Government’s Refinance Program Gets an Extension
Still looking for help with your mortgage loan? The government has extended its Home Affordable Refinance Program for another year. The refinance program was set to expire in June, but the Obama administration hopes that a larger chunk of distressed homeowners can be helped.
Originally the gover…
No, No, No, Yes.
I live in Arizona and pretty much every home within a 2 square mile radius of my home has dropped 50-60% in value since 2006.
Which means terms like loan modification, short sales and foreclosure pretty much dominate every neighborhood bar b q party at the local park.
Recently, I was at a neighborho…
Stated Income Loans: The Unexpected Victims
It wasn’t all that lengthy ago that a busboy could walk into a mortgage lender, say he made $100,000 per year and get a home loan based on that number.
The loan programs that were available had all different kinds of names, but they all pretty much did the same thing — allow public to ge…
Mortgage Loan Delinquencies Drop
The percentage of mortgage loans that were delinquent at the end of the fourth quarter 2009 fell to a seasonally adjusted rate of 9.47% from 9.64% the previous quarter, according to the Mortgage Bankers Association (MBA). The notes seem to indicate that fewer homeowners are getting behind on mortg…
Florida Countrywide Settlement Means Checks To Homeowners
Here is the first thing like that I have seen – but possibly not the last:
Approximately 2,700 homeowners who had a loan with Countrywide are getting a check for just over$6,000 and total nearly $17 million as a aftermath of a settlement with the Florida Attorney Generals office.
According t…
Will Interest Rates Jump When The Fed Quits Buying Mortgage Bonds?
By now, hopefully everyone knows that mortgage rates are not determined by the Federal Funds rate – they are determined by the market of buying and selling mortgage bonds.
If you still think that Ben Bernanke sets the mortgage rates by announcing the Fed has raised or lowered interest rates…
FHA Loan Defaults Exceed 9%
When house prices drop, falling values have ripple effects on the economy. Jobs are lost, credit becomes difficult to obtain and society are forced to manufacture solid decisions regarding what monthly bills they can afford to pay.
And increasingly, it appears as whether many society are opting to n…
