New “covered bond” concept to help U.S. mortgage marketTreasury Secretary Henry Paulson unveiled guidelines for “covered bond” which are issued by the banks. These bonds are issued to finance home mortgages. Four big U.S. lenders - Citi (C, Fortune 500), Bank of America (BAC, Fortune 500), JPMorgan Chase (JPM, Fortune 500) and Wells Fargo (WFC, […]

 Lock in your mortgage rate to save loads
If you find a reasonable mortgage rate just lock in because the mortgage rates are increasing very fast. If you can lock in at a lower rate, then you will be safe from the increasing rates and may ultimately save thousands of dollar.
The scenario during the housing boom […]

New York has in its tally one of the highest numbers of foreclosures and also highest numbers of sub prime mortgage fraud.A recent investigation revealed that scammer defrauded homeowners and lenders in the state taking advantage of the loopholes in the lending laws of the state. The fraud has happened everywhere in the state.
According to […]

President Bush has signed the bill which will try to help borrowers, provide support to Fannie and Freddie and strengthen housing market.This new bill has become a law after high signing it. It will try to help the housing market to make things better for the borrowers. Mortgage finance giants Fannie Mae and Freddie Mac […]

Continuing from the last post about the benefit and eligibility to get a FHA-backed housing loan…………You will need approval from the FHA to become eligible for the mortgage under the new housing rescue bill. The total money that you can get under this scheme cannot be more than 95% of the appraised value of your […]