Tag: mortgage

87% of buyers qualify for some downpayment help

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IRVINE, Calif. – Feb. 4, 2015 – According to a RealtyTrac report released today, 87 percent of U.S. buyers qualify for some type of downpayment assistance – if they know where to look. In Florida, the percent of qualifying buyers…

30-year mortgage rate drops below 4%

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WASHINGTON – Nov. 21, 2014 – Freddie Mac’s weekly mortgage rate survey found that average rates for a 30-year fixed rate mortgage again dropped below 4 percent, ending the week at a lower 3.99 percent. “If you’re planning to buy…

Report: Shaky FHA finances move onto solid ground

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WASHINGTON – Nov. 18, 2014 – The U.S. Department of Housing and Urban Development (HUD) released its annual report to Congress on the financial condition of the Federal Housing Administration (FHA) Mutual Mortgage Insurance (MMI) Fund, and it found generally…

Fannie Mae changes mortgage loan restrictions

The Admiralty - Building 2

WASHINGTON – Oct. 17, 2013 – Government-backed mortgages with Fannie Mae will soon undergo new changes through Desktop Underwriter (DU), an automatic program that follows strict guidelines without input from lenders. The new changes will increase flexibility for certain borrowers,…

FHA, VA loans ‘safe’ during government shutdown

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WASHINGTON – Monday, Sept. 30, 2013 – Contrary to widespread media reports, new Federal Housing Administration (FHA) single-family home loans will be processed if the expected government shutdown occurs at midnight. Florida Realtors® confirmed details contained in a Housing and…

Fla.: Temporary injunction in mortgage relief scam

upside down home

TALLAHASSEE, Fla. – Aug. 27, 2013 – Attorney General Pam Bondi’s office has obtained a temporary injunction and asset freeze against two companies that allegedly preyed on Florida homeowners, defrauding them out of thousands of dollars in a mortgage relief…

1 in 3 buyers would consider a Walmart mortgage

CHARLOTTE, N.C. – Dec. 3, 2012 – A U.S. consumer mortgage study by Carlisle & Gallagher Consulting Group focused on consumer attitudes about homeownership. The company hoped to find out what factors are considered most important in the mortgage application…

More luxury homebuyers opt for ARMs

NEW YORK – Oct. 23, 2012 – Once blamed as one of the culprits behind the flood of foreclosures in recent years, adjustable-rate mortgages are back and rising in popularity, particularly among luxury homebuyers, The Wall Street Journal reports. ARMs…

The Fed baits the mortgage hook

WASHINGTON – Oct. 15, 2012 – With the Federal Reserve buying billions of dollars worth of mortgage-backed securities, you might think that mortgage rates are poised to fall even lower than the current rock-bottom levels. Maybe you should wait on…

Buy a fixer-upper with FHA 203(k) financing

WASHINGTON – June 5, 2012 – Sometimes the ideal house needs a little bit of work, and private lenders don’t like doling out more money than a home is worth. Unknown to many buyers, however, is an FHA program that…

NAR asking homeowners for help

WASHINGTON – July 11, 2011 – Starting today, the National Association of Realtors® is contacting 6 million consumers nationwide by email. Those consumers will be asked to participate in a Consumer Call for Action regarding the Qualified Residential Mortgage (QRM)…