New research conducted by Yorkshire Building Society and yourmortgage.co.uk has revealed that 95% of people looking for a mortgage will use the internet at some stage, with one in five prepared to complete the full mortgage online.

When asked about the future, 79% said that they would consider applying for a mortgage online. With hundreds of mortgage products to choose from, internet search engines are the most popular way for people to find mortgage sites, although mortgage advertising and newspaper recommendations is how a further 25% of mortgage-hunters choose the sites they visit.
Once on the internet, 27% of people looking for a mortgage will only use it for research, while a further 39% said they would proceed as far as getting a quote. Interestingly, borrowers who already have a mortgage are more likely to use the internet for research and quotes, but are less likely to apply for an online mortgage than first time buyers.

Getting a mortgage can be confusing and frustrating.

To make it less so, the federal housing department has proposed an overhaul of the mortgage process, from application to closing.

The proposed regulatory changes are designed to do a number of things: make it easier to compare mortgage offers while shopping, force lenders to estimate closing costs more accurately, and ensure that borrowers know the terms of their loans.

Here are the changes that would have the biggest impact on consumers.

Also: Is a 'secured' card a good way to repair damaged credit?

With millions of Americans at risk of default and foreclosure on their mortgages, Simon in Florida has a question that’s on a lot of readers' minds. What happens if you can only make a partial mortgage payment?

What will happen if I only make a portion (half) of my monthly payment to the bank during this time of economic crisis? Will the bank foreclose my home? After all, I’m paying not the full amount, but it’s the only amount that I can send.
— Simon, Cape Coral, Fla.

Most lenders won’t take partial payment — so you’ll likely get the check back in the mail.

But you don't go straight to foreclosure by missing one payment. Foreclosure happens in stages: The first is when the bank decides you’ve officially defaulted on your loan. That usually means you’ve missed more than one payment.