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propertyinfo · Joined: 04 Oct 2009 Posts: 14 0.36 Dollars($)

how often do mortgage rates generally change? What are the main divers of change in the US market - Fed Reserve announcements?

Posted: Sun Nov 08, 2009 9:58 pm Post subject:

Mortgage rates change on a day to day basis. Yes, federal reseve announcements can be considered as one of the main drivers of change in the US market.

Guest

Great Topic,
I have seen the Home mortgages rates drop from last week. Talk to your Home Mortgage Professional to find out how money you can save.

memories · Joined: 12 Oct 2009 Posts: 16 3.87 Dollars($)

have spoken with representatives and or counselors of "Making home Affordable" and "Hope for Homeowners" and still was not able to find help with my mortgage problems. I have spoken with a couple the credit counselors and housing counselors and still did not get help other than do a worksheet that says I just don't make enough. My lender does not participate in the programs and are not willing to work with me. I am stuck with a monthly payment that I can't afford since my job now pays less and a high 8.25% interest and I am still waiting for my bailout or home rescue program from the government lol.......

smithsussane · Posted: Wed Dec 02, 2009 8:48 pm Post subject:

Hi memories!

Welcome to forums!

You can apply for the conventional loan modification if your lender is not participating in HAMP. You'll have to write a hardship letter and apply for the same. Check out if your lender agrees to it.

Feel free to ask if you've further queries.

Sussane

gmakerley · Posted: Wed Jan 13, 2010 4:16 pm Post subject:

talking with another loan officer today about "Refi Plus" which is the nominal name for the 105% (expanded to 125%) ltv program.

his take: nobody is doing 125% because who in their right mind would do so...of course this makes sense, particulary in the current environment. so the expansion of the program may not have taken place as planned.

i haven't had occasion to attempt one of these, though at 105% we can still help a person or two, i'd think.

Posted: Mon Feb 01, 2010 5:48 pm Post subject:

I have actually got 3 approved so far but they must be a current fannie mae or freddie mac mortgage.

Guest

Although Obama wants to help, it did not give any details on the regulation on how much rate you can get from the lender, the bank.

Wells Fargo, for instance, does not give you the current rate, but add another 0.75% over the market rate. When you ask the mortage specialist, they tell you that is the policy. Who set up the policy? Does Obama tell the lender to give you 0.75% higher than the market rate?

If I take that rate, it is not better than what I have. so should I get stuck here and wiat for the house to rebounce back and become a victom of the bubble?

Guest

The policies of the lender may vary. Moreover, no lender is forced into this plan. It's the lender's discretion whether or not he would take part in the plan. You will have to accept the rate that is offered to you. You can negotiate for a lower rate but it would depend upon the lender whether or not he would accept it.

wolfy52864 · Joined: 22 Feb 2010 Posts: 2 1.54 Dollars($)

I have been stuck with sub prime loan since 2004. I have no lates, okay credit and good income but cannot get a refinance. This program I only wish was available for me, went to the website and it said I did not qualify because my current loan is not a Freddie mac or a Fannie mae.

Guest

I am at 31% of my income going to my mortgage, not backed by Fannie Mae or Freddie mac and my credit score is 630. Nothing can help me!!! I have a sup rime loan and will stuck with it for the next 25 years.

Guest

Does anyone know if the Obama Administration is going to change the rules for a second mortgage?

Guest

Haven't heard any such news till date...

eric1 · Posted: Sat Sep 25, 2010 8:09 am Post subject:

Jen, you are not stuck. 31% DTI is well within the limits and you CAN refinance with that credit score. There are plenty of FHA lenders who will do that deal.

infoccmrx · Posted: Fri Oct 29, 2010 6:13 pm Post subject: 125% LTV

Any ledners offering 125% LTV? Source of lenders would be great to know.

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Obama Increases Refinance Program to 125% Of The Home Value