New Foreclosure Alternative To Keep Homeowners In Homes, Temporarily - 02/18/10 08:36 PM
New Foreclosure Alternative To Keep Homeowners In Homes, Temporarily
A new program to help ease the pain of some homeowners heading for foreclosure has recently been rolled out by Citi Mortgage. This new plan is aimed at homeowners who are already seriously delinquent, having missed at least three monthly payments, and are on the road to losing their homes.
Under the new program, instead of borrowers falling further and further behind on their mortgages, leading to an eventual foreclosure sale, they can stay in their homes for up to six months, if they agree to then hand over the deed to … (1 comments)

Your 2010 Homeowner Tax Deductions: Taking Advantage of Deductions For Homeowners - 02/18/10 03:35 PM
Your 2010 Homeowner Tax Deductions: Taking Advantage of Deductions For Homeowners Nearly everyone has heard about the $8,000 tax credit for first-time home buyers, but what about tax advantages if you're a homeowner today?  As we approach the deadline for filing your taxes, we will discuss tax benefits that exist for existing home owners. Some of the many tax advantages for current home owners are listed below. As always, you should consult a professional tax advisor for details, but here's a list of the top tax deductions for homeowners: 1. Mortgage Interest - Mortgage interest on a home is usually fully … (0 comments)

No New Mortgage Products From Fannie Mae & Freddie Mac - 02/04/10 11:10 AM
No New Mortgage Products From Fannie Mae & Freddie Mac
Fannie Mae and Freddie Mac, the two now government controlled mortgage giants will not be allowed to introduce new loan products in the mortgage market while they are under the control of the U.S. government. That is the recent news that federal regulator announced in a letter to Congress.
In reality, since this past summer, Fannie and Freddie had been allowed to submit new loan products for review through a process established by the companies' federal regulator, the Federal Housing Finance Agency. However, no new products were submitted during that time … (0 comments)

Government To Streamline Mortgage Modification Paperwork - 02/04/10 11:07 AM
Government To Streamline Mortgage Modification Paperwork
A new and more streamlined process to simplify the paperwork for people seeking lower home-mortgage payments through mortgage modifications is on the way.
Through the backing of the Presidential Administration, the Treasury outlined new guidelines aimed at streamlining requirements for mortgage modifications under the administration's Home Affordable Modification Program launched a year ago.
Under the new plan, guidelines specify that borrowers must provide three items to their current loan servicers, the companies that they pay mortgage payments to:
•1)   A form requesting a loan modification
•2)   Authorization for the servicer to seek tax information from … (2 comments)

 

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