Bank of America Makes a Huge Move : Principal Forgiveness

Bank of America announced today that it will introduce “principal forgiveness” program designed to help some troubled mortgage borrowers relief from the possibility of foreclosure.  The program will look to reduce loan balances of qualifying distressed homeowners with adjustable rate mortgages or subprime loans in an effort to make their payments more affordable.  The homeowners [...]

FHA-Backed 203(k) Rehab Loans Can Make All The Difference.

FHA rehab what? You mean there are still loans available to help fix up a house? S-WEET!Here is the scoop: The FHA-backed 203(k) rehab loan is an increasingly popular option in today’s market because so many available properties, especially foreclosures, are in need of repair. And let me tell you, I have been in plenty [...]

High Rates + Low Rates = TIME TO REFINANCE

Get rid of your interest-only and high interest rate loans now!  Check it out…

My husband and I are in the process of refinancing our house into a 5%, 30-year fixed loan with no upfront costs.  Killer!  We are also refinancing our rental from a 10-year interest only loan into a fixed loan as well, for very little cost.  [...]

FHA Changes to the Condo Guidelines

This just in from mortgage guru, Chet Gohd, RPM Mortgage in Berkeley.
“Today, February 1st, is the beginning of the new FHA Condo project guideline changes. From this point, any FHA loan for a condo will require an approval from HUD. This means that in order to do the loan, the financials from the Condo Project [...]

Google Launches New Mortgage Comparison Chart

Google just launched a way cool new advertising service which allows consumers to anonymously compare interest rates and fees from mortgage lenders.  The “Comparison Ads for Mortgage” is the latest development from the internet search giant.