The LARGEST Searchable Database Of Home Mortgage Loans - Find the best rates today!
Fast. Free. Easy.
If you find and compare loan programs today you'll receive as your FREE gift a copy of US Federal Trade Commission E-Pamphlet on "Getting the Best Mortgage".
|
Loan Rate Freeze Agreement ReachedArticle 5210 - December 06, 2007
Release of the plan was coming after news earlier Thursday that home foreclosures surged to an all-time high in the July-September period. The Mortgage Bankers Association reported that the percentage of all mortgages that started the foreclosure process in the third quarter jumped to a record 0.78 percent, surpassing the previous record of 0.65 percent of all mortgages in the second quarter. The administration's effort is aimed at stemming a further tidal wave of foreclosures in coming years as 2 million subprime mortgages — loans provided to borrowers with spotty credit histories — reset from their introductory rates of around 7 percent to 8 percent to levels as high as 11 percent, adding hundreds of dollars to the typical monthly payment. The mortgage companies will offer to freeze the loans at the lower introductory rates as long as the borrowers did not miss any payments at the lower rate. The program is the biggest effort yet to deal with the surge in mortgage defaults, which have piled up billions of dollars in losses for big banks, hedge funds and other investors while roiling financial markets worldwide. The defaults are the latest economic blow from the worst housing slump in more than two decades. Some economists think the housing bust may become severe enough to push the country into recession. |
UPDATED: September 03, 2010
Blog Site 1 | Lowest Rate Loans | Best Home Equity Loan Rates | Bad Credit Home Improvement Loans | First Time Home Buyer | Debt Consolidation | Refinancing Home Mortgage Rates | Home Equity Loan Refinancing | Poor Credit Score Loans | Quicken Home Loans | Articles Related to Home Refinancing | Foreclosure activity continues to drop in Harris County | Higher ARM?Take advantage of lower interest rates today! | Crossing at Telfair in Sugarland | New Mortgage Help for Home Owners | Countrywide Offers Refinance or Purchase Mortgage for Home Remodeling |
Leading Lenders: Ditech | Ameriquest | Washington Mutual | Countrywide | HomeLoanCenter | BankRate | LendingTree | American Mortgage | Ameriquest | GMAC | Sallie Mae | Capital One | Bank of America | Quicken Loans | Wells Fargo | WAMU
"Refinancing" and "Mortgage" are often misspelled. Some examples are: Morgage refinace rates, home morgage refinacing, mortage refiance, mortage refinace, mortage refiancing loan, mortage refinacing, home motgage refiance, motgage refinace company, motgage refinacing, mortagage refiance loan, mortagage refinace, home mortagage refiancing company, morgage refiance rates, motgage refiancing rates, mortagage refinacing rates, home equty, eqoty, equoty, approvels, laon, home mortgage refinacing, mortgage refiancing, mortagage refinance, mortagage refinancing, hom eloans, homeloans, refnance, reinance, erfinance, home eqwatie, home equatie, home equtiy, dept consolidation, det consolidation, debt consoladation, loam, loams, home equty and morgage refiancing. Please note the correct spelling for future use.