NEWS AND INFORMATION

Bank of America - First to Sign Deal with U.S. on Home Equity Loans
Bank of America - the largest U.S. bank, agreed to modify some home-equity loans through the government’s Home Affordable Modification Program amid criticism from bond investors and consumer groups over the federal effort to limit foreclosures.
POSTED: 01-27-2009

Mortgage rates fall; Unemployment data still weak
WASHINGTON - Mortgage rates are falling as this week's dramatic action by the Federal Reserve provides a boost to the dismal housing market, but the nation's unemployment rolls are stuck at historically high levels amid a deepening recession.
POSTED: 12-18-2008

News Release from the Federal Housing Finance Agency
Starting Dec. 15, Fannie Mae and Freddie Mac, the huge, government-controlled mortgage underwriters, will sponsor various kinds of relief to homeowners at risk of foreclosure. Here are some of the requirements eligible borrowers must meet: Be at least three months behind on their mortgage payments Owe the bank at least 90% of what the home is worth Live in the home as a primary residence Not be in bankruptcy Be able to prove that they're not just trying to skip out on the loan
POSTED: 11-11-2008

New Mortgage Help for Home Owners
Freddie Mac and Fannie Mae have announced a streamlined mortgage modification program for highest risk borrowers (a “high risk borrower” has missed three payments or more, owns and occupies the property as a primary residence, and has not filed bankruptcy. The program intends to create an affordable monthly mortgage payment based on household gross income.
POSTED: 11-11-2008

Project Lifeline New Mortgage Help Plan
With home prices falling, even some people with good credit have gotten behind on their payments. Like many subprime borrowers, they signed up for adjustable-rate mortgages that allowed them to make smaller, steady payments for several years until a higher fluctuating interest rate kicked in.
POSTED: 02-12-2008

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