Wednesday, May 26, 2010
Tuesday, May 18, 2010
Mortgage rates dip to lowest level of the year
The average rate on a 30-year fixed rate mortgage dipped to 4.93 percent this week from 5 percent a week earlier, Freddie Mac said Thursday. It was the lowest level since mid-December, when rates averaged 4.81 percent. Read the full article here.
Thursday, May 13, 2010
Monday, May 3, 2010
How to file bankruptcy and still get a loan
How to file bankruptcy and still get a loan: "If you're on the brink of bankruptcy, or are one of those 1.4 million people who declared bankruptcy last year, you might be interested to know the follow"
Thursday, April 29, 2010
30-year mortgage rates hold steady
Rates on 30-year mortgages didn't budge from last week, mortgage company Freddie Mac said Thursday. Read the full article here.
Wednesday, April 28, 2010
Fannie Adds Incentive to Avoid Foreclosure
Beginning in July, Fannie Mae will allow financially troubled home owners to complete a "deed in lieu of foreclosure" or a short sale and be eligible to apply for a new Fannie-backed mortgage in two years.
Currently, borrowers who have completed a deed-in-lieu must wait four years to apply for a loan that Fannie will purchase. Home buyers who go through foreclosure must wait five years.
All these waiting periods can be reduced further, if the potential buyer can show extenuating circumstances. "We are beginning to think about post-recession, how you address borrowers who became unemployed through no fault of their own ... and now deserve the right to re-enter the housing-finance system," said Federal Housing Association Commissioner David Stevens.
Source: The Wall Street Journal, Nick Timiraos (04/26/2010)
Currently, borrowers who have completed a deed-in-lieu must wait four years to apply for a loan that Fannie will purchase. Home buyers who go through foreclosure must wait five years.
All these waiting periods can be reduced further, if the potential buyer can show extenuating circumstances. "We are beginning to think about post-recession, how you address borrowers who became unemployed through no fault of their own ... and now deserve the right to re-enter the housing-finance system," said Federal Housing Association Commissioner David Stevens.
Source: The Wall Street Journal, Nick Timiraos (04/26/2010)
Wednesday, April 21, 2010
Hint - Paint Cans
How many times have you looked on the label of a used, yet still relatively new, paint can only to find all the important instructions covered with paint drips? It happens because we wipe our brushes clean on the lip of the can-once that lip fills up with paint, it runs over the side and covers the instructions.
OK. So here's what you do: Put a strong rubber binder over the vertical middle of the can and wipe your paint off on it.
OK. So here's what you do: Put a strong rubber binder over the vertical middle of the can and wipe your paint off on it.
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