The multitude of recent news reports out of Washington results in a lot of questions concerning President Obamas plan to reduce foreclosures. I will attempt to minimize this confusion by briefly explaining the highlights of Obamas plan. The government estimates that this plan will assist up to nine million distressed homeowners. As the Mortgage Bankers Association indicates that there are about 51 million first mortgages in the US, this means about 18 percent may qualify for this program which was launched in March, 2009. This is a summary of a very detailed program which you can learn more about by going to the US Government website at financial stability.gov.
Entries from March 2009
Obama Foreclosure Rescue: Refinance and Modification
Mar. 27th, 2009
What are the most common foreclosure scams???
Mar. 27th, 2009
Home foreclosure is becoming a far more common problem now then it was just a few years ago. Often it originates from one missed payment which soon spirals out of control. Before you know it you have missed three or four payments and the mortgage lender or bank wants you to pay everything you owe all at once, right then and there. Often this is a major burden to the homeowner and in the end they must decide on some sort of plan of action…this is normally where some one can fall for a scam.
Buying New Indianapolis Real Estate
Mar. 27th, 2009
It can be difficult to find a home to buy in the Indianapolis real estate market. It\’s not because of the lack, but the current market has too many available homes to choose from. Currently, anyone who wants a home can have one there because the prices have dropped. The real problem is knowing what kind of home you want.
Use These Tips To Save Money On Your Mortgage
Mar. 26th, 2009
These days, foreclosure is rife in the US. Last year over 2 million of these took place and this is why it is wise to save as much as possible on a mortgage loan. There is nothing wrong with owning a home and no one should be afraid to take this step, but getting a mortgage is probably the single biggest investment you will ever make. In this article, we\’ll look at ways to protect that investment..
Bankruptcy Or Foreclosure On Your Home: Which One Too Choose From?
Mar. 26th, 2009
One must decide whether or not to choose bankruptcy or foreclosure. The right decision is taking immediately is not very easy. A mortgage lender will initiate a foreclosure proceeding if the monthly mortgage payments fail to be met. The best way to prevent this action would be to pay the holder or your mortgage.
Indianapolis Real Estate and Poor Performing Realtors
Mar. 26th, 2009
Realtors are available to help you to find a home in Indianapolis real estate areas. Their quality varies from good to bad that don\’t really care about what you want and just want to make a sale. The problem is learning to sort the good realtors from the poor ones to help you find a good home. Most of them turn out to be friendly, but with the increase of housing near the suburbs of Indianapolis, finding a realtor that isn\’t trying to simply sell you a property to get it off their hands can be hard at times. There are a few signs to look for.
Buying a Home with a Low Credit Score
Mar. 26th, 2009
American has been shaken by the sub-prime market demise, as a result creating a major financial crisis. Lenders were giving out too much money to people with awful credit and now they can not make their loan payments. Ultimately this has creating a major issue for todays home buyers.
What Is A Short Sale – Can I Make Money?
Mar. 25th, 2009
Are you trying to find out \”what is a short short sale?\” Many people today are trying to understand what this technical term is. In fact thousand of new real estate investors are attempting to profit off the real estate market; they want to find out if they can be the next big success story.
Tight Lines in Red Lodge Montana.
Mar. 25th, 2009
I have fished Montana for over four decades and even have had conversations with legend Bud Lilly. I have fished with the author who completed George Brook\’s final book, Rand Oslund. I\’ve fished the Gallatin, Madison, Jefferson, Missouri, Big Horn, Smith River, Yellowstone, spring creeks, creeks in Yellowstone National Park and pretty much everywhere in the State, including several high mountain lakes.
What Is A Short Sale?
Mar. 25th, 2009
Are you trying to find out \”what is a short short sale?\” Many people today are trying to understand what this technical term is. In fact thousand of new real estate investors are attempting to profit off the real estate market; they want to find out if they can be the next big success story.