Latest News in Mortgages and Home Loans – Jan 20, 2009

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FDIC Asks Banks to Report on How They Spent TARP Funds
One of the biggest scandals of the economic bailout bill passed last fall has to with how the $350 billion set aside for banks through TARP funds was spent. The money was meant to be spent in helping Americans avoid foreclosure. It was supposed to loosen up cash flow and banks were supposed to use […]

30 Year Fixed Mortgage Rate Falls Below 5%
For the first time ever, the 30 year fixed mortgage rate dropped below 5% last week. The 15 year rate actually rose, to 4.65%. This has many people rushing to refinance — if they can. One of the biggest problems with refinancing to the new low mortgage rate is that falling housing values have destroyed […]

Higher Loan Limits In New Economic Stimulus Bill
After approving TARP funds recently, Congress is not turning its attention to a new economic stimulus package. This new package is ostensibly designed to help regular folks, rather than to benefit mostly mortgage lenders and banks and other Wall Street types. One of the provisions in the new economic stimulus is said to be higher […]

Finance News: TARP, Bank of America and Tax Cuts
It’s getting crazy out here in the world of finance. Chances are that what is going on right now will affect us for quite some time to come. But that isn’t going to stop our leaders from continuing its policies. No matter that they probably won’t help accomplish stated short term and long term economic […]

Tax Liens Take Second Place to Other Liens
In the past, when you have a tax lien placed on your home in order for the IRS to try to get you pay what you owe, it is difficult to refinance or sell your home. This is because a tax lien means that the IRS has first claim to the money. Mortgage lenders who […]

Now is a Good Time To Buy a Second Home ? If You Can Get Approved
Even though the economy is doing fairly poorly right now, and even though the housing market is in trouble, for those who are looking, there are plenty of opportunities available. Indeed, the current low home values and prices offer an interesting chance for you to buy a second home. And, even though the interest rate […]

Do Banks Need MORE Money?
When our leaders rushed to provide hundreds of billions of dollars to banks as part of bailout legislation last year, they told us that the plan was to free up the credit markets so that consumers could get loans. All sorts of magic was supposed to happen as banks were infused with taxpayer dollars:

Interest rates […]

Buying a Home in 2009? Don?t Make These Mistakes!
Many people are looking at the low mortgage interest rates and the falling home prices and thinking that 2009 would be a great year for buying a home. Indeed, if you are in a good position with regard to your credit score, and if you have a fairly secure job and a little bit of […]

Mortgage Rates Once Again Hit a New Low
Mortgage interest rates are once again hitting brand new lows. Indeed, reports CNN Money, 30 year fixed rates are at their lowest since the industry has been keeping track of this sort of thing:
Government sponsored mortgage lender Freddie Mac said Thursday that fixed rates on 30-year mortgages averaged 5.01% for the week ending Jan. 8th. […]

4 Tips when Shopping for a Home Mortgage Loan
When it comes to getting a home mortgage loan, now may be a good time to do it. If you have a good credit score and can offer a down payment, you can get a good interest rate. Even if you don’t qualify for the best interest rate, you can still get a pretty good […]

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