December, 2009 New Good Faith Estimate Great for Consumers!
Set to release January 1, 2010, the new good faith estimate that the government has mandated is a great development for consumers.
No longer will dishonest mortgage brokers be able to pull scams like bait and switch tactics, or low-balling settlement fees to "earn" business. With the new good faith estimate, the quote you receive from your broker will be locked in, so you will be guaranteed the cost of your loan will not ...
First time home buyer? Credit problems in your past?
If you are trying to buy a home, and it is either your first time, you have had some credit issues in the past, or you don't have much saved up for a down payment, FHA may be a solution to help you get into a home.
With subprime mortgage programs going away, FHA has stepped in and filled the void for some ...
posted by RJ Baxter December 13, 2007 16:36 | permalink | comments(0) | Mortgage Concepts Subprime Plan to Ease Economy or Only Help a Few?
Treasury Secretary Henry Paulson is now confident that the government and key banks will reach an agreement this week to help ease pressures on the United State's frgaile economy brought on by the current housing crisis.
The plan will seek to aid homeowners who can afford the interest rate they obtained to buy their home, but cannot afford the new payment when their adjustable-rate mortgage enters the adjustment period.
posted by RJ Baxter December 03, 2007 14:54 | permalink | comments(0) | Mortgage ConceptsNovember, 2007 Interest Rate Freeze to Help Subprime Home Owners?
The US Treasury Department is close to announcing a plan that it is working on with mortgage companies to freeze mortgate rates for home owners who are in trouble with adjustable-rate mortgages. Specifically, this plan will help the millions of subprime borrowers who took out adjustable-rate loans at low 2 year fixed rates which have adjusted or are set to adjust to higher payments.
