Monthly Archives: July 2009
Ilyce Fills In For Clark Howard July 31, 2009
I’ll be filling in for WSB talk show host Clark Howard tomorrow from 1p to 4p ET on Newtalk 750 WSB. You can listen live to the show at the [wsbradio….
New HUD Home Affordable Modification Loss Mitigation Program for FHA Loans – Mortgagee Letter
HUD announced a new loan modification program for FHA borrowers that will help FHA borrowers who are having trouble making their mortgage payments by creating a second interest-free loan for up to 30 percent of the loan amount. New monthly payments will be amortized on the remaining portion of the loan balance, which should lower monthly costs for homeowners. The second, interest-free loan does not have to be repaid until the primary loan is paid off.
New Refinance Option for FHA Borrowers Allows Second Interest-Free FHA Loan
The Department of Housing and Urban Development (HUD) announced a new program designed to help FHA borrowers refinance their mortgages. FHA will allow mortgage servicers to provide a an interest-free second loan of up to 30 percent of the loan balance that does not have to be paid until the primary loan is paid off. Mortgage servicers can rewrite the terms of FHA loans, even FHA loans that are delinquent.
RealtyTrac Reports Unemployment Related Foreclosures May Be Spreading
Unemployment and foreclosure may be more directly linked according to the Midyear report released by RealtyTrac. While Sunbelt states like California, Florida, Nevada and Arizona dominate the foreclosure landscape, other states that are facing high levels of unemployment are showing above average levers of unemployment. According to RealtyTrac, growing unemployment may have more of an effect on foreclosures than lasting effects from subprime loans.
Nigerian Email Scam Targeting Rental Properties
On paper it seems so obvious. Of course you wouldn’t get sucked in by a scam artists promising you super low rates in exchange for wiring a few months…
Nigerian Online Rental Ads Scam: Alert
In a new twist on the Nigerian email scam, online rental ads are soliciting potential renters to wire money for several months rent, in exchange for super low rent rates. A scam alert from the FBI warns against the latest Nigerian scam. Online rentals found through sites like Craigslist are attracting this new Nigerian scam. The FBI warns renters searching for apartments and rentals to be wary of anyone asking for personal information, or who isn’t local.
Barney Frank Says Bankruptcy Modification of Mortgages Possible if More Loan Modifications Aren’t Done
Congressman Barney Frank says that the HOPE NOW Alliance and the mortgage mortgage industry must continue to improve their efforts to provide mortgage modifications. Barney Frank said that if loan modification progress is not seen, more drastic legislative measures, like bankruptcy modification of mortgages, will be on the agenda. The HOPE NOW Alliance says they have seen a slight drop in mortgage modifications, but an overall increase in mortgage workouts since May.
Seller and Buyer Closing Costs State By State
Seller and buyer closing costs are usually a mystery, and we frequently receive emails asking us to give sellers more information on who generally gets to pay for survey and title insurance expenses. So, we prepared a list of two of the most popular closing costs paid by sellers and buyers on a state by state basis: title insurance for the owner’s title insurance policy and survey costs. There are so many closing costs to deal with, but these two costs are usually not thought about by a home buyer or a home seller.
New Surveillance Equipment Gets A Mobile Upgrade
If you’ve ever wanted to be two places at once, new technology from Cernium Corporations can help out with that aspiration.
After more than ten …
New Technology Provides Home Surveillance Equipment
Archerfish is a new technology in home video surveillance equipment that sends you alerts anywhere you get internet. The new technology allows you to set up surveillance cameras in a variety of locations, specify the types of events you think are noteworthy and receive updates anywhere from email to your cell phone or PDA. This surveillance system uses the latest technology to monitor your home through surveillance cameras and mobile updates.
