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  2. Mortgage 411
    3. (Page 5)

Mortgage 411

Government Struggles to Keep Interest Rates Low

Mortgage rates are rising, despite the government’s efforts to hold them down.   The government can’t control all the factors that affect mortgage rates. Mortgage interest has climbed because more borrowers refinanced when rates fell and boosted the supply of mortgage bonds.   Experts also attribute rising rates to expanded borrowing by the government to […]

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Can You Still Buy Without a Fixed Mortgage?

Buying a house doesn’t necessarily require getting a 30-year, fixed-rate mortgage. More and more people are exploring alternative financing plans as it gets harder to get a conventional bank loan. Here are some creative ways to pay for a home, according to some financial experts: Securities-backed loans. The lender gives the borrower 80 percent of […]

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4 Tips to Getting a Loan

These days one of the biggest impediments to closing a real estate sale can be the buyer’s ability to get a mortgage. Here are some tips for anyone who hopes to land a loan: Turn to the government. The biggest source of loans these days is the Federal Housing Administration (FHA) and the Veterans Administration […]

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Jayson Duff: Why homebuyers should act NOW

In spite of the negatives in the media, the housing market has several positive conditions smart buyers are jumping on now… 1. Low prices. The fact home prices have dropped is unfortunate for sellers and the economy, but for buyers it presents a golden opportunity they may never see again. Today’s low prices mean buyers […]

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Bankers Still Resisting Bankruptcy Cram downs

Banks are facing the inevitability of bankruptcy modification of mortgages.Banks have fought the notion of what is called a cramdown, saying that giving bankruptcy judges the ability to modify first mortgages will drive up borrowing costs for everyone.Supporters of cramdowns point out that modifications are no more costly than bankruptcies.To get the support of Citigroup, […]

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Fraud Grows, Despite More Consumer Protection

Real estate fraud continues to grow, despite aggressive responses from federal regulators. The Federal Bureau of Investigations has reported that incidents of mortgage fraud have tripled over the last two years to 21,994, with the value of the crimes quadrupling to $1.01 billion. The crimes range from individuals lying on their applications to complex rings […]

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Buyers Being Lured to 100% Loan Program

More buyers in search of home loans are turning to an obscure program operated by the United States Department of Agriculture. The program allows no-money-down purchases. In fact, including a mortgage insurance policy, a borrower can seek up to 102 percent. To be eligible, buyers can’t have income that exceeds 115 percent of the median […]

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What You Can Do to Improve Your Credit

Credit scores, along with your overall income and debt, are big factors in determining whether you’ll qualify for a loan and what your loan terms will be. So, keep your credit score high by doing the following: 1. Check for and correct any errors in your credit report. Mistakes happen, and you could be paying […]

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Important FHA Loan info!!

Effective with FHA Case Assignment dates on or after January 1, 2009 the down payment and maximum mortgage amounts for FHA loans have been revised. Highlights include the following:  ·         Down payment requirements have been revised to require that the borrower pay an amount not less than 3.5% of the lesser of the appraised value […]

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