Home Affordable Refinance Program (HARP) If you're not behind on your mortgage payments but have been unable to get traditional refinancing because the value of your home has declined, you may be eligible to refinance through MHA's Home Affordable Refinance Program (HARP). HARP is designed to help you get a new, more affordable, more stable mortgage. HARP refinance loans require a loan application and underwriting process, and refinance fees will apply.   You may be eligible for HARP if … [Read more...]

Forbes 13th Annual List:        The Best Places For Business and Careers The recession spared few U.S. cities, wiping out 9.4 million jobs between November 2007 and August 2009. Many will never return, and those that do you probably won’t find on the East or West Coast. For the most active areas of job creation (and lower costs of doing business) you have to go to the heartland, home to 80% of the top 25 regions on our list of Best Places for Business. In most of these hot hubs … [Read more...]

The number of distressed properties across the nation has resulted in a range of effects. Most notably, though, has been the effect on non-distressed homes in neighboring areas and communities. Perhaps no one has been harder hit than builders of new homes. The National Association of Home Builders (NAHB) reports that one out of three builders are reporting losing signed contracts during the preceding six months because appraisals are coming in lower than contract sales prices. It is … [Read more...]

Existing home sales on the rise. Mortgage debt is up. Defaults, which had been on the decline, were also on the rise in November. This latest report comes from Standard & Poor’s/Experian indices.The default rate had dropped to 2.08 percent this October from 3.06 at the same time last year. Second mortgage defaults were also down, dropping to 1.29 percent from 1.8 percent a year earlier.Yet, defaults were up for the month of November for five major metro markets that are tracked. Los … [Read more...]

The Veterans Administration is offering to the general public a wonderful opportunity to buy VA foreclosures for personal use or for investment.  The highlights of this program include: 1. Low fixed rate financing - 4.5% for 30 years. 2. No mortgage insurance 3. Do Not need to be a veteran. 4. No property limit for investors 5.  Low downpayment (5%) For more details, click on this link https://va.equator.com/index.cfm?event=public.vaVendeePage and save in your favorites. … [Read more...]

30-Year Fixed-Rate Mortgage Matches All-Time Record Low at 3.94 Percent     In Freddie Mac's results of its Primary Mortgage Market Survey® (PMMS®), the average fixed mortgage rates at or near their all-time lows. The 30-year fixed matched the average all-time record low of 3.94 percent, and a new all-time record low was set for the 15-year fixed, both previously set in the October 6, 2011 Freddie Mac PMMS. The 5-year ARM also set a new all-time record low at 2.86 percent for the … [Read more...]