On the heels of Bank of America’s pledge to forgive mortgage principal for people with adjustable rate mortgages, the government has announced a more comprehensive plan to help many American who are struggling with their mortgage payments. I have to say that the Making Homes Affordable Program HAMP was a complete failure. Only 170,000 homeowners [...]
Entries Tagged as 'mortgage qualification'
Government Mortgage Assistance Plan Announced
March 26th, 2010 · No Comments · Mortgages
Tags: FHA·homeowners·HUD·Making Homes Affordable Program·mortgage assistance·mortgage qualification·Mortgages·refinance·second mortgages·unemployed
Fannie Mae and Freddie Mac to Toughen Credit Guidelines
February 20th, 2009 · 3 Comments · Mortgages
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 [...]
Tags: credit·credit guidelines·Fannie·FMAC·FNMA·Freddie·Mortgage Loans·mortgage qualification·Mortgages·Real Estate
Mortgage Rates are Awesome – But Who Can Qualify?
February 3rd, 2009 · 1 Comment · Credit Bureaus and Scores, Credit Reports, Mortgages, Real Estate
Nobody can say whether mortgage rates – or home prices – have bottomed, but what we can say is that based on historical data, rates are at an awesome level. As a real estate agent, I also have my hands on the pulse of the local market, and am privy to a “perceived” deal or [...]
Tags: great interest rates·mortgage qualification·Qualify for mortgage·strict underwriting guidelines
