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
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?
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
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
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
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?
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?
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?
Chase is offering to give customers 1% of their scheduled monthly principal and interest mortgage payments back if they meet certain requirements via its new… Read More »Chase Offering 1% Mortgage Cash Back
Mortgages sold on the secondary market quickly after being originated were underwritten more poorly than loans kept on banks’ books, according to a report from… Read More »Report: Originate to Distribute Mortgages Default More
