Reuters Money

What new jumbo mortgage rules mean for expensive zip codes

September 8, 2011

On Oct. 1, the size of mortgages eligible for purchase by Fannie Mae and Freddie Mac will shrink. That isn’t necessarily a big deal in most parts of the country; the new lower limit of $625,500 — down from today’s $729,750 — still is big enough to cover most homes in almost all markets in the United States.

Just got a mortgage? Beware of the junk mail

August 18, 2011

Buying a new home (or refinancing your old one) comes with a typically unwelcome peril: a deluge of junk mail.

Time to refinance? How low can mortgage rates go?

August 12, 2011

Mark Sass and his wife Jan decided to refinance the mortgage on their Cincinnati, Ohio, home on Friday, just days before the Federal Reserve pledged to keep rates near historic lows through the first half of 2013.

What will happen to you if home mortgage tax break ends?

July 28, 2011

Aside from getting a piece of the American dream, one of the reasons people ostensibly buy homes in the U.S. is for a nice tax break. About 35 million households claimed the mortgage interest deduction in 2009, according to a recent report from the Joint Committee on Taxation.

CORRECTED: Who benefits from student loans and educational tax benefits?

July 13, 2011

On Wednesday, we looked at mortgage debt and the home mortgage interest deduction, based on new data released in a Joint Committee on Taxation report. Today, we’ll look at student loans and their corresponding interest deduction.

Mortgage Poll: Are strategic defaults ethical?

June 23, 2011

I know a guy — let’s call him Fred — who has a plan for walking away from his home and the $400,000 mortgage on it.

After the housing bust, what’s next?

June 17, 2011

Beyond the double-dip U.S. housing recession, is there a future for the American home market? What I see emerging as growth magnets are established city enclaves and “new urbanist” communities that resemble old-style neighborhoods without the sprawl. They are close to public transportation, walkable and loaded with culture and amenities. They personify the new American dream.

Coming soon: A shorter, clearer mortgage form

May 18, 2011

How much are you borrowing and how much will it cost to pay it back? Those are the key questions that a mortgage disclosure form should answer, and the Consumer Financial Protection Bureau is trying to develop one that will will give it to consumers straight.

House-hunting? Don’t buy until you read this

May 18, 2011

By Jennifer Merritt

Spring is home buying season, so the common wisdom says. In the winter, fewer homes go on the market and fewer buyers trudge out in chilly temperatures to look. Summer is filled with vacations, keeping would-be buyers away. And the fall, well for families, is the start of school and not the time to make a big move. That makes spring the sweet spot for finding a home and closing on it before summer vacation or the new school year.

AARP lawsuit: Reverse mortgages cause foreclosures

March 11, 2011

Realtor Mac McCollum stands in front of a foreclosed home in Bullhead City, Arizona, November 4, 2009.  REUTERS/Lucy NicholsonReverse mortgage ads often portray contented silver-haired couples enjoying the comfort of home, confident that their decision to tap home equity will bring lifelong financial security.