HARP Refinance Program Extended
By: Liz Freeman
March 2nd, 2010
The Home Affordable Refinance Program (HARP) has been extended for another year, hopefully to get more underwater borrowers into cheaper financing. The program, which allows borrowers with Fannie Mae and Freddie Mac mortgages to refinance up to 125% of the current value of their property, has so far helped only about 125,000 of the three to four million borrowers expected to benefit from it.
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StumbleUponThe Future of Fannie and Freddie?
By: Liz Freeman
February 24th, 2010
The National Association of Realtors has put together a proposal for converting Fannie Mae and Freddie Mac into government-owned non-profit agencies, a move the industry trade group feels is essential to keeping the lowest mortgage rates available to most American home buyers.
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Lenders Better at Policing Mortgage Fraud — Signs to Watch For
By: Liz Freeman
February 15th, 2010
Mortgage fraud is any attempt to deceive a party in order to induce participation in a mortgage transaction. And while lender fraud has gotten the bulk of the media coverage, according to the FBI’s Web site, the majority of mortgage fraud is perpetrated by borrowers against lenders. However, while government has professed to being very interested in protecting the consumer, it’s pretty much leaving it up to the lending institutions to protect themselves. Here’s what they look for:
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How Are Borrowers Expected to Buy and Finance Responsibly When Even the Mortgage Bankers Association Can’t?
By: Liz Freeman
February 10th, 2010
It’s not surprising that hundreds of thousands of laypeople with little financial education got into financial trouble, buying property they couldn’t afford and finding themselves unable to pay their mortgages. But when the experts at the Mortgage Bankers Association make the same mistake, that’s newsworthy.
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January 19th Best Mortgage Interest Rates and Lock Recommendation
By: Liz Freeman
January 19th, 2010
LOCK ALERT *** RATES HOLDING, LOCK BEFORE THURSDAY ***
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Taxpayers Unable to Claim Home Buyer Tax Credit, New Form Released Today
By: Liz Freeman
January 15th, 2010
Those who anticipate on using their home buyer tax credit any time soon had better rethink their plans. Home buyers eligible for the $8,000 or $6,500 tax credit will find it tougher going than those who claimed it on their 2008 tax returns. Anyone who planned on using it to make their first few mortgage payments will have to come up with other funds fast, or risk damaging their credit right out of the gate. And those who borrowed against it with a refund anticipation or other loan will be paying a lot more for the money than they expected. Refunds are expected to take a minimum of four months.
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January 15th Best Mortgage Interest Rates and Lock Recommendation
By: Liz Freeman
January 9th, 2010
*** LOCK ALERT *** RATE SHEETS WILL BE BETTER TODAY ***
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January 14th Best Mortgage Interest Rates and Lock Recommendation
By: Liz Freeman
January 9th, 2010
*** LOCK ALERT *** Rates Steady After Spectacular Treasury Auction ***
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January 13th Best Mortgage Interest Rates and Lock Recommendation
By: Liz Freeman
January 9th, 2010
*** LOCK ALERT *** Mortgage Rates Flat Ahead of Treasury Auctions ***
New Mortgage: How Much Can Shopping Really Save You?
By: Liz Freeman
March 10th, 2010
You don’t know what the best mortgage rate available is unless you do some checking. What difference does it make? A lot. Paying 5.25%, means a difference of instead of 5% on a $300,00 mortgage means paying $47 more per month, and $17,123 more over the life of the loan — probably worth a few hours of shopping when you get your next refinance.
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