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 …

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 …

This is part of our series “Stop Foreclosure in Your State.”
Foreclosure in any state is a complex process. There are deadlines, guidelines and variations that depend upon whether a state uses mortgages or deeds for the purchase of real estate. In Ohio, the lender issues a mortgage, which means that foreclosure is done through a court action against a borrower in default. Below is a table that illustrates the standard facts around a foreclosure in Ohio.

Judicial
Non Judicial
Process Period
Sale Publication
Redemption Period
Sale/NTS

Yes
No
217 Days
NA
None
Sheriff

There are ways to stop foreclosure Ohio, though there …

A short sale is when the owner owes their lender more on their mortgage balance than the property is worth and asks the lender to approve the sale of the property at a price less than the mortgage. The lender must then write off the remaining loan balance. The seller is free to walk away from the property and no longer owes the lender any money. The title of the property transfers to the new buyer.  This is one of 10 ways to stop foreclosure.

Short Sale Steps
Step 1
The first …

By now most people are well aware of the enormous banking industry bailout. This is divided into many different segments and one of them is the loan modification and homeowner recovery programs that include the Home Affordable Refinance Program, the Home Affordable Modification Program, or the Hope for Homeowners program.
These programs received roughly $75 billion intended to help the roughly 8.3 million borrowers with loans at risk for default or foreclosure to stop the process if possible. The monies are not handed over to the homeowners and their mortgages forgiven …