January 11, 2011 (Shirley Allen) Everyone knows that there’s no shortage of homes on the market right now. But if you’re looking for a home that has been foreclosed for a great price with a couple benefits that traditional foreclosures don’t have, check out buying a home from Freddie Mac. They have over 75,000 homes [...]
January 11, 2011 (Jeff Alan) The Credit Union Mortgage Association (CUMA) announced that it has closed the first HarmonyLoan for a member of the Agriculture Federal Credit Union in conjunction with Mortgage Harmony Corporation. The HarmonyLoan allows homeowners an automatic rate-reset modification option, and no additional paperwork. The consumer manages their own loan and decides [...]
January 11, 2011 (Chris Moore) California has rolled out its Unemployed Mortgage Assistance Program (UMA) supported by $2 billion in federal dollars provided through the Hardest Hit Fund. Unemployed California homeowners can apply for up to $3,000 a month in mortgage assistance to tide them over for up to six months while looking for work. [...]
January 10, 2011 (Chris Moore) Federal Reserve Board chairman Ben Bernanke, in testimony before the Senate Banking Committee, said he is dismayed by the persistence of high foreclosure rates, declining home values, and the futility of government efforts to engineer a recovery in the housing market. Read more
January 10, 2011 (Shirley Allen) The first thing you should always do as a first step if you ever reach that point where you are having difficulty making your mortgage payment is quite simply…call your lender. Your mortgage lender may have options to help you make your payments more affordable or to avoid foreclosure. Read [...]
January 10, 2011 (Chris Moore) Could the recent court decision by the Massachusetts Supreme Judicial Court against U.S Bancorp and Wells Fargo facilitate a worsening of the current housing slump? The ruling affirmed a lower court judge’s ruling invalidating two mortgage foreclosure sales because the banks, in their capacity as trustees for mortgage securities, did [...]
January 7, 2011 (Shirley Allen) You hear a lot about short sales these days, but short sales aren’t for everybody. Sellers aren’t entitled to a short sale just because they’ve lost equity in their home. Lenders look for other hardships when approving short sale transactions. Short sales are not the "saving grace" some home sellers [...]
January 6, 2011 (Chris Moore) Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®). The survey results showed lower mortgage rates for both long- and short-term rates. Read more...
January 6, 2011 (Jeff Alan) Time is running out for Oregon residents, who can receive up to one year of mortgage payments, or a total of $20,000, which is up for grabs in the Mortgage Payment Assistance Program (MPA), and you can still apply until Jan. 14. And homeowners do not even need to be [...]
