLOSURE SALE - The Southeast Sun
MORTGAGE FORECLOSURE SALE The Southeast Sun The above mortgage foreclosure sale has been postponed until 05/08/2012 during the legal hours of sale in front of the main entrance of the courthouse in the City of Enterprise, Coffee County, Alabama. The above mortgage foreclosure sale has been ... |
Mortgage Foreclosures - The Ledger
Mortgage Foreclosures The Ledger These are mortgage foreclosures filed with the civil division of the Circuit Court in November. Names in bold are the subject of or have an interest in the foreclosure action. Lighter names filed the foreclosure action. Huynh, Michael, et ux., et al.; ... |
NOTICE OF MORTGAGE FORECLOSURE SALE - Johnson - Pine Journal
NOTICE OF MORTGAGE FORECLOSURE SALE - Johnson Pine Journal West Half of Lots 1, 2 and 3, Block 8, Northern Lumber Company's Westerly Re-Arrangement of Cloquet, Carlton County, Minnesota. to pay the debt then secured by said Mortgage, and taxes, if any, on said premises, and the costs and disbursements, ... |
Fewer new mortgage problems in Maryland, more older ones - Baltimore Sun
 e-wisdom.com | Fewer new mortgage problems in Maryland, more older ones Baltimore Sun That's as of March, the newest figures from the Mortgage Bankers Association. There's an argument brewing over why Maryland has a big backlog of pre-foreclosure and foreclosure cases -- the so-called "shadow inventory" that, odds are, will eventually ... Washington mortgage delinquencies up, foreclosures down Mortgage group: Loans past due and in foreclosure at 4-year low Mortgage delinquencies, foreclosures trend lower |
Congressman Filner Calls for Mortgage Foreclosure Protection for Servicemembers - Imperial Valley News
Congressman Filner Calls for Mortgage Foreclosure Protection for Servicemembers Imperial Valley News “We can do no less to protect their homes against mortgage foreclosure. I applaud my colleague Representative Cummings for fashioning a bill making important improvements to the Servicemembers' Civil Relief Act and for including language from my bill, ... |
House insurance gouge puts homes in danger - New York Daily News
 New York Daily News | House insurance gouge puts homes in danger New York Daily News Her homeowner's insurance had lapsed, and her lender, Citibank, had automatically tacked on new — much more expensive — insurance to her mortgage. She's now fighting to dodge foreclosure. “I'm sitting on the edge of the precipice now,” Burton, 62, ... Forced Homeowner Policies Assailed NY officials eye 'forced' insurance in foreclosures Force-Placed Insurance Payments Target of New York Hearing |