New HAMP rules may help reduce loan principles if you can't refinance your home. HAMP rules are changing loan modification options for homeowners that can't refinance their mortgage loans. After being turned down for loan modification on a primary mortgage consider new HAMP rules and equity sharing agreements. Homeowners underwater with their mortgage payments have many options with loan modifications and equity sharing agreements.
Is it better to buy a foreclosure house or buy a home in short sale? Buying a short sale home involves lender approval before purchase and could take months.
Buying a foreclosure house owned by a bank is easier than a foreclosure home for sale by owner. It may be easier to buy foreclosed homes in some areas. When buying a short sale the home buyer must get bank approval before buying a house. The foreclosure process and short sale process is complicated.
Watch out for property tax issues with a quit claim deed. Using a quit claim deed to gift a vacation property to a family member may be a big tax mistake and cause higher property tax. A quit claim deed gift may mean a large amount of property taxes. Instead of receiving a vacation property from a family member using a quit claim deed, it's much better to receive a property through inheritance or buy the property. Explore other ways of giving your house to a family member, rather than using a quit claim gift.
"How do I refinance my mortgage and find a good mortgage lender?" answered with four easy steps. The four steps to find a good mortgage lender include check your credit report and check your credit score for free and check your home value. When refinancing a mortgage be sure to find a good mortgage lender. You'll never have to ask "How do I refinance my mortgage and find a good mortgage lender" again.
The mortgage interest rate forecast is low due to low buyer interest and future house prices remaining low. Future house prices and mortgage interest rates are key to housing recovery. With less demand for houses, mortgages interest rates forecast may go down. A stronger housing market will mean higher mortgage interest rates. Keep an eye on house price and mortgage interest rates to forecast the housing market bounce back.
The Housing Finance Agency and the Hardest Hit Fund will soon offer more homeowners assistance. President Obama announced the Hardest Hit Fund, through the Housing Finance Agency, will offer more homeowners assistance for underwater homeowners. $2 billion of additional homeowners assistance will be available for those hardest hit. The announcement of extra homeowners assistance comes as foreclosure are reportedly rising 4 percent and more Americans reaching 99 weeks of unemployment. Eligibility for the hardest hit fund explained.
NeighborWorks America announced that more than one million homeowners have been counseled for foreclosure. Homeowners received counseling by the National Foreclosure Mitigation Counseling Program. More homeowners are expected to seek foreclosure counseling as 4 million more homeowners are expected to enter into foreclosure this year. NeighborWorks America offers free foreclosure counseling to homeowners facing foreclosure. Foreclosure counseling proved affective by survey that says those that did receive foreclosure counseling were more likely to avoid home foreclosure.
A Real Estate Depression makes it difficult for real estate professionals to make a living. And, if you know you're facing tough times, it's hard to enjoy the last few days of summer. So many Americans are looking for a job (16.5 million, conservatively), or are facing foreclosure (as many as 10 percent of all homeowners).
Foreclosure Counseling by NeighborWorks America reaches 1 million homeowners. NeighborWorks America announced that more than 1,000,000 homeowners facing foreclosure received counseling thanks to the Congressionally-funded National Foreclosure Mitigation Counseling (NFMC) Program. NeighborWorks America anticipates even more homeowners will want counseling with 4 million more homeowners expected to enter into foreclosure this year. The report also includes new information about the cause of foreclosure and the effectiveness of foreclosure counseling.
New credit card rules will go into effect on Aug. 22, 2010 according to the Independent Community Bankers of America. New credit card rules deal with over-the-limit fees, inactivity fees and annual percentage rates. Penalties from credit card companies will not be allowed to exceed $25 in many cases. In addition, the new rules require credit card companies to explain increases in one’s APR and reevaluate that rate increase biannually.
