Mortgage news and helpful tips

This is the best time I have ever seen to purchase or refinance.

I have prepared a brief summary of mortgage rates for the most common loan programs. As you know, rates can vary greatly based on credit scores and loan to value but, for this weekend, the rates below are realistic.

Economists Say Home Prices Have Already Hit Bottom https://www.dsnews.com/s/1pu-wq #dsnews # Foreclosure Anger Is Now Hitting Election Campaign - CBS News http://t.co/eG3q7zA via @cbsnews # Apple stock surpasses $300 a share. https://bit.ly/dqIfxt (via @jonlan) # Mortgage Refinancing | Home Loan Demand Falls As Refinancing Slows #Mortgage Refinancing https://bit.ly/dDxjMF #

Secretary Robert Gibbs of the White House mentioned today that the Obama Administration will accept the probe into the faulty foreclosure proceedings, but against a moratorium. This response hopefully will prevent the consequences of a widespread foreclosure freeze, while allowing banks such as Bank of America to “probe” the incidents relating to the 'robosigners', employees/agents […]

Bank of America halted foreclosures on homes across the country for the purposes of double checking improperly filed paperwork for tens of thousands cases.

The Federal Housing Administration (FHA) is changing up-front and monthly Mortgage Insurance (MI) on FHA case numbers dated October 4, 2010 or later. Currently the up-front fee is charged at 2.25% and the monthly fee is based on term and LTV. The up-front fee is being reduced to 1%. The monthly fee is being increased. […]

Welcome back, I have prepared a brief summary of mortgage rates for the most common loan programs.

After rising for two weeks, mortgage rates moved a little lower this week. Slower than average economic growth and low inflation persuaded investors to purchase bonds, including mortgage-backed securities. Following three months of declines, mortgage rates appear to be settling into a range so far in September. The most significant economic data released during the […]

Though mortgage defaults have been falling for several months, bank repossessions (where borrowers actually lose their homes) have been climbing ever higher as mortgage lenders continue to work through their backlogs. They reportedly reached a new all-time high last month, according to data set to be released by RealtyTrac tomorrow (via Realty Check)

The Department of Housing and Urban Development (HUD) and the Department of the Treasury (DOT) announced improvements to the existing Making Home Affordable Program (MHA) and Federal Housing Administration (FHA) refinance program that will give a greater number of responsible borrowers an opportunity to remain in their homes.