By The Time You Read About Low Mortgage Rates, It Was Already Too Late To Get Them
Image via Wikipedia Thursday morning April 2, homeowners in different parts of the country awoke to find similar-sounding newspaper headlines: Rates on 30-year mortgages sink to 4.78%, a new low (LA Times) Mortgage rates at record low for 2nd week (Miami Herald) Mortgages hit another record low (San...FHA Is Reducing The Maximum Loan-To-Value On Cash-Out Refinances
If you’re in need of a cash out refinance, the most liberal cash-out program in town is about to make qualification more difficult. Effective April 1, 2009, the FHA is reducing the maximum loan-to-value on cash-out refinances by 10 percent, dropping the loan size limit from 95% of the home’s...What Is A FICO Score
Posted by yourmortgageplanner on Mar 11, 2009 in Credit Crisis TARP, Financial Awareness | 0 comments
The basis of most mortgage lending is credit scoring. In general, the higher a person’s credit score, the lower his offered mortgage interest rate.
Despite the many credit scoring models in use today, however, just 3 are relevant to American homeowners:
The Equifax BEACON® score
The Experian Fair...
Am I Eligible For Making Home Affordable Government Plan
Posted by yourmortgageplanner on Mar 5, 2009 in Credit Crisis TARP, Economy, Featured Articles, Financial Awareness, One Step Ahead, Random/Old BlOgS | 7 comments
When the White House first introduced the Making Home Affordable program in February, it was positioned as a mortgage program with two goals:
To help financially-needy homeowners get mortgage relief
To help homeowners who’ve lose equity qualify for today’s low rates
Wednesday, in a...
Mortgage Rates March 2, 2009
