3 Ways to Avoid Foreclosure

For many homeowners, foreclosure is viewed as a way out from their mortgage payment. With unemployment at an all time high, and many property values still down, making payments on a loan can be difficult for many people. However, contrary to a popular belief that a foreclosure can be a fresh start – foreclosures actually affect credit scores negatively, and cause higher interest rates for future loans.

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Mortgage Rates Rise Above 5%

You hear it on the news all the time: mortgage rates are not going to stay this low for long… Well, that time may have finally come. Reuters reported today that mortgage rates rose for the first time in three weeks to over 5%. The numbers are pulled from a survey from Feddie Mac, which is the second largest U.S. mortgage finance company.

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