In case you have been in a cave for the past 2 years,  the adjustable rate mortgage (ARM) has been unjustly blamed for the housing crisis. Here is the public perception of the ARM: Borrowers were sold these new exotic Adjustable rates without the terms being disclosed, then they adjusted and the...
  **UPDATE** HUD pulled this letter the day after it was issued. Stay tuned for updates On Tuesday HUD Secretary Shaun Donovan announced that first time home buyers may use the $8,000 first time home buyer tax credit as part or all of their down payment, when they use an FHA insured loan to purch...
Help may be here for you! I am one of many VOU homeowners that is upside down on my mortgage I purchased in the Villages of Urbana  in September of 2005, otherwise known as "the height of the market". As a result, I owe$440,000 on a townhouse that is worth about $350,000 (I'm being aggressive wit...
DID YOU KNOW THAT 5/1 ARM's are available today at 3.75%? and 7/1 ARM's from 4.125%? With the recent drop in fixed rates since the beginning of the year, no one seems to be talking about Adjustable Rate Mortgages (ARM's).  This is for good reason too, the ARM has received a very bad reputation ov...
"I'm a first time home buyer, I'm trying to buy a home soon to take advantage of the first time home buyer $8,000 tax credit" That statement ranks in the top 3 things I hear everyday.  #1 is "I'm upside down on my mortgage, HELP!" #2 is "I'm not your maid, put your clothes in the hamper" (I did n...

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