Latest News in Mortgages and Home Loans- March 10, 2009

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Misplaced Rage: Really? We?re Upset that Government?s Trying to Help Regular …
I’m going to climb up onto my soap box here for the space of a couple hundred words. It’s really getting kind of ridiculous out there right now. I think that there is a lot of misplaced rage with regard to efforts being made to forestall foreclosure. So far, $11 trillion has been committed to […]

Do State Laws Contribute to Foreclosure Problems?
Some of the issues with home mortgage modification and with foreclosure relief, stem from state laws. In some cases, state laws can make a bad situation even worse. Real Estate Pro Articles points this out about some of the foreclosure laws that could compound the foreclosure situation:
One of these obsolete laws is the fast-track foreclosure […]

Deal Reached on the Question of Bankruptcy Mortgage Loan Modification
In an ongoing effort to strike compromises with the GOP minority, the Democrats are rethinking the measure in the mortgage relief bill that allows bankruptcy judges to modify the terms of home mortgage loans. Although, this compromise is probably for the best.
Bankruptcy mortgage loan modification as a last resort
Rather than giving carte blanche to bankruptcy […]

Reader Question: Credit Card Bill or Mortgage Payment?
Yesterday, I received this question from a reader: I am having trouble meeting my obligations. Should I pay my credit card bill or make my mortgage payment? I suspect that with the current economy — not to mention fears of job loss — this is going to be a question asked with increasing frequency. The […]

The Importance of Your Credit Score When Buying a Home
One of the most important aspects of your financial life is your credit score. And your credit score is extremely important when it comes to buying a home. Indeed, before you start looking for a home, it is a good idea to check your credit score.
Problems that can arise from a poor credit score
It is […]

Mortgage Interest Deduction Could be Capped at 28% Tax Bracket
On Thursday, President Barack Obama provided a summary of his budget. While full detials have yet to be fleshed out, Congress — and the American people — got a pretty good idea of what President Obama hopes to accomplish. Indeed, he has said that his has a goal to reduce the yearly budget deficit by […]

Obama?s Foreclosure Prevention Plan Isn?t Just for ?Losers?
Right now, one of the biggest attacks on President Barack Obama’s foreclosure prevention plan is that it helps “losers” who made poor decisions on their home mortgage loans.
This is not entirely true.
One of the nice things about the Obama plan is that it also benefits those who made good decisions. And it also does […]

Selling a Home? Nearby Foreclosures Can Affect the Selling Price
Image by Getty Images via Daylife
One of the main issues with the economy right now is the fact that the housing market is having so much trouble. And if you are trying to sell your house, you probably know this. Increased foreclosures in the area probably aren’t helping, either. Unfortunately, it is a sad fact […]

Getting a Little Refinancing Help from Fannie Mae
Fannie Mae is trying to help refinancing move through with a little more efficiency. One of the tools being used is called the “Desktop Underwriter.” Subprime Blogger has some good information on this new refinancing program:
The ?Desktop Underwriter Refi Plus? program is going to expand the criteria for qualifying for a loan. There will be […]

Would the U.S. Government Actually Nationalize Citi?
Image via Wikipedia
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 […]

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