A conference will be held by the Obama Administration on Aug. 17 to discuss the future of Fannie Mae and Freddie Mac, the mortgage companies responsible for nearly half of all US mortgages. The administration has received harsh criticism for not developing a particular plan for these two companies, and will attempt to revolutionize the [...]
Loan modification is taking its lumps as new reports show many of those able to secure a lower mortgage rate are still defaulting.
The Treasury Department released figures last week showing that almost three thousand homeowners in the government’s loan modification program have failed to make the modified payments, resulting in default. This is more than [...]
The good old days of no-doc mortgage loans are gone. This is mainly due to banks handing out loans like candy to people that lied on their applications.
Prior to 2009, getting a great mortgage rate required a 600 or better credit score. In April of 2010, 720 or better is the desired score. Reaching this [...]
Losing your home to foreclosure is one of the most traumatic things that can happen to a homeowner. A foreclosure can haunt you long after your home is taken away – it has a devastating effect on your credit score for years to come.
If you are having trouble keeping up with your monthly payments then [...]
In a tough economy most people are thinking of ways to tighten the belt buckle, spend less, and save more. One of the best ways to start is by improving your credit score.
By improving your credit score you can lower what you pay each month on your mortgage, credit cards, and car loans. You can [...]
Unfortunately, foreclosure may be the biggest buzzword of 2010. Foreclosure is the worst nightmare for a homeowner… and a nightmare that haunts your credit score long after you move out of your house.
The key to avoiding the bank kicking you out of your home may be communication. All too often people put off late notices [...]
The average rates for a mortgage in the United States have once again fallen below the 5 percent mark, according to Freddie Mac.
The mortgage buyer’s weekly survey indicated that the national average interest rate for mortgages was at 4.97 percent, which is below the week before rate of 5.01 percent.
The weekly survey polls 125 of [...]
