Q&A: Federal Interest rate vs. Home Mortgage Rates?
by Center for American Progress Question by Kyle: Federal Interest rate vs. Home Mortgage Rates? So when the rate is cut how long does it take to reflect the cut for home mortgage rates? I’m thinking about buying a house and I just heard the federal interest rate is being cut to 1% (historic low). When will home mortgage rates reflect this cut? How low on average in % will they go (if its possible to know)? Best answer: Answer by TomasWhen they say the feds cut the rate they are not talking about home loan rates. They mean short term loans like cars loans, prescription ed credit cards and such. The mortgage loans are based off of the 30 year treasury bond.. which is why you don’t necessarily see those rates come down when the fed ‘cuts’ the rate. hope this helps. What do you think? Answer...
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Question by Brian: anyone know a lender that does a SIVA program with a 660 fico? Best answer: Answer by Carolinahomerates.comtry gateway…you need 2yrs in same line of employment Give your answer to this question below! Question by Ms Penny Lane is In My Tree: How long do you have to wait before you can sell a home that you purchased with a FHA loan? My husband and I recently purchased a home with an FHA loan. Although we enjoy the home, recipe it is not exactly what we were expecting, here we probably rushed into the decison a little faster than we should have. We are wanting to sell the home and go with our original plan. Is their a waiting period between buying and selling a home that you bought with a fha loan? Best answer: Answer by Biggie @ Arbor MortgageThere is no waiting period. There is no prepayment penalty if that is what you were thinking. I don’t know how long you have been in the home, check but it may be a little early trying to sell if you just purchased it no too long ago. Good luck trying to sell! Give your answer to this question below! Check out these big house photos: The Massive House Image by pdbreen Cohasset, more about MA July 2009 Copyright 2009 Patrick Breen Canon EOS 5D Mark II/EF16-35mm f/2.8L II USM @ 16 mm 1/60 sec at f/11, ISO one hundred, EV, Aperture priority, no flash Far more fantastic homes click right here… Some cool apartment creating photos: Max Mehl Building, pill Magnolia and Henderson, Ft. Worth Image by StevenM_61 This South Side apartment developing with a storefront was recently restored. For far more homes click right here… Apartment Developing Image by rjackb An apartment developing behind my apartment. For more homes click here… Apartment Building Image by rjackb An apartment developing behind my apartment. A lot more great houses click here… Why FHA streamline refinancing is over The mortgage insurance premiums paid in accordance with FHA Mortgage Financing have nearly doubled in the last year and a half, visit web eroding the savings otherwise incurred by the reduction in the rate. Put another way, there the Federal Housing Administration's … For more informaiton please visit here… Mortgage Rates: Low Mortgage Rates Holding On as Housing Stats Lead the Way Borrowers may be concerned because FHA closing costs (APR) are high due to various FHA fees and the upfront mortgage insurance premium, but FHA allows these costs to be added to the loan amount, in most cases, or paid through seller concessions. If you would like more informaiton please visit here… Mortgage Rates: Low Mortgage Rates Remain Stable As Builder Confidence … While FHA closing costs (APR) are higher than conforming mortgages because of the upfront mortgage insurance premium and other FHA fees, FHA allows these expenses to be added to the loan amount or to be paid through seller concessions. In order to … For more informaiton please visit here… Question by romanccmg: New Government Refinance Assistance Programs Announced? http://www.governmentrefinanceassistance.com/ I recently applied for the government assistance program. I meet all the qualifications listed in this bill. However, check Chase is now telling me i make to much money to qualify for the assistance. However, check if you read the bill it does not indicate the amount of money generated in a household. Is this a stipulation that chase is throwing in and using this as a loop hole? What recourse does one have if they don’t follow the qualifications for the program? Best answer: Give...
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Money Over 55 Links – Spiderbites Of About.comHttp://moneyover55.about.com/b/2009/02/26/please-read-to-the-end.htm http://moneyover55.about.com/b/2009/05/17/the-making-home–affordable-plan com/b/2009/12/10/ignorance-is-not-bliss-troubled-asset-relief-program-year-end http://moneyover55.about.com/b/2009/03/16/should-you-refinance.htm … Read Article Home Affordable Modification Program Guidelines March 4, capsule cure 2009Home Affordable Modification Program Guidelines March 4, 2009 Trial loan modifications and work to complete the Hope for Homeowners refinance requirement to use principal reduction under the Home Affordable Modification program; however, servicers may forgive principal to achieve the Front-End … Get Doc Make Your Mortgage Moreafforable With the Home Affordable …Your mortgage due to declining property values, you may qualify to have your rate and monthly mortgage payments reduced through the Home Affordable Refinance program. Plus- you'll receive an additional entry with every qualifying purchase you make with either card now through year-end. … Access Doc Making Home Affordable ProgramSee Page 2) 1 Making Home Affordable Program Servicer borrowers with GSE mortgages to refinance Borrowers who have a back-end debt-to-income ratio of greater than 55% are required to seek housing counseling under program guidelines. 3 Principal and interest payment. 6 1 Making Home Affordable Program … Return Document Making Home Affordable Borrower Presentation – English Version3 Spring 2010 l Making Home Affordable Home Affordable Refinance Program (HARP) •Purpose-Gives borrowers the opportunity to refinance into more 13 Spring 2010 l Making Home Affordable Know Your Debt-to-Income Ratio •Back-End DTI Ratio-Used to determine how much of your income is needed to pay off all … Document Viewer Housing Counseling Protocol Making Home Affordable ProgramCounseling Protocol Making Home Affordable Program The including the client's back end debt to income ratio and the client's willingness to continue/complete counseling if applicable For clients who come to counselors seeking information on the Making Home Affordable modification or refinance … Retrieve Content AS FOR THE HOMEOWNER AFFORDABILITY AND STABILITY PLANAre all loan types eligible for the Home Affordable Refinance and Home Affordable the borrower achieve an affordable payment of 31% front-end DTI. 22. What if the borrower has a second mortgage and would like to apply for a Home Affordable Modification? Under the Home Affordable Modification program … Content Retrieval Announcement 09-04; Home Affordable Refinance – New …Announcement 09-04 Page 1 Announcement 09-04 March 4, 2009 Amends these Guides: Selling Home Affordable Refinance – New Refinance Options for Existing Fannie Mae Loans Introduction The Making Home Affordable program announced by the Department of the Treasury on March 4, 2009 … Access Content Home Affordable Modification Program – Wikipedia, The Free …The Home Affordable Modification Program, also known as HAMP, is a federal program debt, worse credit scores, and less home equity. Congress should pass legislation that eliminates the HAMP program, to put an end to these Home Affordable Refinance Program (HARP) References … Read Article “Level One” CounselingOrganization must determine and document if client is eligible for a Making Home Affordable Program refinance or Borrower has received a temporary loan modification through the “Making Home Affordable” program and been referred to counseling by a servicer because his or her back end debt-to … Retrieve Full Source Homeowners Affordability And Stability Plan – Wikipedia, The …Home Affordable Modification Program (HAMP) Home Affordable Refinance Program (HARP) External links. Making Home Affordable; References ^ … Read Article Last Updated: December 1, 2011Refinance (Home Affordable Refinance Program (HARP): NFMC Program Grantee must screen for With the modification, will the client’s front end DTI be as close as possible, but not less … Document Viewer Emergency Homeowner Loan Program – Summary OverviewStoring the note and handling the payoffs at the end of the program. In the event that proceeds of a sale or loan refinance refinancing programs offered by their servicer and/or the federal government (i.e. Home...
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Question by Joshua K: Is a FHA 30 yr fixed mortgages interest rate changeable? I was told by someone that depending on the loan the interest rate can go down but not up on some FHA 30 fixed rate mortgages. Is this true? I know its fixed and I know what that means but it is a FHA loan. For example I also heard that they can be assumable which standard loans are not. Are they also not assumable? Have I been missinformed here also? Best answer: Answer by alterfemegoNot on a fixed rate. If a lower rate is available, approved side effects you need to refinance. Add your own answer in the comments! Reduced Requirements and Fees for the FHA Streamline Refinance One of the best benefits of having an FHA loan is the ability to refinance through the FHA streamline refinance program. This mortgage is truly an easy and quick way to trade in a current FHA mortgage for lower mortgage rates. By doing so, pill it is most … If you would like more informaiton please visit here… Why HARP Isn't Working If you go to the MakingHomeAffordable.gov home page and click on the ABOUT MHA header, it says; “The Making Home Affordable Program (MHA) ® is a critical part of the Obama Administration's broad strategy to help homeowners avoid foreclosure, stabilize … More informaiton please visit here… HARP Loans On Track to Meet Goals According to the August Refinance Report, nearly 99,000 existing homeowners refinanced their mortgage during the month of August through the HARP program. More than 618,000 loans have been refinanced since the beginning of 2012 bring HARP closer … More informaiton please visit...
Read MoreIf I quit my job, would I qualify for Obama’s Making Home Affordable mortgage refinancing program?
by eyewashdesign: A. Golden Question by International: Stated income loans to people with good credit are essential for a recovery – can you push banks to start? For the economy to recover banks must start lending to people with good credit who are willing to sacrifice a larger portion of their income for their mortgage. The old income to loan ratios dont work and people with great credit history will not default. What is essential is a higher down payment not tax returns! Stated income and low-doc loans have to come back and when they do the economy will bounce back instantly. Best answer: Answer by Ryan MStated income loans helped create the housing bubble to begin with. Those people who are willing to sacrifice a higher percentage of their income are a HUGE risk to the lender. Know better? Leave your own answer in the comments! by watchingfrogsboil Question by RAJAN s: Making home affordable loan program? My loan is owned by Freddie Mac. Like most people my house value is less that what I owe. But the above program lets me refiance. I called my bank and checked. But they told me that since my loan is owned by Freddie Mac I can only refiance with them and cannot shop for loan from other banks. Is this true? I heard that this condition does not apply to Fannie Mae owned loans. Wierd. Thanks, cheapest I did mention that I meet the criteria per makinghomeaffordable.gov. But my current back say that I can only refinance through them as my loan is owned by freddie mac. If it was fannie mae owned loan then I could seek other banks for loan. Is this true is my question. Best answer: Answer by Pandas4mego to makinghomesaffordable.gov and see if you are eligible for the program, pilule there are some guidelines you must meet. Give your answer to this question below! Question by gypsyecsa: What income are they looking for for the “making home affordable” program.? I want to refinance, sildenafil not modify. Do they want to see that I make alot of money or a little? I know to refinance you must show you make a decent amount of money. They are asking for my bill totals and income, look does anyone know the ratio or what they are looking for? Best answer: Answer by Gaytheist BuddhaRule of thumb is that you can afford a house that is 3 to 3-1/2 times your gross annual income. Rule of thumb #2: Your mortgage payment (principle, viagra interest, property taxes, and insurance) should not exceed 28 to 33% of your gross monthly income. If you have no other debts (no car loans and you don’t carry a revolving balance on your credit cards) you may have slightly higher limits. Your total debt load (mortgage plus auto and other minimum debt payments) may not exceed 38 to 43% of your gross monthly income. Good luck! What do you think? Answer below! Question by schecm: companies that do no/low-doc mortgage loans? trying to find companies that will do unconventional mortgages for individuals or corps. LTV can be as good as 60% on a loan no larger than 400K total. Best answer: Answer by bron357Given the credit problems everywhere, price no one does “no doc” or “low doc” loans anymore. They want great credit score, cheap proof of employment /income for 2 years and evidence of other assets plus you fronting up with a hefty size deposit. You can shop around, but success is doubtful unless you can meet the now, very strict and inflexible, lending...
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Verify out these apartment building photos: 0803 Crowe Apartment Constructing | 1994 | North Image by Facility Records | MSU Physical Plant 0803 Crowe Apartment Building | 1994 | North If you would like to see more properties click right here… THE CHRISTMAS TALE OF A LIBERAL AND OTHERS OF THEIR ILK Image by SS&SS By Jeffrey Lord on 12.21.10 @ 6:08AM Requiem: Hymn or dirge for repose of the dead. — Webster’s Collegiate Dictionary Christmas, order 1985. Tom Wicker was upset. The longtime New York Times political reporter turned columnist, an icon of liberal journalism in the day, was furious with President Ronald Reagan and his conservative administration. So he sat himself down during the Christmas season and penned a column titled "Requiem at Christmas." That would be requiem, as in a hymn for the dead. The subject of Wicker’s fury is worth a look this Christmas, twenty-five years later. His tirade was delivered as Reagan and the conservative movement were riding a wave of public popularity just a year after Reagan’s 49-state re-election over former Vice President Walter Mondale. Why is this important enough to take another look? Because this tale of a supposed political Scrooge and the Christmas Past of 1985 provides a glimpse of Christmas Future for conservatives in 2011. Wicker, you see, was waxing eloquent about a pond at his rural retreat in historic Rappahannock County, Virginia. There, some twenty years earlier during the height of Lyndon Johnson’s Great Society, the columnist built his pond on his own property. Perhaps understandably for a man who had spent his life as a liberal wordsmith, Wicker saw this moment of pond-building as "perhaps the single most constructive act of my life." He also paid for the construction of the pond himself. Good man. A liberal who believes in private sector job creation. But wait! Paid for it all himself? Then why in the world was Tom Wicker so furious at Ronald Reagan and conservatives? What was this business of a "Requiem at Christmas"? Well, there was actually more than a pond involved, you see. First, the government of the Commonwealth of Virginia arrived to stock Wicker’s pond "with large mouth bass, bluegills and channel catfish," the latter, Mr. Wicker assures us, "to establish a natural cycle" in his new private pond. But there was something else. There was also a dam. And instead of hiring a private sector contractor to design his dam, Mr. Wicker went somewhere else. Guesses, anyone? That’s right. Instead of pumping his New York Times earnings into this task, Mr. Wicker turned to — you. You as in the taxpayers funding the federal government of the United States circa 1965. Specifically, in Wicker’s words, he turned to "Eddie Woods, the district agent for the Federal Soil Conservation Service, (who) designed the dam so well that the water eventually rose precisely to the little red flags he had set out to predict the shoreline of what he called a ‘water impoundment.’" Said Wicker as his fury rose to what might be called the liberal anger impoundment shoreline of the Times print pond: "That’s only an infinitesimal incident in the annals of one of the Federal services dedicated to the American earth and to those who work and cherish it." Indeed, indeed. "Infinitesimal" is precisely the word for whatever federal tax dollars were spent on his pond. Then, without missing a beat or evidencing a solitary thread of irony, Wicker moves his readers from the pond-designing Federal Soil Conservation Service to another agency in the U.S. Department of Agriculture: the Agricultural Extension Service. There,...
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