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’
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...Geithner: U.S. Should Retain a Mortgage Backstop
July 26th, 2010 by Mortgage Writer
Treasury Secretary Timothy Geithner said Sunday the government should retain “some type” of federal guarantee to ensure that Americans can easily finance home loans, in what could be the latest salvo between the Obama administration and Republicans over the future role of the public sector in the housing market.
The statement cuts to the heart of [...]
Tags: borrowing, fannie mae, financial crisis, Freddie Mac, home loans, homeowners, housing market, investors, mortgage, tax credit
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 Rates Mostly Flat; 30Yr Fixed Stays At 4.57% -Freddie
July 15th, 2010 by Mortgage Writer
Mortgage rates were largely flat the past week, with the average rate on 30-year fixed-rate mortgages remaining at a record low, according to Freddie Mac’s (FMCC) weekly survey of mortgage rates.
Rates remain at or near record lows as the Treasury market has rallied amid stock-market skepticism, pushing yields down. Mortgage rates generally track Treasury yields.
The [...]
Tags: fixed rates, Freddie Mac, home loans, housing market, interest rates, loan, money, mortgage, mortgage lenders, mortgage payment, mortgage rates, mortgages, real estate, treasury, treasurys
Freddie: 30-year fixed-rate mortgage at record low
July 8th, 2010 by Mortgage Writer
Treasury-indexed ARM rates more than a percentage point lower than a year ago
The 30-year fixed-rate mortgage has hit a record low, ticking down to an average 4.57% in week ended July 8, compared with 4.58% in the prior week, Freddie Mac reported Thursday.
To obtain the latest rate, the mortgage required payment of an average 0.7 [...]
Tags: economists, fixed rates, foreclosure, Freddie Mac, home loans, housing market, money, mortgage, mortgage rates, subprime mortgages
What Wall Street reform means for your mortgage
June 29th, 2010 by Mortgage Writer
Predatory lending would likely become a thing of the past if proposed regulatory reform rules are put into practice. And that may mean that mortgages get more expensive and more difficult to get, lenders warn.
The new rules, which Congress is expected to vote on this week, require that financial institutions ensure that borrowers can afford [...]
Tags: borrowers, business, financial, financial crisis, home loans, homebuyers, housing market, interest rates, lenders, mortgage, Mortgage Bankers Association, mortgage lenders, mortgage payments, real estate, subprime mortgages, us consumer
Troubled borrowers get help outside Obama mortgage plan
June 22nd, 2010 by Mortgage Writer
More troubled homeowners have fallen out of trial mortgage modifications than have received long-term help, a new government report released Monday shows.
But nearly half of these borrowers received alternate help, while only 7% have fallen into foreclosure, according to the latest report on the administration’s signature housing-rescue plan, Home Affordable Modification Program, known as HAMP.
Also, [...]
Tags: borrowers, financial crisis, foreclosures, home loans, homeowners, housing market, loan, mortgage, mortgage modification, Obama administration, subprime mortgages
The Home Loan Modification Program Brings Mortgage Aid To Struggling Homeowners
May 31st, 2010 by Mortgage Writer
There have been many complaints about lenders and the home loan modification program as a whole from homeowners who are very upset with their experience in seeking a loan modification on their home. Many people have been using mortgage modifications as a way to get a more affordable mortgage payment during these tough economic times.
Many [...]
Tags: economic recovery, financial, homeowners, investors, mortgage, mortgage market, mortgage payments, Treasury Department
One in 25 mortgage holder in arrears
May 28th, 2010 by Mortgage Writer
ONE IN every 25 Irish residential mortgage holders is more than three months in arrears on repayments, according to figures published yesterday by the financial regulator. And almost 22,000 people are struggling with arrears of more than six months on their home loans.
However, the number of repossessions and court proceedings against homeowners fell in the [...]
Tags: economy, financial, financial crisis, home loans, homeowners, housing market, mortgage, real estate, us central bank, US Economy
Tax-credit deadline passes, mortgage applications swoon
May 23rd, 2010 by Mortgage Writer
You didn’t need to wait long for a sign of what the end of the home buyer tax credit program means: Mortgage applications by buyers fell 27 percent last week — following a 10 percent drop the week before — to their lowest level in 13 years.
“The data continue to suggest that the tax credit [...]
Tags: economy, financial, homebuyers, homeowners, interest rates, mortgage, Mortgage Bankers Association, mortgage payments, mortgage rates, tax credit, treasurys, US Economy
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