Click ‘Play’ to hear me summarize proposed FHA loan program changes in 2010. A few years ago FHA loans made up only around 3 percent of the home loan market. Now they make up closer to 50 percent, due to their lower down payment requirements (3.5.%) and less stringent qualification standards, combined with the virtual disappearance… Continue Reading
Category Archives: Home Loans
Free Mortgage Refinance Guide from the Federal Reserve Board
Are you thinking about refinancing your existing home mortgage? If so, there’s a handy guide to home loan refinancing from the Federal Reserve Board that covers some important topics, such as: Comparing home loan refinance options Understanding ‘no cost’ refinances Calculating when you will recoup the expense of refinancing your mortgage Home mortgage prepayment penalties… Continue Reading
Duped Homeowner Asked to Pay Fraudulent Debt
The New York Times posted a pretty hair-raising article today about a homeowner who is being asked by the FDIC to pay $150,000 of debt racked up by the company that allegedly deceived her. For the record, this is not someone who used her house as a credit card. She’s more of a salt-of-the-earth type of… Continue Reading