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.
Ilyce Glink Show Notes - August 8, 2010 - Dan Solin, Fred Glick, John Damiano and Oxygen Financial Founders Ted Jenkin and Kile Lewis are guests on the show today. John Damiano, an associate broker with RE/MAX of Greater Atlanta talked about the number of foreclosures and short sales being sold in Atlanta. Dan Solin, a registered investment advisor and blogger for Equifax Personal Finance Blog, Huffington Post, and AOL discussed his favorite index fund strategy for investors. Ted Jenkin and Kile Lewis took the opposite tack and talked about picking individual company stocks. And, real estate broker and mortgage broker Fred Glick discussed the economy and why loans are so tough to get. Visit Ilyce's blogfor more information and links.
Ilyce Glink Show Notes - August 8, 2010 - Dan Solin, Fred Glick, John Damiano and Oxygen Financial Founders Ted Jenkin and Kile Lewis are guests on the show today. John Damiano, an associate broker with RE/MAX of Greater Atlanta talked about the number of foreclosures and short sales being sold in Atlanta. Dan Solin, a registered investment advisor and blogger for Equifax Personal Finance Blog, Huffington Post, and AOL discussed his favorite index fund strategy for investors. Ted Jenkin and Kile Lewis took the opposite tack and talked about picking individual company stocks. And, real estate broker and mortgage broker Fred Glick discussed the economy and why loans are so tough to get.
The U.S. Department of Housing and Urban Development announced the adjustments it's planning to make to its refinance program today. Starting September 7, 2010, the Federal Housing Administration (FHA) will offer to write off at least ten percent of the unpaid principal balance for certain ‘underwater’ non-FHA borrowers. Read the full press release to see if you will qualify.
A husband uses a quit claim deed to remove his spouse's name from the deed. Bad credit makes it hard to get a loan. Removing the name of a spouse with bad credit from a deed might help in getting a loan. If your name is removed from a deed find out if your name is still on the mortgage for that home. There are a few other reasons to have your spouse sign a quit claim deed and remove their name from the deed.
