HAMP Borrowers Can Earn Extra $5K Reward

The government is throwing in more incentives to keep borrowers who modify their loans through the Home Affordable Modification Program (HAMP) current on their mortgages. HAMP borrowers who pay on time can earn an extra $5,000 in their sixth year of payments. That’s on top of the $5,000 borrowers are […]

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Majority Unaware of Down-Payment Assistance

Seventy percent of adults in the U.S. say they’re unfamiliar with down-payment assistance programs for middle-income home buyers in their community, according to a NeighborWorks America survey of 1,000 people. But plenty of help is available. NeighborWorks organizations provided 6,000 buyers with more than $100 million in down-payment assistance last […]

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Mortgage Loans Just Got Easier To Obtain

Fannie Mae and Freddie Mac’s new lending guidelines went into effect Monday, which are expected to help loosen up the tight credit standards that home buyers and refinancers have faced in recent years. The guidelines clarify when lenders will be penalized for making mistakes on mortgages they sell to the […]

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Conforming Loan Limits Will Rise In 2015

For mortgages acquired by Fannie Mae and Freddie Mac, the conforming loan limit for a single-family home will remain at $417,000 next year for the majority of the country. In 46 counties, however, jumbo loan limits will rise, reflecting that these areas have seen home values rise by some of […]

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