Articles by Henry Savage
, the president of PMC Mortgage Corporation in Alexandria, VA, is a mortgage columnist whose work has appeared in numerous consumer, real estate, and mortgage publications. Mr. Savage welcomes your questions for possible use in this column, however because of the volume of mail received, Mr. Savage cannot answer questions individually.
Mortgage Bill is an Overreaction December 3, 2007 The Subprime Spillover and Meltdown Blame Game September 18, 2007 A Direct Plea to the Mortgage Industry July 16, 2007 The Zero Cost Refinance Program Explained June 1, 2007 If Your Loan Officer is Vague, Walk Out the Door April 19, 2007 Mortgage Solicitation Letters March 9, 2007 Alan Greenspan and the "R" Word February 28, 2007 Mortgage Insurance is Now Tax Deductible! Well, Sort Of January 31, 2007 Message to Sub-Prime Lenders: "As you Sow So Shall You Reap" December 19, 2006 Insane Real Estate Market is Long Gone November 17, 2006 First Step in Home Buying Process: Pay a Visit to a Qualified Loan Officer October 25, 2006 Homeowner Feels Cheated with Negative Amortized Loan Program September 21, 2006 After 17 Rate Hikes, the Fed Finally Pauses August 24, 2006 Creative Advertising? Heck No, It's False Advertising June 22, 2006 It's Not Too Late to Fix That ARM May 22, 2006 Message to ARM Holders: You had Plenty of Time to Convert May 11, 2006 95 Percent FHA Cash Out Refi's, Continued April 18, 2006 Is an FHA Refi "Mini-Boom" on the Horizon? March 21, 2006 Widow Gets Gouged By Fellow Church Member February 13, 2006 Should Holders of HELOCs Consolidate? Calculating Weighted Average Debt February 6, 2006 Yields Finally Flip -- Officially January 2, 2006 Real Estate Investment Opportunities: Make Sure You Do Your Homework December 26, 2005 Before Seeking Out the Best Rate, Choose the Right Mortgage Program November 28, 2005 Before You Speculate in Real Estate, Make Sure You Know What You're Getting In To November 9, 2005 Beware of Loan Officers Who Use Strong-Arm Tactics October 6, 2005 LIBOR-Based ARMs are Finally Out of Favor: Time to Fix that ARM September 14, 2005 Fed Lifts Rates for the Tenth Straight Time August 10, 2005 Questions Regarding a Home Purchase for a College-Bound Son August 8, 2005 Analyze Entire Mortgage Picture before Moving Forward July 7, 2005 Interest Only Loans: The Myths and the Risks June 23, 2005 How to Calculate a Home's Square Footage June 7, 2005 Are We Headed for an Inverted Yield Curve? May 24, 2005 If You're Confused About Your Mortgage Plan, Seek Out Competent Help April 14, 2005 The Washington, D.C. Metro Real Estate Market Still Insane March 17, 2005 Don't Mistake A "Payment Rate" For The Actual Interest Rate February 17, 2005 Option ARMs, Cash Flow ARMs And FlexPay, Oh My! - How Do You Keep Track? February 3, 2005 The Trade Deficit And Mortgage Rates: Should We Listen To The Doomsayers? January 17, 2005 The Issue Of Liquidity January 10, 2005 Fifth Rate Hike Of Year - A Big Fat Yawn December 23, 2004 Are LIBOR-Based Mortgages Still A Good Deal? December 9, 2004 Establish Objectives, Then Choose Mortgage November 18, 2004 Cash Required At Settlement: An Explanation November 11, 2004 To Pay Or Not To Pay Down - That Is The Question October 28, 2004 Interest Only Loans Part I: The First-Time Home Buyer October 14, 2004 Fed Raises Short-Term Rates, But Long-Term Rates Drop September 23, 2004 The Scoop On Qualifying Ratios September 16, 2004 Understand The Mortgage Program Before You Dive In August 26, 2004 The Scoop On Pre-Payment Penalties August 19, 2004 New-Found Equity Should Not Be Used As A Personal Piggy-Bank July 22, 2004 Retirees: To Mortgage Or Not To Mortgage July 1, 2004 Monthly LIBOR Still Rock Bottom June 24, 2004 To Sell Or Rent: A Difficult Decision June 10, 2004 Ten Year Forecast For The U.S. Housing Market: Strong June 3, 2004 More On Interest-Only Loans May 27, 2004 Taking An ARM When Rates Are Rising? Are You Crazy? May 13, 2004 Interest-Only Loans Are Not Suited For Everyone April 22, 2004 Metro Washington Area Real Estate: Part II April 1, 2004 One Word For Metro Washington Real Estate: Insane March 25, 2004 Owner Occupancy Issues February 26, 2004 Markets Reel After Fed Statement January 29, 2004 Confused About The APR? You're Not Alone January 9, 2004 Fannie & Freddie Announce New Loan Limits For 2004 December 24, 2003 Underwriting Process Becoming Easier For Credit-Impaired Borrowers December 8, 2003 The Scoop On Negative Amortization November 13, 2003 Fixed Rate Equals Insurance Policy October 23, 2003 Mortgage Possible Even With Low Credit Score October 2, 2003 What Happened To The Refi's? September 25, 2003 Non-Resident Alien Needs A Mortgage September 11, 2003 Divorce Can Complicate Mortgage Plan August 28, 2003 Mortgage Loans And The Secondary Market August 14, 2003 Investing In Rental Properties Can Be Risky July 31, 2003 Income Disclosure For The Self-Employed July 9, 2003 Fed Rate Cut Has Opposite Affect on Mortgage Rates July 2, 2003 Fed Hints at Deflation in Press Release May 23, 2003 Greenspan's Remarks Fuzzy, Noncommittal May 1, 2003 Coborrower With Bad Credit Blocking Loan Approval April 23, 2003 Tapping Into The Equity of Rental Properties April 11, 2003 Should You "Buy Down" Your Interest Rate? March 17, 2003 Interim Interest on a Refi March 4, 2003 Buying a Fixer-Upper? House Needs to be in "Marketable Condition" February 21, 2003 Where are Mortgage Rates Headed in 2003? February 5, 2003 Interest Only Loans Ease Monthly Obligations January 15, 2003 Federal Reserve Leaves Rates Unchanged December 12, 2002 LIBORmania November 20, 2002 Loan Rate Floats Away November 5, 2002 What is the Form 4506 and Why Do Lenders Want You to Sign it? October 2, 2002 Skyrocketing Property Values are Not Guaranteed September 4, 2002 Future Sellers Don't Have To Miss Out on Refi Boom August 21, 2002 A Second Home or Investment Property? August 9, 2002 Are Yield Spread Premiums Kickbacks? August 2, 2002 Automated Underwriting Decisions Can be Overruled July 24, 2002 Building Equity With Low Rates July 17, 2002 The ABC's Of The APR July 10, 2002 ARM Yourself With Information June 26, 2002 Continuing Property Appreciation is a Challenge for Appraisers June 19, 2002 Obtaining an Affordable Mortgage June 14, 2002 "Zero Cost" Mortgage Programs Keep Refinance Wave Alive June 5, 2002 Home Equity Loans Still a Bargain June 3, 2002 Obtaining a Mortgage after Bankruptcy May 29, 2002 100 Percent Mortgage Financing with So-So Credit May 22, 2002 Think Twice Before You Jump Ship on Your Lender May 8, 2002 Rent-Back Agreements May 1, 2002 Has Your Paid-off Mortgage Been Released? April 24, 2002 The LIBOR ARM Revisited April 17, 2002 The Self-Employed Catch-22 April 11, 2002 Prime Rate or Fixed Rate Home Equity Loan: Which is Better? April 3, 2002 Before Buying a Home, Make Sure You're Financially Ready March 27, 2002 The 103 Percent Mortgage Loan March 20, 2002 FHA Loan Payoffs and Phony Lock In Agreements March 13, 2002 PMI Alternatives March 6, 2002 Avoid Paying Private Mortgage Insurance February 27, 2002 Is it Best to Lock or Float Your Interest Rate? February 20, 2002 Double Payment of Real Estate Taxes Causes Bureaucratic Headache February 13, 2002 Greenspan's Take On The Economy February 6, 2002 When Is The Right Time To Prepay A Debt? January 30, 2002 Is A 4% LIBOR ARM Right For You? January 16, 2002 Will Your Home Improvement Pay Off? January 9, 2002 Which Is Better: More Down Or Less? January 2, 2002 What Do Truth-In-Lending Statements Really Say? December 26, 2001 Should All Borrowers Pay More For No Doc Loans? December 19, 2001 What To Do In The Face Of Rising Interest Rates December 12, 2001 Should You Refinance With A Shorter Term? December 5, 2001 Does Your Closing Date Make A Difference? November 14, 2001 Splitting The Difference In A Divorce October 31, 2001 The Case For Yield Spread Premiums October 24, 2001 How To Assure Loan Rates October 17, 2001 How To Profitably Refinance October 10, 2001 Standard Versus Itemized Deductions October 3, 2001 Rent-Versus-Buy: How Tax Deductions Really Work September 26, 2001 Fed Drops Key Rates In Aftermath Of Tragedy September 18, 2001 Can Lenders Make Loans On Future Income? September 5, 2001 The Case For Borrowing Less August 30, 2001 Should Mortgage Borrowers Await Federal Reserve Rate Reductions? August 22, 2001 Does It Make Sense to Pay Points? August 15, 2001
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