Making Home Affordable Website Launched
Curious if you’re eligible for assistance via the new Making Home Affordable program? Wonder no more.
The government launched a new website, conveniently named MakingHomeAffordable.gov, which allows borrowers to determine if they can take advantage of the refinance and loan modification programs currently on offer.
To find out if you’re eligible, you just need to answer a few basic questions such Read more
Low Mortgage Indexes Making ARMs More Affordable
Now I’m not sure how many borrowers actually held onto their adjustable-rate mortgages (by choice or necessity), but if they had, they’d probably be enjoying an unexpected surprise.
Many of the popular mortgage indexes are at multi-year lows, spelling serious discounts for those with associated ARMs.
The MTA for example, popular on the now infamous option arm, fell for the 21st consecutive month to Read more
Existing Home Sales Decline Despite Homes Becoming More Affordable
The National Association of Realtors announced today that existing home sales in October were down 3.1 percent as compared to September 2008. However, while home sales were down, the inventory of unsold homes slipped 0.9 percent to 4.23 million units, representing a 10.2 month supply.
Quicken Loans Chief Economist Bob Walters says he’s not surprised by the findings as consumers are still facing tough credit guidelines and uncertainty Read more