The Sun's Financial Diary

We bought our current house in April 2010 and since then, we had refinanced our mortgage three times already, bringing the interest rate of our 15-year fixed mortgage from 4.25% of the original loan all the way down to 2.875% when we refied the last time in May (you probably can get a better deal [...]

When we did our last mortgage refinance exactly one year ago this time, we thought we were done with it because at that time, the nationwide mortgage rates were at historical lows and the rate we got, 3.875% for a 15-year fixed loan, was as low as we could get back then. Though the last [...]

Many families in America are continuing to fight the battle with foreclosure.  Too many are losing.  In response to the ongoing mortgage crisis, the government has announced a new tool that it hopes will help stem the tide of foreclosure and keep more families in their homes.  A couple of weeks ago, Washington unveiled the [...]

We bought our house around this time last year after more than three months of searching and negotiating. Even though it is believed that winter may not be a good time to buy a home (we started looking in December 2009) because of a smaller inventory, the purchase was made as we were trying to [...]

The mortgage industry says it’s dishonest, irresponsible, dishonorable, and even anti-social. They term it as unscrupulous behavior. What could they be referring to? They’re referencing the latest phenomenon of homeowners walking away from their underwater mortgages. What’s an Underwater Mortgage? Well, that has become a pretty common occurrence these days with the debacle that has [...]

You probably know people who are having problems paying their monthly mortgage loans. In the midst of this crisis, who doesn’t know at least one? Homeowners in distress can remain hopeful in spite of the current crisis. To help responsible homeowners who have been affected by the economic crunch, the Obama administration has laid out several [...]

We had a friend, who moved his family from New Hampshire to Virginia last year as we did, come over last weekend. During our chat, he mentioned that they are also looking to buy a house in this area and since they are first-time home buyer, he wanted to see if I can share my [...]

When we began to look for a house to buy late last December, we planed to have the purchase closed before May so that we could take advantage of the $6,500 homebuyer tax credit from the government. That’s why we started well ahead of the deadline to give us plenty of time to find the [...]