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LoanPage.com Provides Critical Home Loan Resources Amid Rising Housing...

With sharp increases in housing costs, homeowners must search for fresh finance solutions to their mortgage problems. Between 2004 and 2005, median home prices rose 13 percent, up almost 50 percent over the preceding five years. In that same year, median income rose a mere 1.1 percent according to a report by the FDIC. Recognizing this growing crisis, LoanPage.com offers homeowners resources from mortgage calculators to advice columns to a state-by state directory allowing people to easily contact the mortgage companies that fit their needs (http://www.loanpage.com/mortgage-directory.aspxloan-type=NEWHOME).



The 2005 housing report by the U.S. Census Bureau states that nearly 20 million homeowners pay between 20 and 30 percent of their monthly income toward housing costs. Additionally, there are over 13 million homeowners who spend over 35 percent of their income on housing, an increase from 9 million just six years ago. This percentage of hard-pressed homeowners has significantly outpaced increases in median income.



Although housing prices have soared over the past few years, the average American'ss income hasn'st kept pace with those increases, says Francine L. Huff, author of The 25-Day Financial Makeover: A Practical Guide for Women.



Rising interest rates also threaten homeowners's ability to maintain their mortgage payments. As rates continue to climb, some of these people could find their monthly mortgage payments becoming more than they can handle, says Huff.



These rising housing costs have created a financial crisis for many households. Many homeowners now need home loan options to help them save their mortgages and property. At LoanPage.com homeowners can find rate quotes and industry articles to help them determine whether refinancing a mortgage is the right move. Glossary and Q&A sections help homeowners understand finance terms so that they can work confidently with a loan company.



LoanPage.com (http://loanpage.com) provides answers to many common questions regarding mortgage options, rates, and terms. Visitors can use LoanPage.com to find a loan officer in their local area, and find resources on a variety of home loans, including equity and debt consolidation loans.

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