Get Mortgage Wise on Active Rain

"We're so sorry, Uncle Albert We're so sorry if we caused you any pain We're so sorry, Uncle Albert But there's no one left at home And I believe I'm gonna rain" Can you say "We're so sorry" 160 times? And do it again a million times over? That's exactly what one credit bureau promised last week...

Guess What Number Could Doom Your Loan Now (Hint: It's Not Your Credit Score) "I'm thinking of a number . . ." Unless you've been living under a rock for the past 10 years, you've seen the ubiquitous FreeCredit.com commercial featuring a too-smart-for-his-own-good looking guy in a director's chai...

There's a mortgage ad running on Chicago area radio stations that seems to be aimed at credit-challenged borrowers with limited cash. The guy with the "perfect" mortgage suggests that even these borrowers can still get a mortgage. His "secret" weapon? The FHA mortgage. It's an oldie, but a goodie...

According to the FBI's 2007 Mortgage Fraud Report, more than 46,000 cases of suspected mortgage fraud were reported last year. This led to bank losses exceeding $813 million. If you're looking for reasons why mortgage underwriting is measurably more difficult in 2008 -- add "mortgage fraud" to t...

If you were to stop what you were doing and give yourself 10 seconds to list everything in your wallet or purse, what would be on your list?Cash, driver's license, credit cards, debit cards, membership ID, a receipt or two and a subway card -- that's my list.If after making your list, you actuall...

 When real estate news is reported on television or in the papers, it's usually told as a national story.  Unfortunately, stories like these aren't helpful for everyday Americans because real estate is not a national market.  Real estate is local.The graph above was used by Fed Chairman Ben Berna...

Four times annually, the Federal Reserve surveys 84 different banks about general banking conditions.One of the survey questions asks about current mortgage lending standards and whether they are loosening or tightening.The chart at right is from the April 2008 survey and it illustrates what we a...

The Federal Reserve announced yet another rate cut of .25% to the Federal Funds Rate last week -- its 7th since September 2007. University of Chicago Economist and Nobel-laureate Milton Friedman had a favorite way of describing what the Federal Reserve did on Wednesday. He called it the Fool in t...

The typical way to order a Big Mac® looks something like this: step up to the counter, order your burger, pay and eat. Your order taker doesn't ask whether you really need a Big Mac®. Nor does he question whether it's the right burger given your unique dietary needs or taste preferences. And when...

The ubiquity of "free" credit reporting services like FreeCreditReport.com, TrueCredit.com, and AnnualCreditReport.com have helped breed a new generation of credit-aware Americans.Because credit ratings have more importance to everyday life than in years past, this is a welcome development. For e...