Uncategorized Articles

Posted on February 13   By MLP Blog
Casualties continue to mount as the subprime crisis rakes the housing market. Mortgage applications plummeted last week, according to the Mortgage Bankers Association. The drop is indicative of growing unrest in the housing market, as rising interest rates, stricter lending guidelines and the subprime bubble continue to affect prospective homeowners. Applications to buy homes dropped 3 percent and mortgage application volume fell 3.4 percent the week ending June 15, according to the MBA Market C.... Read More...
Posted on February 13   By MLP Blog
In light of the growing fallout in the subprime mortgage market, this could be the year the long-suffering Federal Housing Administration gets its much-needed makeover. Unfortunately, though, it's taking a brutal financial climate for some homeowners to trigger an increased push for modernization legislation. Despite that nasty climate, legislation now making its way through Congress that would revamp the FHA and its mortgage programs is still far from a sure thing. Legislation that would overha.... Read More...
Posted on July 29   By MLP Blog
When searching in Google for information on a company, many times, the Google Suggest feature will suggest relevant searches. for example, if you search for "Lending Tree", it will suggest "Lending tree Reviews" and "Lending Tree Complaints". It is wise to see what is showing up and at least respond to any complaints when possible. Otherwise, you get some negative reviews ranking well, such as Lending Tree's situation. USAA also has some issues as seen by these USAA Reviews. Action items you c.... Read More...
Posted on June 07   By Justin McHood
In May, Fannie Mae announced that they would require multiple credit reports from borrowers when getting a loan that would be underwritten to FNMA standards. And if you aren't careful, this new "last minute credit report pull" can delay or possibly even deny you being eligible for a loan. When getting a FNMA conforming loan, lenders are now required to pull a "new" credit report on the day of closing and if any new accounts show up, then the loan will need to be re-underwritten taking the new .... Read More...
Posted on May 27   By Francine Huff
Thinking of refinancing into a 15-year mortgage? Or maybe you are planning to buy a home and want to finance it with a 15-year home loan instead of being tied into a 30-year mortgage. Consider the pros and cons of 15-year mortgage loans. Current Mortgage Rates Are Low Anytime you finance with a 15-year mortgage you are going to get a lower rate than with a 30-year loan. Rates on 15-year fixed mortgages are at 4.21% and 30-year home loans are averaging 4.78%. Mort.... Read More...
Posted on May 11   By Justin McHood
Consumers are on alert when they talk with mortgage loan officers more than I have seen in recent years. All over the news, people are being bombarded with stories about how people are being foreclosed on all because some unethical mortgage loan officer put them in a bad loan and now they can't afford their payments. And in some strange way of thinking, people seem to gravitate toward the bigger lenders thinking that there is no way that anyone from would be able to do something that would be .... Read More...
Posted on March 29   By Francine Huff
The Obama administration said it is increasing the number of states that will receive funds aimed at stemming the tide of foreclosures. The news came on the heels of changes made last week to the government's mortgage loan modification program. The second HFA Hardest Hit Fund is targeting five states that have a high percentage of homeowners in economically distressed areas where unemployment was higher than 12% in 2009. The states that will receive $600 million of funding to help fami.... Read More...
Posted on March 22   By Francine Huff
More people are using cash to purchase homes. Data from the National Association of Realtors (NAR) show that 26% of home sales in January were all-cash purchases, compared with 18% a year earlier, according to USA Today. Although some buyers are paying cash for homes to live in, many of these transactions are attributed to investors getting back into the real estate market. The NAR reported that 17% of home purchases in January were made by investors, up from 15% in December and 12% in Novem.... Read More...
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