Homeowners that have an underwater mortgage, meaning they owe more on their home than the home is worth, are finding paying their mortgage to be difficult in many ways. It is for this reason that the FDIC is looking into a plan that would reduce the principal on a homeowner’s mortgage if their home...
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FDIC To Help Homeowners With Underwater Mortgages With Principal Reduction Plan
Low Mortgage Rates Make Buying And Refinancing A Home More Affordable—Will Low Rates Last?
Low mortgage rates have been making more homeowners look at their buying and refinancing options on a home. There have been questions as to if these low rates are going to be around much longer, with talk from both sides of the argument giving valid opinions. Many feel that due to the still-unstable economy,...
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Obama Wants Help For Unemployed Homeowners And Underwater Mortgages
President Obama is looking for new ways to help unemployed homeowners and those who have underwater mortgages in the five states with some of the highest foreclosure rates in the nation. The states of Nevada, California, Arizona, Michigan, and Florida were hit hard by the housing crisis and recession, but according to an article...
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Underwater Mortgage Refinancing Options—Is A Home Loan Modification The Best Solution?
Many homeowners are finding themselves with an underwater mortgage and are having trouble meeting their mortgage payments on a home with a value less than what the homeowner owes. This obviously causes frustration for homeowners seeing as how no one wants to owe more on a home than it’s worth. However, despite homeowners who...
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North Carolina Home Loan Modification Numbers Report 2,510 Permanent Mortgage Modifications
In a report released by the Making Home Affordable Program, there are 2,510 permanent home loan mortgage modifications in North Carolina as of January 2010. North Carolina falls into the category of states that have between a 5.01% and 10% mortgage delinquency rate, which is below many states’ average. It was also reported that...
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Is Refinancing Your Home Loan To A 30-Year Fixed Mortgage Better Than An Adjustable Mortgage?
Many homeowners coming under hard financial times are finding their personal finances strained with their mortgage payment and mortgage rate. Also, many homeowners who had taken an adjustable-rate mortgage, or ARM, have found that with the recession and loss of jobs and wages that the adjustable-rate mortgage, which they thought they could afford is...
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Citigroup Helps Homeowners By Keeping Them In Their Home For Six Months If They Turn Over Deed
Homeowners are walking away from mortgages and preferring to default if they have an underwater mortgage, meaning they owe more then their home is worth, and as a result they are allowing their credit to take a big hit by just not paying their mortgage and waiting to be evicted. However, Citigroup has begun...
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Secured Credit Cards With Low Interest Can Help Raise Your Credit Score, Build Credit
Many secured credit cards offer a lower interest than unsecured credit cards, or at least rates that are comparable. However, if you have seen your credit score take a tumble due to financial strains or missed payments over the last few months, you may be unable to get a credit card unless you take...
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Will Wage Cuts Cause Wells Fargo Homeowners To Refinance Their Home Mortgage Loan?
Wells Fargo is one of the big mortgage lenders seeing more refinancing from homeowners who are seeking to take advantage of low interest rates that are being offered at the present time. Many homeowners looking to refinance are said to be people who have either seen a cut in their wages at their place...
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Should You Refinance—JP Morgan Chase Offering Mortgage Rates For Around 5%
Interest rates are quite low right now and JP Morgan Chase is offering rates for around 5%, so many homeowners are considering refinancing for a 30-year fixed rate mortgage. Homeowners motivation for refinancing range from simple want of a lower rate to the need of a lower mortgage payment, so if you qualify you...
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