Many homeowners who have less equity in their home are confused about their options available improving their loan terms. Should they be asking for a HARP (Home Affordable Refinance Program) refinance or a HAMP (Home Affordable Modification Program) modification? What the homeowner doesn’t know is they better find out before they call their lender. If [...]
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When a consumer calls me for mortgage rates, 90% of the time they’re looking for a 30 year fixed mortgage. I can almost guess immediately what mortgage the customer is going to ask for before they finish their sentence. Let me start off by saying that I do not have anything against 30 year fixed loans. They [...] It appears that more homeowners with little-to-no-equity are gaining an interest in refinancing. More importantly, they’re gaining confidence that there is an option. This is good news as it appears the Home Affordable Refinance Program (HARP) is gaining both momentum and attention. This seems like the right time to give homeowners an extensive guide to [...] Earlier this month Fannie Mae announced the release fo their “Deed for Lease program. If an owner cannot afford to pay their Fannie Mae backed mortgage, they can deed the property to Fannie Mae and rent it back at market rate. The homeowner can obtain a lease up to 12 months and either sign a [...] In the mortgage industry, lenders are required to send clients educational booklets relative to their loan application. I’ve always found it odd that there isn’t a centralized place for all of these booklets, so I thought I’d post them all here. [...] |
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