Tag Archives: mortgage insurance premiums

The New Mortgage Refinance Program

Underwater homeowners with mortgage guaranteed by Fannie Mae and Freddie Mac will be able to refinance their loans under Obama’s new plan, saving themselves about a thousand dollars a year if they fill out all the paperwork correctly. Kathleen Pender … Continue reading

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FHA Needs A Bailout, Raising Mortgage Premiums

So far taxpayers have been on the hook for only a couple of billion dollars for the FHA. Mortgage insurance is a rotten business. It almost took down AIG. Only a massive $100 billion from the government (now repaid) kept … Continue reading

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Sometimes Better To Refinance Than Modify Mortgage

Huliq reports: “Don’t try to modify mortgage just because you owe more than your home is worth. Reuters reported today that the Obama administration is behind on their goals for mortgage modifications and is still seeking alternative ways to help … Continue reading

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FHA Buying Subprime Mortgages

From Bloomberg: Congress wants FHA to do more. “FHA has completely replaced subprime and Alt-A,” said Olson, former director of market research at Freddie Mac, the second-biggest mortgage buyer, who now runs Wholesale Access Mortgage Research & Consulting Inc. in … Continue reading

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Five Key Answers On The Housing Relief Act

From AZCentral.com: Answer: The law’s most far-reaching provision gives financial assistance to the government-sponsored Federal National Mortgage Association and Federal Home Loan Mortgage Association, which own or insure nearly half of the roughly $12 trillion in U.S. mortgage debt. Both … Continue reading

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Reverse Mortgage Update

Emily Brandon writes: The housing bill signed by President Bush on July 30 raises the amount seniors can borrow using federally backed reverse mortgages and lowers the cost of getting the cash. A reverse mortgage is a loan against your … Continue reading

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Firing Up The Housing Market

From Fox Business: Without mortgages there is no housing market, goes Paulson’s theory – a sound one, at that. “The pendulum has swung,” said Juan Boldizsar, a mortgage broker from Chicago, referring to lenders’ sharp turn away from the lax … Continue reading

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Don’t Ignore The Margin!

Gary Eldred writes in his new book: The interest rate you pay for your ARM includes the index rate plus the margin. The margin pays a lender’s overhead, operating expenses, and profit, as well as the costs lenders suffer when … Continue reading

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Making Your Low Down Payment Work For You

(ARA) – As spring home buying season begins, financing options remain available for borrowers who do not have the traditional 20 percent down payment.   The tax deduction was first approved by Congress in late 2006 and applied to loans … Continue reading

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Hope For Homeowners

By John Shields You may have read the statistics in the paper or saw the video of house after house with a for-sale sign in the yard on the news. I almost became a statistic, and any of those houses … Continue reading

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