Details of President Obama’s plan to help struggling homeowners was announced today. This plan was announced a few weeks ago as the Making Home Affordable initiative. From the details which were announced today this plan helps two types of homeowners  and applies only to primary homes. This means you can not expect any help on [...]

Last week Fannie Mae announced that the Streamlined Modification Program (SMP) would now be available to borrowers. This program is part of an ongoing effort by the GSE to prevent foreclosures. Borrowers of course need to meet certain requirements to participate in the program.
Tammy over at the Arizona Mortgage Team blog has done a nice [...]

Last week we sold a bunch of things on Craigslist. One person who came to purchase the last baby gate was one who had to move to a new house all of a sudden. This move was because the landlord was foreclosing and by default her life was going to have to change as well. [...]

A foreclosure break for the holidays. Freddie is announcing a suspension to all foreclosure activity from the day before Thanksgiving to January 9, 2009. Here is what Freddie has on its website:
McLean, VA – Freddie Mac (NYSE: FRE) today announced it has ordered its national network of mortgage servicers and foreclosure attorneys to suspend all [...]

Over the past month or so Fannie Mae and Freddie Mac have made a few announcements regarding maximum loan levels. For some odd reason I didn’t post these changes as they were announced. Perhaps I was distracted by other things going on. So, I want to share with you some of the major changes which [...]

Not all mortgage interest rates are the same. The radio may blast away advertisements claiming low low low rates in the low 5.00% range, but alas how misleading these messages are. The truth of the matter is that while the 30 year mortgage rate remains at historic lows not everyone gets the same interest rate. [...]