Tag Archives: loans

Homebuyer’s First Steps

Mortgage rates are at 50-year lows – the 30-year fixed-rate mortgage averaged 3.95 percent at the close of 2011 – making homeownership more affordable than ever for families with a stable income and good credit. But before you begin house hunting in earnest, it’s important that you get the facts about buying a home in [...]
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Home Mortgage Loans

The Federal Reserve Board on Wednesday issued a final rule and requested public comment on a second rule under Regulation Z to revise the escrow account requirements for certain home mortgage loans. The revisions to the regulation, which implements the Truth in Lending Act (TILA), are being made pursuant to the Dodd-Frank Wall Street Reform [...]
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Consumer Protection Regulations

The Federal Reserve Board on Monday proposed two rules that would expand the coverage of consumer protection regulations to credit transactions and leases of higher dollar amounts. The proposed rules would amend Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) to implement a provision of the Dodd-Frank Wall Street Reform and Consumer Protection [...]
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Making Homes Affordable

The Advertising Council, in partnership with the U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development (HUD), announced today the launch of a national public service advertising (PSA) campaign designed to encourage homeowners who are struggling with their monthly mortgage payments to learn about the Making Home Affordable Program. While [...]
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Loan Modifications

Number of permanent modifications increases by 45 percent WASHINGTON, DC – The U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) today released February data for the Administration’s Home Affordable Modification Program (HAMP). As of the end of the month, more than one million borrowers were receiving a median savings [...]
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Homeowner Mortage Help

Freddie Mac is a company that helps fund mortgages. From the start to finish, we ask the same questions: Do our credit policies and mortgage practices advance responsible lending? The principles drive our business. They also reflect the public mission in our congressional charter. And together, they have led Freddie Mac to take on a [...]
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Avoiding Foreclosure

Contact Your Lender to Avoid Foreclosure Many people avoid calling their lender when they have money troubles. Most of us are embarrassed to discuss our money problems with others or believe that if lenders know we are in trouble, they will rush to collection or foreclosure. Foreclosure is expensive for lenders, mortgage insurers and investors. [...]
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Alert: Mortgage and Loan Modification Scams

WASHINGTON, DC – The U.S. Department of Housing and Urban Development, in partnership with the Loan Modification Scam Prevention Network, today announced the launch of PreventLoanScams.org. “ Homeowners at risk of foreclosure can be easy prey for home loan modification scammers. Often, dishonest individuals lure vulnerable homeowners into foreclosure rescue scams by making false promises. Scammers [...]
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Getting Started Buying A House

1. HOW DO I KNOW IF I’M READY TO BUY A HOME? You can find out by asking yourself some questions: Do I have a steady source of income (usually a job)? Have I been employed on a regular basis for the last 2-3 years? Is my current income reliable? Do I have a good [...]
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Credit For Small Businesses

The Federal Reserve has issued a statement to banks that encourages them to lend to small businesses. The recent credit crisis has had a severe impact on the ability of small businesses to obtain credit and loans. The federal financial regulatory agencies and the Conference of State Bank Supervisors (the regulators) issued a statement today [...]
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