Aiming to lift a major drag on the economy, President Obama is launching a new assault on the foreclosure crisis that aims to help struggling homeowners refinance. (Feb. 1)
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Obama Bids to Expand Mortgage Relief
Obama unveils mortgage refinancing plan
President Obama on Wednesday urged Congress to make it easier for homeowners to refinance their mortgages at lower interest rates even if they owe more than the value of their home.
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Mortgage lenders agree to pay $25B
WSJ’s Steve Moore weighs in
Delaware Mortgage Rate Update January 16 2012.mp4
http://www.DelawareMortgageLoans.net – Delaware Mortgage Rate update for week of January 16, 2012. John R. Thomas with Primary Residential Mortgage provides mortgage rate and market update. Call 302-703-0727 to for a free mortgage planning consultation.
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Real Estate: Mortgage Escrow — To Do Or Not To Do
http://EverythingFinanceBlog.COM:
An escrow is when you include your taxes and insurance with your monthly mortgage payment.
Read More: http://everythingfinanceblog.com/2007/11/mortgage-escrow-to-do-or-not-to-do.html
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Blitz Says Tighter Mortgage Lending Is Hurting Housing
Jan. 20 (Bloomberg) — Steven Blitz, an economist at ITG Investment Research, Daniel Alpert, managing director at Westwood Capital LLC, and Stephen Wood, chief market strategist at Russell Investments, talk about the U.S. housing market, increased lending standards at banks and the European sovereign debt crisis.
They speak with Pimm Fox on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)
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Debt and Mortgages
Mark Carney is voicing concerns about household debt. So why keep interest rates so low? And what about all those tempting low mortgage rates? Should Canadians be taking advantage of them? Havard Gould and Amanda Lang explain.
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Mortgage Minute: ARM
http://www.kw.com
An Adjustable Rate Mortgage may offer a lower initial interest rate and monthly payments than a conventional fixed rate mortgage.
After an initial term, the interest rate on an adjustable-rate mortgage loan is re-set periodically to keep the rate in line with current market interest rates. For example, a 3/1 ARM loan offers a fixed rate for the first three years. The interest rate adjusts once a year thereafter. 5/1, 7/1 or 10/1 ARM loans offer a fixed rate for the first five, seven or ten years respectively, adjusting yearly thereafter. The lender sets the adjustable interest rate by adding a fixed percentage to an index rate. When the interest rate goes up, your monthly payment also increases.
Most ARM loans have a periodic rate cap and lifetime cap to limit the amount the interest rate can increase each adjustment period and over the term of the loan.
If your start rate is less than the fully indexed rate your interest rate and monthly payment may increase significantly at the first adjustment — even if the Index does not change. And, your interest rate and monthly payment will increase even more if the Index rises.
Discuss with your mortgage professional how an adjustable rate mortgage may be the solution to your financing needs.
For more information, please contact a Citi Mortgage Consultant at 1-877-693-0217.
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Mortgage meltdown hurts local senior citizens
Mortgage meltdown hurts local senior citizensMajor Lending Changes Affecting Mortgage Rates
503.698.5801 – see today’s rates at www.GoNorthwestLoans.com
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