WASHINGTON (Reuters) - The Obama administration pledged on Thursday to back beleaguered mortgage finance giants Fannie Mae <FNM.N> and Freddie Mac <FRE.N> no matter how big their losses may be in the next three years. Treasury also said it would not require the two agencies to reduce their portfolio size next year, in a move that would allow them provide even greater support for the housing market as it begins to recover from its worst slump in decades. The Treasury Department said it made... Read Full Story
Financial Advice Posted in Loans Tags: loan , loan modification , Loans No Comments »
Obama mortgage loan modification program seems to be the most popular program nowadays. In does not matter in what situation you are, there are all chances that one day you may be in need of help. That is why, it is better to be prepared in advance than to mess around not knowing what to do. There is a lot of various helpful information which you need to know. One of the most popular ways to... Read Full Story
Once again I find myself furious at the disrespect the treasury and government give the average American. The Obama administration, thinking the average U.S citizen may be too dumb to find out, slipped a new tidbit of news under the nose of the markets. What news you ask? The treasury lifted the bailout cap on FREDDIE MAC (NYSE: FRE) and FANNIE MAE (NYSE: FNM), the two mortgage behemoths. This was done obviously to keep them from failing as it appears the depth of the losses continues to... Read Full Story
Pre qualified mortgage leads are leads that are generated when customers who are filling applications for mortgage refinancing or a common mortgage and the lender or mortgage firm makes an investigation into the applicant’s credit position. This appeal signifies that the customer is vigorously looking for a common mortgage or mortgage refinancing. The thorough credit check that will be done will cause a trigger to develop and this is what conveys the credit firm to transmit the consumer’s... Read Full Story
WASHINGTON (Reuters) - Serious delinquencies among U.S. prime mortgages rose nearly 20 percent in the third quarter from the prior quarter, as the percentage of current and performing mortgages fell for the sixth consecutive quarter, banking regulators said on Monday. The report by the Office of Comptroller of the Currency and the Office of Thrift Supervision, which are part of the Treasury Department, covered about two-thirds of all U.S. mortgages. It found 3.6 percent of prime mortgages... Read Full Story
With all of the recent changes in FHA loans, I thought I would take the time today to share information that you as a home buyer should know.
Down Payment:
First, we’ll start with the down payment. About a year ago, FHA changed the requirement to 3.5% of the purchase price. 3.5% is not a lot and may be raised to 5% or more in the future. In the mean time, if you don’t have the 3.5% FHA allows gift funds from relatives or in some cases an employer or non-profit organization. Keep in... Read Full Story
Remortgages and mortgages are both types of home loans.
Home loans as the name suggests are clearly loans that have a relationship to a home or house and when talking about mortgages and remortgages the houses in question must be bought property.
If someone wants a mortgage to buy his first property or he is already a homeowner who wants to move to a property in a different area of the country or to buy a bigger or better property or he requires a remortgage to release equity for any... Read Full Story
If you face difficulty you should know that you are not alone. This is not the promises of the candidate for the president. It is a functioning program that have been launched by the government of the USA and which is going to handle any problems you have. In other words if some hardships reflected badly on your financial abilities and the house you have taken mortgage before is under the threat of foreclosure you have a chance to improve the situation and to preserve the house. It is... Read Full Story
The “unlimited aid” statement from the government about giving taxpayer funds to Fannie Mae and Freddie Mac is NOTHING SHORT OF AN ADMISSION THAT THEY ARE HOPELESSLY INSOLVENT and that they will be hideously hemorrhaging untold amounts of money for the foreseeable future. We need an AUDIT OF THESE TWO COMPANIES and an investigation into the practices of management that caused these problems and we need people held accountable and we need both Fannie and Freddie to be LIQUIDATED TO STOP THE... Read Full Story
Mortgage rates rose for the second consecutive week but the number of homeowners who applied for refinancing remained strong. The average fixed rate on a 30-year mortgage was 4.94 percent this week, up from 4.81 percent last week, Freddie Mac said Thursday. Mortgage rates are closely tied to yields on long-term government debt, which have risen since the average fixed rate on 30-year mortgages hit a record low of 4.71 percent the week of Dec. 3. A Federal Reserve program to buy $1.25... Read Full Story
