The Mortgage Reports : Today's Mortgage Rates & Strategy

$35,000 : The Going Rate To Get Someone Out Of Their Home?

Rob Chrisman — Thu, 09 Feb 2012 03:12:47 PST

Banks have started to offer more than $35,000 in cash to delinquent homeowners so that they can sell their properties for less than they owe.

FHA Streamline Refinance Changes : Banks To Stop Verifying Income, Job, And Credit

Dan Green — Wed, 08 Feb 2012 04:01:02 PST

In a huge win for FHA homeowners, the FHA will exclude Streamline Refinances from its "Compare Ratios". In response, expect banks to open the FHA Streamline Refinance floodgates. You'll get a "true" FHA underwrite going forward -- no verification of income, job or credit required.

Mortgage Insurers Give Fannie Mae Permission To Speed Up Short Sale Timelines

Rob Chrisman — Wed, 08 Feb 2012 03:14:45 PST

Fannie Mae has been given the authority to proceed with a short sale or complete a deed in lieu of foreclosure by five mortgage insurers, without needing to secure their approval.

The Cash-In Mortgage Refinance : Bring $1,000, Save $1,718

Dan Green — Mon, 06 Feb 2012 21:30:04 PST

With Freddie Mac's published mortgage rates now sub-4 percent, homeowners are doing what it takes to refinance into today's low mortgage rates -- even if it means bringing some cash to closing.

The FHA Has Programs For Homeowners In Need — But Will They Work?

Rob Chrisman — Mon, 06 Feb 2012 21:06:26 PST

The FHA has many programs to offer lenders and borrowers, but many lawmakers and industry professionals are unsure if the FHA is up to yet another challenge of this scale.

2011 Federal Income Tax Deadline Extended Two Days To April 17, 2012.

Dan Green — Sun, 05 Feb 2012 21:45:46 PST

It's Tax Season. This year, you get 2 extra days to file -- taxes aren't due until April 17, 2012. Estimate what you'll owe the IRS with this helpful calculator.

Should Mortgage Rate Shoppers Care What Happens to Greece?

Rob Chrisman — Sun, 05 Feb 2012 21:03:43 PST

Few want Greece to fail, because the ripple effect on mortgage rates could be far reaching.

Mortgage Rates Spike On Blow-Out Jobs Figures, Drop In Unemployment Rate

Dan Green — Fri, 03 Feb 2012 06:46:26 PST

Mortgage rates are spiking right now as Wall Street begins to bet *with* the economy instead of against it. January's jobs report may be a tipping point.

The Case-Shiller Index : Flawed, Unreliable, And Down In November

Dan Green — Thu, 02 Feb 2012 06:51:13 PST

The Case-Shiller Index reports that home values fell in November as compared to the month prior. The good news is that we can ignore its findings.

Mortgage Rates Are Not “Set” By The Federal Reserve (Or Anyone Else)

Rob Chrisman — Thu, 02 Feb 2012 05:29:05 PST

The exact timing of any mortgage rate increase difficult to forecast given that these rates are not "set" - they are determined by market forces.

The First 100 Days Of HARP : Mortgage Rates, LTVs, Statistics And Figures

Dan Green — Tue, 31 Jan 2012 21:01:30 PST

Statistics, geography, and demographics of the HARP Refinance Program's First 100 Days. Data tracked includes Median LTV, Median Interest Rate, and Average Loan-to-Value.

“Big Banks” Loosen Mortgage Guidelines; More Homeowners Getting Approved

Dan Green — Tue, 31 Jan 2012 02:56:32 PST

Last quarter, not a single bank tightened its prime residential mortgage guidelines. The economy is looking up, and so are mortgage rates.

“Responsible Homeowners” Can Save $3,000 Per Year Via HARP-Like Program

Rob Chrisman — Mon, 30 Jan 2012 17:15:02 PST

An update on the President's proposal for “a plan that gives every responsible homeowner the chance to save about $3,000 a year on their mortgage by refinancing at historically low interest rates".

Mortgage Approval Help : How To Give And Receive A Downpayment Gift For A Home

Dan Green — Sun, 29 Jan 2012 21:16:06 PST

There's a prescribed method for giving and receiving cash gifts for downpayments for a home. You can't just deposit the money into your bank account. If you do, your lender may reject the funds.

Foreclosure Processing Timelines Slowing U.S. Home Sales

Rob Chrisman — Sun, 29 Jan 2012 14:09:40 PST

Finishing the foreclosure process and unloading the REO are two different things. REOs once linked to subprime loans continue to take the longest to sell.

Inflation Targeting : What It Does To Mortgage Rates

Dan Green — Fri, 27 Jan 2012 07:09:30 PST

For the first time in its 99 years, the Federal Reserve has set an explicit target rate for inflation. The Fed's inflation target will change how you shop for mortgages.

The January 2012 FOMC Statement And Its Effect On Mortgage Rates

Dan Green — Thu, 26 Jan 2012 07:35:23 PST

Mortgage rates have been improving since the Fed's mid-day meeting Wednesday.

No Correlation: The Fed Funds Rate And 30-Year Fixed Mortgage Rates

Dan Green — Wed, 25 Jan 2012 06:38:44 PST

Mortgage rates and the Fed Funds Rate have different masters. The former is by Wall Street; the latter by government committee. Use government clues to make sure you lock your mortgage rate at just the right time.

Bull Market Signals : Home Supplies Get Scarce Nationwide

Dan Green — Tue, 24 Jan 2012 07:29:44 PST

Another sign of a housing market recovery : The longer you wait to buy a home, the fewer homes there are from which to choose. Home buying stays strong -- now 4 months running,

How To Cancel Your FHA Mortgage Insurance Premiums (MIP)

Dan Green — Sun, 22 Jan 2012 22:13:02 PST

How FHA mortgage insurance works, and how to cancel your monthly MIP requirement. Depending on your loan type, the rules for FHA MIP cancellation vary.