Mortgages Blog

Tuesday, April 12, 2011 10:23 am
By Polyana da Costa · Bankrate.com

Fannie Mae is reviving incentives to lure buyers, as it tries to unload its thousands of foreclosed homes. The agency is offering to give buyers up to 3.5 percent of the selling price to be used toward closing costs. The incentive applies to offers submitted on or after April 11 that close by June 30.

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Monday, April 11, 2011 9:52 am
By Marcie Geffner · Bankrate.com

The Department of Housing and Urban Development, or HUD, is working on a rule that would offer lesbian, gay, bisexual and transgender people, collectively LGBT, a little more protection from housing discrimination. The agency is finalizing a federal rule that would ensure its own housing and programs are open to everyone, regardless of marital status,

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Monday, April 11, 2011 9:00 am
By Jay MacDonald · Bankrate.com

Who’s paying to mow the lawn at that foreclosure down the block? If you own a life insurance policy, chances are it’s you, mate. Not only that, but you’re probably getting hit for twice what the guy doing the mowing is pulling down. A recent interview in the St. Petersburg Times with a 45-year-old Dallas

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Friday, April 8, 2011 11:26 am
By Marcie Geffner · Bankrate.com

Mortgage interest rates rose again this week in Bankrate’s weekly survey, creating a dilemma for homebuyers: Act now to avoid the risk that rates might rise further or wait and hope that prices will drop more. Either way, it’s not an easy choice. Mortgage and realty brokers tend to emphasize the risk of rates rising.

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Thursday, April 7, 2011 4:57 pm
By Polyana da Costa · Bankrate.com

If the government shuts down, lenders would still be able to process and close VA-backed mortgages, says Barbara Sheehan, assistant vice president of mortgage products for Navy Credit Union in Vienna, Va. Sheehan says she doesn’t expect borrowers to encounter major issues when they try to close on a VA loan next week, as long

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Thursday, April 7, 2011 3:21 pm
By Polyana da Costa · Bankrate.com

If the government shuts down the impact on mortgage loans will go beyond FHA. Government officials and lenders say loans backed by Fannie Mae and Freddie Mac won’t be affected by the shutdown because those agencies operate separately from the government, even though they have been under federal control since 2008. But Fannie and Freddie,

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Thursday, April 7, 2011 1:09 pm
By Polyana da Costa · Bankrate.com

If you are scheduled to close on an FHA loan or are in the process of obtaining one you should hope for the best and brace for the worst. If lawmakers can’t reach an agreement on budget issues before midnight on Friday government will shut down and so will the Federal Housing Administration, which insures

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Tags: FHA, Mortgages
Thursday, April 7, 2011 9:05 am
By Holden Lewis · Bankrate.com

When is permanent permanent? When is a reduction a reduction? An estimated 87,000 homeowners got “permanent” loan modifications in February, a reduction from January’s 100,000 modifications, according to Hope Now, a consortium of mortgage servicers and debt counselors. Calling a new mortgage modification “permanent” is premature. Perhaps the leaders of Hope Now formerly worked in

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Thursday, April 7, 2011 8:50 am
By ReneePorsia · Bankrate.com

Normally it’s the renter who needs to prove their creditworthiness to the landlord. But with the current state of the housing market, it may be time for the landlord to prove to the renter that their credit is not in the toilet. With so many homeowners going into foreclosure each and every month at outstanding

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Tuesday, April 5, 2011 8:41 am
By Marcie Geffner · Bankrate.com

Economic data show a “very modest, but still painfully slow recovery” from the Great Recession, and one clear cause of that pain is the mortgage and foreclosure crisis, according to Harris Interactive, a polling firm based in New York, which suggested the crisis would continue “until the economy is much stronger or house prices recover.”

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