The real estate market is starting to show signs of a recovery, and many people are purchasing vacation homes because of favorable pricing. But many of the vacation homes that people are purchasing are close to their primary residences thanks to the rising costs of...
There’s good news for military home owners who have been permanently moved because of a job. Effective June 1, the rules concerning who is considered owner-occupants changed, and some military families could qualify for the Home Affordable Modification Program (HAMP). The HAMP program helps lower...
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....