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Some involve keeping your home (retention options):
- Forbearance: This option allows you to make reduced mortgage payments (or even skip payments) for a period of time.
- Reinstatement: This option allows you to make a lump sum payment for what you owe, sometime in the future.
- Modification: In essence you alter your mortgage, changing your interest rate and/or the term of your loan.
- Short sale: This is where you sell the house for less than what you owe and the lender considers that sufficient to settle the balance due on the loan.
- Deed in lieu of foreclosure: You hand over the deed to the bank rather than foreclose.
- Assumption: This option is where another qualified buyer assumes your mortgage and mortgage payments.
The housing crisis is acute in these areas.
This marks the first significant movement in average rates since March.
How to make the calculations on whether the option makes sense for you.
Consumers can take steps to avoid paying more.
With interest rates on savings accounts so low, it might make sense to pay down your mortgage early.
Yahoo! is among the most searched stocks on TheStreet.com. Here's what Cramer had to say about the stock recently.
Catch up on his thinking on the hottest topics of the past week.
Investors will have to deal with a Fed meeting and another flood of earnings and economic data.
Ensco International and Echelon have the potential to move higher in coming days.
See who made what calls.
The addition of video is helping telecom companies compete against cable and satellite companies.
The June West Texas Intermediate contract reflects selling pressure ahead of Tuesday's expiration. But stocks in the sector are generally trading higher.
See who made what calls.
Keep on top of the market and the critical information you need to make more profitable investing decisions.
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