According to research of the foreclosures during the past 7 years, chief among the cited reasons were lack of down payment, undisclosed debt by the buyers, reduced credit requirements, and unstable income. In response to greater accountability to Washington lenders …
There’s been a lot of rhetoric coming from both sides of the congressional aisles these days; from Democratic and Republican parties and even a few in between. But recently the media has begun reporting government shutdown fallacies as facts. I’ve …
FAQ – How Will a Government Shut-down Delay My Mortgage Loan Application? Read more »
Private Mortgage Insurers leading the way in housing recovery One of the earliest indicators of the housing meltdown which began in 2007 was that issuers of Private Mortgage Insurance (PMI) began to contract their underwriting guidelines for issuing PMI …
Private Mortgage Insurance helps lead the way in the Housing Recovery Read more »
One possible enhancement to HARP known as HARP 3.0 is pushing forward the eligibility date from Ma31, 2009 to 2010. Some experts suggest that there are between 27 and 43 billion dollars’ worth of unpaid principal loan balances that could benefit from such a move.
Even though the Great Recession has been with us for more than 4 years, and Short Sales have been around for years, nobody has really been able to find a way to deal with them very efficiently. Fannie Mae is attempting to change that with the launch of the new tool they call The HomePath for Short Sales tool. The tools is divided into three categories:
Today the federal government announced new rules that may allow homeowners who are struggling borrowers to refinance their mortgages at today’s ultra-low rates by reducing monthly payments for some homeowners. The goal is that the monthly savings could provide a …
Important Changes to Home Affordable Refinance Program (HARP) Read more »
Obama: “Subprime lending immoral, not illegal” http://ow.ly/6PE2P Today the president took a question from a reporter who asked him why his administration had failed to file suit or enforcement action against corporate leaders for the 2008 financial crisis that ultimately led to numerous bank, insurance, …
These days there seems to be no shortage today of people or politicians angry at mortgage companies. Most however tend to be customers of the nations five largest mortgage servicers; Bank of America, Wells Fargo Home Mortgage, JP Morgan Chase & Ally Financial. The source …
The Trouble With Trial Mortgage Loan Modifications Read more »
Because of the plethora of natural disasters across the country it occurred to me that there may be a lot of Buyers and Sellers whose purchase or sale or mortgage refinance has been delayed for reasons they simply do not understand. This post is intended to be an …
FEMA Declared Disaster Area – Loan Application in Process Read more »
