Archive for 'Mortgage'
Mortgage Rates for Qualified Borrowers Only
22 September 2008With the government taking over Fannie Mae and Freddie Mac, the rate for 30-year fixed mortgages dropped to 5.79 percent from 6.26 percent. Such low rate may spurn borrowers to buy real estate properties. Unfortunately, they will need to make a 20 percent down payment aside from a 740 or more credit score.
Foreclosure Buying: The Importance of Mortgage Pre-Approval
13 August 2008With market conditions clearly favoring buyers over sellers, it is not surprising that you would like to take a share of the pie and purchase a foreclosure property for its good return potential. However, it is important for you to get pre-approved for a mortgage loan first before you start shopping for one of these distressed properties
Falling Victim to Mortgage Fraud
27 June 2008Buyers of real estate properties, even foreclosure homes, should be cautious about mortgage fraud. Falling victim to one can prove to be a painful experience, both financially and emotionally. As the saying goes, prevention is always better than the cure. Even if you are dealing with a supposedly-reputable mortgage provider, you should still be able to protect yourself from fraud.
New Florida Law Protects Against Mortgage Fraud
25 June 2008For the month of May, Florida posted the 4th highest foreclosure rate in the nation, with one out of 228 homes entering some stage of foreclosure. Considering this, it is not surprising that the local government is doing everything in its power to stem the rising tide o foreclosure.
Poll Revealed 50% of Mortgaged Americans Worried about Foreclosure
16 June 2008In a recent poll commissioned by the American Bar Association, it was discovered that about 50 percent of Americans who currently have a mortgage are having concerns about staying in their homes and avoiding foreclosure.
Retirement funds turn into Mortgage Payments
29 April 2008According to retirement plan administrators nationwide, homeowners are cashing out their 401(k) accounts citing hardship as the reason for the withdrawals. The number one hardship being revealed by this group of individuals is to stop foreclosures. Traditionally, people could take loans from their 401(k). However, loans just won’t keep their homes from appearing on foreclosure listings. Foreclosure homes are devastating to the economy and to the public, as everyone suffers.
Mortgage Rates for 30- and 15-Year Rise
16 April 2008The mortgage industry received yet another bad news when rates for the 15- and 30-year mortgages rose to 5.42% and 5.88% respectively, for the week ending last April 3. Considering the problems in the housing market, the increase in the mortgage rates is a severe blow especially for buyers who are already having a hard time getting approved for financing.
Fed Indicts Mortgage Fraud Perpetrators
28 March 2008In Sacramento, Federal prosecutors have discovered mortgage fraud activities that have resulted to 100 homeowners losing almost $13M in equity. The said scheme is being conducted by a group of locals led by Charles Head.
White House: Helping Buyers by Simplifying Loan Process
17 March 2008The White House is set to unveil a new proposal that will provide potential home buyers with basic mortgage terms information and savings in closing costs that amounts to $700.
MFA Mortgage Hopes to Sell Assets to Improve Leverage
13 March 2008In order to reduce their debt-to-equity leverage, MFA Mortgage Investments Inc is planning to sell assets. The decision comes in the wake of the current financial crisis in the credit industry.
