I can’t tell you how many times we have worked with buyers who want to purchase a condo in a condo building that is not FHA approved, and thus they cannot obtain financing for a mortgage. They are so disappointed because it was the perfect condo for them. Seems ridiculous doesn’t it? A willing and […]
3 Major Loan Servicers Denied Government Financial Incentives
Big news today for Tampa homeowners who are under water on their home. The Treasury Department is withholding financial incentives from 3 of 10 of the major mortgage servicers participating in President Obama’s Making Homes Affordable program loan modification program and the HAFA short sale program. For the first time, the administration’s monthly “housing scorecard” […]
Do you Qualify for a Loan Modification? Free Online Calculator
The Treasury Department is offering a free online calculator that helps borrowers estimate whether or not they qualify for the Home Affordable Modification Program ( HAMP). The calculator is available at checkmynpv.com. In the two years since its launch, HAMP has helped more than 270,000 borrowers receive permanent loan modification, thus lowering their monthly mortgage […]
Obama Calls for Principal Reductions, Longer Term Modifications
The following article was released May 12th and we wanted to post it in its entirety. President Obama said that struggling homeowners need even more help from the banks, in a CBS town hall that aired Thursday. Calling housing “the biggest headwind on the economy right now,” Obama broached two relatively new ideas for the […]
Rate on 30 Year Mortgages Falls to 4.8%
Great news via the Wall Street Journal! Mortgage rates this week fell for the first time in more than a month, with the average rate on a 30 year fixed mortgage falling to 4.8%. Rates have been going up mostly as of late with increases the previous four weeks, after declining much of last year. […]
FL Law Firm Settles in Robo Signing Case
A Fort Lauderdale based law firm is the first in the U.S. to agree to pay a settlement in the latest robo signing scheme for mishandling foreclosures. The law offices of Fort Lauderdale based Marshall C. Watson, which handled one of the largest volumes of foreclosures for Freddie Mac until the government withdrew its business […]
