Mortgage rates fall on tame inflation
Mortgage rates declined, as a benign report on prices kept a lid on interest rates.
Read more on Bankrate.com via Yahoo! Finance
Refinancing Now Could be Better Than Waiting for Mortgage Rates to Drop Further
(LA Times) — When the Federal Reserve recently rolled out its plan to pump 0 billion into the credit markets, many homeowners and buyers might have figured that because mortgage interest rates are now likely to fall again, why not postpone the loan application they were contemplating? Fed Chairman Ben S. Bernanke offered implicit support for that [...]
Read more on The Atlanta Post
Home loan auditor is hot on the trail of mortgage fraud
Insurers, lenders and investors hire Robert Simpson’s firm to dig up falsifications of the borrower’s employment, income and debt load. It’s lucrative work: Simpson expects more than million in revenue this year. The gig: President of Investors Mortgage Asset Recovery Co. The Santa Ana firm audits home loans that have gone bad, looking for falsifications of the borrower’s employment, income …
Read more on Los Angeles Times
Question by doubleb: Anyone know of any mortgage companies offering loans for credit scores in the 590’s?
Have a steady, secure job and 9+ years of solid rental history. Just wondering if anyone knows of anything that I haven’t seen. Seems like 620 is the minimum score these days, but don’t think my score will be up that high before the first time buyer credit ends.
No Down Payment Poor Credit Mortgage Loans – Understanding 80/20 Loan Option
When applying for a mortgage loan, down payments are generally required as part of the financing. Many traditional mortgages will only finance 80 percent of the home price. Thus, homebuyers are obligated to provide the additional 20 percent. Having a down payment of 20 percent is ideal in a perfect world. In reality, few people have access to this type of money. For this reason, mortgage lenders are offering 80/20, or piggyback mortgage loans.