A Principal Reduction Short Refinance may be an option for Las Vegas homeowners who are making high mortgage payments on properties that are worth less than the amount owed. Even though the most recent round of legislation with the new housing rescue plan does not provide for a significant principal reduction, there are still cases [...]
$8,000 First-Time Homebuyer Tax Credit. What a motivating factor for buying a home. Recently the “American Recovery and Reinvestment Act” was completed. In this Act it gave idaho first time home buyers who are purchasing a home after January 1, 2009 and before December 1, 2009 to receive the lesser of 10% of cost of [...]
The initial intent of the Hope for Homeowner’s program was to help alleviate the market from escalating foreclosures, help to maintain property values, mitigate the leveraging (a topic to be discussed later) of assets, allow more homeowners to keep their home, and to help stabilize the national real estate market. Well, it just didn’t quite work as hoped. [...]
Delinquency on your mortgage is a serious business. There are counselors available through several sources to help you if you are in trouble. Don’t lose your home because you were unwilling to ask for help. There are numerous agencies that are available to help home owners with their finances. If you can’t find someone locally, call the number for HUD. There are times that even tough people need help. There are positive ways to make it through tough times.
There are some really great people here that
Changes to the HOPE for Homeowners (H4H) program were announced last week by HUD. I am hopeful that these changes will give the program the jumpstart that it needs to make it more viable as a way to help more distressed borrowers refinance into affordable, government-back mortgages. The changes are supposed to reduce the program [...]
Can anybody remember when the times were not hard, and money not scarce? - Ralph Waldo Emerson I am nowhere near old enough to have lived through the Great Depression. In fact, even the gas lines of the late ‘70’s are a foggy memory from my childhood. I did just turn 40, however, and I [...]
I think everyone in the country has heard of the $800,000,000,000 (that’s a lot of zeros) bailout that was put into place in October. You can benefit from the bailout in several different ways. FHA has been granted some special exceptions by the government to help homeowners get through these tough times. Here are some [...]
In news announcements this morning, Fannie Mae and Freddie Mac say they are working on a mass loan modification program. This program is designed to rework hundreds of thousands of delinquent mortgages. Loan modifications are a way to bring delinquent mortgages back to producing status from the lenders “toxic” mortgage pool. This came on the news that Citi [...]
WHAT IS AN FHA SHORT REFINANCE? An FHA Short Refinance is when a home owner refinances a loan where they owe more on their mortgage than their current mortgage is worth. FHA Short Refinance applicants are upside down on their equity, and so they need an FHA Short Refinance. The only way to refinance the [...]
During an economic downturn, especially involving real estate, there is almost always someone around to take advantage of homeowners. Now, with an increase of foreclosures, we have a number of foreclosure scams starting or continuing to operate. Homeowners facing foreclosure should beware of foreclosure scams. Scammers can cause the homeowner to lose both the home [...]
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Obama Refinance Plan For San Jose Homeowners AnnouncedHome Affordable Refinance Program Update Harp 2 Bay Area San Francisco California March 2012 Guidelines for Purchasing a 3 to 4 Unit Property with FHA Financing in Alameda, CA8 Year Fixed to 30 Year Fixed. You Can Choose Your Loan Term In San Jose
