Home Equity 101 »
From Inform | 2009-07-02 14:30:45
Home equity has a pretty straightforward definition: It is the difference between the home’s fair market value and the balance of all the liens on the property. As the owner makes payments against this balance or as the property value increases, the equity also increases. Technically, it has a zero rate of return. But knowing this definition is not enough-home equity often serves as collateral for a home equity loan, and understanding these loans is essential when dealing with real estate. These loans reduce the home equity by creating ...
Home Ownership Vocabulary »
From Inform | 2009-07-02 14:30:45
They are scary words to a first-time home buyer. Mortgage, guarantors, financing... they can see jumbled and confusing, especially with a pushy realtor. Sometimes the best strategies are to research the information as best as you can, especially learning the definitions of these phrases. Let's start with the basics: Real estate is land, improvements on it, and the rights to own or use them.
A title is the right to ownership of a property. A guarantor is someone who backs you up financially and pledges your loan will be ...
Banks trim borrowing from Fed's emergency program »
From AP News | 2009-07-02 20:47:40
Banks borrowed less from the Federal Reserve's emergency lending facility over the past week and cut back on other programs designed to ease the financial crisis, encouraging signs that some credit stresses are easing. The Fed on Thursday said commercial banks averaged $35.9 billion in daily borrowing over the week that ended Wednesday. That was down from $39.1 billion in the week ended June 24. Investment firms didn't draw any ...
Mortgage Applications Plunge »
From consumeraffairs.com | 2009-07-02 16:02:07
More consumers flocking to apply for new mortgages would be good news for the economy. Unfortunately, just the opposite is occurring. The Mortgage Bankers Association, in its Weekly Mortgage Applications Survey for the week ending June 26, 2009, the number of people applying for a mortgage has dropped significantly. The Market Composite Index, a measure of mortgage loan application volume, was 444.8, a decrease of 18.9 percent on a seasonally adjusted basis from 548.2 one week earlier. On an unadjusted ...
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HOME owners are cashing in on record low interest rates to pay off their mortgages at the fastest rate since the 1970s, figures showed yesterday ...
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Consolidating your debts into one monthly payment is a very attractive prospect when trying to solve your financial problems. But using your home's...
Freddie Mac allows financing of 125% of home value »
Atlanta Business Chronicle 7/3/2009 4:06:53 PM
Freddie Mac announced Wednesday that it would offer loan-to-value ratios on home mortgage refinancings of up to 125 percent for qualified ...
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Atlanta Business Chronicle 7/3/2009 10:10:30 AM
The Mortgage Bankers Association reported the number of mortgage applications fell last week by 18.9 percent.. . In its Weekly Mortgage ...
Pause in rising interest rates »
Puget Sound Business Journal 7/2/2009 3:21:31 PM
Rising mortgage rates reversed course this week, with long-term rates falling slightly. Freddie Mac's weekly report says 30-year fixed-rate ...
Freddie Mac receives additional $6.1 billion from government to help offset its liabilities »
LA Times 7/1/2009 9:48:56 AM
Battered mortgage giant Freddie Mac has received $6.1 billion in new funds from the Treasury Department to help offset its mounting liabilities ...
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