Published On May 10th, 2010

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 2009. That’s over $1 Trillion more than 2008. However, mortgages must make sense in today’s terms – not the looser standards permitted by lenders a few years ago.

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Published On January 25th, 2010

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.

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Published On March 9th, 2009

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 worth. The second part attempts to lower monthly payments for homeowners at risk of losing their home. Here is a brief overview of both initiatives.

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Published On February 23rd, 2009

The $787 Billion stimulus bill is made up of tax cuts and spending programs aimed at reviving the US economy. Although the package was scaled down from nearly $1 Trillion, it still stands as the largest anti-recession effort since World War II. One of the major benefits of the plan is a tax credit for new homebuyers. According to the plan, first-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the…

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Published On September 9th, 2008

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. 

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Published On June 23rd, 2008

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 will be.

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Published On March 2nd, 2008

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 percent and mortgage lending to that same group has increased 58 percent.

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Published On March 2nd, 2008

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. These more stringent guidelines, many of which relate to credit scores, are making it difficult to impossible for individuals with less-than-perfect credit to secure the loans they need—whether to buy a new house or refinance a loan to keep their homes out of foreclosure or just traying to keep there loans from…

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Published On March 2nd, 2008

 posted an informative article below outlining the Presidents’ plan to help those who more than 30 days behind on their mortgage payments.Bush will let the Federal Housing Administration, which insures mortgages for low-and middle-income borrowers, guarantee loans for delinquent borrowers, allowing them to avoid foreclosure and refinance at more favorable rates, according to an administration official.

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Published On March 2nd, 2008

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 (ARMs) for many homeowners.

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