Congress has just come up with an extra $1 billion to help people who can’t pay their mortgage because of unemployment or a medical problem.
Under this new Emergency Mortgage Relief program, eligible homeowners who are at least three months delinquent can get up to $50,000 apiece in federal loans to pay their mortgages.
The money for [...]
Posts Tagged ‘mortgage payments’
Feds put up $1 billion more for mortgage relief
July 30th, 2010 by Mortgage Writer
Tags: Federal Housing, financial system, homeowners, housing market, mortgage, mortgage market, mortgage payments, regulators, unemployment
more...FDIC to Sell $409 Million in Mortgage Bonds
July 24th, 2010 by Mortgage Writer
The Federal Deposit Insurance Corp. is tapping the securitization market to rid itself of assets from failed banks.
This time, the regulator will sell $409 million of mortgage bonds originated or acquired by 17 failed financial institutions.
The residential mortgage bond, called FDIC 2010-R1, will be wrapped by an FDIC guarantee, which is backed by the full [...]
Tags: home loans, housing market, interest rates, mortgage bonds, mortgage lenders, mortgage loans, mortgage payments, mortgage securities, US Economy
Mortgage Rescue Scheme to be cut
July 20th, 2010 by Mortgage Writer
The government is cutting the amount home owners can sell to the council under the Mortgage Rescue Scheme.
Grant Shapps says the amount that home owners can sell to the council or housing association will be reduced from 65% to 55% which will allow more people to benefit.
He adds that the Scheme needs to be “refocused” [...]
Tags: home loans, homeowners, housing market, interest rates, loan, money, mortgage loans, mortgage market, mortgage payments, mortgage rescue, mortgages, real estate
Real Estate Matters: Windfall lets 15-year mortgage work
July 18th, 2010 by Mortgage Writer
We are looking at refinancing this week. We have about $250,000 equity in our home on a 30-year mortgage at 6.2 percent. We are three years into the mortgage. We are in our mid-50s. We know we will stay in this home for at least seven more years. We have just come into a very [...]
Tags: financial, foreclosures, homebuyers, housing market, interest rates, loans, mortgage, mortgage market, mortgage payments, mortgages, real estate, subprime mortgages, tax credit, US Economy
Mortgage Investors Turn to State Courts for Relief
July 10th, 2010 by Mortgage Writer
INVESTORS who lost billions on boatloads of faulty mortgage securities have had a hard time holding Wall Street accountable for selling the things in the first place.
For the most part, banks have said they can’t be called out in court on any of this because they had no idea that so many of these loans [...]
Tags: borrowers, business, housing market, investors, money, mortgage lenders, mortgage lending, mortgage market, mortgage payments, mortgage securities, subprime mortgages, wall street
Bank Of America Home Loan Refinancing For A Lower Monthly Mortgage Payment
July 9th, 2010 by Mortgage Writer
Mortgage interest rates have been quite low over the past months and remain at levels where many homeowners are able to refinance for a lower mortgage rate and monthly mortgage payment. Homeowners with Bank of America, like many other homeowners with various lenders across the nation, have been able to refinance with their lender to [...]
Tags: bank of america, home loan, homeowners, housing market, interest rates, loan modifications, mortgage lenders, mortgage lending, mortgage market, mortgage payments, Obama, real estate
Signs of Improvement Are Fleeting for Mortgage Delinquencies
July 7th, 2010 by Mortgage Writer
After several months of improvement, mortgage delinquencies rose in May, according to loan data tracked by research firm LPS Applied Analytics.
Nearly 9.2% of all loans were 90 days or more past due at the end of May, up from 9% one month earlier. Those numbers exclude the share of loans in foreclosure, which remained unchanged [...]
Tags: economic recovery, FHA, financial crisis, foreclosures, Freddie Mac, home loans, housing market, investors, mortgage delinquency, mortgage payments, mortgages, real estate, tax credit
Homebuying basics: What is a mortgage
July 6th, 2010 by Mortgage Writer
There is often an assumption that everyone knows what a mortgage is. However, many first time homebuyers only have a very basic grasp of what a mortgage is and what role it plays in enabling them to buy a house. The objective of this article, therefore, is to provide a brief overview of what a [...]
Tags: bank, business, home loans, homebuyers, housing market, interest rates, investors, loan, money, mortgage payments, mortgages, secure loans, subprime mortgages
Wells Fargo Homeowners Refinance For Lower Mortgage Interest Rate–Will A Lower Mortgage Payment Follow?
July 5th, 2010 by Mortgage Writer
Homeowners with lenders like Wells Fargo have been able to refinance for a lower mortgage interest rate, as rates have remained quite low over the past months. Homeowners have sought a lower monthly mortgage payment also, and for many who refinanced and got a lower interest rate on their home loan, a lower mortgage payment [...]
Tags: financial crisis, home loans, homeowners, lenders, loan, money, mortgage market, mortgage payments, mortgage rates, real estate, tax credit, us interest rates, wells fargo
U.S. housing market remains fragile despite low mortgage rates
July 2nd, 2010 by Mortgage Writer
After showing signs of a fledgling recovery from the worst downturn in decades, the U.S. housing market appears to be heading back toward the doldrums, as the expiration of a lucrative tax credit for buyers and increased uncertainty about the economy cause home sales to plummet.
The sudden weakness in residential real estate has struck nearly [...]
Tags: economic growth, home sales, housing market, interest rates, mortgage payments, mortgage rates, real estate, tax credit, Unemployment Rate, US Economy
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