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Private transfer fee ban could cost homeowners.

By: Kenneth R. Harney Home Loans Views: 3211 | Comments: 0 | Votes: 0

Kenneth R. Harney

A federal agency is moving to prohibit controversial "private transfer fees" on all mortgages funded by Fannie Mae and Freddie Mac. But its proposed ban might extend to transfer fees routinely collected by community associations across the country -- potentially forcing some of them to raise assessments on thousands of unsuspecting homeowners.   Edward J.   Kenneth R.   More

Reverse Mortgages - Pros and Cons

By: Goran Jovanovic Home Loans Views: 2633 | Comments: 0 | Votes: 0

Goran Jovanovic

A reverse mortgage is a type of loan that allows seniors to turn some of their home's equity into cash. Unlike a home equity loan or second mortgage, however, the loan doesn't have to be paid back until the home is sold or it is no longer the mortgage holder's primary residence. - Income from a reverse mortgage typically does not affect Social Security or Medicare benefits. More

Mortgage Modifications

By: Goran Jovanovic Home Loans Views: 2771 | Comments: 0 | Votes: 0

Goran Jovanovic

Many homeowners tackle household repairs and improvement projects themselves to save money. Yet when it comes to updating their mortgages, these same do-it-yourselfers may not even consider it. Why? Modifying your mortgage can save money, and it's not difficult. Here's how: A loan modification is simpler than refinancing. When modifying your mortgage, be sure to shop around. More

Lender plans to forgive a portion of principal

By: Kenneth R. Harney Home Loans Views: 3709 | Comments: 0 | Votes: 0

Kenneth R. Harney

For hundreds of thousands of homeowners who are underwater on their mortgages, it's been a tantalizing question: Is there any way that our lender might agree to lower the amount we owe — not just the monthly payments but the principal debt itself? Until now, the answer virtually always has been a resounding no. Announcement soon? The same would be true for the second and third years. More

Credit score can survive smart loan modification

By: Kenneth R. Harney Home Loans Views: 2884 | Comments: 0 | Votes: 0

Kenneth R. Harney

Financially stressed homeowners looking to cut their mortgage payments through a loan modification, short sale or principal reduction under one of the Obama administration's programs needn't wreck their credit scores in the process. Other alternatives to modification -- such as foreclosure and bankruptcy filings -- can tank your scores and take years to rehabilitate. Kenneth R. More

First-Time Homebuyer Credit Comparison Chart

By: Tax Advisors Home Loans Views: 11298 | Comments: 0 | Votes: 0

Tax Advisors

First-Time Homebuyer Credit Comparison Chart     Housing and Economic Recovery Act of 2008 American Recovery and Reinvestment Act of 2009 Worker, Homeownership and Business Assistance Act of 2009 Effective for purch More

Military homeowners benefit under latest tax-credit legislation

By: Lew Sichelman Home Loans Views: 2945 | Comments: 0 | Votes: 0

Lew Sichelman

Reporting from Washington - The United States tries to take care of its warriors, a tradition that Congress has continued in little-known sections of the latest home buyer tax credit legislation and one of the government's main programs to help military owners who must sell their houses for less than what they owe. 1, 2009, and April 30, 2010. 1, 2006, and Sept. More

Making home Affordable program on pace to help millions of homeowners

By: Sanda Hnatjuk-Bahic Home Loans Views: 3213 | Comments: 0 | Votes: 0

Sanda Hnatjuk-Bahic

  More than 400,000 modification offers have been extended and more than 230,000 trial modifications have begun, according to the report.  At the current pace, the program is on track to offer assistance to up to 3 to 4 million homeowners over the next three years. 1, 2009. More

Where Is Our Economy Headed?

By: Mark Goldman Home Loans Views: 6156 | Comments: 0 | Votes: 0

Mark Goldman

Here is my comments to an article from SeekingAlpha.com. The original can be found at: http://seekingalpha.com/article/156363-end-of-recession-predictions-look-increasingly-flawed I do not believe the economy will change if the people running it are the same guys that put us into this tailspin. Goldman Sachs had a great quarter with bailout money. Who will take up the slack? More

Making Home Affordable Program

By: Tax Advisors Home Loans Views: 1732 | Comments: 0 | Votes: 0

Tax Advisors

On February 18, 2009, President Obama announced his Making Home Affordable Program (MHA), designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages. For more detailed information, visit MakingHomeAffordable.gov.  More