While legislators are struggling to find ways to stimulate the economy and save the drowning housing market, the news that stricter credit requirements and higher fees are coming down the pipe couldn’t be timed worse. Effective April 1, 2009, Fannie Mae and Freddie Mac are increasing their mandatory fees and toughening their credit score and [...]
Entries Tagged as 'Mortgage Loans'
Fannie Mae and Freddie Mac to Toughen Credit Guidelines
February 20th, 2009 · 3 Comments · Mortgages
Tags: credit·credit guidelines·Fannie·FMAC·FNMA·Freddie·Mortgage Loans·mortgage qualification·Mortgages·Real Estate
Make All Your Mortgage Payments on Time? You Can Still Get Foreclosed
May 27th, 2008 · No Comments · Mortgages
If you have a so-called option ARM, where you get a choice of the payment structure you want, I’ll bet you didn’t know about an insidious clause in that loan. In many option loans, you can choose a minimum payment, much like a credit card, where you just make a small payment, but it doesn’t [...]
Tags: 15-year·30-year·Amortization·foreclosure·Minimum Payments·Mortgage Loans·Option ARM
