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Reverse Mortgage Guide
With reverse mortgages borrowers never has to make any payments while they live in their homes. The loan is paid off when the borrower moves or the property is sold.
Economic Thaw
RealtyTrac credits the drop to “Foreclosure prevention policies and government legislation [which] are artificially distorting supply and demand equilibrium in the housing market.”
New Short Sale Program
As of April 5th, the Obama Administration is adding a new Home Affordable Foreclosure Alternatives, HAFA, to its efforts to allow borrowers to avoid foreclosure through short sales or a deed-in-lieu of foreclosure option.
Second Mortgage Push
Congressman Barney Frank, the chairman of the House Financial Services Committee, sent a letter last week to the to chief executive officers of Bank of America, Citigroup, J.P. Morgan Chase and Wells Fargo, the four biggest US banks urging them in “the strongest possible terms to take immediate steps to write down these second mortgages.”
mortgage fraud reverse mortgage personal finance Deficiency Judgment Default Nationwide Mortgage Licensing System credit cards Short-Fi Jumbo Loan second mortgage Loan Default Short Sale bankruptcy Loss Mitigation Conforming Loan Uncategorized mortgage first time home buyer tax credit Loan to Value Real Life Stories unemployment Upside Down Obama Financial Reform Obama Housing Plan Refinance Falling Home Value Lenders home value Mortgage Revision Credit economic news Loan Modification Foreclosure Help
August 24, 2009
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