What can I expect from home loan interest rates in the future?
Carlos L. McDade, Esq., of Black & LoBello talks about the new HUD policy that will increase the cost of mortgage insurance and, as a result, raise the cost of home mortgages.
Negative Equity Refinance Program
Starting September 7, 2010, the Federal Housing Administration (FHA) will offer a new refinance program to qualifying underwater homeowners. To be able to participate in the program you must be current on your home loan, your credit score must be 500 or above, and the home must constitute your primary residence. Further, all lien holders […]
Government Arrests Mortgage Lenders
As part of Operation Stolen Dreams, the government’s push against mortgage fraud, federal authorities investigated 1,215 criminal defendants allegedly responsible for more than $2.3 billion in losses and made 485 arrests. Unlike previous mortgage fraud sweeps, Operation Stolen Dreams focused on federal criminal cases as well as civil enforcement, recovering money for victims and increasing […]
Government Helps Make Loan Modifications Permanent
If you are a homeowner who has received a home mortgage loan modification recently, chances are your lender offered you a three-month trial program. The three-month trial program is a creation of the Federal Government’s Making Homes Affordable Program (MHA). Homeowners are required to make a mortgage payment for three months in a row, normally […]