Q: Several homes in our neighborhood have been foreclosed. My next door neighbors let their home go when they had to leave the area for new jobs. They had an FHA loan. My husband says that the FHA is a government agency and that the taxpayers have to pay... Read more
Federal Housing Administration (FHA) mortgages are now available to select borrowers only one year after a foreclosure, slashing the previous three-year waiting time by 66 percent. The deal isn’t available to all borrowers and it is tough to qualify after only one year, but the new provision is a major... Read more
Conventional wisdom (and the average member of Congress) says that the key to preventing future foreclosure epidemics is making sure that borrowers have more “skin in the game.” That means requiring a higher down payment to buy a home. There are a few things wrong with this conclusion. 1.... Read more
Freelance writer Craig Guillot filed this special report from New Orleans Lanvin LeBlanc, a Louisiana fisherman, watched his business come to a halt in early May when federal officials shut down his fishing waters due to the BP-Gulf oil spill. Though LeBlanc owns his own home, he has a... Read more
Guest Post by Eli Dror, a Senior Loan Originator with Georgia-based LSI Mortgage Plus, part of the LendingTree national network of lenders. Prepared  just days before Fannie Mae announced restrictions for borrowers who make “strategic defaults,” this blog post addresses the question of whether homeowners should walk away from... Read more
North Dakota may not have the sunny beaches of Florida or California, but the state outshines all others in some recent housing and economic rankings reports: The Mortgage Bankers Association (MBA) found North Dakota to be the state with the lowest numbers of loan delinquencies. A report by LendingTree’s... Read more
For some lucky families, a new loan modification program by The Black-Eyed Peas’  Will.i.am is allowing them to keep a roof over their heads. The program –  the “i.amhome fund” – combines money from the musical artist’s own savings with a fund-raising campaign to collect donations that will help... Read more
U.S News & World Report recently reported on the top ten places in the United States that had the most “underwater” mortgages. Understanding Negative Equity or Underwater Mortgage Negative equity or “underwater” mortgage is when a home owner owes more on their home than it’s worth. Therefore, home owners... Read more
With many people still struggling to pay their monthly mortgage payment, it may be helpful to understand how to avoid foreclosure in turbulent economic times. 1.     Call your lender. It’s expensive to a lender if you foreclose, so they don’t want you do it as much as you don’t.... Read more
We are in the thick of a buyer’s market right now. With so many homes hitting the housing market, it’s hard to compete with their home prices. Home owners everywhere are lowering their asking price just so they can get their house sold before it gets worse. Selling Your... Read more