mortgage: Good to know...
- 07/20/11 12:05 PM
For homeowners on the brink of foreclosure, new federal program might offer help. The Emergency Homeowners Loans Program (EHLP) offers up to $50,000 in loans to homeowners in danger of foreclosure because of unemployment, underemployment or medical issues. The program was developed by HUD, which has set aside more than $50 million to use in Minnesota over the next two years. Applications will be accepted through July 22nd Random drawing will be held 1,405 Minnesota homeowners will be chosen to receive the loans to make overdue mortgage payments and to assist with future payments. You MUST apply. Loans are "interest-free, forgivable … (0 comments)
mortgage: Interest Rates
- 07/15/11 12:28 PM
From the desk of Barb Crea, Yesterday, our underwriter walked in to my office and asked me if I knew when interest rates had last been at 7.0% or higher. As it happens, I have been keeping track of interest rates since the early 80's. The answer: March 2002. Given the stalemate in Washington over the budget, and the current debt ceiling, I thought it might be important to issue a pointed warning today that these incredibly low interest rates may soon rise. In fact, if an agreement is not reached soon, it may be too late to do … (6 comments)
For homeowners on the brink of foreclosure, new federal program might offer help. The Emergency Homeowners Loans Program (EHLP) offers up to $50,000 in loans to homeowners in danger of foreclosure because of unemployment, underemployment or medical issues. The program was developed by HUD, which has set aside more than $50 million to use in Minnesota over the next two years.
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