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28 Dec 2009Mortgage Rates – Upward trend seen in fixed mortgage rates
The key catalyst for interest rates going forward will be the end of a Federal Reserve program that buys a sizable chunk of mortgage-backed securities issued by firms such as Fannie Mae and Freddie Mac. That program succeeded in immediately pushing mortgage rates well below the [...]
Mortgage Time – It says in order to claim the 1st time home buyer credit you have to have a contract showing your mortgage?
Question about it says in order to claim the 1st time home buyer credit you have to have a contract showing your mortgage :
I bought my home for cash last year and [...]
In: Mortgage| banking| financial| refinancing
23 Dec 2009Mortgage Refinancing – Is It Time to Refinance the Mortgage?
Refinancing for a lower monthly mortgage payment or to change the terms/length of your loan may prove beneficial to you if you are interested in saving money right now. For example, if you are currently paying 6.000% for your current loan, Bank of America is offering [...]
In: Insurance| Mortgage| banking| financial| refinancing
23 Dec 2009Mortgage Home – Consumer agency could protect future home buyers and mortgage borrowers
Though no specific types of loans are prohibited in the legislation itself, the CFPA almost certainly would limit or closely regulate mortgages with extra layers of risk — teaser rates, adjustable payments, negative amortization and options for borrowers to pay as little as [...]
In: Insurance| Mortgage| banking| loan| refinancing
23 Dec 2009Mortgage Home – What happens to a second mortgage when a home is purchased at a foreclosure auction?
Question about what happens to a second mortgage when a home is purchased at a foreclosure auction :
I am going to bid on a house at foreclosure and it has a 1st mortgage of $280K and a second [...]
Mortgage Deals – Great deals on mortgage modifications, including 2% interest
At 8 a.m., homeowner Rodney Wynn was drowning under his $1,800-per-month, 13.4% interest rate mortgage. But by 5 p.m., he had found some relief: a 4.7% loan with a $970 monthly payment.
Wynn, a program director for a youth home in North Carolina, is just one [...]
Reverse Mortgage – Government mulls ‘reverse mortgage’ program for seniors
A reverse mortgage (or lifetime mortgage) is a loan available to seniors, and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner’s obligation to repay the loan is deferred until the owner dies, the home is [...]
In: Mortgage| banking| financial| loan| refinancing
18 Dec 2009Mortgage Rates – Despite low mortgage rates, banks balk at refinancing
An estimated 6 of 10 homeowners with mortgages have rates that exceed the 4.8 percent rate currently available on 30-year fixed mortgages, the least risky form of home loans. Nevertheless, refinancing applications have fallen 57 percent since early January, when the Federal Reserve began to [...]
Mortgage Insurance – Fitch Downgrades CMG Mortgage Insurance Company on Increasing Delinquencies in Insured Portfolio
Fitch Ratings has downgraded CMG Mortgage Insurance Company’s (CMG) Insurer Financial Strength (IFS) rating to ‘BBB’ from ‘A+’. The Rating Outlook remains Negative.
Mortgage/insurance escrow. how do they work? If you want a fixed rate on your mortgage and insurance, do?
Question about mortgage/insurance escrow. how do they work? If you want a fixed rate on your mortgage and insurance, do :
they both go together in the final amount to be paid in the mortgage?
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