Archive for 'Mortgages'
Emergency Foreclosure Relief Kit Review
If you are falling behind on your home payments you may be wondering what to do. You could spend thousands of dollars on a loan modification company that may or may not be successful in getting your mortgage terms changed, or you could do it yourself and be armed with all the knowledge you need [...]
Full StoryB of A's Move to Reduce Mortgages Could be Foreclosure Turning Point
There is finally good news for the millions of homeowners who find themselves under water on their mortgages. On Wednesday the nation’s largest provider of home loans, Bank of America, announced new steps to forgive some mortgage principal to keep homeowners out of foreclosure. Unlike past program which have focused on restructuring loans to make [...]
Full StoryInterest-Only Mortgages Are Getting Harder to Obtain
Freddie Mac, one of the two main government-sponsored institutions that set lending standards for home mortgages announced recently that it will be phasing out interest-only loans. This is expected to drastically shrink the number of interest-only mortgages available to consumers. Freddie Mac has already begun the phase-out after losing money on the loans over the [...]
Full StoryWhen Is It Really The Best Time to Buy A House?
If you talk to any real estate agent you’ll hear the same mantra: it’s a great time to buy a home. Realtors said it in 2001 when home prices were climbing steadily, they said it when prices peaked in 2005, and they continue to say it today. So what’s the real answer? There a couple [...]
Full StoryReverse Mortgages Pros and Cons
If you are a senior who has owned your home for awhile and are thinking about your next financial step, it is important to consider reverse mortgages pros and cons. These types of loans can be a great option for many people over age 62 who want to tap into their home’s equity without selling [...]
Full StoryHousing Sales Rise, Aided by Falling Mortgage Rates
In further signs that the housing market is finally recovering after three years of turmoil, new data shows that home sales have increased and mortgage rates have again dipped below 5 percent. According to mortgage company Freddie Mac, the average for 30-year fixed rate loans was 4.94%, down from 5.05% last week. These low home [...]
Full StoryThe Fed Slows Down Emergency Lending Programs
In a sign that the Federal Reserve sees the economy improving and the housing market bottoming out, it has decided to slow down emergency lending programs for home buyers. The decision indicates the Fed is moving its stance from managing the financial crisis to nurturing an economic recovery. This is the second slowdown announced by [...]
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