Although mortgage rates and home prices are at an all time low, we’re currently dealing with a housing market that creates many barriers for first time home buyers. Often times even those that meet all the qualifications and have 20% available as a down payment, can be rejected.  But leave it to the American people [...]

As stated by Freddie Mac last Thursday, the average interest rate on a 30-year fixed-rate mortgage fall down to 4.95% this week from 4.97% last week. Based on the mortgage giant’s weekly survey, lenders offer a rate of 20% down payment for borrowers with good credit and the upfront fees averaged 0.7% of the loan [...]

As terrible as it is to lose your house to foreclosure, at least it’s a relief to put your biggest financial headache behind you, right? Wrong. Former homeowners may still be on the hook if there’s a difference between what they owed on their mortgage and what the bank could sell it for at auction. [...]

Officials release details of $75 billion loan modification and refinancing programs. Borrowers can start contacting loan servicers, though companies will need time.

Per the NEW YORK (Reuters) – The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed “short sales” of homes and other loan modification alternatives to stem a rising tide of foreclosures. The Home Affordable Foreclosure Alternatives Program providesfinancial incentives and simplifies the procedures for completing short sales, a growing [...]