Mortgage news and helpful tips

Fannie Mae introduced a quality control measure which is for the purpose of the safekeeping of the investors against the future home buyer assuming more debt than they can manage and as a preventative measure to prevent possible future defaults.

Loan Modification, or more specifically, Mortgage Modification is a tool that you may be able to use to stay in your home rather than loose it to Foreclosure. It differs from a Refinance in that Modification programs are designed to modify the terms of your existing Mortgage. A Refinance replaces your existing mortgage with an entirely new one. Since 5% of all Adjustable Rate Mortgages are going to “Reset” in the next 10 months, you could be in real trouble if you have one of those ARM loans. Ideally, you want to refinance into a low, Fixed Rate Mortgage before your current mortgage resets and before Rates on Fixed Mortgage Loans start to rise!

Recently, Las Vegas has been the greatest place to purchase a home if you're thinking of buying a home and staying in it for many years to come.

Service Members... can still get the $8,000 tax credit on a First Time Homebuyer Purchase! Or you could qualify for the $6,500 tax credit for current homeowners buying a new home!

Buying your first home can be daunting if you aren't equipped with the right terms, so today we're going to introduce to you one of the most widely used terms Mortgage Insurance and Private Mortgage insurance (MI and PMI)

At some point you will want to purchase a home and at that point you will need to apply for a mortgage loan. However, purchasing a home may become complicated if you aren’t aware of the various mortgage terms. One key term we’re going to define today is an ARM loan.

Financial turmoil in Europe is bringing our rates back near 50-year lows.

Sometimes applying for a mortgage loan can be the most practical way when deciding to purchase a home. However, this experience can soon become a problem when trying to get your application approved. For better chances of getting your mortgage loan approval, we have provided these simple guidelines.

Go to valleywestmortgage.com to view current rates for the up coming weekend.

According to Freddie Mac in an article released by MSN: Mortgage rates fall to lowest level of the year! In April, mortgage rates were dropping and a month.