According to Freddie Mac, the average 30-year, conventional, fixed-rate mortgage fell to a record low 5.00 percent in March 2009 from 5.13 percent in February 2009. A year ago the same time the rate was 5.97 percent.
Homes sales for March 2009 in recovering markets were higher than a year ago according to the National Association of Realtors because of the affordability factor and low interest rates as well as tax credits for first time home buyers. The Minneapolis, Northern Virginia, Las Vegas, Phoenix and the majority of California and …

Establishing good credit takes years so you don’t want to throw all that away by missing your monthly mortgage payments. If you find that you are going to be falling behind more than a month, the best thing to do is to contact your lender immediately.
Mortgage Modification Help
Seeking a mortgage modification can be confusing, but there is plenty of help available these days. Most of the time, homeowners are mot aware of their options and not sure who to turn too when they realize they have a financial crisis and …

HOPE Failure
Since the HOPE for Homeowners plan was adopted, the Federal Housing Authority has revealed that they received 752 applications, but only insured one loan that has helped save a homeowner from foreclosure. The plan appears to be a failure even though Congress made $300 billion available to back the loans.  However, the new Homeowner Affordability and Stabilization Plan is expected to work much better.
The original HOPE plan had asked lenders to voluntarily refinance delinquent borrowers’ mortgages by reducing their principal balance on loans to 90% of a home’s current …

Millions of homeowners are struggling right now to make their mortgage payments. However, many make the following mistakes. The end result is that they lose their homes to foreclosure. Most foreclosures can be prevented if you start early. Lenders have too many foreclosed homes on their books right now and are not interested in being in the real estate business. So here are some mistakes that you want to avoid making:
Mistake #1
Do nothing. This is the worst mistake that most homeowners do. They feel helpless, …

With the government’s new Home Affordability Mortgage Modification Plan, many Americans will be able to save their home from foreclosure.  In the past, the modifications have not been working very well, but there is hope that with the new guidelines established under the plan, they will help homeowners with affordable mortgage payments that they can keep making every month.
Q: How Do I Apply for a Loan Modification?
A: Working with a mortgage loan modification company or consulting with your attorney will facilitate your application process.  Since mortgage modification companies are experts …