Mortgage Banking Blog » US Economy News Blog

Mortgage Safety Net May Help More New Buyers Take the Plunge

admin — Fri, 24 Apr 2009 23:04:05 +0000

Is there a rainy day in your personal job forecast? That wouldn’t be surprising — with unemployment rates in double digits in several states, 8.2 percent nationwide and widely expected to hit 10 percent or higher by next year.

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Low Price, Low Rate, Sky-High Fees

admin — Sat, 18 Apr 2009 02:04:58 +0000

House prices and mortgage rates are down, which sounds great for buyers and refinancers. But a series of underwriting and appraisal changes taking effect this month is throwing new obstacles in the way of borrowers and loan officers.

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Disclosing Energy Efficiency

admin — Sat, 11 Apr 2009 02:04:51 +0000

Picture this: You’re shopping for a home, dropping by open houses on a weekend. Each house you visit has an easy-to-understand disclosure about something that’s typically unknown: its annual energy-guzzling costs.

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Demand Transparency on Mortgage Rates and Fees

admin — Fri, 03 Apr 2009 23:04:05 +0000

With mortgage rates at historic lows — 4.75 percent from several lenders in mid-December — a new legal settlement from the Federal Trade Commission offers a cautionary note for consumers, especially if they are members of minority groups: Watch out. The rates and fees you’re quoted could violate federal law.

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These Home-Equity Loans Come With Big Risks

admin — Sat, 04 Apr 2009 02:04:07 +0000

(Second of two articles)

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Tax Break on Capital Gains Narrows

admin — Sat, 04 Apr 2009 02:04:29 +0000

Deep in the nearly 700 pages of the new housing bill is a complicated change in the tax code that could affect substantial numbers of people who purchase second homes or investment real estate in the coming decade with an eye to occupying those homes as their main residence later.

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A Big Boost for Buyers Seeking Jumbo Loans

admin — Fri, 03 Apr 2009 23:04:26 +0000

New money is about to flow into a part of the real estate market that has been squeezed hard by the credit crisis: mortgages too large to be purchased or backed by Fannie Mae, Freddie Mac or the Federal Housing Administration.

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Get Mortgage Relief at the Yellow Light Rather Than Red

admin — Sat, 04 Apr 2009 00:04:15 +0000

Here’s some good news for homeowners facing tough financial times: You no longer have to miss two to three months of payments before your mortgage company can modify the loan terms you can no longer afford.

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Keep Watch on Your Credit Report — Free

admin — Sat, 04 Apr 2009 00:04:55 +0000

If you’re thinking about buying a home or refinancing a mortgage, you may want to avail yourself of a forthcoming free service that could help you get a better mortgage rate.

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Trying for a Bigger Tax Credit

admin — Sat, 04 Apr 2009 02:04:19 +0000

Reluctant potential home buyers could be in line for some additional tax and financing enticements, either through a post-election lame duck congressional session or from the new Congress arriving in January.

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