Adjustable Rate Mortgage Blog; February, 2009 Archive, Page 1; Adjustable Rate Mortgage Blog
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Adjustable Rate Mortgage Blog; February, 2009 Archive, Page 1; Adjustable Rate Mortgage Blog

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Number of mortgage fraud cases to rise exponentially, says FBI

02/23/09 18:16

Where there's a crisis, there are wrongdoers trying to cheat money out of the pockets of people who are already having a hard times with their finances.

As such, there is and there will be an exponential rise of cases in of mortgage fraud, according to the FBI. At this point, the agency is handling 1,800 open investigations regarding mortgage fraud cases, more than double of the previous year.

Link: Bloomberg.com: U.S.

Tags: mortgage fraud • mortgages •
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Mortgage rates slide on uncertainty

02/21/09 15:01
Here are more good news for those want to refinance their existing loans or for those who want to make new loans altogether.

Mortgage rates are reported to slide further due to uncertainty whether the economic stimulus plan will work or not. More about this mortgage report here at CNN.com

Link: Mortgage rates slide on uncertainty - Feb. 12, 2009

Tags: mortgage rates slide •
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30-year fixed mortgage rate fell

02/19/09 17:55
Freddie Mac gave homeowners a chance to refinance their loans as the rate on 30-year fixed mortgage fell to 5.15 percent this week from 5.25 percent last week. The figures can be translated to about $188 on a $200,000 loan according to Freddie Mac's chief economist Frank Nothaft. More details on Associated Press, link below

[404 Check: was link to http:/ / www. google. com/ hostednews/ ap/ article/ ALeqM5iBKSZB3l69BiVRfJpIp5SSEKir3QD96A5V6G0, anchor: Link: The Associated Press: Freddie Mac: rates on 30-year fixed mortgages fall]

Tags: freddie mac rates on 30 • 30 year fixed mortgage • frank nothaft •
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Obama administration plans to reduce mortgage rates

02/14/09 21:30

It seems that the Obama administration wants to focus more on the homeowners to solve the economic crisis that the United States is facing right now.

It is now considering to spend taxpayer money to cut monthly payments for homeowners who are on the verge of foreclosure. Plans are not yet final and details are not yet it, but let us just hope for the best and wait for the plan in the coming weeks.

[404 Check: was link to http:/ / www. google. com/ hostednews/ ap/ article/ ALeqM5gFSu3GqniGVvNSQKACosXSPETSNwD96ACC000, anchor: Link: The Associated Press: Administration weighs plan to lower mortgage rates]

Tags: plan to lower mortgage rates • mortgage rates • economy recovery •
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Fannie, Freddie developing new model to prevent home foreclosure

02/11/09 22:43

The Obama administration is crafting a new approach to preventing home foreclosures of hundreds of thousands of homeowners that will see Fannie Mae and Freddie Mac easing the burden on the homeowners. It is also hoped that the same pattern will be adopted by other financial institutions in their efforts to help homeowners. More of this issue here in Rueters.

Link: Fannie, Freddie to channel mortgage rescue-sources | Markets | US Markets | Reuters

 

Tags: mortgage • fannie mae • freddie mac •
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Things to Knoe Before Refinancing Your Loan

02/09/09 18:57

With interest rates near zero percent already, it is unsurprising that a lot of people are jumping to the mortgage refinancing bandwagon. After all, who will not want to modify their loans and pay smaller monthly amortization fees?

However, there are still things that you have to remember before jumping to the bandwagon. There are things that you still have to consider. This article from SBWire.com will not be helpful for the citizens of Utah (which it primarily serves) but for the entire country as well.

Link: The Truth About Mortgage Refinancing Revealed By Utah Mortgage Expert

Tags: mortgage refinancing • amortization fees •
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Obama nods to mortgage relief plans for homeowners

02/07/09 14:52
Homeowners and taxpayers have been long criticized the American bailout plan to buy loans from troubled banks, primarily because there are hardly any plan to save the owners their homes.

Now, Obama has nodded to a mortgage relief plan that will primarily assist homeowners in fixing their loans. Part of this plan is to reduce the costs of mortgage.

Link: Obama nod to mortgage relief targets root of woes | Reuters

Tags: mortgage relief •
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Lenders Initiative: Mortgage and Foreclosures

02/05/09 21:27
The recession is continually being experience through out various countries especially in the United States of America. Recession is just the start and has a domino effect to the businesses and lifestyle of Americans. Credit cards, loans and mortgages powers almost all the homes and families in the United States which made a crippling effect when a mass lay off occurred. Finally, lenders have initiated help which can be seen here:

[404 Check: was link to http:/ / www. freep. com/ article/ 20090202/ BUSINESS06/ 902020332/ Lenders+step+up+to+help+with+mortgages, anchor: Link: Lenders step up to help with mortgages | Freep.com | Detroit Free Press]

Tags: lenders help with mortgages • lenders initiative •
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Freddie Mac to increase mortgage fees

02/03/09 22:55

Freddie Mac, in its website, announced that it will require higher fees that will raise costs for mortgage borrowers, following a similar fee increase of its main rival, Fannie Mae.

According to Freddie Mac, the fees were raised to cope with the growing risks of mortgage defaults as home prices start to drop. Among the services for which it has higher service fees are mortgage used to finance condominium units.

Link: Freddie Mac Increases Fees on Some Mortgages - WSJ.com

Tags: freddie mac increases fees • mortgage fees •
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One Missed Mortgage Repayment by Homeowners

02/02/09 23:22
Moneyexpert.com's research revealed that more 900,000 homeowners have missed one at least in their mortgage repayment in the past two quarter which have is 95 percent more than last year's. MoneyExpert.com director Sean Gardner says that missing a mortgage payment is serious and clear signal of breaking points of finances.

Experts say that the sudden increase in missed mortgage repayments will make a minimum of 75,000 home repossessions over the next year too short as expected by the Council of Mortgage Lenders

Financial strain will be all over this year, huge unemployment figures rates just like what happened Sept-Nov. last where from 131,000 up to 1.92 million jobless fellow.

Link: One in 12 homeowners miss mortgage repayments

Tags: homeowners miss mortgage repayments • council of mortgage lenders • moneyexpert • unemployment •
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