The Obama administration has proposed a national refinance plan in an effort to stimulate the housing market by helping those homeowners who are underwater on their mortgages, or owe more on their loan than what the home is currently worth. Based on the proposal, the program would be available to responsible mortgage borrowers…and could save [...]

Original article by Jason Alderman, edited by Robert Weinberg You can scarcely turn on the TV without seeing ads for reverse mortgages. They’re touted as a great tool for cash-strapped seniors to tap their home equity to pay off bills while remaining in their homes with no monthly mortgage payments. Although that may be true [...]

You may have heard that President Obama plans to open up refinancing to more homeowners who are underwater. If you’ve been hearing questions about this program or are just curious about what the plan involves, here are some of the major highlights: What’s Really New? First, it’s important to realize that the president’s proposal is [...]

          QUESTION: Is my mortgage well integrated into my financial plan? ANSWER: While securing a low rate or owing little on your mortgage are great achievements, neither will make you financially secure if you don’t also have a plan in place for retirement or have liquid cash on hand to cover [...]

What You Need to Know and Do Credit reports have always been important, but they’ve grown even more important in recent years. Now more than ever, you need to make sure you understand what’s on your credit report – and you need to know what steps you can take to improve your score. For example, [...]

Original article written by Ken Harney of the L.A Times Home loan shoppers should see an addition to the application paper blitz starting Jan. 1 — a mandatory alert on how their credit scores might affect the rate quote and terms they receive from their lender. The new disclosure represents the end product of a [...]

With foreclosures soaring — and homeowners with unblemished payment histories abruptly walking away from their houses with no warning to lenders — the two major producers of credit scores have begun changing how they evaluate consumers’ risks of default. The revisions could affect you the next time you apply for a loan. In late October, [...]

This summer, Fannie Mae instructed lenders that they should adopt a new policy that would include a second review of an applicant’s credit report just prior to closing. Why? The answer is simple: the credit profile of a borrower may have changed between the time of the initial review of the credit report and the [...]

QUESTION: Changes in the housing and mortgage industries have prompted many people to wonder: “Can you get a loan today?” ANSWER: The answer is simple: Yes! Despite the negative headlines over the past year, there’s actually plenty of money available for loans. In fact, reports indicate that over $2.7 Trillion in loans were originated in [...]

If you were listening to the housing news last week, you probably heard a number of reports about lending changes that were announced by the Federal Housing Administration (FHA). While many of the news reports were confusing, the truth is pretty clear, and isn’t as bad as some people may have heard. Overall the measures [...]

President Obama unveiled his plan to help stabilize the housing market and keep millions of borrowers in their homes. The Homeowner Affordability and Stability Plan includes two initiatives to help struggling homeowners. One is an incentive for homeowners who have less than 20% equity in their homes, or who owe more than their home is [...]

  Here is an overview of some benefits of the Economic Stimulus Plan for 2009 and the Homeowner Affordability and Stability Plan that may impact you. Stimulus Plan – Tax Credit for Homebuyers The $787 Billion stimulus bill is made up of tax cuts and spending programs aimed at reviving the US economy. Although the [...]

Last month, President Bush signed the “Housing and Economic Recovery Act of 2008″ into law. This $300 Billion rescue plan is aimed at helping struggling homeowners avoid foreclosure, as well as boost confidence in the housing market. Although the bill is several hundred pages long and contains a number of far-reaching provisions, here are a [...]

Foreclosures have become a growing part of today’s economic reality. A combination of greedy lending and irresponsible home buyers have created a lose-lose scenario for everyone involved. So what should the train of thought be for a homeowner who is behind on their mortgage payments? The longer you wait to get help, the harder it [...]

Originally Posted on February 13, 2008  There is some more good news for homeowners who are delinquent on their mortgages: The program, dubbed “Lifelife” was announced yesterday and will delay foreclosure for tens of thousands, and give them the time they need to work out modifications with their lenders.  I included the details of the program in the article below. [...]

Originally Posted on February 7, 2008  by Barry Habib – Contributing Editor to CNBC.com  The Federal Reserve has been on a rate cutting spree once more. Many mortgage applicants are calling their mortgage representative and expecting a lower interest rate. Others who have been waiting to refinance are puzzled as to why mortgage rates have [...]

Originally Posted on January 31, 2008  Hot on the heels of its surprise inter-session rate cut of 75 basis points last week, the Federal Reserve cut key interest rates again, the fifth straight cut since September 2007. In its statement last week, the Fed said it had decided to cut the federal funds rate “in [...]

Originally Posted on January 23, 2008 In a nearly unprecedented move the Federal Reserve early Tuesday cut the Federal discount rate by .75 of a point, the largest single rate cut in 20 years. The move did not come at one of the Fed’s regularly scheduled meetings but rather overnight in response to some truly [...]

Original Post: December 11, 2007  The President annouced a new plan last week to help borrowers who may go into default on their home loans due to adjustable rate mortgages. it definitely looks like it will help “some” people. Below are the details of the program, however if you have ARM rate mortgage and would [...]

Originally Posted on October 30th 2007  I was reading a recent news article on Yahoo! Finance (http://news.yahoo.com/s/nm/20071028/us_nm/usa_creditcards_debt_dc) about how mortgage borrowers are using credit cards to get cash so they can make their mortgage payments, and in turn delay the default on their homes. At first glance, one may ask why people would continue to [...]

Top bank regulator suggests industry cuts losses now to prevent foreclosures. By Jeanne Sahadi, CNNMoney.com senior writer NEW YORK (CNNMoney.com) — The heat on U.S. mortgage lenders and servicers was turned up a few degrees this week when the country’s chief bank regulator publicly proposed that they permanently freeze interest rates on subprime adjustable-rate mortgages [...]

I posted an informative article below outlining the Presidents’ plan to help those who more than 30 days behind on their mortgage payments. If you are currently experiencing difficulty paying your mortgage, credit card debts, taxes, or anything else contact my office today for a free consultation at 1-888-456-5635. Your Friend, Robert Weinberg Aug. 31 [...]

With credit requirements tightening and banks making changes it seems almost on a hourly basis, borrowers have fewer choices in mortgage loans wich is causing a lot of hardache! As record numbers of foreclosures pervade the subprime market, lenders are becoming more and more anxious, and as a result, they’re tightening their mortgage loan guidelines. [...]

Experian, the credit reporting agency, released a study last week that showed that subprime consumers (Experian credit score under 620) are more likely to be 30 days late on their mortgage payments than their credit card payments. The study also found that over the past four years, credit card lending to subprimers has increased 137 [...]