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lenders: HARP Refinance - The first few months - 05/02/12 09:28 AM
HARP Refinance - The first few months
HARP 2.0 has been in place for awhile now, and although I have helped several people refinance their underwater loans with the HARP 2.0 loan program, it has actually been a bit disappointing. As typical with government programs, the reality of HARP 2.0 falls short of the perception.
When the program was announced back in October, 2011 it sounded like everyone - no matter what their loan to value or their income would be able to refinance at today's low interest rates.
When the program moved full steam ahead in March, 2012, many people have … (1 comments)
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lenders: HARP 2 Refinance not ready just yet - Why? - 01/17/12 09:22 AM
HARP 2 - Not ready until March 15th, 2012
Minneapolis, MN: There is a lot of consumers interested in a HARP refinance in MN and WI. The Home Affordable Refinance program allows home owners who have lost value to still refinance their homes are today's low HARP refinance rates. HARP has been available since mid 2009. HARP 2, which was announced in November 2011 removes some restrictions, and should help many more home owners refinance their home loans.
Officially, the enhanced HARP 2 program started December 1. Unofficially, most lenders won't be offering it until after March 15th, 2012. Let's explore … (1 comments)
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lenders: What are you actually buying, a condo or a town house? - 11/04/11 09:07 AM
What are you buying, a condo or a town house?
Looks like a townhome, acts like a townhome - but its a condo, and that makes a big difference in mortgage financing!
People, including many Real Estate Agents, mistakenly assume a property legally platted and developed as a condominium is a town house. In the mortgage financing industry, there is a difference in both interest rates, and the time and ability to get a loan for a condo versus a town house.
When you buy a home, there are two major aspects:
The lender "credit qualifies" the buyer The lender "qualifies" … (1 comments)
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lenders: NAMB files 2nd lawsuit against Federal Reserve on LO Compensation - 03/09/11 07:52 PM
NAMB, the National Association of Mortgage Brokers today filed the second lawsuit this week against Federal Reserve Board over the new Lender Compensation rules set to begin April 1, 2011.
NAMB’s lawsuit seeks to obtain a temporary restraining order, and is using different arguments than the lawsuit filed by NAIHP on March 7th to stop the new mortgage lender rules.
The Federal Reserve Board has enacted rules which will severely limited consumer choice, increase closing costs, increase interest rates, destroy small lenders everywhere, bankrupt Loan Officers, all while increasing profits for banks.
NAMB Sues The FED on LO Comp
Watch the … (0 comments)
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Joseph Metzler MLO MMS NMLS # 274132
,
MN
More about me…
Mortgages Unlimited, Inc
Address: 33 Wentworth Ave E #290, Saint Paul, MN, 55118
Office Phone: (651) 552-3681
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Mortgage industry news and insights from a 15+ year industry expert. Mortgage are Real Estate News You Can Use.
Joe is a Certified Minnesota Mortgage Specialist, who provides home mortgage loans not only in the Minneapolis, St Paul area, but all of Minnesota and Wisconsin.
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