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November 24, 2010

Open vs. Closed Mortgages: The Surprising Winner Is…

Home-equity lines-of-credit (HELOCs) and open variable-rate mortgages are tempting to borrowers because they can be paid off with no penalty. Are they worth it? Using current interest rates, today's post puts the numbers to the test and compares the cost of open- vs. closed-term financing solutions. As you will see, the results are both surprising and definitive.
October 27, 2010

Waiving Your Financing Condition

If you waive your financing condition without a fully qualified commitment from your lender, you are taking a substantial financial risk. That said, most people still do this as a matter of course. Today's post explains why this happens and gives you some tips on how to minimize your exposure if you decide to waive financing without a firm lender commitment in place.
October 6, 2010

Fall Mortgage Market Update (2010)

Today's post is my quarterly update on the state of the mortgage market. It focuses on deleveraging, a necessary but painful process that is acting as a drag on economic growth (particularly in the US), and explains why I don't think rates aren't going anywhere fast.