There is a new relatively unheard of method of obtaining a mortgage which is intended for people with less than ideal credit or those who are first time home buyers. It is called co-buying. It is a name which is also synonymous with co-purchasing or co-signing. It has yet to gain major attention in the United States, but it has been rearing its ugly head in the UK and in Australia.

The basic concept behind co-buying is that you find someone to help you obtain your mortgage by being a co-signer and co-purchaser on your mortgage. This person is your “mortgage buddy”, who takes over part of the financial responsibility of your mortgage thus making you less of a risk for a lender. For a first time buyer this would appear to be an excellent way to get into real estate as fast as possible. More »« Less

UK Homeowners Struggling With Mortgage Payments

Yes it’s true. Other countries in the world besides the United States have populations struggling to make their mortgage payments. Our neighbors in the UK are showing signs of hardship as well today, the housing market remains primarily strong but these articles hint at a hidden picture which not everyone realizes exists, and if they aren’t careful with their borrowing, they may find themselves in this position as well.

Read up and enjoy a few of today’s mortgage headlines from the UK:

Homeowners Struggle to Meet Mortgage Payments

Thousands Risk All for Mortgages

Homes at Risk as Debt Rises

Weeks ago when reports began to filter in about the housing market finally slowing down dramatically, most of us dismissed them as usual media hype which has been forced on us for the two years during the housing market boom. All of the rumors about the big “bubble burst”, etc., seemed to find their way into the weekly financial news. Today however some continued trends are now hinting more than ever that the market is changing.

Congressionally chartered mortgage powerhouse Freddie Mac today reported that for the sixth consecutive week mortgage rates are dropping. 30 year fixed rate mortgages fell to 6.44% this week. 15 year fixed rate mortgages were down to 6.14%. Decreases in interest rates also occurred for 5 and 1 year adjustable rate mortgages.

The complete Freddie Mac findings can be found here:MORTGAGE RATES CONTINUE TO DRIFT LOWER AS HOUSING MARKET EASES BACK FROM RECORD HIGHS

No one person has been praised or criticized for the economic progress of the United States over the last 20 years than Alan Greenspan. Here’s his story.

Alan Greenspan

Alan Greenspan has led a prolific life in the financial industry. Many people consider him the single most powerful person in the country. With his February retirement approaching, let’s take a look at this very interesting man.

Born in 1926 in New York City, Alan Greenspan was a strong student as shown by graduating summa cum laude with a bachelor of science in economics from New York University. He followed this up with a Masters and Ph.D. in economics from the same university. More »« Less