Home Equity Conversion Mortgage program (HECM) will be revised with some changes and may come into effect in the month of October. Federal Housing Administration (FHA) will receive new changes from the House and the U.S. Senate that may go into effect from 1st October 2013.
Home finance write-offs year-to-date in July 2013 dropped by 22% this year and it is also being termed as the highest drop since 2007 according to a report from Equifax. The Chief Economist, Amy Crews Cutts, of Equifax has quoted, “Only two major consumer credit
It is absolutely okay if you haven’t filed your tax returns in the last several years and now want to enter the tax system safely. “It is better late than never” and IRS believes this phrase. That is why they are allowing people to enter
Independent Foreclosure Review Settlement has seen about 3 million people cashing or depositing $2.6 billion+ in checks. The regulators were eyeing on finalizing the settlement by the end of summer. It went on as a mass mailing that was under a massive deal with 13
2013 has been a year of recovery for the housing industry and the nation is praising it for the same. The housing recovery has been quite a relief for everyone and homebuyers are seemingly becoming confident for buying homes. If we look at the records
As a mortgage borrower, you know the importance of meeting the closing date on time and it often happens that it gets delayed due to one or the other reason. The reasons may be wrong address, details not matching, incorrect loan amount, etc. All these
Still recovering from the excitement of last night’s Ballpark game, we had a packed agenda of workshops, awards and matchmaking on 25th July at Westin St. Francis, San Francisco. The event aimed to acknowledge the achievements of members and “all-stars” among the WBEs. Fellow event sponsors
The housing market implosion in 2007-2010 was largely due to unsubstantiated income claims on mortgage applications, which resulted in lending money that could not be afforded by people. This is the reason that moneylenders are now using 4506-T forms to verify income before lending. The
The Federal sequestration cuts are taking a toll on the economy and the legislation being finalized by the policymakers is expected to hit some of the largest government agencies. The Department of Housing and Urban Development is being considered to be in the danger zone. The
The spring-buying season has turned into a boon for the country with home prices benefiting immensely. If we look at the records from past months, the forecasts are turning true for most of the states. The forecasted growth percentage of yearly, two-quarter and quarterly gains