Obama’s New Mortgage Refinance Plan: Questions and Answers

SOURCE WASHINGTON — Two big questions loom over the Obama administration’s latest bid to help troubled homeowners: Will it work? And who would benefit? By easing eligibility rules, the administration hopes 1 million more homeowners will qualify for its refinancing program and lower their mortgage payments — twice the number who have already. The program […]

Caution – How Lenders are Finding Fraud with Buyer’s

SOURCE IN recent years, lenders have stepped up fraud-prevention investigations and checks on mortgage applications. For borrowers, this may mean facing questions on actions like accepting cash gifts from relatives for the down payment or signing up for new credit cards during the application process. The research firm CoreLogic estimates that fraudulent residential mortgage originations […]

Refinancing Your Mortgage, While Underwater

Source MANY whose homes have fallen in value feel stranded with underwater mortgages. ***** “A lot of people have been sitting and not doing anything,” said Cari Sweet-Kostoplis, a senior mortgage banker at Atlantic Home Loans in Lincoln Park, N.J. But they may qualify to refinance their loans through a variety of programs aimed at […]

Repairing Your Credit So You can Buy a Home

Buying a home can be wonderful, but for those with past credit problems, the process is also very intimidating.  The good news is that many lenders have adapted to the idea that many hopeful homeowners simply need a second mobile porn chance. When life unexpectedly takes a turn for the worst, it’s not always possible to come out without a […]