The Cook County American Dream Downpayment Initiative Program (ADDI) is an interest-free 5 year forgivable loan, secured by a silent second lien. The home buyer will receive 6% of the sale price (or $10,000, whichever is greater), not to exceed $14,999, toward the down payment and closing costs of for the purchase of a home.
Changes to Fannie Mae guidelines may make it more difficult.
On December 12, 2009, Fannie Mae will roll out its latest version of Desktop underwriter – and with it new guidelines that may make it more difficult to get a mortgage. Many people have been waiting to refinance but now is the time to act,
According to Freddie Mac, mortgage rates fell again this week with a 30-year fixed rate mortgage now at an average 4.95%.
The last day to close on your home purchase in order to qualify for the Home Buyer Tax Credit (Congress Extends/Expands Home Buyer Tax Credit) is tomorrow, June 30, 2010. Many people who had a signed contract on or before April 30, 2010 may not be able to meet that deadline. The National Association of Realtors (NAR) estimates as many as 180,000 people will lose that tax credit due to delays in their closings.
I have met many note sellers who ignore the advice of preparation. Properly structuring a note for resale can be the difference between the sale of the note quickly and with little friction rather than sold short or worse, sell the note at all. To take proper structure of a mortgage note for resale is:
If you are having trouble paying your current mortgage, or if you think you are not getting the best deal possible, then perhaps it is time to think about a remortgage. However, many people are uncertain about the relative benefits and problems of a remortgage. Here are some tips to help you decide if remortgaging is right for you:
