loan modification: New Refinance Guidelines - 07/07/09 02:56 PM
The federal government's new eligibility requirements for its home-loan refinancing program should allow more Arizonans to reduce their monthly mortgage payments.
However, the program still doesn't solve the biggest problem for so many borrowers: owing much more than their homes are worth.
This week, the U.S. Department of Housing and Urban … (0 comments)
loan modification: Foreclosures Ahead - 07/07/09 01:53 PM
Economic observers are forecasting another surge of foreclosures later this summer or in the fall. Those lenders that held off on foreclosures as part of President Obama's plan will now proceed vigorously to clear the backlog of troubled mortgages, causing the large amount of foreclosures.
Home values will depreciate with the … (0 comments)
loan modification: U.S. Has Offered Incentives To Modify Second Mortgages - 05/05/09 02:20 PM
The Obama administration announced on Tuesday, April 28 that they are offering incentives for mortgage servicers to modify second mortgages, including home equity loans.
The way the incentive works is like this: When the first mortgage has been modified, the second mortgage servicers must agree to modify their mortgage. The term of … (0 comments)
loan modification: Buyers Being Lured to 100% Loan Program - 12/23/08 12:37 PM
Home buyers are learning about available 100% financing loan programs offered by the United States Department of Agriculture. There are two 100% financing loans available, which are VA loans and the Rural Home Loan program.
The Rural Home Loan program allows no-money-down purchases. A borrower can seek up to 102 percent when a mortgage insurance policy is included. Eligibility … (0 comments)
loan modification: New plan seeks to streamline loan mods - 11/21/08 09:31 AM
Fannie, Freddie to lead the way
A new plan to streamline loan modifications for homeowners who have fallen behind on their mortgage payments could help "hundreds of thousands" of borrowers avoid foreclosure.
But the plan is far less ambitious than a competing proposal for the government to guarantee payments on as … (0 comments)
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The federal government's new eligibility requirements for its home-loan refinancing program should allow more Arizonans to reduce their monthly mortgage payments.
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