Loans » Mortgage http://ubove.com Private Personal Loan Companies Fri, 10 Feb 2012 05:42:05 +0000 en hourly 1 http://wordpress.org/?v=3.1.2 Los Angeles Mortgage Customers Welcome The Fall Season with Mixed Results http://ubove.com/los-angeles-mortgage-customers-welcome-the-fall-season-with-mixed-results/ http://ubove.com/los-angeles-mortgage-customers-welcome-the-fall-season-with-mixed-results/#comments Sun, 25 Sep 2011 21:48:20 +0000 davidguide http://ubove.com/los-angeles-mortgage-customers-welcome-the-fall-season-with-mixed-results/ Los Angeles area mortgage customers said good-bye to a long summer and hello to the Fall season. The change in seasons offers more good news for the few borrowers who can qualify for a mortgage loan. Refinance…

View full post on All Stories

]]> http://ubove.com/los-angeles-mortgage-customers-welcome-the-fall-season-with-mixed-results/feed/ 0 Mortgage applications fall http://ubove.com/mortgage-applications-fall/ http://ubove.com/mortgage-applications-fall/#comments Wed, 24 Aug 2011 16:36:52 +0000 davidguide http://ubove.com/mortgage-applications-fall/ Applications for mortgages to buy a house or to refinance an existing loan fell last week, even though mortgage rates are at all-time lows. The D.C.-based Mortgage Bankers Association said overall applications fell 2.4 percent last week, and purchase applications decreased 5.7 percent, the lowest level since December 1996. “Another week of volatile markets and rampant uncertainty regarding the economy kept prospective homebuyers on the sidelines,” said Mike Fratantoni, the association’s vice president of research and economics…

View full post on All Stories

]]> http://ubove.com/mortgage-applications-fall/feed/ 0 Mortgage company urges plan for principal cuts (Reuters) http://ubove.com/mortgage-company-urges-plan-for-principal-cuts-reuters/ http://ubove.com/mortgage-company-urges-plan-for-principal-cuts-reuters/#comments Fri, 20 May 2011 15:28:39 +0000 davidguide http://ubove.com/mortgage-company-urges-plan-for-principal-cuts-reuters/ Reuters – American Home Mortgage Servicing, one of the largest servicers of subprime mortgages, is urging the U.S. Treasury to organize a plan to boost principal reductions for up to one million homeowners by unlocking loans from securities.

View full post on All Stories

]]> http://ubove.com/mortgage-company-urges-plan-for-principal-cuts-reuters/feed/ 0 Mortgage rates: Average on 30-year fixed loans rises to 4.86% http://ubove.com/mortgage-rates-average-on-30-year-fixed-loans-rises-to-4-86/ http://ubove.com/mortgage-rates-average-on-30-year-fixed-loans-rises-to-4-86/#comments Thu, 31 Mar 2011 15:28:35 +0000 davidguide http://ubove.com/mortgage-rates-average-on-30-year-fixed-loans-rises-to-4-86/ NEW YORK — Fixed mortgage rates rose slightly this week, but the average rate on the 30-year loan remained below 5 percent.

View full post on All Stories

]]> http://ubove.com/mortgage-rates-average-on-30-year-fixed-loans-rises-to-4-86/feed/ 0 Mortgage rates hold steady, Freddie Mac survey finds http://ubove.com/mortgage-rates-hold-steady-freddie-mac-survey-finds/ http://ubove.com/mortgage-rates-hold-steady-freddie-mac-survey-finds/#comments Fri, 11 Mar 2011 00:29:26 +0000 davidguide http://ubove.com/mortgage-rates-hold-steady-freddie-mac-survey-finds/ The interest rate on a 30-year fixed loan this week edges up to 4.88% from 4.87% last week, while the 15-year fixed loan is unchanged from 4.15%. Rates on adjustable loans are nearly unchanged. Mortgage rates held steady this week, with lenders offering 30-year fixed-rate loans at 4.88% on average and 15-year fixed loans at 4.15%, Freddie Mac reported in its latest weekly survey.

View full post on All Stories

]]> http://ubove.com/mortgage-rates-hold-steady-freddie-mac-survey-finds/feed/ 0 Uncertain Path Ahead For U.S. Mortgage Giants http://ubove.com/uncertain-path-ahead-for-u-s-mortgage-giants/ http://ubove.com/uncertain-path-ahead-for-u-s-mortgage-giants/#comments Mon, 31 Jan 2011 06:30:38 +0000 davidguide http://ubove.com/uncertain-path-ahead-for-u-s-mortgage-giants/ The fight over mortgage giants Fannie Mae and Freddie Mac is part of a larger debate about the appropriate role for government in supporting the U.S. housing market. That market is still fragile and heavily dependent on the government-run giants for new home loans.

View full post on All Stories

]]> http://ubove.com/uncertain-path-ahead-for-u-s-mortgage-giants/feed/ 0 Some banks help keep mortgage holders out of default, studies find http://ubove.com/some-banks-help-keep-mortgage-holders-out-of-default-studies-find/ http://ubove.com/some-banks-help-keep-mortgage-holders-out-of-default-studies-find/#comments Mon, 03 Jan 2011 18:28:16 +0000 davidguide http://ubove.com/some-banks-help-keep-mortgage-holders-out-of-default-studies-find/ While the nation’s foreclosure crisis has focused blame on bad loan practices by some lenders, new research shows how some banks may have actually reduced the default risk of their homebuyers. Researchers found that low-income homeowners who received a mortgage from a local lender were less likely to default on their loans than are those who borrowed from a more distant bank or mortgage company.

View full post on All Stories

]]> http://ubove.com/some-banks-help-keep-mortgage-holders-out-of-default-studies-find/feed/ 0 3 FHA Mortgagees Pay HUD $1.7 Million http://ubove.com/3-fha-mortgagees-pay-hud-1-7-million/ http://ubove.com/3-fha-mortgagees-pay-hud-1-7-million/#comments Mon, 27 Dec 2010 21:28:21 +0000 davidguide http://ubove.com/3-fha-mortgagees-pay-hud-1-7-million/ The U.S. Department of Housing and Urban Development disclosed that WR Starkey Mortgage LLP was hit with a $223,000 civil money penalty. Countrywide Home Loans Inc. entered a settlement with HUD that included a $141,500 civil money penalty and buy downs of $93,263. HUD accepted an $815,913 settlement offer from Birmingham Bancorp Mortgage Corp.

View full post on All Stories

]]> http://ubove.com/3-fha-mortgagees-pay-hud-1-7-million/feed/ 0 ARM Activity Headed Higher http://ubove.com/arm-activity-headed-higher/ http://ubove.com/arm-activity-headed-higher/#comments Fri, 10 Dec 2010 04:13:20 +0000 davidguide http://ubove.com/arm-activity-headed-higher/ Prospective borrowers chose an adjustable-rate mortgage on 5.6 percent of the applications tracked in the latest Mortgage Bankers Association’s Weekly Mortgage Applications Survey . ARM share fell from 5.7 percent the previous week. Based on closed loans, Freddie Mac forecasts that ARMs will account for 6 percent of fourth-quarter volume then climb to 10 percent by the end of next year.

View full post on All Stories

]]> http://ubove.com/arm-activity-headed-higher/feed/ 0 Learn About Bank of America Refinance Programs http://ubove.com/learn-about-bank-of-america-refinance-programs/ http://ubove.com/learn-about-bank-of-america-refinance-programs/#comments Tue, 07 Dec 2010 20:36:03 +0000 davidguide http://ubove.com/learn-about-bank-of-america-refinance-programs/ If you are looking to reduce your monthly mortgage payments, you can consider refinancing your home loan to a lower interest rate or from an adjustable-rate into a fixed rate loan by learning more about Bank of America refinance programs. Bank of America offers good refinancing programs to suit your needs. Furthermore, the bank also has good rates and excellent customer service. The bank takes good care of its returning clients so if you are searching for a mortgage or a refinancing scheme, you may do well to sign up with this bank.

So, how do you know if you qualify for refinancing? Well, you can refinance your mortgage if you have already built up at least 10% of the equity of your home. After all, refinancing means you are cashing out on the equity of your home. That’s why you need to have at least 10% of equity before you can refinance your mortgage. Also, most banks will look at your home equity before considering your application for refinancing. This is because the lender wants to use your home equity as collateral for the loan. You will also need to be current on your home loan payments and not defaulting in the payments.

Next, you can learn what is Bank of America Refinance program and how many programs the bank offers. So, even if you do not have enough equity in your home and have been current on your mortgage payments for at least 12 months, you may still be eligible for refinancing under the bank’s Home Affordable Refinance program. This program is part of the federal government’s Making Home Affordable program and it was developed to help those who can’t qualify for a traditional refinance. The program will be able to help reduce the monthly mortgage payments for borrowers. However, you are only eligible under this program if your loan is owned by Fannie Mae (Federal National Mortgage Association) or Freddie Mac (Federal Home Loan Mortgage Corporation). Other than this, your first mortgage has to be 105% or less of your home value, your home is a single-family home unit and you have not been more than 30 days late on your monthly mortgage payments for at least 12 months.

To apply for the Home Affordable Refinance program, you can call the bank and inform it of your current financial information so that it could check on your eligibility for it. The bank may also appraise your home, pull up a credit report to verify your financial situation and then it will notify you of your eligibility within 75 days of your initial call. It will take the bank another 75 days to evaluate your application and once it makes a decision, it will send you a letter. If you have been approved, you will get a call from the bank to schedule the closing of the loan. The closing process is similar to what you experience when you apply for the first mortgage when you purchased your home. You will need to sign the closing documents and you will also be required to pay the closing costs, unless it can be financed into the loan amount.

There are also other Bank of America lender refinance programs such as interest-only refinance loans, jumbo loans, combo loans and other specialized loan programs to suit your specific financial needs and situation. With so many specialized programs including fixed-rate and adjustable rate refinancing schemes available at the bank, it is really worth your while to check it out in your search for a mortgage refinance program.

]]> http://ubove.com/learn-about-bank-of-america-refinance-programs/feed/ 0