Latest News in Mortgages and Home Loans- Feb 24, 2009

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Would the U.S. Government Actually Nationalize Citi?
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The more we find out about the state of our financial and banking system, the darker things look. And what we’ve been finding out about banking giants and major mortgage lenders has been that they are nowhere near as solvent as we have been thinking. It doesn’t seem as though the trillions already […]

Who Qualifies for the $8,000 New Homebuyer Tax Credit?
One of measures in the recently passed economic stimulus bill that might have an effect on individual finances is the $8,000 new homebuyer tax credit. However, there are plenty of questions raised by the provision. Over at Bible Money Matters, there is a pretty thorough treatment of who qualifies for the $8,000 new homebuyer tax […]

So, You Want to Benefit from the Foreclosure Prevention Plan
Yesterday, to much fanfare, a new foreclosure prevention plan was unveiled. The plan, in addition to helping millions who made poor decisions, also has the potential to help those who made good choices with their homebuying. Some of the highlights of the plan include:

Refinancing for those who owe between 80% and 105% of their home’s […]

Protecting Your Finances During a Recession
We all know that we’re in a recession. And things don’t look to be getting better for the individual any time immediately. Even though recent measures could have some positive effects for individual finances, chances are that you will be mostly on your own in this area. Here are some things you can do to […]

Obama?s Foreclosure Prevention Plan Unveiled
Yesterday, the Obama Administration revealed that today would see the unveiling of a foreclosure prevention plan. The plan calls for $275 billion of the TARP funds approved last year to be used to directly lower mortgage payments for as many as 9 million Americans.
This new plan is a sharp departure from earlier attempts at forcing […]

Will Obama?s Foreclosure Prevention Plan Actually Prevent Foreclosures?
Image by respres via Flickr
Today, President Barack Obama signed the economic stimulus bill into law. The law, which includes a tax credit of $8,000 for first-time homebuyers, is meant to help jump start the economy, but it remains to be seen whether or not it will really work. But the economic stimulus measures in the […]

Will Banks Get Another Infustion of Capital?
After the Obama Administration announced the development of a “stress test” for U.S. banks, regulators began visiting the banks and trying to determine how bad things are. After all, there is some speculation that banks have been hiding the true extent of their problems. Now there are thoughts that what has been done thus far […]

U.S. Could Offer Mortgage Subsidies to Prevent Foreclosure
As JPMorgan and Citigroup announce that they will offer a moratorium on foreclosures — on the heels of a similar revelation from Bank of America, the Obama Administration is mulling a plan that includes mortgage subsidies to help prevent foreclosure.
The idea is to help buy time for borrowers who may not be able to make […]

Home Values Continue to Fall
Image by Getty Images via Daylife
Home prices are declining at a record pace. Home values have been plunging monthly since the middle of 2007 when the subprime mortgage market crash began. Now, as the economy continues to sink deeper into recession — and people have difficulty buying a home — housing prices have yet to […]

Fannie Mae: Finance More than Four Properties If You Want
Image by spike55151 via Flickr
In response to the mortgage market meltdown, Fannie Mae added some guidelines that restricted real estate investors from buying (or refinancing) more than four properties. This restriction really put a damper on things for some real estate investors, since Fannie Mae and other government sponsored institutions have been among the few […]

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