Brexit has played a major role in lowering mortgage rates, which is expected to boost U.S. housing activity particularly refinancing, Freddie Mac said in an outlook for the month of July.On July 12, the government-sponsored enterprise released its monthly outlook, outlining international Read more
Archives for July 2016
Recent Rules Will Reduce FHA Reverse Mortgage Default Rates
A study published in July revealed that default rates on reverse mortgages insured by the Federal Housing Administration could be reduced by as much as 50% in light of the agency’s recent rules changes.This development comes as the FHA wishes to codify those changes and more in a proposed rule Read more
Senate Okays Housing Opportunity Through Modernization Act
After Brexit, more exciting news and developments are coming to homebuyers as the senate passes the Housing Opportunity Through Modernization Act. Once it becomes law, HOTMA will open ample opportunities for low-to-moderate-income homebuyers who would like to initiate their journey to Read more
FHA Program Enhancements Help Your Family Remain in Your Home
U.S. Department of Housing and Urban Development (HUD) just recently announced enhancements to its Distressed Asset Stabilization Program (DASP). One of the main objectives of this program is to help families remain in their homes and keep their properties from foreclosure.The updated program Read more
Good News: Updated Policy on Reconstructed Mortgage Loans
Fannie Mae has new rules that could help you catch up on your mortgage payments.It is important to note the difference between restructuring and refinancing to understand what the updated policy means for you.Loan restructuring, also known as loan modification changes the terms of the Read more
