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New Plan to Help 9 Million Homeowners Stay Out of Foreclosure

This morning the federal government released a new plan aimed at lowering mortgage rates as well as monthly payments in a effort to stem the bleeding in the housing market. The new plan is aptly named the “Making Home Affordable”

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Posted in Mortgage News

The bailout and Mrs. Polks of the country

Understanding the bailout is not going to be an easy task, for anyone. What exactly is being bailed out, who is going to get mortgage relief, and, and, and the list goes on. In the next week I’ll post some

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Posted in Mortgage News

Summary of the Emergency Economic Stabilization Act of 2008

As of 12:20 p.m. today this bill has failed to pass the House of Representatives. For general information below is a summary of the Act. Jay Thompson, the Phoenix Real Estate Guy, posted the entire draft of the Act on

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Posted in Mortgage News

Trying to make sense of the financial "bailout"

I’m going to preface this by saying #1 – I am not a mortgage broker and #2 – this is just plain confusing even to those in the business of explaining to the rest of us. That said…. The Page

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Posted in Mortgage News

Down Payment Assistance Programs Look to be Going Away

I’ve written several times over the past few months about Nehemiah and Ameridream, two of the largest down payment assistance programs in the country. A bill eliminating, or severely limiting, Down Payment Assistance (DPA) programs has already passed Congress, is

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Posted in Mortgage News