The Truth About Mortgage Blog

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Welcome to a warm, friendly, and most importantly unbiased place to learn about mortgages, ideally before you make contact with a real estate agent or lender. The more you know, the better you’ll feel, and hopefully all that hard work will help you snag a lower mortgage rate too! View all mortgage help topics to get started or check out the latest mortgage tips and news below.

Latest Posts

Beware of Foreclosure Assistance Programs

September 16, 2007 No Comments »

As foreclosures continue to rise, more “angels” are on the lookout for people to “save”. If you’re behind on your mortgage payments, you may have noticed an increase in solicitations via mail or telephone from companies offering to help you ... Read More »

Ex Pro Wrestler Enters Mortgage Business

September 14, 2007 No Comments »

If you’ve ever watched “pro” wrestling, you’ve undoubtedly heard of Ric Flair, the undisputed king of flair, and an all time great in the eyes of thousands of adoring fans. Well, the man has somehow body-slammed his way into the ... Read More »

First Franklin Said to be Firing Staff

September 12, 2007 No Comments »

The message boards are on fire today with news of even more layoffs, or, ahem, firings. According to one poster over at Brokeroutpost.com, First Franklin is looking to fire half of its staff for non-performance. Apparently the mortgage lender set ... Read More »

Washington Mutual Closing Three Fulfillment Centers

September 12, 2007 No Comments »

I received word today that Washington Mutual Home Loans in the process of cutting more employees, and that the bank will be closing down three Loan Fulfillment Centers including one located in San Diego, CA and another in Anaheim, CA. ... Read More »

Struggling Lenders Carry Nasty Side Effects

September 11, 2007 No Comments »

As more mortgage lenders go belly-up, associated problems are beginning to rear their ugly heads. Such was the case when First Magnus Financial closed down, leaving employees without paychecks and healthcare, prompting ex-employees to launch the “Sue First Magnus Financial ... Read More »

Survey Reveals Major Problems in Wholesale Mortgage Industry

September 11, 2007 No Comments »

According to a survey conducted by Washington-based Campbell Communications, roughly 33% of home purchase closings originated by mortgage brokers in August were canceled. The survey of 1,744 mortgage brokers took place during the week of August 23-31, with its creators ... Read More »

LendingTree Cuts Option Arm and Bad Credit Ads

September 10, 2007 No Comments »

Mortgage offer aggregator LendingTree sent out an e-mail to affiliates today asking them to remove all advertising containing verbiage relating to option-arms, MTA loans and “bad credit”. The e-mail said that in recent weeks LendingTree had removed such lending rates/offers ... Read More »

Lowermybills Dancing Alien Ads Are Back!

September 10, 2007 No Comments »

Dancing aliens rejoice. The ads are back. Apparently dreams do come true sometimes. A few weeks ago, a blogger from the New York Times had commented that the silly dancing aliens, grooving silhouettes, and freaked out office worker advertisements had ... Read More »

Decision One Layoffs

September 10, 2007 No Comments »

I’m hearing that Decision One, the non-conforming wholesale mortgage arm of HSBC, has possibly laid off a few hundred employees. A source “confirmed” the layoffs, informing me that the Phoenix sales center had been eliminated, and that several sales managers ... Read More »

Foreclosure Tax Burden

September 9, 2007 No Comments »

With the news of adjustable-rate mortgages due to reset and the continued threat of declining property values, the hot word on the street seems to be foreclosure. But before you give in to foreclosure, consider the tax implications, which if ... Read More »