Archive for the 'Loans' Category
Fed Expected to Cut Key Interest Rate Tuesday
The Federal Reserve begins a two-day meeting today where it is expected to cut it’s key interest rate, perhaps to an all-time low.
The Fed will likely announce Tuesday that it is cutting its key rate in half to just 0.50 percent. However, a few economists predict the Fed will go even further and cut […]
Mortgage Applications Surge After Fed Action
Mortgage applications skyrocketed last week in response to the Federal Reserve’s announcement that it would buy debt from Fannie Mae and Freddie Mac.Even with the shortened Thanksgiving week, the mortgage applications index increased 112.1 percent to 857.7 compared to 404.4 the previous week on a seasonally adjusted basis. On an unadjusted basis, the index increased […]
Participating Lenders for the HOPE for Homeowners Program
Last month I wrote about the FHA HOPE for Homeowners Program. For the most current list of participating of participating lenders, go to:
http://portal.hud.gov/pls/portal/docs/PAGE/FHA_HOME/LENDERS/LIST_OF_LENDERS_WHO_ARE_PARTICIPATING_IN_THE_HOPE_FOR_HOMEOW/H4H%20LENDER%20LIST%20(11-10-08).PDF
When contacting any lender on this list, use the contact information provided. Do not give anyone money or pay any fees until you have spoken with your existing lender and know it is participating […]
Review of the Veterans Benefits Improvement Act of 2008
Last month 2008 President Bush signed into law S. 3023, the Veterans Benefits Improvement Act of 2008. In light of the current housing crisis and the overall rough economic times headed our way, this new law will accomplish many amazing things for our Nation’s veterans and active military and thus help our overall economy.
Veterans Benefits […]
$300 Billion in FHA Assistance Available Now
Beginning today, eligible borrowers can refinance into a new loan that they can afford through FHA’s Hope for Homeowners program. Last July, Congress approved FHA to insure up to $300 billion in new loans through the program targeted to struggling families trapped in mortgages they currently can no longer afford.
The program offers government insurance to […]
Long Beach, CA: Second Mortgage Assistance Program
The Long Beach Housing development Company (LBHDC) offers a program to promote neighborhood stabilization through increased home ownership opportunities, specifically for the benefit of persons and families of low- and moderate-income. This program is the Second Mortgage Assistance Program. The second mortgage assistance is in the form of a secured subordinate mortgage with contingent, deferred […]
Mortgage Forgiveness Debt Relief Act of 2007 Signed Into Law
The Mortgage Forgiveness Debt Relief Act of 2007 (H.R. 3648) was officially signed into law yesterday, December 20th, 2007, by President Bush. The main objective of this bill was to amend the Internal Revenue Code of 1986 to exclude discharges of indebtedness on principal residences from gross income.
If your lender forgives a portion of the […]
Interest-Only Payments and Negative Amortization
Keeping the early mortgage payments as low as possible is a recentconcept that has made loans possible for many real estate investors.To understand how this works, it may be helpful to look for a moment at the basic mortgage process. In a mortgage, monthly payments by the borrower do two things: pay the interest charged […]
You Don’t Need Money to Own Real Estate
I say you must own real estate, rather than need to or should. If you choose to change your life and create the income you know you deserve by investing in real estate, you must do certain things. One essential thing you must do is buy property in the United States today. With low interest […]
Home Equity Line of Credit
Using a credit line to borrow against the equity in your home has become a popular source of consumer credit. And lenders are offering these home equity credit lines in a variety of ways.
You will find most loans come with variable interest rates, some come with attractive low introductory rates, and a few come with […]
