Lennar Offering 3.625 Percent Fixed Mortgage Rate
The battle to offer the lowest mortgage rate is in full swing, with homebuilders decidedly leading the way.
Struggling homebuilder Lennar, which is looking to dump its excess inventory, is offering a 3.625 percent (4.22% APR) “fixed “for life” mortgage on select homes, likely those in the hardest-hit areas of the country.
The offer is only good for purchase agreements written by April 23, and Read more
Wells Fargo Offering Principal Reductions to Wachovia Borrowers
As part of a broader plan to prevent foreclosures and reduce related losses, Wells Fargo has reportedly offered principal balance reductions to select Wachovia borrowers.
According to Bloomberg, letters were mailed to an unknown number of Wachovia borrowers who could be eligible for such a loan modification.
They are requesting proof of current income and a 2007 income-tax statement as a means to qualify Read more