Tag: Refinance
FHA Offers Lower Mortgage Insurance Premiums To New Borrowers In 2015
New FHA mortgage borrowers in 2015 will be offer a reduced Mortgage Insurance Premium (MIP). This is the first time that the Federal Housing Administration (FHA) has reduced its MIP for its borrowers since 2001. It has been a long time coming for many interested home buyers and millennials who have been hesitant on committing […]
Reasons to Refinance in 2014
Is Refinancing Now a Smart Homeowner Move? The Market Says Yes. Buyers and sellers alike are constantly scouring mortgage news sites for information on mortgage rates and their trends. Government loans, such as Freddie Mac, are scrutinized each day. Where mortgage rates used to hover in the 6 percent range, a current evaluation places those […]
Freddie Mac: U.S. Housing and Economic Outlook 2015
2014 is coming to a close, what does this mean for rates? Where will they go? According to Freddie Mac, we may see a rate increase in 2015. It is definitely not the time of year to procrastinate on taking advantage of today’s low rates, whether it be refinance or a new mortgage purchase. As […]
Life Gets Even Better After Age 62
As you reach your senior years, many government programs suddenly become available, such as Medicare or Social Security, but there are other resources too. What is a Reverse Mortgage? A reverse mortgage is a cash payout to the homeowner based on the property’s equity. If you have $50,000 in equity, you may be able to […]
Beneficial Program Changes for Seniors
There has been some program changes in a reverse mortgage that have made it even more beneficial for its borrowers. Senior Help Line provides senior homeowners with the solution to their financial obligations. Three Basic Changes to Reverse Mortgage: 1) First Year’s Limit – The Department of Housing and Urban Development (HUD) has reestablished a […]
Annual Foreclosure Rate Increase After Nearly Four Years
An increase was seen in the annual foreclosure trend in Realtytrac’s most recent foreclosure rate report for the month of August, just a month ago. A 7 percent rate increase, after nearly four years ago since the last spike in annual foreclosure rate. Mortgage Home Base expands on this national foreclosure increase. Realtytrac’s foreclosure report […]
Rising MIP Affecting FHA Mortgage Loans
The FHA at one point in time was more appealing to a wider range of homeowners with their easier credit standards, lower down payment requirements (as little as 3.5%) and their acceptance of an LTV (Loan-to-Value) of 96.5% in all mortgage type properties. FHA Mortgage Insurance Premiums are getting way too high for current FHA […]
Survive Your Underwater Mortgage
You’ve been told by your lender that a 6.75 percent home loan is the best value you’ll see in the industry, but that was several years ago. If you still have that loan, but are struggling to find the monthly funds to pay it, there is relief in the form of The Home Affordable Refinance […]
