January 3, 2012 (Shirley Allen) The Department of Housing and Urban Development (HUD) has announced that it has approved another one-year waiver of its anti-flipping rule on foreclosed properties bought with FHA loans. […]
April 26, 2011 (Chris Moore) Home prices in February hit their lowest mark since March of 2003 according to RadarLogic’s February 2011 RPX Monthly Housing Market Report. Tracking home prices in 25 metropolitan areas, the RPX Composite price fell to $178.12 per square foot in February, which is 36 percent lower than the all-time high [...]
April 12, 2011 (Jeff Alan) Fannie Mae has announced a new buyer assistance program that provides prospective home buyers with closing cost assistance of up to 3.5 percent on any property bought through Fannie Mae’s HomePath Properties. Read more...
February 3, 2011 (Chris Moore) No matter which side of the fence you sit on when it comes to who you want to blame for the whole housing crisis and no matter how many bank foreclosure horror stories you hear of or read about, there’s one thing you can’t deny, bank mortgage loan modifications outnumber [...]
February 1, 2011 (Shirley Allen) By a margin of almost three to one, homeowners who refinanced their first lien home mortgage lowered their principal balance by paying an additional amount at the time of closing versus those borrowers who took cash out. Forty-six percent of homeowners who refinanced their mortgage in the fourth quarter of [...]
February 1, 2011 (Chris Moore) There are many misconceptions concerning the issue of foreclosure. Unfortunately these misconceptions have lead many homeowners to take all the wrong actions in trying to stop foreclosure, which ultimately could cause them to lose their homes. Read more...
January 24, 2011 (Shirley Allen) The Department of Housing and Urban Development (HUD) announced that it is in the process of approving another one-year suspension of its anti-flipping rule on foreclosed properties bought with FHA loans. The suspension was first initiated on February 1st of last year to allow investors to quickly renovate foreclosed homes [...]
January 19, 2011 (Chris Moore) Adjustable Rate Mortgages (ARMs) that had become the mortgage of choice during the housing boom has become virtually non-existent as a mortgage option today. In a report released by the Federal Reserve, the once mighty ARM which was the choice of 70 percent of all borrowers in 2004, now only [...]
January 13, 2011 (Jeff Alan) The Federal Reserve announced a new online publication yesterday that helps consumers better understand new notices they may receive from lenders when credit scores or credit reports affect a decision go grant credit. Almost all credit decisions made by lenders use a consumers credit history when deciding whether to extend [...]
