If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!“We are responding to consumers’ desires to have more refinancing options,” said Freddie Mac Executive Vice President Don Bisenius. “As an added benefit, we are expanding the program and providing greater flexibility in financing closing costs. Freddie Mac is [...]
Domain names are an integral part of business in the 21st Century. Some are perpetually popular. Most rise and fall in popularity, influenced by a variety of factors. One domain name that is currently enjoying an upsurge in popularity is RefinanceRates.com. And it is going to be auctioned off in early June 2009.
“Domain names continue [...]
by Constantine von HoffmanApril 28, 2009
Foreclosure
The Obama administration has announced a new program to help borrowers with second mortgages stay out of foreclosure. Under this program, the government will pay mortgage servicers $500 upfront and $250 a year for three years if they successfully modify a second mortgage, such as a home equity loan.
The Treasury Department says second mortgages are [...]
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Because good rates don’t do any good when no one can qualify, Fannie Mae is relaxing underwriting standards to make it easier for homeowners to refinance (h/t Mortgage Insider). They’ll be loosening credit, appraisal and income requirements in order to open up the tight refi market.
From Bloomberg:
Fannie Mae will drop some credit-score requirements, reduce [...]
Last week, average 30-year mortgage rates jumped 0.35 percentage points to 5.24%. Not coincidentally, that same week the Mortgage Bankers Association’s index of mortgage applications dropped nearly 10%. (This came on the heels of the incredibly-not-surprising news about December’s nearly 11% drop in new housing permits from November. Starts were down 15.5%.)
Apparently 5% is the [...]
Bank Industry Slams Citigroup Mortgage Deal - The American Bankers Association thinks giving bankruptcy courts more authority in forcing cram-downs will increase the cost of mortgage lending.
Foreclosures More Than Doubled In 2008 - U.S. foreclosures increased by 81% over 2007. Nevada, California, Arizona & Florida top the list.
Bankruptcy System Takes On The Mortgage Mess - The Federal Bankruptcy [...]
The Internal Revenue Service (IRS) is giving struggling American homeowners a gift this holiday season. No, they aren’t canceling homeowners’ tax debt. They are, however, making it easier for distressed homeowners to avoid having a federal tax lien block the sale or refinancing of a home. They are also expediting the process for requesting a [...]
There was an eruption across news networks and websites earlier this week as Henry Paulson announced that the Federal bailout package, dubbed the TARP (Troubled Asset Relief Program) would no longer function as a program to purchase troubled assets. Sparing no time to allow the irony of this to sink in, Paulson proceeded to outline [...]
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