Fannie Mae Deed for Lease Program
Mortgage financier Fannie Mae has unveiled a new foreclosure prevention tool called the “Deed for Lease Program,” which helps struggling borrowers stay in their homes.… Read More »Fannie Mae Deed for Lease Program
Loan Modifications Will Not Hurt Credit Scores (At the Moment)
Going forward, government sponsored loan modifications will not adversely affect consumers’ credit scores, at least not immediately, according to a report in SF Gate. Fair… Read More »Loan Modifications Will Not Hurt Credit Scores (At the Moment)
Bill Aims to Increase FHA Down Payment to Five Percent
A new bill introduced by New Jersey Republican Scott Garrett would require FHA borrowers to make at least a five percent minimum down payment. The… Read More »Bill Aims to Increase FHA Down Payment to Five Percent
Can I Refinance a Mortgage With Negative Equity?
Mortgage Q&A: “Can I refinance a mortgage with negative equity?” Nowadays, more and more homeowners are finding that their condo or home value isn’t worth… Read More »Can I Refinance a Mortgage With Negative Equity?
3,944,602 Home Loan Applications Denied in 2008
Below are some select takeaways from the Federal Reserve’s new report titled, “The 2008 HMDA Data: The Mortgage Market during a Turbulent Year (view here).”… Read More »3,944,602 Home Loan Applications Denied in 2008
FHA Insurance Fund to Fall Below Minimum, Policy Changes Coming
The Federal Housing Administration announced today that it will make a series of policy changes in reaction to its capital reserve ratio falling below the… Read More »FHA Insurance Fund to Fall Below Minimum, Policy Changes Coming
How Long After Foreclosure Can I Purchase a Home? Waiting Periods By Loan Type
Timely mortgage Q&A: “How long after foreclosure can I purchase a home?” If you’ve recently experienced foreclosure, you may be wondering when you’ll be able… Read More »How Long After Foreclosure Can I Purchase a Home? Waiting Periods By Loan Type
How Long Does a Foreclosure Stay on Your Credit Report?
More mortgage crisis Q&A: “How long does a foreclosure stay on your credit report?” With all the foreclosures sprouting up, struggling homeowners that are either… Read More »How Long Does a Foreclosure Stay on Your Credit Report?
Do Mortgage Modifications Work?
Here’s some timely mortgage Q&A: “Do mortgage modifications work?” Since the mortgage mess got in full swing, mortgage lenders and loan servicers have been increasingly… Read More »Do Mortgage Modifications Work?
Are Mortgage Points Tax Deductible?
More mortgage Q&A: “Are mortgage points tax deductible?” Mortgage points, sometimes known as loan origination fees or discount points, can be tax deductible if certain… Read More »Are Mortgage Points Tax Deductible?