New Trend: 20-Year Mortgages

While 30-year fixed rate mortgages are still the most popular term for home loans a new trend of 20-year mortgages is gaining momentum and has become a realistic option for borrowers and especially those refinancing. Basically a 20-year loan term is an option to lower ones interest rate and shorten the term of the loan. This of course results in higher month payments than a 30-year, but with interest historically low the 20 year mortgage has actually become an affordable option. MSN Real Estate has taken a full look at this new trend in home loans so click here and check out the full article to make sure you are choosing the right loan term for you.  

Protecting Yourself From Fraud On Craigslist

While Craigslist may be a great place to find anything you might be looking for from a job, to antiques to your new home it can be a scary place where fraud can happen. Recently a new Craigslist scam has occurred where foreclosed homes are being advertised as rentals by fraudsters out to collect your credit information, take your money and run. These Craigslist ads look very similar to any other home ad and can be tricky to differentiate leaving renters completely unaware of what is happening to them until the point where they go to move into their new home and the keys simply don't work, or even to the point where they are all moved in with locks changed by fraudsters and being met at the door with the real listing agent and local sheriff. Freddie Mac has posted some great tips to help protect yourself in these situations. Click here to read the full article for more information.