The Truth About Rates and APR Here is a definition of APR (Annual Percentage Rate) we pulled for another mortgage Web site: Annual percentage rate (A.P.R.) "APR is a measurement of the full cost of a loan including interest and loan fees expressed as a yearly percentage rate. Because all lenders
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07/28/2009
Below are summaries changes that the Federal Reserve has proposed. Both proposal are signifant and I believe all realestate professions need to review the proposal and let your comments be known. I can agree that better disclosure of the terms of loans might assist consumers, however the propos
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07/28/2009
Here is an update of the Cleveland NACA event as broadcast by www.WKYC.com a local TV Station. Here is a link to the story ( http://www.wkyc.com/news/local/news_article.aspx?storyid=118350&catid=3 ). Also homeowners facing foreclosure may want to check with the individuals at Cuyahoga County's Fo
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07/22/2009
On todays evening news Channel 3 did a piece supporting NACA. with a Title of NACA 'Save the Dream' tour helps homeowners lower mortgage rates. Here you can read the article. http://www.wkyc.com/news/local/news_article.aspx?storyid=117206&catid=45 This is a link to a article titled http://
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07/06/2009
With the recent announcment of Unemployment numbers and Mortgage Delq's, you might wish to see these number show together. There appears to be a relationship between Unemployment and Mortgage Delq's. The question to ask is then "What is the cause and what is the effect?" and then to ask "What
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07/04/2009
Everyone is aware of FHA's Property Flipping Rules. Today I was approached to do a Conventional Loan for the buyer instead of FHA because of the FHA Flipping Rules. I would generally avoid transcations like this however it peaked my interest based upon FHA Rules. The following are sections of
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07/02/2009
I actually support this because it does not bail out the people that borrowed 100% of the price of a home. U.S. HUD Secretary Shaun Donovan today announced an expansion of the Obama Administration's Home Affordable Refinance Program to include participation by borrowers who are current but up
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07/01/2009