A recent report by the Federal Reserve claims that the equity position of homeowners in the United States increased by over one trillion dollars in the last 15 months. This is a simply staggering number, and one that many people are rightly questioning. According to the Federal Reserve’s latest “flow of funds” statistical report, homeowner [...]
Archive of posts tagged Washington Post
Federal Reserve Report Shows Americans Gained Over One Trillion in Home Equity in the Last 15 Months
Fannie Mae Homepath Mortgage May Be a Good Option for Some Dallas Area Home Buyers
The Fannie Mae Homepath mortgage is increasingly becoming a popular method of financing for some Dallas area home buyers. The program allows credit scores of as low as 660 in some cases, along with the option to roll in additional money for repairs. It also allows seller contributions of up to 6%, no mortgage insurance [...]
Deed In Lieu of Foreclosure as an Alternative to Short Sale or Foreclosure
Here’s an article from Kenneth Harney about how some homeowners are using the deed in lieu of foreclosure as an alternative to short selling their home or outright foreclosure. Although this may be a great alternative for many homeowners, some lenders will not allow a deed in lieu of foreclosure in the state of Texas [...]
Will a Loan Modification Destroy Your Credit Score?
Many homeowners that are either underwater or unable to pay their mortgage worry excessively about their credit score. In fact, many people worry more about their credit score than their financial well being in general. However, as Ken Harney explains in this article, loan modifications may actually INCREASE the credit scores of some homeowners. Read [...]
Only a Few Buyers Are Claiming the $6,500 Tax Credit For Repeat Home Owners
The home buyer tax credits will soon come to an end, but as it turns out, the response to the $6,500 tax credit for move up home buyers has received much fewer responses than originally expected. Aside from the simple fact that most home owners realize the cost to sell a home and purchase a [...]
New Programs May Be On The Way To Reduce Principal Balance of Homeowners in Trouble
While the problem of home owners being “underwater” on their mortgages continues to be a pressing problem for the country, the Obama Administration announced they may be consider adding in some provisions to current legislation which may give banks and incentive to write down the principal balances of some homeowners that are upside down. Bank [...]
