If fewer foreclosures create a brighter future for the housing market, Bank of America is doing its part to help out. This spring, a test segment of “underwater” BofA borrowers were invited to participate in the lender’s “Mortgage to Lease” initiative. Instead of enduring the...
Fannie Mae and Freddie Mac are tightening up their timelines when it comes to short sales and REO’s. Now, loan servicers that need more than 30 days to make a decision on a short-sale are required to provide weekly status updates and give a yes...
FHA Mortgage insurance premiums on loans higher than $625,500 have recently seen another increase. There was an FHA increase across the board for all loan amounts on April 9th 2012. In early June there was another monthly premium increase of 25 basis points to 1.50%...
There are indeed many benefits of owning a home. Here is a list of some of the best. Every month you are building equity on your home. Equity is the amount of money you can sell your home for, minus what you still owe on it....
For the first time in 20 years, United States cities are out-growing suburbs. The new census estimates that a change in population trends followed the current housing climate thanks in part to the spike in oil prices. Americans are choosing to stay put in big...
For many potential homebuyers, the real fun comes in narrowing down the exciting yet endless possibilities for decorating their new living space. Long before they sign the escrow papers, they’re dreaming of shiny new wood floors for the bedroom, a dramatic chandelier above the dining...