Tag Archives: mortgage
HARP 2 details emerge
For underwater homeowners who want to refinance their mortgages, the details of HARP 2 are coming into focus.
HARP 2 is a liberalized revision of the Home Affordable Refinance Program. (See Bankrate’s HARP page.) HARP’s goal was to allow homeowners to … Continue reading
Does FHA help rich homebuyers?
The purpose of the Federal Housing Administration, or FHA, is being debated as Congress wrangles over whether to restore higher mortgage limits for federally insured loans. In 2008, limits were raised from $417,000 to as high as $729,750 in expensive a… Continue reading
Freddie Mac wants $6 billion
Freddie Mac, the government-controlled mortgage company, is asking for an additional $6 billion from taxpayers after experiencing a third-quarter loss of nearly $2 billion more than the third quarter of last year.
According to the Associated Press, th… Continue reading
Did your lender screw up?
If your house was in foreclosure in 2009 or 2010 and your mortgage servicer misbehaved, here is some good news.
You can request to have your foreclosure case reviewed by an independent firm. If the reviewer determines that you suffered “financial injur… Continue reading
Forget loan forgiveness
You may have heard talks that lenders are being pushed to help struggling homeowners by forgiving part of the principal owed on their mortgages.
Forget it. It’s not going to happen. That’s pretty much what Federal Housing Finance Agency Acting Direct… Continue reading
Mortgage help falls short
Remember back in 2009, when President Barack Obama introduced the Home Affordable Modification Program, or HAMP, by touting its goal of helping 3 million to 4 million borrowers keep their homes? The program has actually provided mortgage relief to few… Continue reading
Pay off your mortgage?
During times of economic instability and employment uncertainty, many people wonder if they should pay off their mortgage, especially as they get closer to retirement.
One rule of thumb used to be (all rules of thumb seem to be under scrutiny these day… Continue reading
Government exiting mortgage biz
As the housing crisis drags on, the government is seeking to ease out of the mortgage business and let the private sector take control. That worries some analysts who don’t want to see any more potential setbacks in a recovery.
Fannie Mae and Freddie M… Continue reading
Protests and winning back trust
The mortgage banking industry wants to win your trust back. Lenders and servicers realize their reputation is tainted but they say they are determined to reverse that.
That was a common theme among lenders who spoke during the first day of the Mortgage… Continue reading
Protests and winning back trust
The mortgage banking industry wants to win your trust back. Lenders and servicers realize their reputation is tainted but they say they are determined to reverse that.
That was a common theme among lenders who spoke during the first day of the Mortgage… Continue reading