Not every loan will qualify for the making homes affordable modification program initiated by President Obama. The loan must be owned by Freddie or Fannie. There are mortgage companies that will not disclose that your loan is backed by or owned by Freddie Mac or Fannie Mae, and may just advise you that you were… Continue Reading
In a recent report Freddie Mac has been trying to soothe everyone and using words such as “orderly and moderate cooling”. Last I checked we were not talking about an apple pie. Carefully worded statements and a soothing tone will not calm down consumers and business men and women who stand to lose a lot of… Continue Reading
The mortgage rates in Hawaii had been on the rise for some time now. I can understand that, who doesn’t want a home in beautiful Hawaii? I would move their if I could afford it, but alas I can’t and the way that rates were going up, it appears that many others couldn’t as well.… Continue Reading
Of course, this only works if you own the home fully yourself (well, only works to the best benefit) … but why pay a commission to a mortgage agency or bank? Offer the mortgage to the buyer yourself. Grab your lawyer, set up an amortization statement and statement of purchase, and take the down payment,… Continue Reading
In a shocking move Ameriquest a large mortgage provider, has closed 229 retail branches. They are also laying off more than 3,800 workers. The company said it will consolidate its branch operations into four regional mortgage production centers in Arizona, California, Connecticut and Illinois, and handle more corporate matters from its headquarters in Orange, Calif. ”The… Continue Reading
Delinquency rates are on the rise. They jumped “more than 7%, to 4.7% in the fourth quarter of 2005, from the year before,” according to the Mortgage Bankers Association. Despite this, many lenders aren’t cutting back on exotic mortgages — in fact, they’re “charging ahead on such high-risk loans full tilt.” They claim that cutthroat… Continue Reading
Recently, we found a need to do some work on our house. Our roof had a leak, and the guys we had come take a look at it said they wouldn’t touch it without putting a whole new roof on. That, combined with a desire to lock in a fixed rate on our mortgage and… Continue Reading
Mortgage Updates brings you the very latest news from the mortgage and home loan industry. This is yet another weblog brought to you by Niner Niner. Niner Niner is a collaborative media company that pays you, yes you, to blog about your favorite topics! If you’re interested in mortgages and would like to write for… Continue Reading