SENSE AND CENTSIBILITY How to write an effective hardship letter
Like many Americans, you may have fallen on tough times and have either started to fall behind on mortgage payments or you are bound to shortly. You've heard that the government has programs that may ... Posted on 3/1/13 at 12:40 PM
REAL MONEY Struggling with your Mortgage Payment Due to Unemployment?
Through MHA's Home Affordable Unemployment Program (UP), depending on your situation, your mortgage payments may be reduced to 31 percent of your income or suspended altogether for 12 months or more.
... Posted on 3/8/12 at 11:29 AM
IN THE BLACK Mind your Mortgage
Mind Your Mortgage by Robert Bernabe is a great resource for both people searching for their first mortgage and people who already have a mortgage. Like he says in the book, most things we purchase th... Posted on 2/4/11 at 8:26 AM
WASHINGTON (AP) — A landmark $25 billion settlement with the nation's top mortgage lenders was hailed by government officials Thursday as long-overdue relief for victims of foreclosure abuses. But consumer advocates countered that far too few people will benefit.
NEW YORK (AP) — The days of the absurdly low mortgage rate are over.
The average rate for a 30-year home loan rose above 5 percent this week for the first time since last April — just as Americans are feeling more secure in their jobs and confident about the economy, and just before the big spring home-buying rush.
WASHINGTON — Nearly half of the 1.3 million homeowners who enrolled in the Obama administration’s flagship mortgage-relief program have fallen out.
The program is intended to help those at risk of foreclosure by lowering their monthly mortgage payments. Friday’s report from the Treasury Department suggests the $75 billion government effort is failing to slow the tide of foreclosures in the United States, economists say.
By Martin Crutsinger, The Associated Press
, August 21, 2010
The era of record-low mortgage rates is over.
The average rate on a 30-year loan has jumped from about 5 percent to more than 5.3 percent in just the past week. As mortgages get more expensive, more would-be homeowners are priced out of the market — a threat to the fragile recovery in the housing market.
The government’s bold new plan to stem the foreclosure crisis aims to succeed where previous efforts have fallen flat. Yet just as before, the odds are long, and many struggling borrowers won’t qualify.
In theory, the effort unveiled Friday would help millions of troubled homeowners who owe more on their mortgages than their homes are worth, or who are jobless and need a break on their payments.
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