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HUD Affordable Housing
The foreclosure crisis is causing problems in the
rental housing market. Homeowners losing their
homes are having a difficult time finding affordable
housing.
Watch the above video.
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Interest Rates

30 yr fixed 3.79% and 0.7 points/fees

15 yr fixed 3.0
4% and 0.7 points/fees

5 yr ARM  2.8
3% and 0.6 points/fees

As of May 1
6, 2012

more rates...
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Tips, news and advice on mortgages
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Government Info
Your Bank Has Little To Do With Your Mortgage Rate
Stop blaming your banker for the mortgage rate you are paying. And on the flip side, do not give him
all the credit for the low rates we are currently getting. In London, England there are 19 bankers that
call the shots. These bankers determine the rates throughout the world.
 read more...
Recession Leads Banks To Foreclose On Churches In Record
Numbers
America's churches are victims of the housing bust. Just like their residential counterparts, churches
are having difficulties paying their mortgages.
read more ...
Hardest Hit Fund: Only 3% Doled Out To Struggling
Homeowners In Two Years
The Hardest Hit Fund was established by the Federal government in February of 2010 to help
Americans facing
foreclosure save their homes. Only $217.4 million of the initial $7.6 billion has
been distributed to
homeowners. read more...
Realtors Optimistic: US Home Buying Season Will Lead To
Housing Recovery
A mild winter is just what the doctor ordered for a great home buying season. Realtors across the
nation are looking forward to April, May, June and July. During these months about 40% of
house
sales are completed. read more...
Lenders Finally See The Money In Short Sales
Banks are finally seeing the money in short sales rather than going through the long expensive
process of foreclosure. The number of US short sales were 23.9% of
home purchases in January,
compared to 19.7% of
foreclosures according to Lender Processing Services (LPS). A year earlier
16.3% of real estate sales were short sales and 24.9% were foreclosures.
read more...
Buying A New House: Be Sure To Get The Mineral Rights
New home builders are finding new ways to help their bottom lines in this troubled US housing
market. One such
house builder, D.R. Horton retains the rights to drill for natural gas under the
homes it sells in North Carolina. In addition the company keeps the rights to water, oil, coal and
other minerals.
read more...
Builder Retains Mineral Rights On Your New House: Why Your
Lender Might Not Refinance Mortgage
Signing away the mineral rights to your house might conflict with some of the requirements of your
mortgage. To make sure that you are in compliance, you should ask your bank or mortgage lender
if there are any clauses in the mortgage contract that would impact the mineral rights lease.
read
more...
Credit Problems? How To Buy A Home With Friends
The current economic conditions fueled by questionable mortgage loans is causing lenders to
tighten their underwriting standards.
Credit is simply tough. These circumstances have led many
unattached singles to pool their resources and
purchase homes together. These "mingles" are
divorced, separated, widowed, or never married.
read more ...
Foreclosure Crisis Fills A Gap In Refugee Housing
Thousand of refugees to the US face the problem of finding decent housing. There is an acute
shortage of housing because landlords are hesitant to rent to someone who has just arrived in the
country. Who would rent to a refugee? In addition, refugees do not have the funds for a
downpayment to
buy a house. read more...
Banks Are Sitting On Thousands Of Houses With Mold And
Mildew: Would You Buy One?
Everyone wants a bargain when it comes to purchasing a house. We are bombarded with the
news that
interest rates are low, that house prices are falling and that now is the time to buy real
estate. We also hear that there are millions of
foreclosure houses that are just waiting for a willing
buyer. But what about
houses that the banks own that are filled with mold and mildew, can these
ever be a good deal for a buyer?
read more...
Let's Offer Foreclosure Homes To Veterans: Help Them Rent
Or Buy
There are over 10 million houses in foreclosure across the US. One of the plans put forward by the
Federal Government to get rid of these houses was a rental program. This program would see the
foreclosure
homes sold to investors. read more...
President Obama Was Right: Principal Reduction Works: Time
To Fire Edward DeMarco
It is one thing to have an ideological difference, but to deliberately mislead the President and
Congress is grounds for immediate termination. Edward DeMarco in his heart did not want to see
Americans rescued from
foreclosure by way of principal reduction. read more...
Mortgage Lenders Require Force Placed Insurance: Pushing
Homeowners Over The Edge Into Foreclosure
Force placed insurance is causing thousands of homeowners to lose their homes to foreclosure.
When your insurance policy lapses, your mortgage lender has the option of buying insurance on
your behalf. Of course you pay for it, but it is about ten times the normal insurance.
read more...
Landmark Lawsuit In Florida Could Undo Millions Of
Foreclosures Across The US
In the past five years courts in Florida have been dealing with thousands of foreclosure cases. At
issue is whether banks can
foreclose when the documents used to foreclose were fraudulent. Due
to
robo-signing some judges came down in favor of the banks, while other judges threw out the
cases. In extreme cases banks were allowed to refile at a later date with the correct paperwork.

read more...