FED's latest move to fight Credit Crisis

The Federal Reserve took a courageous decision by accepting 200 million of housing debts as collateral to promote liquidity in the housing market and give some relief to the banks brokerages. The banks and other financial institutes are facing cash crunch and even after five rate cuts within the last few months experts believe that this is not much effective. So FED came up with this program to eliminate the credit crisis.

30 year FRM rates rise

Mortgage rates have been increasing for last three weeks but this week rates on 30 year mortgage rose highest in the last three months. Last week it was 6.04 percent but now it has been increased to 6.24 percent in this week.

On November 15th 2007 it was also 6.24 percent. But since then we saw a steady downfall in the mortgage rates. During January 2008 the rates were falling steadily and refinancing had hit 12 months highest in that month because homeowners were trying to take advantages of the lower rates to make their monthly payments lower.

Project Lifeline to help delinquent homeowners

Bush administration has announced another plan to offer help to the delinquent homeowners. It is expected that over a million of homeowner will face foreclosure during this year. This is not a government project. Six major lenders have agreed to delay foreclosure for 30 days. They are Bank of America, Citigouup, Countrywide Financial, JPMorgan Chase, Washington Mutual and Wells Fargo. In this project, Banks will target the delinquent borrowers to get up to date with loan modification so that they can avoid foreclosure.

$160 Billion Economic Stimulus Package...

President George W. Bush has signed a160 billion dollar Economic Stimulus Bill into law on 13th Feb, 2008 to ward off a possible economic collapse. Under this Economic Stimulus package, individuals who earn 75k dollars or less will get 600 dollar tax rebate and working couples who earn less than 150k dollars or less, will get 1200 dollar tax rebate. For each child, there will be additional 300 dollar rebate.

Time to Think about Refinance

Mortgage rates are down and long-term mortgage rates are at the lowest level compared to that of the past 4 years. Even short term rates may go down soon. So it is the best time to refinance your mortgage to get a lower interest rate.

However, it actually depends upon the borrowers’ equity that they have, credit score, present loan terms etc. They will have to think whether they can benefit from the refinance even after paying pre-payment penalty and closing costs.

Colorado Mortgage Manager is a blog providing updated information on mortgage and real estate. It is not only a good platform for the users who are facing problems with their brokers, but also addresses  the queries of new comers who are venturing into mortgages. There are discussions on the fluctuations of interest rates.

Know-Hows of Real Estate Market from Luba’s Blog

Luba’s San Francisco Real Estate is a blog on the real estate industry in San Francisco.

The blogger here has dealt with valuable information which can help real estate sellers as well as buyers in the San Francisco areas. Besides, there is also some insight on neighborhood real estate.

Moreover, there are references to some good resources on real estate and related areas. And, I must mention here that the posts are simply written so that even a layman can get an idea of what it is about.

Different Types of Deed and Their Uses

A deed is generally used to transfer the ownership of real estate property. There are different types of deed and their usage varies with the type of transaction. Mainly three kinds of deeds are mostly preferred in the US. These are given below.

1.Warranty deed:
A Warranty deed is used when someone is selling or buying a property. This deed assures that the title is free from any kind of liens. It confirms that the seller owns the property and has the right to sell it.

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