Looser Mortgage Requirements Entice Home Buyers
After the housing bubble went “pop” in 2007, it became a lot tougher for the average home buyer to qualify for a mortgage. Read More
After the housing bubble went “pop” in 2007, it became a lot tougher for the average home buyer to qualify for a mortgage. Read More
Anybody that’s applied for a mortgage in America during the last 5 years knows how difficult the process has become. Mortgage lenders have tightened loan requirements to the point that even people with good income and credit can’t get a loan. Read More
During the financial and housing crisis that gave birth to the so-called “great recession,” millions of homeowners found themselves underwater on their mortgages. Many more lost their homes to foreclosure, had to declare bankruptcy, or both. Read More
Since the housing crisis of 2008, the phrase “subprime loan” has become the moral equivalent of a four-letter word, an indication of all that goes wrong when risky, irresponsible home loans for bad credit become commonplace. Read More
After much concern about the direction of flood insurance rates and their impact on the real estate market, President Obama signed the Homeowner Flood Insurance Affordability Act into law on March 21st 2014. This law added amendments to the 2012 Biggert Waters Law. Read More
January of 2014 saw the Consumer Financial Protection Bureau (CFPB for short) introduce a host new rules and guidelines for real estate mortgages. For the most part, these ‘new’ rules and guidelines have already been around for awhile. The financial industry suffered a crushing blow from the 2008 Financial Crisis and has been extensively regulated every since. Read More
The Federal Housing Administration recently announced that it will soon be easier for borrowers with bankruptcy, foreclosure or a short sale in their past to qualify for an FHA loan. On August 15th, HUD released a mortgagee letter outlining new requirements for applicants who have experienced an “economic event” in their past that they have since recovered from. Read More